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Otedola asks top First Bank official to resign over 'wasteful party'
featured

Otedola buys 5.52% of Transcorp

A 5.52 percent stake in the domestic conglomerate, Transcorp Corporation Plc, has been acquired by Femi Otedola, a millionaire businessman, according to the company’s disclosure. This information came in the wake of rumors that Otedola had purchased a sizeable position in the conglomerate, whose shares have seen intense trading on the Nigerian Exchange Limited since last week, […]

How Nigeria can catch up industrialized nations with new gas policy - NLNG
Oil and Gas

How Nigeria can catch up industrialized nations with new gas policy – NLNG

The Chief Executive Officer of the Nigerian Liquefied Natural Gas Limited, Dr. Phillip Mshelbila, says he is optimistic that Nigeria’s Decade of Gas policy if successfully implemented as planned, will allow the country to catch up to the developed and industrialized nations of the world. Mshelbila added that the federal government would need to pledge […]

EU invests €3bn, generates 160,000 jobs in Nigeria yearly - Ambassador
Business

EU investigates Gucci, others for possible violations

The European Union antitrust regulators on Thursday began investigating a Gucci facility in Milan as part of a broader investigation that covers several countries. According to Reuters, the scrutiny follows concerns over Europe’s booming luxury goods industry. The inspection at the luxury brand’s facility in Milan focuses on possible violations of Article 101 of the […]

The Black, Red and Yellow Germany's National flag
Business

Germany bank Deutsche moves to reduce workforce

The largest bank in Germany, Deutsche Bank, is reportedly planning to reduce the number of members on its executive board from 10 to nine. Additionally, the bank is said to be looking to cut some jobs in its infrastructure and private banking businesses in an effort to save costs. According to Reuters, these measures come […]

NASS committee orders Sirika to halt demolition of aviation offices
Aviation

NASS committee orders Sirika to halt demolition of aviation offices

The Joint Committee on Aviation of the National Assembly issued a directive to Senator Hadi Sirika, the Minister of Aviation, on Wednesday, ordering him to halt the planned demolition of the aviation agencies’ offices in Lagos. The clerk of the Senate Committee on Aviation, Franca Mbah, and her House of Representatives counterpart, Bassey Edem, both signed a letter addressed to […]

Nigerian Content Development and Monitoring Board
Business

Nigerian content development board trains wemon entrepreneurs

The Nigerian Content Development and Monitoring Board disclosed that it organized a two-week training session for Women Business Leaders and Entrepreneurs. According to The Punch, the training which was under the umbrella of Women in Oil and Gas was held in Port Harcourt. According to the Manager of Human Capital Development of the Capacity Building […]

Elon Musk discloses plans for self-driving cars
Uncategorized

Tesla short sellers make $2bn in April 

A research firm, S3 Partners, reported on Wednesday that short sellers of Tesla have made $2.16 billion in profits from mark-to-market for the month of April. However, short sellers are still experiencing $5.52 billion in mark-to-market losses for the year so far. The term mark-to-market means calculating the current value of an asset or liability […]

FG considers tobacco tax hike to meet WHO standards
News

FG considers tobacco tax hike to meet WHO standards

In a bid to meet World Health Organization standards, Nigeria’s Federal Government has announced plans to raise taxes on tobacco products from 30 to 50 per cent. This was revealed by the Head of Tobacco Control Unit, Noncommunicable Disease Division, Dr Mangai Malau, during the National Tobacco Control Budget Advocates Meeting in Abuja. During the […]

Nigeria's textile imports hit N365bn despite efforts to revive local industry
E-commerce

Nigeria’s textile imports hit N365bn despite efforts to revive local industry

Nigeria’s imports of textiles have more than doubled in just two years, reaching a 15-year high despite efforts to revitalize the industry. The National Bureau of Statistics data revealed that from N182.5 billion in 2020 to N365.5 billion in 2022, the importation of textiles and textile-related products increased by 100.3% which was the highest level in […]

International Labour organization
Business

ILO to partner Nigeria on trade test certifications 

International Labour organization plans to engage the Nigerian government, workers’ unions, and social partners to address the issue of migrants obtaining trade test certifications, enabling them to secure jobs with ease when travelling abroad. According to The Punch, the ILO Project Coordinator, Celestine Okeke, made this known during a communication and visibility programme in Lagos […]