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inflation
Economy

43% homeowners delayed improvements due to inflation – Report

Sixty per cent of homeowners, in a recent survey, said they were less comfortable making large purchases for their homes or households because of rising prices, according to Hippo Insurance’s 2022 Homeowner Preparedness Report. Nearly 43 per cent either strongly (14.4 per cent) or somewhat (28.4 per cent) agreed that inflation had caused them to […]

News

RIMAN harps on enterprise risk management

The Risk Management Association of Nigeria has expressed its commitment to sustainability and enterprise risk management in organisations. It said this in a statement on its upcoming annual general meeting and conference with the theme, ‘Sustainability and Enterprise Risk Management: 2022 and beyond’ which would hold in Lagos. RIMAN, a professional body for risk management […]

Telecommunications

NIN: Telcos lose 12.33 million subscribers in 2021

The number of Internet subscriptions fell from 154.29 million as of December 2020 to 141.96 million as of December 2021, showing an eight per cent decline on a year-on-year analysis. This is according to the 2021 Subscriber/Network Data Annual Report released by the Nigerian Communications Commission on Thursday. The report read in part, “As at […]

Economy

Inflation to push 15 million Nigerians into poverty –World Bank

The World Bank has said that inflation shock is projected to push about 15 million more Nigerians into poverty between 2020 and 2022. The Washington-based bank said this in its latest Nigeria Development Update report, titled, ‘The Continuing Urgency of Business Unusual’. The report read in part, “Overall, the ‘inflation shock’ is estimated to result […]

News

7.6 million South Africans invest in crypto – Study

About 22 per cent of adults in South Africa are cryptocurrency investors according to a study by Kucoin. This translates to 7.6 million people aged between 18 and 60. The study also found that 65 per cent of crypto investors in the nation ‘consider crypto to be the future of finance.’ According to the report, […]

News

E-commerce offers growth opportunity for SMEs -Google rep

The Google Country Director for West Africa, Juliet Ehimuan, has said e-commerce presents an opportunity for small businesses in Nigeria and other African countries to attract new customers and grow. She disclosed this as google announced its plan to support small retail businesses on the continent as part of a month-long celebration of International Micro, […]

Nigerians bought petrol N191.65 per litre September- NBS
Oil and Gas

Petrol price rose to N173.08 in May –NBS

The National Bureau of Statistics says the average retail price paid by consumers for Premium Motor Spirit (petrol) increased to N173.08 in May. This is according to the NBS Premium Motor Spirit Price Watch for May, 2022 released in Abuja on Saturday. The report said the increase indicates a 2.99 per cent increase when compared […]

Energy

Nigeria endowed with 44 minerals in 500 locations – Minister

The Minister of Mines and Steel Development, Olamilekan Adegbite, has said that Nigeria is endowed with quality commercial minerals in over 500 locations across the country. Adegbite said this in his speech during the Nigerian Day at the 2022 Prospectors and Developers Association of Canada, International Convention, Trade Show and Investors Exchange in Canada. A […]

Ports and Airports

Maritime security: NIMASA takes delivery of unmanned aircraft

The Nigerian Maritime Administration and Safety Agency has taken delivery of additional mobile assets for enhanced maritime security under his deep blue project. According to the agency, two unmanned aircraft systems, nine interceptor patrol boats and 10 armoured vehicles have been added to the existing assets earlier procured by the Federal Government. Director-General, NIMASA, Dr […]

100% cashless economy possible in Nigeria - Emefiele
Economy

CBN’s intervention funds fuelling inflation, World Bank warns

The World Bank has said the Central Bank of Nigeria’s development finance intervention is fuelling inflation in the short term and weakening the ability of the apex bank to control inflation. According to the global bank, the CBN’s continued provision of subsidised funding to certain sectors has to slow down as it is undermining the […]

News

Energy firm marks 25th anniversary with tennis tournament

Rainoil Ltd an integrated energy company has promised to add value to sports development in the country. The Managing Director of Rainoil, Gabriel Ogbechie, made this known during the sports day organised by the company to mark its 25th-anniversary celebration. According to him, the company organises the Rainoil Annual Tennis Tournament which takes place at […]