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UK economy hits unexpected growth

Reforms position Nigeria as emerging investment hub –

  • 15th May 2025
Ogun cargo airport to employ 25000 youths on completion - Dapo Abiodun

Mamuda Beverages invests $50m in new industrial facility

  • 14th May 2025

Nigeria ships first Obodo crude blend, says NUPRC

  • 14th May 2025
UK expands work visa sponsors for Nigerians

UK unveils major visa overhaul to cut legal

  • 11th May 2025

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Cruise passengers caught smuggling 750 cigarette cartons in US

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Chinese hackers hack US Commerce chief's emails

Hackers bribed our staff to access customer data –

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Indonesia relaxes visa rules, extends multiple-entry stay to six

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Nigeria’s inflation drops to 23.71% in April

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Apple partners Anthropic on AI-Powered 'vibe coding' platform
Tech

Apple, Samsung benefit as Trump excludes key electronics from tariffs

President Donald Trump’s administration exempted smartphones, computers, and other electronics from its so-called reciprocal tariffs, aiming to shield consumers from price hikes and support major tech firms like Apple Inc. and Samsung Electronics Co. The exclusions cover smartphones, laptops, hard drives, computer processors, and memory chips—popular electronics that are largely not produced in the U.S., […]

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FG, Japan partner to foster entrepreneurial growth, innovation

The Federal Government of Nigeria has signed a Memorandum of Understanding with the Government of Japan to support business start-ups and promote innovation across the country. As part of the agreement, groundbreaking projects valued at $30.9 million will be implemented, including a key initiative—the Development of the Start-up Hub—spearheaded by the National Information Technology Development […]

VFD Bank Records ₦366m profit in 2024, reverses two-year loss
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VFD Bank Records ₦366m profit in 2024, reverses two-year loss

VFD Microfinance Bank, the digital-first banking arm of VFD Group Plc, has posted a profit of ₦366 million ($232,233) for the 2024 financial year, marking a sharp turnaround from a ₦211 million ($132,739) loss recorded in 2023. The improvement also represents a significant leap from the modest ₦1.8 million ($1,127) profit reported in 2022, according […]

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Fitch upgrades Nigeria’s rating to ‘B’ amid reform push

Fitch Ratings has upgraded Nigeria’s Long-Term Foreign-Currency Issuer Default Rating from ‘B-’ to ‘B’ and assigned a stable outlook to the country. According to Fitch Ratings’ assessment published on its website on Friday, the upgrade reflects growing confidence in Nigeria’s commitment to broad policy reforms initiated since the shift to orthodox economic policies in June […]

News

Crude oil reserves hit 37bn barrels, gas jumps to 210.54TCF – NUPRC

The Nigerian Upstream Petroleum Regulatory Commission has revealed the country’s official petroleum reserves, showing a total of 37.28 billion barrels of crude oil and condensate, as well as 210.54 trillion cubic feet of natural gas. This was disclosed on Friday in a press release titled “The Declaration of Annual National Petroleum Reserves Position as of […]

AfDB President Adesina criticizes border opening for food imports
News

Adesina slams Nigerian banks for neglecting innovative youth-led businesses

The President of the African Development Bank, Akinwumi Adesina,has criticized commercial banks in Nigeria and across Africa for not adequately supporting young entrepreneurs. In an interview with Channels TV on Thursday, he stated that the current banking system is not structured to help youth with innovative ideas access the capital they need. Adesina emphasized that […]

News

FG inaugurates new Galaxy Backbone board to accelerate digital transformation

The Federal Government has inaugurated a new Board of Directors for Galaxy Backbone Limited, Nigeria’s ICT infrastructure provider, to advance the country’s digital economy agenda. The inauguration ceremony was held at the Office of the Secretary to the Government of the Federation (SGF) in Abuja and was presided over by Senator Dr. George Akume, who […]

JP Morgan to establish full-fledged branch in Nigeria
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JP Morgan warns investors, raises concerns over Nigeria’s economic stability

J.P. Morgan has advised investors to exit long positions in Nigerian Open Market Operation bills, citing concerns over Nigeria’s economic stability. In a research note dated April 9, 2025, the investment bank warned that falling oil prices and renewed trade tensions could deepen the country’s macroeconomic vulnerabilities. As Brent crude approaches sub-$60 levels, J.P. Morgan […]

NITDA to develop blockchain "Nigerium" for data Security
Business

Nigerian tech development hits N34.3bn growth in 2024

Several Nigerian banks reported strong profit growth in 2024, which is significantly benefiting the country’s technology ecosystem as their contributions to the Nigeria Information Technology Development Fund rose by 57% year-on-year, reaching N34.3 billion. The contributions from Zenith Bank Plc, Guaranty Trust Holding Company Plc, United Bank for Africa Plc, Fidelity Bank Plc, Stanbic IBTC […]

Business

China strikes back, raises tariffs on US goods to 125%

China responded on Friday to United States President Donald Trump’s tariff hikes by raising its own tariffs on American goods from 84% to 125%, according to the Chinese finance ministry. The ministry said, “Even if the U.S. continues to raise tariffs, it will no longer be economically meaningful and will go down as a joke […]

MTN Nigeria plans public offer to sell 11% stake
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MTN Nigeria plans public offer to sell 11% stake

MTN Group has announced plans to reduce its stake in MTN Nigeria through a public offer once the subsidiary returns to profitability. The move aligns with the company’s longstanding strategy to broaden local ownership in its most lucrative market. Speaking at an editors’ roundtable this week, MTN Group President and CEO Ralph Mupita confirmed the […]

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