UK FDI deals to yield $300m for Nigeria
The United Kingdom and Nigeria on Tuesday held trade and investment talks at the Economic and Development Forum in London, to promote trade and boost a partnership worth over £3bnn.…
SIM-NIN: Telcos lose N76bn, subscribers stranded
Telecommunication companies have lost about N75.78bn as subscribers struggle to link their National Identification Number to the Subscriber Identity Module, about 22 days after the Federal Government directed telecom companies…
Clearing agents kick as Customs re-introduces e-valuation next week
Clearing agents operating in the nation’s maritime sector have kicked against the planned re-introduction of e-valuation of imported vehicles by the Nigeria Customs Service next week. At the launch of…
Oil production: Nigeria leads Q1 shortfall, World Bank cites sabotage
The World Bank has said Nigeria has the largest shortfall among oil-producing countries due to sabotage within the oil production system and other factors, such as low investments and the…
Economic crisis worsens as forex inflows fall by $9.58bn
Foreign exchange inflows into the economy declined in the fourth quarter of 2021, owing to lower receipts from the Central Bank of Nigeria and autonomous sources. This is an indication…
Ikoyi bridge: Lagos makes case for toll collection
The Lagos State Government has made its case for its legal right to collect tolls on the Lekki-Ikoyi Link Bridge, stressing that tolling on the link bridge is lawful. The…
10 banks raked in N1.57tn interest income in 2021 – Reports
Ten Deposit Money Banks in Nigeria earned a total of N1.57tn in net interest income last year, up from N1.49tn as of December 31, 2020. They are Union Bank Plc,…
Twitter: Musk mulls free speech after $44bn purchase
Elon Musk has agreed a deal to buy Twitter for about $44bn. This was confirmed on Monday after Twitter agreed to be taken over at $54.20 a share. Speaking on…
Nigeria has 70% road infrastructure deficit, says minister
The Minister of Mines and Steel Development, Olamilekan Adegbite, has disclosed that Nigeria has about 70 per cent road infrastructure deficit while stressing the need for the country to boost…
Over $10bn food production at risk in Nigeria, others –AfDB
The African Development Bank Group President, Dr Akinwumi Adesina, says a fertiliser crisis triggered by the Russian war in Ukraine could put more than $10bn worth of food production at…
Rising insecurity, naira fall worsening business environment – NGF
The Director-General, Nigeria Governors’ Forum, Mr Asishana Okauru, says worsening insecurity and currency depreciation have been adversely affecting the business environment and taxable income in Nigeria. The NGF DG, who…
FG shortlists bidders for 12 highways in Lagos, Kano, others
The Federal Government on Monday announced that it had identified preferred/reserved bidders for 12 federal highways up for concession under the Highway Development and Management Initiative. It said this was…
