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Lagos fully prepared to implement Electricity Act - Commissioner
Business

Lagos fully prepared to implement Electricity Act – Commissioner

The Lagos State Commissioner for Energy and Mineral Resources, Olalere Odusote, has shown confidence in the state’s ability to carry out the 2023 Electricity Act. In a recent statement posted on social media, he claimed that the Babajide Sanwo-Olu government is totally dedicated to advancing the implementation of a strong Lagos Electricity Market. This entails creating a […]

Manufacturers warn price hikes to persist without solutions
featured

How 2023 Electricity Act will boost manufacturing sector – MAN

The newly passed 2023 Electricity Act is expected to benefit the country’s manufacturing industry, according to the Manufacturers Association of Nigeria. Nairametrics reported that the lack of proper access to electricity has long been a problem for Nigerian manufacturers, according to a statement from MAN. However, thanks to the Act, manufacturers will have easier access […]

Only four Nigeria states attract foreign investment in Q4 - Report
Business

Lagos ports processed 90% Nigerian exports in Q1 – NBS

In the first quarter of 2023, various ports in Lagos handled 97.13 percent of exports and 81.5 percent of imports, accounting for about 90 percent of all import-export transactions in Nigeria. Results from the National Bureau of Statistics Foreign Trade in Goods Statistics for Q1’23 reveal that N10.83 trillion, or 89.9% of Nigeria’s overall trade of N12.05 […]

Fuel subsidy is gone, Tinubu tells Nigerians
Opinion

Subsidy: Edwin Clark backs Tinubu, demands palliatives

By Wilson Adekumola   An elder statesman and South-South leader, Chief Edwin Clark, has backed President Bola Tinubu on fuel subsidy removal urging him to prioritise the provision of palliatives to cushion its effect.   The elder stateman made this disclosure while speaking with the News Agency of Nigeria in Abuja on Thursday.   President […]

45 Nigerian channels have over 1m subscribers - Youtube
News

45 Nigerian channels have over 1m subscribers – Youtube

YouTube, the video streaming website, has announced that 45 Nigerian-owned channels have surpassed one million subscribers on the platform, an achievement that promises more revenue for content creators. Nairametrics reported that it was revealed on Thursday at a celebration for the 2023 recipients of the #YouTubeBlack Voices Fund by YouTube’s Managing Director of Emerging Markets, […]

UN, WFP unveil $2.5bn plan to fight hunger in Nigeria
News

UN, WFP unveil $2.5bn plan to fight hunger in Nigeria

The United Nations World Food Programme has developed a $2.5 billion Country Strategic Plan to tackle rising hunger and malnutrition in Nigeria, Africa’s most populous country. Nairametrics reported that WFP Country Director, David Stevenson, revealed that regions in the North East, North West, and other chosen states are the focus of the initiative. In a joint press […]

United Capital endorses CBN's stakeholder partnership
News

CBN ends naira for dollar, issues new forex regulations

The Nigerian Central Bank has announced operational adjustments to the foreign exchange market. The Nigerian Foreign Exchange Market will no longer operate with segmentation, according to a statement from the central bank on Wednesday evening which was signed by its Director of Financial Markets, Angela Sere-Ejembi, and distributed to all authorized dealers and members of the […]

UAE ranks second worldwide for attracting millionaires
News

UAE ranks second worldwide for attracting millionaires

Recent research has revealed that the UAE is predicted to draw 4,500 millionaires by the end of 2023, the second-highest number of any country worldwide. Arab News reported that the expected growth will fall short of the record-breaking 4,000 millionaires in 2022, but it still gave the UAE its second place on Henley & Partners’ […]

BREAKING: Nigeria exchange rate plunges 29% in one day
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Nigeria exchange rate plunges 29% in one day

The official exchange rate between the Nigerian naira and the US dollar concluded at N664.04/$1 at the investor and exporter window, signifying a significant devaluation of 29% in a single day. This adjustment comes after the Central Bank of Nigeria allowed commercial banks and dealers to sell forex at market-determined rates, in line with President […]

Nigerian agrictech startup invests $100m in African smallholder farmers
Agribusiness

Nigerian agrictech startup invests $100m in African smallholder farmers

Nigerian agrictech startup, ThriveAgric has claimed to have invested more than $100 million to help 514,000 smallholder farmers increase food production in Africa. According to Nairametrics, this was stated by the corporation in its 2022 Impact Report. The agricultural company claimed that in order to achieve these ground-breaking achievements, it made use of its in-house […]

Nigeria has best return on investments, Tinubu tells Indian investors
News

Tinubu signs data protection Bill

President Bola Ahmed Tinubu has signed the Nigeria Data Protection Bill, 2023 into law.   The Nigeria Data Protection Act, 2023 provides a legal framework for the protection of personal information, and the practice of data protection in Nigeria.   The News Agency of Nigeria reported that this was disclosed by the National Commissioner, Nigeria […]

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