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eNaira hits 905k downloads
Economy

eNaira hits 905k downloads

At least 905,588 Nigerians have downloaded the eNaira on the Apple and Google application stores, the Central Bank of Nigeria has said. This was disclosed by the apex bank’s Governor, Godwin Emefiele, during Tuesday’s Monetary Policy Committee. Emefiele added that although the eNaira app is close to one million downloads, only 282,600 users out of […]

Lagos restaurant Bukka Hut's co-founder Martins commits suicide
News

Lagos restaurant Bukka Hut’s co-founder Martins commits suicide

Investment banking expert, co-founder and executive director of popular Lagos eatery, Bukka Hut, Laolu Martin has passed away. Martins allegedly committed suicide in his home in the early hours of Tuesday morning, at 3 a.m., after giving up on his alleged long-fought battle with depression. Confirming his death on Wednesday, a family statement read, “We […]

100% cashless economy possible in Nigeria - Emefiele
Economy Uncategorized

CBN raises interest rate to 15.5%

To tame rising inflation, the Central Bank of Nigeria’s policy-setting committee has raised the monetary policy rate to 15.5 per cent from 14 per cent. According to The Cable, the MPR which measures interest rate was increased again on Tuesday after two consecutive increments in 2022. The monetary policy rate is the baseline interest rate […]

Livestock sector can generate N33trn annually - FG
Economy

Livestock sector can generate N33trn annually – FG

The Permanent Secretary of the Federal Ministry of Agriculture and Rural Development, Dr. Ernest Umakhihe, said that the cattle subsector in Nigeria has a significant economic potential worth over N33 trillion yearly. Speaking during the opening of the Edo chapter of the Animal Science Association of Nigeria, in Benin City, Edo State, on Monday, Umakhihe […]

AFDB approves €29 million infrastructural fund for Senegal 
News

AFDB approves €29 million infrastructural fund for Senegal 

The African Development Bank approved a total of €29 million for improvements to the road and transport network linking six Senegalese municipalities. As obtained via the official website of the organization, the loan, which was approved on the 20th of September, 2022, is meant to support the construction of 28 kilometres of urban roads in […]

Oil Theft: Nigeria loses $150m every two days
Oil and Gas

Oil price drops to $86/barrel

The worldwide price of Brent, the global benchmark for crude, Sunday dropped to $86 per barrel even as all oil grades witnessed reduced prices on the first day of the week. This development occurred amid the recent efforts of the Organization of Petroleum Exporting Countries to stabilize the cost of the commodity. OPEC’s September 2022 […]

World Bank punishes Nigerian firms, individuals for corruption
Economy

Nigeria has low ability to attract investment- World Bank

The World Bank has revealed that Nigeria has a low ability to attract both domestic and foreign investment as the nation’s economic outlook is uncertain. As obtained in a draft report for State Action on Business Enabling Reforms, which is available on its website, the Washington-based bank stated noted that the condition of welfare in Nigeria […]

UAE to supply Germany with gas, diesel
Oil and Gas Uncategorized

UAE to supply Germany with gas, diesel

The United Arab Emirates agreed Sunday an “energy security” deal with Germany to supply liquefied natural gas and diesel as Berlin searches for new power sources to replace Russian supplies. Emirati industry minister Sultan Ahmed Al Jaber called it a “landmark new agreement” that “reinforces the rapidly growing energy partnership between the UAE and Germany”, […]

TotalEnergies to invest $750m in LNG project in Nigeria
Oil and Gas

TotalEnergies boosts Qatar’s gas expansion with $1.5bn

France’s TotalEnergies on Saturday signed a further $1.5 billion investment in Qatar’s natural gas production expansion, which comes as Europe scrambles to find new energy sources to replace Russian supplies. The French energy giant will have 9.3 per cent stake in the North Field South gas project, the first foreign partner in that section of […]

Buhari unveils SDG financing framework
News

Buhari unveils SDG financing framework

The President, Major General Muhammadu Buhari (retd.) has unveiled a national template for advancing its commitment to the Sustainable Development Goals and the nation’s development aspirations. According to Nairametrics, Buhari while launching the Nigeria Integrated National Financing Framework Report on Sustainable Development stated that achieving the SDGs will mean ending poverty and hunger, safeguarding the […]

PenCom workers permitted to use pension for mortgage
News

PenCom workers permitted to use pension for mortgage

The National Pension Commission has started giving workers permission to use 25% of their Retirement Savings Accounts for mortgage. According to The PUNCH, this was disclosed by the agency on Friday via a press statement titled, ‘PenCom approves guidelines on accessing Retirement Savings Account balance, for payment of equity contribution for residential mortgage by RSA […]

News

Toyota shuts Russian factory over supply chain issues

Toyota announced Friday it was closing its assembly line near Saint Petersburg, in a new example of supply chain problems dogging firms operating in the sanctions-hit country. The industrial site spanning over 224 hectares (554 acres) suspended production in March, shortly after the start of Russia’s military operation in Ukraine. “Toyota has decided to stop […]

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