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NGX gains ₦237.8bn as FUGAZ banking stocks lead Friday

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Bolt food to end Nigerian operations by Dec 2023
News Tech

Bolt food to end Nigerian operations by Dec 2023

Nigerian users of the Bolt Food will no longer use the service as from December 7, 2023 as the company will be exiting Nigeria. In an effort to enhance its total efficiency and optimise its resources, the company announced its decision. Following an upsurge in demand for food delivery services during the epidemic, Bolt, which […]

IMF backs CBN on interest rate hike
Economy

China’s slowing economy will affect Nigeria – IMF

The International Monetary Fund has revealed that Nigeria’s economic situation is expected to be impacted by China’s slowing growth. The Punch reported that the IMF stated that Nigeria’s economy could be impacted by China’s recent decline in growth by an average of 0.5 percentage points because China has established strong economic linkages with sub-Saharan African nations […]

Manufacturers warn price hikes to persist without solutions
Business

MAN urges manufacturers to adopt technology

The Manufacturers Association of Nigeria has urged the real-estate sector to embrace innovative and disruptive technologies in order to remain competitive. The Punch stated that this was recently revealed by the association’s president,  Francis Meshioye, during a press conference to kick off this year’s Nigeria Raw Materials and Manufacturing Equipment Expo. “We must harness these innovations to foster self-sufficiency in […]

Indian firm increases Airtel stake with £57m share purchase
Business

Indian firm increases Airtel stake with £57m share purchase

A firm, Indian Continent Investment Limited has acquired £57.25m worth of shares to strengthen its ownership position in Airtel Africa. The Punch reported that the Mauritius-based Indian Continent Investment Limited purchased 53,500,000 Airtel Africa units at a cost of £1.07 per unit, according to a corporate notice it filed with the Nigerian Exchange Limited on Thursday. […]

PZ Cussons Nigeria Plc has convened an extraordinary general meeting of shareholders following a N73.8 billion loss that reduced the value of its net assets.
Business

PZ Cussons raises share buybacks to N23 per unit

PZ Cussons Nigeria Plc’s board of directors has raised the offer price for the proposed buyback of the company’s shares from minority shareholders from N21 to N23 per unit. The Punch reported that the new offer was mentioned in the most recent update on the situation, which was sent to the Nigerian Exchange Limited on Thursday. […]

Lagos seals illegal buildings at trade fair complex
News

Lagos seals illegal buildings at trade fair complex

The International Trade Fair complex in the Ojo region of Lagos State has had its illegal constructions sealed by the Lagos State Government. The Punch reported that the state government said in a statement on Wednesday that this was carried out following a special enforcement operation that was earlier conducted under the direction of the Commissioner for […]

Lagos bans night construction, sets 6pm deadline for daily work
Business

Lagos vows to attract foreign investors

The governor of Lagos State, Babajide Sanwo-Olu, has said that the state will take new steps to draw in foreign investment. According to The Punch, he made this statement recently at the Lagos Chamber of Commerce and Industry-hosted Lagos International Trade Fair. “While some view the youth population as a management challenge, I see great potential waiting […]

International Breweries awards N60m grant to young entrepreneurs
Business

International Breweries awards N60m grant to young entrepreneurs

International Breweries Plc has awarded a N60 million grant to 50 prospective young entrepreneurs through its subsidiary, International Breweries Foundation. According to The Punch, this was revealed during the recently held 8th Kickstart Awards Ceremony in Lagos, which had as its topic “From Ideas to Impact: Nurturing Young Entrepreneurs for Economic Growth.” Twenty-six women and twenty-four […]

Nigeria, Saudi sign MoU on energy cooperation
featured

Nigeria, Saudi sign MoU on energy cooperation

  Nigeria and Saudi Arabia inked a Memorandum of Understanding to enhance cooperation, information exchange, and technology transfer in the oil sector. According to The PUNCH, the Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, represented the Federal Government, and Prince Abdulaziz bin Salman, the Energy Minister of Saudi Arabia, signed for his country. […]

Flutterwave secures international transfers license in Malawi
Business

Flutterwave secures international transfers license in Malawi

Flutterwave, a Nigerian fintech startup, has received an International Money Transfer Operator license from the Reserve Bank of Malawi to allow international remittances in the country. According to The Times, the founder of Flutterwave, Olugbenga Agboola, revealed this in a message he posted on Thursday. He claimed that on Thursday, October 19, the IMTO license was approved, allowing […]

FG, AfDB discuss Coastal, trans-sahara highway projects funding
Business

Why Africa is key to global labour force supply – AfDB

The President of the African Development Bank Group, Dr. Akinwumi Adesina, has stated that Africa is the key for supplying the global labour force. He said this during the opening of the African Investment Forum organized by AfDB in Marrakech, Morocco with the theme: ‘Unlocking African Value Chains,’ said African economies witnessed real Gross Domestic Product […]

Google launches AI-powered search in Nigeria, other countries
News Tech

Google launches AI-powered search in Nigeria, other countries

Google has rolled out its AI-powered search experience worldwide, after initial launches in select markets, including the U.S., India and Japan. Search Generative Experience is an AI-based conversational experience that went live on Wednesday and is now available globally in over 120 new countries and territories, including Nigeria, American Samoa, Angola, Antigua & Barbuda, Bahamas, […]

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