Business Issues News Politics

“WHO Commends Nigeria as First to Deploy Latest Meningitis Vaccine”

The World Health Organization logo is pictured at the entrance of the WHO building, in Geneva, Switzerland, December 20, 2021. REUTERS/Denis Balibouse/File Photo Purchase Licensing Rights “World’s First: Nigeria Leads with Groundbreaking Men5CV Meningitis Vaccine Rollout, WHO Confirms Nigeria, a Meningitis Hotspot in Africa, Pioneers Revolutionary Vaccine Deployment In a significant stride towards eradicating meningitis, Nigeria […]

Business Issues News Politics

Deadline Set: Banks Given Three Months to Cease Offering Forex-Backed Loans

Nigeria’s Central Bank Intensifies Efforts to Boost Foreign Exchange Liquidity, Mandates Banks to Halt Forex-Backed Loans within 90 Days In an ongoing bid to bolster foreign exchange liquidity within the economy, the Central Bank of Nigeria (CBN) issued a new directive on Monday instructing Deposit Money Banks to cease accepting foreign currencies as collateral for […]

Business News Politics

Naira Surges to N1,270 in Parallel Market

  Today, Tuesday, the Naira experienced an upturn, reaching N1,270 per dollar in the parallel market, marking a favorable shift from last week Thursday’s N1,290 per dollar. Likewise, in the NAFEM, the Naira saw an increase to N1,278.58 per dollar. According to data from FMDQ, the indicative exchange rate for NAFEM dropped to N1,278.58 per […]

Business News Politics

NNPCL Emphasizes Bridging Energy Access Gap for Nigeria’s Economic Advancement

“In efforts to close Nigeria’s energy access gap, Kyari highlights NNPC Ltd’s commitment to developing essential infrastructure for oil and gas delivery, aimed at fostering prosperity for Nigerians.” Nigerian National Petroleum Company Limited (NNPCL) logo The Nigerian National Petroleum Company Limited (NNPC Ltd) underscores the pivotal role of addressing the energy access deficit in fostering […]

Business Food News Politics

Obasanjo: Affordable Financing, Stable Policies Vital for Enhancing Food Production

Former President Obasanjo Urges Government Action on Cheap Credit and Policy Consistency for Food Production Boost Olusegun Obasanjo, Nigeria’s former president, has emphasized the critical need for the government to facilitate access to affordable credit and maintain policy consistency to empower farmers and enhance food production in the country. Obasanjo’s remarks come amidst growing concerns […]

Business News Politics

Touchdown: Air Peace’s Debut London Flight Sparks Enthusiasm

  Nigerians Celebrate as Air Peace Executes First Full London Flight Air Peace made history on Saturday with its inaugural full flight to London, utilizing a Boeing 777 for this landmark journey. The airline marked the occasion with a brief ceremony at the Muhammed International Airport (New Terminal), drawing notable figures like Festus Keyamo, Minister […]

Business News

CBN Reports Nigerian Economy Receives $1.5 Billion Inflow in One Week

CBN Nigerian Economy Sees $1.5 Billion Inflow in a Week Following CBN’s Interest Rate Hike After the Central Bank of Nigeria (CBN) increased the Monetary Policy Rate (MPR) by 200 basis points to 24.75 percent, the Nigerian economy welcomed a $1.5 billion inflow within a week. Mrs. Hakama Sidi Ali, the Bank’s Acting Director of […]

Business Issues News

“Federal Government Breaks Fiscal Responsibility Act, Secures Borrowing to Fund 2024 Workers’ Salary Review”

Amidst pressure from organized labor, there are signals that the Federal Government (FG) plans to resort to borrowing to implement its salary increase for federal workers in 2024. The Budget Office of the Federation (BOF) has disclosed details in the 2024 FG budget, attributing the escalating deficit to factors such as salary review. The estimated […]

Business News Politics

World Bank Names Wale Edun as Finance Minister

World Bank Names Nigerian Finance Minister Wale Edun as Chairman of African Governors’ Forum In a historic development, the World Bank has designated Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, as the Chairman of the African Governors’ Forum. This appointment is an unprecedented first for Nigeria, as affirmed by a […]

Business News Politics

Lagos Start-Up Scene: Optimism Prevails in Nigeria

Entrepreneurs in Nigeria are demonstrating the potential for significant achievements with relatively small investments in the country’s booming start-up scene. One such entrepreneur is Ifeoluwa Dare-Johnson, whose personal tragedy of losing her father to an undiagnosed condition spurred her to co-found Healthtracka. This healthtech start-up, funded partly out of Silicon Valley, offers home health tests, […]

Business News Politics

Ngozi Okonjo-Iweala: Nigeria’s Esteemed Leader

Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization (WTO) President Bola Ahmed Tinubu recently attended the Global Financing Pact Summit in Paris, organized by French President Emmanuel Macron. This marked his first official foreign trip as the newly elected president, aimed at fostering diplomatic relationships, attracting investments, and improving Nigeria’s image. The president and […]

Business News

Bank of America: Naira Undervalued Following Currency Float

Following Nigeria’s decision to float the naira, analysts at Bank of America, a US-based bank, have stated that the Nigerian naira has transitioned from being overvalued to undervalued. In a note to clients on June 28, the analysts expressed their view that the fair value of USDNGN (the exchange rate between the US dollar and […]

Business News

FG and Stakeholders Divide N2.84 Trillion in FAAC Allocation

FG, States, and LGs Share N2.84 Trillion in FAAC Allocation for the First Four Months of 2023 Nigeria’s Federal Government (FG), along with the 36 states and 774 local governments (LGs), received a total of N2.84 trillion as statutory allocation from the Federation Account Allocation Committee (FAAC) during the period of January to April in […]

Business News Politics

Aig-Imoukhuede: Africa’s healthcare spend per person inadequate for complex challenges.

Aigboje Aig-Imoukhuede, founder/chairman of the Africa Initiative for Governance (AIG) Aigboje Aig-Imoukhuede, the Chairman of the Aig-Imoukhuede Foundation, has noted that the per capita spending by African governments on healthcare is not enough to address the intricate healthcare challenges facing the continent. He made this observation while speaking at the Africa-UK Health Summit, held recently […]

Business News Politics

Buhari woos investors in US, says Nigeria is Africa’s largest consumer market

President Muhammadu Buhari has assured investors of massive investment opportunities in Nigeria.  Buhari spoke at a dialogue session with some US investors, Nigerian officials, diplomats and as well as experts from the private sector in Washington DC, United States of America, on Friday. The session, titled ‘The Presidential Dialogue: Nigeria Business and Investment Forum’, was […]

Business News Technology

Innoson exports $4.7m made-in-Nigeria vehicles to Sierra Leone

THE first batch of vehicles manufactured for the government of Sierra Leone by Innoson Vehicle Manufacturing Ltd., IVM, has been delivered to the West African country by the Nnewi-based indigenous automaker. The vehicles, which arrived in Freetown on November 21, 2022, were built to order by Sierra Leone’s Ministry of Defence. The request for the […]

Business News

Nigeria, Canada Can Do Much More Together – Osinbajo

Vice President Yemi Osinbajo, SAN, meets with the Canadian Deputy Prime Minister, Chrystia Freeland, and other top parliamentarians and members of the Canadian government in Ottawa, Canada. 21st November, 2022. Photo: Tolani All Vice President Yemi Osinbajo has said that Nigeria and Canada can do much more together by improving trade, deepening ongoing educational collaboration, […]

Business News

Export Trade: FCMB rallies operators to diversify, stimulate economy

Nigeria’s vast non-oil endowment must be urgently leveraged to diversify and expand its revenue base, reduce the dependence on crude oil for foreign exchange earnings, and stimulate rapid economic growth. Policymakers, financiers, export trade experts and value chain players insisted on this in Lagos at a non-oil export trade seminar organised by First City Monument […]

Business News

Emirates Airlines Suspends Flights To Nigeria Over Trapped Funds

Emirates Airlines has suspended flight operations to Nigeria over its inability to repatriate blocked funds. The airline in a statement made available to Channels Television on Thursday said the suspension took effect from October 29, 2022. The airline said it has communicated its position to the Federal Government and the Central Bank of Nigeria (CBN). […]

Business News Politics

COVID-19, Ukraine conflict are wake-up call for Africa on food production — Buhari, Adesina

Say Nigeria spent N1.6trn on stimulus programme …as Gbajabiamila says insecurity, biggest threat to future of Africa’s youths President Muhammadu Buhari, Monday, said that the effects of COVID-19 and the conflict in Ukraine were a wake up call on the Africa continent to collaborate amongst themselves for sustainable food production. The same position was canvassed […]