FG invested $12.5m in Nigeria Air
The Federal Government's 5% ownership in Nigeria Air, the country's national airline, is worth $12.5 million. According to Nairametrics, this was disclosed by the Transaction Adviser to the project, Prof.…
World Bank lowers economic outlook over predicted recession
The World Bank lowered its economic outlook on Tuesday as a result of a "perilous" near-recession experience. In contrast to the 3% growth it forecast in June, the BBC now…
Load ATMs with new naira, CBN orders banks
The Central Bank of Nigeria has ordered commercial banks across the country to comply with its earlier directive to dispense the new naira notes on their Automated Teller Machines. …
Nigerian firm seals $750k solar deal
A Nigerian mini-grid participant named Husk Power Systems has secured finance for solar mini-grid projects in Nasarawa State totaling $750.000. According to Nairametrics, the loan was made accessible by a…
Tax experts oppose ASUU’s proposed 10% education tax
The Academic Staff Union of Universities' proposal to raise the tertiary education levy from three percent to ten percent has been criticized by tax experts. They argued that following this…
Africa youth entrepreneurship contest produces winners
Non-profit organization dedicated to developing young people, Junior Achievement Africa, has announced the winners of its significant high school entrepreneurship competition. The 12th annual Company of the Year competition, an…
Why bank stocks dropped by N141bn – Analyst
Market experts and analyst have explained why the banking sector performance ended the year out of the loop as five banks saw their value downed by 5.5 per cent from…
Oil production hit 1.235m barrels in Dec 2022 – NUPRC
The Nigerian Upstream Petroleum Regulatory Commission stated on Sunday that crude oil production in Nigeria increased to 1.235 million barrels per day in December 2022, the highest output since…
Nigerian real Estate stakeholders hail Canadian property policy
Real Estate Stakeholders have said that Canada’s decision to foreign property investors would positively impact the Nigerian real estate market. Recall, that the Canadian government on June 23, 2022,…
CBN’s cash withdrawal limit kicks off today
The Central Bank of Nigeria's policy restricting daily cash withdrawal is expected to start today, Monday, January 9. Under this new policy, the maximum weekly withdrawal limit for individuals…
Agents protest as customs hike imported vehicle duty
Following the Nigeria Customs Service's decision to increase duty on imported automobiles by 10%, freight forwarders have predicted a congestion at the nation's seaports due to the influx of imported…
Rising debt profile not sustainable, says OPS
The Lagos Chamber of Industry as well as the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture have stated that the current debt profile is not sustainable.…
