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Benue govt okays ₦294.53m for malaria chemo-prevention campaign

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Domestic transactions on NGX hit record ₦10.68trn in July

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Naira strengthens to ₦1,346.90/$ amid surge in FX activity

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Global stocks surge to best week since August

Global stock markets are on track for their best week since August, with investor sentiment buoyed by U.S. President Donald Trump’s decisive election victory and a fresh round of fiscal stimulus from China aimed at supporting its struggling economy. Following the U.S. Federal Reserve’s anticipated quarter-point interest rate cut, market attention shifted to the aftermath […]

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Data depletion, billing issues top consumer complaints – NCC

The Nigerian Communications Commission has identified data depletion and billing issues as the leading complaints among telecom consumers in Nigeria, attributing these challenges to the complexity of telecom tariffs and billing systems. The Executive Vice-Chairman of the NCC, Dr. Aminu Maida made this disclosure during the 93rd edition of the Telecom Consumer Parliament held on […]

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ChitChat unveils remittance service in 13 countries

ChitChat, a leading African social commerce platform, has unveiled a new remittance feature designed to enable seamless cross-border money transfers across 13 countries worldwide. The feature, announced in a statement on Thursday, enhances the financial services available to users within chat conversations and expands the functionality of the platform’s multicurrency wallet and USD virtual debit […]

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SON, NMDPRA responsible for certifying imported petrol – Oil Marketers

The Standards Organisation of Nigeria and the Nigerian Midstream and Downstream Petroleum Regulatory Authority are responsible for certifying imported Premium Motor Spirit, commonly known as petrol, according to oil marketers. This statement came in response to claims by Dangote Petroleum Refinery that off-spec petroleum products were being imported into the country by dealers. On Tuesday, […]

Jumia appoints Anthony Mbagwu as JumiaPay MD
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Jumia records $20m operating loss in 2024 Q3

Jumia Technologies, Africa’s leading e-commerce platform, reported a challenging third quarter for the period ending September 30, 2024, with an operating loss of $20.1 million. The company, which has been operating for 12 years, disclosed the results in its financial report released on Thursday. The e-commerce giant attributed the loss to persistent macroeconomic pressures, which […]

Onne customs reports N643bn revenue for 2024
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Customs seize 16 containers of illicit drugs

The Nigeria Customs Service, Tincan Island Command, has announced it intercepted 16 containers containing illicit substances, unregistered pharmaceutical products, and other prohibited items, discharged between May 17 and October 23, 2024. The total duty-paid value of the seized goods is estimated at N4 billion. Customs Area Controller for the Tincan Island Command, Dera Nnadi, disclosed […]

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Why national grid collapsed again- TCN

The Transmission Company of Nigeria has attributed Thursday’s nationwide power grid collapse to ongoing repair works in the sector. In a statement, TCN spokesperson, Ndidi Mbah explained that the disturbance occurred at approximately 11:29 am, when the national grid experienced a sudden frequency rise from 50.33Hz to 51.44Hz. Mbah further clarified that the disruption was […]

NNPCL sets fuel price above N1000 per litre
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NNPCL dismisses claims of selling adulterated petrol

The Nigerian National Petroleum Company Limited has refuted claims circulating on social media that the company is selling adulterated Petroleum Motor Spirit, known as petrol. The company’s Chief Corporate Communications Officer, Olufemi Soneye, in a statement on Thursday, clarified that the allegations were false. Soneye said that the company does not sell petrol in gallons […]

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Discos, Gencos, others get approval to supply Ekiti with off-grid electricity

Ekiti State Government has granted licenses to three electricity distribution companies, four generation companies, and two mini-grid generation companies as part of its strategy to implement an off-grid electricity supply system. Governor Biodun Oyebanji announced the development on his official X handle on Thursday. He said the government also licensed five meter asset providers, aiming […]

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Crude prices drop as dollar strengthens

Oil prices extended their decline on Thursday, driven by a stronger dollar and reduced crude imports in China, which outweighed potential supply disruptions linked to Donald Trump’s presidential win and output cuts from Hurricane Rafael. Initially, Trump’s election triggered a sell-off, pushing oil prices down over $2 as the dollar surged. However, prices later recovered […]

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Again, national grid collapses 

The national grid on Thursday collapsed, making it the second time in space of two days. The national grid collapsed on Tuesday, the 10th of such incidents this year. With the last collapse, the country has recorded 11 of such incidents in 2024. Generation dropped to 0.00MW from 2,323 megawatts of electricity generated by 22 […]

Business

Equities rise as traders weigh Trump’s second coming

  Major stock markets mostly rose Thursday following Donald Trump’s election win that is set to see the returning president unveil United States tax cuts and import tariffs. The dollar retreated having surged Wednesday on news of Trump’s win, while bitcoin came off record highs. Focus was also on interest-rate decisions, with the US Federal […]

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