ExxonMobil Nigeria names Shane Harris new chairman/MD
A major international oil company, ExxonMobil, has named Mr. Shane Harris as the new chairman, managing director, and chief country manager for its three Nigerian affiliates. Nairametrics reported that Richard…
New electricity tariff to begin July 1 — Report
Electricity tariff is set to increase by over 40 per cent in the coming days, a development which may eventually end all forms of energy subsidy in the country. …
Russia-Africa business synergy gains momentum – Report
Through the staging of bilateral and multilateral business conferences on both continents, there are signs that economic relations between Russia and Africa are advancing. Vanguard reported that earlier this month,…
CBN lifts cash deposit restriction on domiciliary accounts
The restrictions on domiciliary accounts have been abolished by the Central Bank of Nigeria. The Punch reported that the CBN released in a statement on Sunday that the new regulations gave account…
How self-generated power costs manufacturers N144.5bn in one year
With the cost of self-generated power in the industry skyrocketing to N144.5 billion in 2022, up 87.13 percent from N77.22 billion in 2021, the near collapse of the public energy…
Stock market jumps by 5.5% as forex reforms begin
The stock market increased by 5.5 percent last week as a result of the federal government's launch of the Foreign Exchange market reform. Vanguard reported that on Wednesday, June 15,…
FCT IRS warns contractors against tax remittance error
Ministries, Departments, Agencies, and contractors operating in the Federal Capital Territory of Nigeria have been asked by the FCT-IRS to properly submit Withholding Tax. According to FCT-IRS, WHT for limited…
CBN approves eNaira as payment option for diaspora remittance
The Central Bank of Nigeria announced that it has given recipients of diaspora remittances the opportunity to make payments using its digital currency, also known as the eNaira. Nairametrics reported…
Tweeps react as Dangote loses Africa’s richest man to South-African billionaire
South African billionaire, Johann Rupert, has ousted Nigerian billionaire businessman, Aliko Dangote, to become Africa’s richest man. According to Forbes Real-time Global Billionaires Ranking, Rupert’s net worth is currently…
Elon Musk reclaims spot as world’s richest man
The CEO of Tesla, Elon Musk, now has a net worth of about $233 billion, surpassing Bernard Arnault, CEO of LVMH, who has a net worth of $202 billion, according…
India to overtake China as Nigeria’s top trading partner – Report
In the coming decade, India is expected to overtake China as Nigeria's top trading partner, according to a report by Standard Chartered and its partners. Nairametrics reported that the "Future…
Why Nigeria is Africa’s top culinary tourist destination – NIHOTOUR
Nigeria is the most competitive culinary tourist destination in Africa, according to the Director-General of the National Institute for Hospitality and Tourism, Alhaji Nura Kangiwa, because of its diverse ethnic…
