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Nipco launches autogas dispensing station in Abuja
Oil and Gas

Nipco launches autogas dispensing station in Abuja

Nipco Gas Limited has announced the opening of an auto Compressed Natural Gas station in Kubwa, Abuja, which will supply affordable and ecologically friendly transportation fuel. The PUNCH reported that the station began operations over the weekend, according to the company, and it is an affirmation of the company’s desire to ensure widespread availability of car […]

Transcorp Hotels becomes first Nigerian firm to pass N1tn market cap
Business

Transcorp Hotel, tech firms record highest returns

Transcorp Hotels Plc provided investors with a higher return on investment in terms of capital gain in 2023 when compared to other companies listed on the Nigerian Exchange Limited. According to The PUNCH, the hospitality/tourism industry began the year at N6.25 per unit and completed the year at N70.18 per share. This amounted to a […]

FDI drops $471m in five years - NBS
Business

FDI drops $471m in five years – NBS

Foreign direct investments into Nigeria have decreased by $470.8 million over the last five years. This followed analysis of various National Bureau of Statistics Capital Importation reports. According to Investopedia, FDI is an investment in a foreign firm or project made by a foreign investor, company, or government. The NBS reported on Friday in its […]

Dangote refinery investors gain N1.2tn in two days
Oil and Gas

P’Harcourt refinery to supply 12 states

The Nigerian National Petroleum Company Limited has begun supplying crude oil for the Port Harcourt Refining Company Limited’s test run. The PUNCH reported that oil marketers confirmed the news, stating that the plant would sell refined Premium Motor Spirit, also known as petrol, Automotive Gas Oil, also known as diesel, and other products to 12 […]

LCCI predicts reduced inflation in 2024
Business

LCCI predicts reduced inflation in 2024

The President of the Lagos Chamber of Commerce and Industry, Gabriel Idahosa, forecasts that the country’s inflation rate will decrease in 2024. The PUNCH reported that Idahosa who was speaking in an exclusive interview on Friday, blamed the loss of gasoline subsidies for the acceleration of inflation this year. According to the LCCI president, if governments at all levels […]

Stakeholders praise NSC over planned Nasarawa dry port
Business

Stakeholders praise NSC over planned Nasarawa dry port

Maritime players have applauded the Nigerian Shippers Council’s plans to build an inland dry port in Nasarawa State. The PUNCH reported that Rotimi Hassan, the Managing Director of Kaduna Inland Dry Port, Rotimi Hassan, praised the NSC’s decision. He said, “It is a good move by the government, but I would also advise the government to look […]

News Tech

Nigerian startups that shut down in 2023

The year 2023 proved to be turbulent for startups in Nigeria. Naira devaluation, funding scarcity, and the state of the economy all had a role in the demise of Nigerian startups this year, despite having raised over $70 million in investor capital in the previous two years by these startups who have shut down or […]

News

333,947 Nigerians filed metering, billing complaints – NERC

  Bisola David The Federal Government has stated that power customers filed 333,947 complaints with their various distribution companies during a three-month period regarding metering, billing, and service interruption. According to The PUNCH, it was revealed in the Nigerian Electricity Regulatory Commission’s recent third quarter report, which stated that the complaints were submitted in the months […]

World Bank approves $300m support package for Ghana's economic recovery
Economy

Nigeria, others most affected by high food inflation – W’Bank

The World Bank has revealed that domestic food price inflation has had the greatest impact on Nigeria and other African, North American, and Latin American countries. According to The PUNCH, the multilateral lender’s recently released Food Security Update revealed that while domestic food price inflation remained high, 61.9 per cent of low-income nations faced inflation more than 5 per […]

Dangote, two other billionaires lost $9.3bn in 2023 - Report
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Dangote, two other billionaires lost $9.3bn in 2023 – Report

The Forbes’ Real-Time Billionaires list has revealed that three Nigerian billionaires – Aliko Dangote, Abdulsamad Rabiu, and Mike Adenuga’s combined wealth would fall by $9.3 billion in 2023. The Forbes’ wealth-tracking tool gives ongoing updates on each individual confirmed to be a billionaire’s net worth and ranking. When relevant stock markets are open, the value of individuals’ […]

FTX CEO Sam Bankman-Fried appeals imprisonment
News Tech

FTX’s Sam Bankman-Fried will not face second trial – Prosecutors

Sam Bankman-Fried, who was found guilty last month of stealing from clients of his now-bankrupt cryptocurrency exchange FTX, will not face a second trial, according to U.S. authorities. Prosecutors claimed that the advantages of a second trial were outweighed by the “strong public interest” in a speedy settlement of their case against the 31-year-old former […]

FX payments rose to $1.3bn in February - CBN
Business

FX market sees 10.94% turnover surge in nov 2023

Spot FX market turnover in November 2023 was $5.17 billion (N4.33 trillion), a 10.94% ($0.51 billion) increase from the turnover reported in October 2023 ($4.66 billion). The Times reported that this was revealed in the FMDQ Markets Monthly Report for October. According to the study, the Naira depreciated against the US Dollar in the FX […]

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