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Nollywood producers made 280 movies in Q1 2023 - Report
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Nollywood producers made 280 movies in Q1 2023 – Report

In the first quarter of the year, the Nigerian film industry, also known as Nollywood, produced 280 movies overall. This information was released in a statement on Tuesday by the Executive Director/CEO of the National Film and Video Censors Board, Alhaji Adedayo Thomas. Alhaji Adedayo Thomas also revealed that the data was gathered through the department’s first […]

Nigerians lament frequent pay-TV subscription hike
Business

Multichoice to increase cost of DSTV subscriptions May 1

Beginning on May 1, 2023, MultiChoice Nigeria will apply yet another price increase across all of its DStv bundles. This comes one year after it announced and carried out a comparable price increase review in April 2022. The price increases for the various DStv packages range from 16.3% to 18.6%, and the company claims that […]

Global giants Rockefeller, Bezos plan 10,000MW mini-grids in Nigeria
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FG disconnects power from national grid over rules violation

    The federal government announced announced on Tuesday that it had begun the process of disconnecting certain power companies from the national grid due to their violation of the Electricity Market Rules. The government did not identify the damaged power facilities but did clarify that the laws governing the Nigeria Electricity Supply Industry were […]

General Motors
Business

GM to stop Chevrolet Bolt EV production this year

General Motors announced on Tuesday that it will cease production of its Chevrolet Bolt electric vehicle later this year to prioritize zero-emission production of trucks and SUVs built on a new battery platform. According to GM’s CEO, Mary Barra, “We have progressed so far that it’s now time to plan to end the Chevrolet Bolt […]

Unilever Nigeria names Kleinebenne new MD
Business

Unilever Nigeria names Kleinebenne new MD

  Kazeem Owoseni The Board of Directors of Unilever Nigeria Plc has approved the appointment of Mr. Tim Kleinebenne, following the resignation of Mr. Carl Cruz as Managing Director, which takes effect from May 4, 2023. The appointment of Mr. Kleinebenne will take effect from May 5, shortly after the last day of Mr. Cruz, […]

London's financial jobseekers soar 19% amidst layoff fears
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London’s financial jobseekers soar 19% amidst layoff fears

London’s financial sector has seen a 19% increase in jobseekers in the first quarter of 2023, according to recruitment firm, Morgan McKinley. The surge in jobseekers has been attributed to heightened layoff fears after the collapse of US lender Silicon Valley Bank and the rescue takeover of Credit Suisse by UBS, putting thousands of UK-based […]

Dutch authorities fine Netflix €4.75m over data transparency breach
Business

Netflix to invest $2.5b in South Korean movies 

Netflix has announced plans to invest $2.5 billion in South Korea over the next four years to produce Korean TV series, movies, and unscripted shows, which doubles the amount the company has invested in the market since 2016. According to Reuters, the announcement followed a meeting between South Korean President Yoon Suk Yeol and Netflix […]

Business

Nigeria lost 66m oil barrels to theft in one year – IOCs

Nigeria has been unable to produce and sell approximately 65.7 million barrels of oil due to pipeline vandalism and oil theft since 2023. This has resulted in a loss of potential revenue of about N2.3tn at current exchange rates and average oil prices. According to The Punch, the Chairman of Shell Companies in Nigeria, Dr […]

Business

Aviation strike cost Nigeria billions of naira – Air Peace

The Chairman and Chief Executive Officer of Air Peace, Allen Onyema, said that Nigeria lost several billions of naira within those two days of industrial action by aviation union workers. He revealed this information during his appearance on Arise Television on Monday. This publication recalls that the aviation workers embarked on a warning strike last […]

World Bank approves $300m support package for Ghana's economic recovery
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Nigeria’s debt to World Bank hits N6trn

Under the administration of the President, Major General Muhammadu Buhari (retd.), Nigeria’s debt from the World Bank increased by 121.46% to six trillion. According to The Punch, Nigeria’s overall debt to the World Bank Group increased by $7.64 billion (or N3.52 trillion, using the Central Bank of Nigeria’s exchange rate, which was N460.53 per dollar as […]

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