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Tinubu blames privatization for current power sector crisis

Electricity featured

Nigeria isn’t poor, huge money moves below radar –

Finance

Access Holdings disowns unauthorised 2025 financial highlight release

Banking

South Africa’s inflation rises to 3.1% as cost pressures

Economy

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News

Yuletide: MTN, Airtel, others to earn big on increased call, data

  Telecommunications operators in Nigeria are expected to earn more revenue as a result of a projected rise in calls and data usage this festive period. According to Nairametrics, the financial records of MTN and Airtel, two of the country’s largest telcos, higher customer spending in December has always had a beneficial influence on their […]

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CBN bows to pressure, increases weekly withdrawal limit

The Central Bank of Nigeria has raised the weekly maximum limit for cash withdrawals by individuals and corporate entities through all channels to N500,000 and N5,000,000, respectively. In a letter sent to banks on Wednesday, the CBN disclosed this. Recall that the apex bank stated that the decision was based on input from stakeholders. The […]

Naira fall'll worsen Nigeria’s food, energy crisis — W’Bank
News

Debt: Zambia gets $100m from World Bank

  The World Bank announced on Wednesday that it would disburse $100 million for Zambia, despite significant delays in debt restructuring procedures as creditors drag their feet. According to The News Agency of Nigeria, Zambia received a 275 million USD grant from the World Bank in October to aid in its recovery from the COVID-19 […]

News

Nigeria’s wheat import suffers major fall – NBS

The National Bureau of Statistics has revealed that Nigeria imported durum wheat for N753.6 billion in the first nine months of 2022. According to the figures, this is a 16.1% decrease from the N898.2 billion in durum wheat imports during the same time in 2021. The fall in Nigerian wheat imports may be ascribed to […]

News

Senate approves business facilitation bill

The Senate on Tuesday, passed the Business Facilitation (Miscellaneous Provision) Bill 2022, also known as the Omnibus Bill. According to The Vanguard, this was after its earlier passage by the House of Representatives. This was disclosed by the Special Adviser to the President, Ease of Doing Business/PEBEC Secretary, Dr Jumoke Oduwole. According to him, the […]

Naira to fall N500 against dollar - NESG
News

Naira loses slightly against dollar by 0.26%

  The naira traded at 452.67 to the dollar in the Investors and Exporters window on Tuesday. According to The News Agency of Nigeria, the figures represent a 0.26 percent decline from the previous day’s exchange rate of N451.50. The open indicative rate reached a high of N448.80 to the dollar on Tuesday. Before it […]

Economy

Inflation: Experts urge CBN against tighter monetary policy

Experts have advised the Central Bank of Nigeria to withdraw from further deployment of monetary policy tightening as a tool to check the inflationary pressure.   According to Vanguard, Managing Director, Centre for the Promotion of Private Enterprise, Muda Yusuf, said this in response to the November 2022 inflation figure released by the National Bureau […]

News

5kg cooking gas now 37% higher than 2021 – NBS

The National Bureau of Statistics has revealed that Nigerians now pay 37.34% more to refill a 5kg cooking gas than the previous year.   The NBS made this known in its November 2022 LPG price watch report released on Monday.   According to the report, the average price of refiling a 5kg has risen to […]

Banking

Afreximbank launches TRADAR Club to boost African trade

African Export-Import Bank has launched TRADAR Club, a member-driven network aimed at empowering international businesses and executives to transform trade and investments within Africa.   Vanguard reported that Afreximbank’s Media representative, Amadou Sall, made this known in a statement on Monday in Abuja, during the operational launch of the TRADAR Club that featured a high-level […]

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Ghana halts payment on Eurobond, others

Ghana has declared a halt to debt service payments on its commercial loans, Eurobond loans, and bilateral debts. This was confirmed by the Ghanaian ministry of finance in a press release posted on its website. In order to allow for an orderly restructuring of the impacted liabilities, the government declared that it will stop making […]

Business

Tailors decry lack of patronage as price of materials soar

The high cost of materials have affected the price of sewing, the ripple effect being that tailors now experience low patronage, as many customers can’t afford the price hike.   Many tailors have reportedly abandoned the trade as a result, with the few sticking to it now doing direct marketing.   A yard of cotton […]

Naira redesign: CBN has my approval, Buhari clarifies
Agribusiness featured

Agricultural revolution created 13m jobs – Buhari

The President, Major General Muhammadu Buhari (ret.d), has stated that over 13 million direct and indirect employment have been created in Nigeria in the past seven and a half years, thanks to Nigeria’s agricultural revolution. The President revealed this in Washington DC, USA, at an interactive session titled “A chat with President Muhammadu Buhari of […]

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