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Electricity metering hits 59.69% as DisCos add 349,357

  • 4th August 2026

Prioritise infrastructure execution over bigger budgets – Okonjo-Iweala

  • 4th August 2026

FG to halt crude oil exports, bets on

  • 4th August 2026

African startups raise $102m in lowest month since

  • 3rd August 2026

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Naira appreciates to ₦1,408/$ in parallel FX market

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NEC approves $4.5bn project Gazelle 2 refinancing deal

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Workers union demands meeting with Oyedele over unpaid wage

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Blog

10 things you should know about online shopping
E-commerce

10 things you should know about online shopping

Online shopping has revolutionized the way we shop, bringing convenience and a world of choices right to our fingertips. With a few clicks, we can explore an endless array of products and have them delivered to our doorsteps within days. However, this modern marvel of shopping also comes with its share of challenges and potential […]

Tesla grants Elon Musk $29bn in shares
News Tech

Elon Musk’s X platform hits milestone

Elon Musk announced on Friday that the number of monthly users of social media site X, formerly known as Twitter, had achieved a “new high” and published a graph displaying the most recent figure of over 540 million. Musk made the user statistics post on X as the firm underwent organisational changes and sought to […]

UBA begins $6bn project to support African SMEs
Banking

Subsidy: UBA approves benefits for all employees

The United Bank for Africa Plc Board has approved a welfare allowance for every employee. The decision was made to lessen the impact of the elimination of the fuel subsidy as workers adapted to the current economic difficulties. According to the Bank’s press statement, the welfare allowance is effective right away. The bank has adopted a second […]

Nestle Nigeria reports N123.7 bn FX loss
Business

Nestle Nigeria reports N123.7 bn FX loss

Nestle Nigeria Plc has announced a pre-tax loss of N86.5 billion for the fiscal second quarter ended June 30, 2023. As a result of the losses, Q1 gains were completely erased, bringing the half-year profits to N61.6 billion, which was one of the worst results in recent memory. The main cause of Nestle Nigeria’s losses was a […]

MTN internet subscription declines over NIN-SIM linkage
Business

MTN suffers N131bn FX loss, earnings drop by 64%

MTN Nigeria Plc’s 2023 second-quarter results have revealed that pre-tax profits decreased dramatically by 64% to N44.6 billion. As a result, its half-year profits decreased to N200.3 billion from N268.6 billion during the same period in 2022. Like the majority of Nigerian businesses, MTN also had a N131.4 billion foreign exchange loss, which reduced profitability. […]

Banks record N72bn from account maintenance
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Banks provide $533.48m for foreign education

The Central Bank of Nigeria has received $533.48 million from banks to be used towards international education. The Punch reported that the sum of the funds disbursed between October 2022 and March 2023 was used to calculate the figure that was taken from the central bank’s most recent statistical bulletin. However, experts anticipate that given the CBN’s […]

Gas flare fine hits N44.4bn in six months - FG
Oil and Gas

Gas flare fine hits N44.4bn in six months – FG

The Federal Government reported on Friday that the entire gas flare fines collected from oil and gas businesses since January 2023 is $85.1 million, or N44.4 billion at the time’s average exchange rate of N521.2 to the dollar. According to the Punch, as flare fees were intended to serve as a deterrent to encourage greater compliance and the […]

French regulator questions Worldcoin’s data collection
News Tech

French regulator questions Worldcoin’s data collection

The French privacy authority CNIL has stated that Worldcoin’s collection of biometric data “seems questionable” in terms of legality. Users of the new Worldcoin platform which was founded by OpenAI founder, Sam Altman must scan their irises in order to receive a digital ID and, in some countries, free Bitcoin. According to its website, during […]

Equity market retail participation hits 35% in September - NGX
Business

Nigerian Exchange Group records 63% profit decline

Nigerian Exchange Group’s Q2 2023 results for the period ending June 2023, pre-tax earnings decreased by 63% YoY to N319 million in Q2. Additionally, during the same time period, the company’s earnings after taxes fell significantly by 66% YoY to N225 million. Key highlights: Total income down 11.14% YoY to N2.125 billion  Transaction Fee: 53.83% […]

FG summons cement manufacturers over price hike
Business

BUA records 26.52 profit rise in Q2 2023

BUA Cement’s Q2 2023 results for the time period ending June 2023 has shown that earnings before tax increased by 26.52% annually to reach N40.963 billion. Additionally, during the same time period, the cement company’s earnings after tax increased by 30.45% YoY to N36.815 billion. Thus, the earnings per share for the second quarter came to […]

Business

BUA records 26.52 profit rise in Q2 2023

BUA Cement’s Q2 2023 results for the time period ending June 2023 has shown that earnings before tax increased by 26.52% annually to reach N40.963 billion. Additionally, during the same time period, the cement company’s earnings after tax increased by 30.45% YoY to N36.815 billion. Thus, the earnings per share for the second quarter came to […]

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