Binance to finance Elon Musk’s Twitter takeover with $500m
Cryptocurrency giant, Binance, has pledged $500 million equity to help finance Elon Musk’s takeover of Twitter. This is according to Cryptobriefing.com which cited an amended 13-D schedule filed with the…
Border reopening: Experts predict 60% rise in vehicle smuggling
Few days after the Federal Government announced the reopening of four land borders, stakeholders, including clearing agents and car dealers, have predicted a 60 per cent increase in the smuggling…
FG, Lagos’ll make $201bn revenue from Lekki port – Minister
The revenue to come to the Federal Government and Lagos State Government from the Lekki Deep Seaport located at the Lagos Free Zone is about N201bn, the Minister of Labour…
After spending over $8bn on Ajaokuta, Nigeria imports N837bn steel
Steelmakers are sceptical about the planned concession of Ajaokuta Steel Company Limited after Nigeria imported iron, steel, and metals valued at N837.761bn in the third and the fourth quarters of…
OPEC cuts 2022 oil demand over economic concerns
The Organisation of Petroleum Exporting Countries has revised the demand for crude oil in 2022 downward following the concerns around global economic growth. OPEC’s Secretary-General, Sanusi Barkindo, announced this at…
Nigeria’s equities market to remain positive in 2022, say analysts
Parthian Securities’ analysts have predicted that the Nigerian equities market will remain positive due to the increased participation of domestic players in 2022, despite being a pre-election year. Parthian Securities…
FG threatens port terminal operators over service fee
The Federal Government has said that proper implementation of the Practitioners Operating Fee will promote global competitiveness, threatening sanctions on operators who fail to comply with its collection. It said…
Twitter won’t be free for commercial, govt users, says Elon Musk
Elon Musk, on Wednesday, said Twitter commercial and government users may have to pay to use the micro-blogging platform. Twitter on Monday, April 25, confirmed the selling of the platform…
World Bank to review poverty index over inflation, others
The World Bank plans to revise the global poverty line from $1.90 to $2.15 due to increases in the costs of basic food, clothing, and shelter across the world. This…
Cooking gas: Nigeria needs $750m for 5MMT annual consumption
NIGERIA requires about $750m investment in the transportation and retailing infrastructure for Liquefied Petroleum Gas, popularly called cooking gas, to achieve the target of five million metric tonnes of annual…
Power firms owe banks N861.14bn amid electricity crisis
THE debt owed to Nigerian banks by operators in the power sector rose by 12.83 per cent in one year to N861.14bn in December 2021 amid the lingering problems plaguing…
Nigerians to pay more as telcos plan 40% tariff hike
Telecommunication companies are proposing a 40 per cent increase in the cost of calls, SMS, and data to the Nigerian Communications Commission as a result of the rising cost of…
