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, […]

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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 […]

Business News Politics Technology

NNPC Failed to Contribute to Federation Account in March

The Nigerian National Petroleum Company as failed to remit any money to the federation account, a joint pool operated by the Federal, State and Local governments in the country in March.With the inability of the national oil company to contribute last month, Which means since this year, the NNPC has not funded the statutory joint […]

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IMF: Fuel Subsidy Causing Deterioration in Fiscal Balance in Nigeria

The International Monetary Fund (IMF) yesterday maintained that prolonged payment of petrol subsidy in Nigeria was affecting the country’s fiscal balance despite revenue increase from rise in global oil price.The Washington-based institution stated this in its latest Regional Economic Outlook for Sub-Saharan Africa titled: “A New Shock and Little Room to Maneuver,” released yesterday.It stated: […]

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AIICO Clinches Certification for Information Security Management

AIICO Managing Director Babatunde Fajemirokun said the Company broke the record as the first in the industry in Nigeria to receive this certification, which represents high information security standards that provided a wide range of requirements for information security management systems He said Information Security Management is a system that defines and manages controls that an […]

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Tomato Jos launches first wholly Made-in-Nigeria tomato mix

Speaking at an event to unveil the Tomato Jos sachet variant, the Managing Director of the company, Mira Mehta, said: “It is a dream come true. Though entrepreneurship is full of ups and downs, I feel encouraged whenever I see my passion for this business ignite in one of my colleagues. I am incredibly proud […]

Business News Opinion

Selling in 2022: Real estate sales and lead generation strategy

The Real Estate industry is one that is extremely sensitive and people tend to trade with caution, so, how do you get people to trust you enough to actually buy from you? In today’s real estate market, where the cost of land is between the range of 6M and 20M and above, where and how […]

Business News

NGX resumes week bearish, down by 0.38%

The market negative performance was driven by price depreciation in large and medium capitalised stocks which are; Lafarge Africa, Vitafoam Nigeria, Unilever Nigeria, Dangote Sugar Refinery and United Bank for Africa (UBA). Analysts at United Capital Plc said: “This week, we expect the equities market to remain sideways, with a bearish bias, as we do […]