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UK modifies trading laws for Nigeria, 65 others
News

UK modifies trading laws for Nigeria, 65 others

The government of the United Kingdom has drastically streamlined trade regulations for Nigeria and 65 other African countries. Vanguard reported that the UK will eliminate taxes on products including tomatoes, chocolate, and other items under the new regulations. The move will help the country’s firms and consumers save millions of British Pounds each year under its […]

NAFEM: Dollar supply hits 180% as banks sell $440m
Economy

Naira dips further to N770.38/$ at I&E window

The Naira, on Monday, depreciated by 16 per cent to N770.38 per dollar in the Investors and Exporters window, after an increased demand for dollars as a result of its acute supply shortage.   Data from the Financial Market Infrastructure Group Warehousing showed that the indicative exchange rate for the window rose to N770.38 5 […]

PHOTOS: Tinubu meets Airtel board in Aso Villa
News

PHOTOS: Tinubu meets Airtel board in Aso Villa

  Kazeem Owoseni The President, Bola Ahmed Tinubu on Monday, held a meeting with members of the Airtel board at the Presidential Villa Abuja. The President who disclosed this through his Twitter handle on Monday night, revealed that his administration is always ready to discuss with investors, who are ready to commit resources to the […]

Again, FrieslandCampina Wamco drags down NASD OTC market
Business

Why we invest in Nigeria’s dairy sector – Peak Milk maker

FrieslandCampina WAMCO has asserted that its product line includes only Nigerian-made goods and that Nigeria’s dairy sector is worth investing in. The managing director of WAMCO, Mr. Ben Langat, revealed this in an interview and added that FrieslandCampina WAMCO is Nigeria’s leading dairy company and that its flagship product, Peak Milk, is Nigeria’s leading milk […]

Dangote, Bill Gates meet Tinubu in Aso Villa
Business

Dangote, Bill Gates meet Tinubu in Aso Villa

Kazeem Owoseni President Bola Ahmed Tinubu is meeting with the Chairman of the Dangote Group, Alhaji Aliko Dangote and Bill Gates, co-founder of Microsoft, at the State House in Abuja. Reports revealed that the details of the meeting between the president and these two influential people were unknown Dangote revealed last week that he had […]

USAID promotes $205m investments in Nigerian agricultural enterprises
Business

USAID pledges $3m to African Water Facility

The African Water Facility has received a $3 million commitment from the United States Agency for International Development. According to Nairametrics, this was stated in a press release published on the website of the African Development Bank. A statement in the funding agreement revealed that the facility will support the planning of water and sanitation investment […]

ExxonMobil Nigeria names Shane Harris new chairman/MD
Appointments

ExxonMobil Nigeria names Shane Harris new chairman/MD

A major international oil company, ExxonMobil, has named Mr. Shane Harris as the new chairman, managing director, and chief country manager for its three Nigerian affiliates. Nairametrics reported that Richard Laing, a seasoned executive with more than 30 years of service to the organization, retired shortly after the decision was made. ExxonMobil emphasized the significance […]

FG owes N100bn electricity bill debt - Distributors
Electricity

New electricity tariff to begin July 1 — Report

Electricity tariff is set to increase by over 40 per cent in the coming days, a development which may eventually end all forms of energy subsidy in the country.   According to Guardian, the hike is expected to kick off from July 1, in spite of the government’s monthly subsidy of about N50 billion in […]

Russia and Africa
Business

Russia-Africa business synergy gains momentum – Report

Through the staging of bilateral and multilateral business conferences on both continents, there are signs that economic relations between Russia and Africa are advancing. Vanguard reported that earlier this month, the “Geopolitical transformation: challenges and opportunities for business” conference between Moscow and Algeria was held in Algiers, where the presentation of the second summit, Russia-Africa […]

Manufacturers warn price hikes to persist without solutions
Energy

How self-generated power costs manufacturers N144.5bn in one year

With the cost of self-generated power in the industry skyrocketing to N144.5 billion in 2022, up 87.13 percent from N77.22 billion in 2021, the near collapse of the public energy supply system has made doing business in Nigeria’s manufacturing sector more difficult. According to Vanguard, findings suggest that the problem might have gotten worse this […]

Banks dollar sale drops as naira falls to N1,479
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Stock market jumps by 5.5% as forex reforms begin 

The stock market increased by 5.5 percent last week as a result of the federal government’s launch of the Foreign Exchange market reform. Vanguard reported that on Wednesday, June 15, 2023, the government announced steps to liberalize the foreign exchange market. The initiatives included the abolition of all market segmentations and the elimination of numerous […]

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