Blog

AfDB predicts energy, food price hikes in Nigeria, others

The President, of the African Development Bank Group, Dr Akinwumi Adesina, has said that the costs of fertilizer, rising energy prices, and rising costs of food baskets, could worsen in Africa in the coming months. He said this as a guest at the Atlantic Council’s Africa Center while answering questions from the Council’s Africa Center […]

agencyreport
25th April 2022
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Over N1.5trn needed to fix airports - NCAA

Transportation

FAAN to introduce ‘park and pay’ at Abuja airport

The Federal Airports Authority of Nigeria is getting set to introduce the park and pay scheme at the Nnamdi Azikiwe International Airport, Abuja. It said the aim of the initiative was to increase sanity at the airport and effectively eradicate touting at the country’s second-busiest international airport. The Abuja Airport Manager/Regional General Manager, North Central, […]

agencyreport
25th April 2022
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News

Bakers hike bread price again, cite forex crisis, others

Bakers under the aegis of the Premium Breadmakers Association of Nigeria have said they will increase the price of bread, effective Monday (today). The President of the association, Emmanuel Onuorah, who made the disclosure in an interview with our correspondent on Sunday, said the increase became inevitable due to soaring costs of operations. He said, […]

agencyreport
25th April 2022
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Let NNPCL buy me out, Dangote offers to sell refinery

Economy

Investment in agric, oil sectors’ll boost economic growth –Dangote

The President of Dangote Group, Aliko Dangote, has said that investment in agriculture and oil sectors will boost economic growth. A statement said he spoke when he led board members of Dangote Group on a visit to the President, Major General Muhammadu Buhari (rted.), at the Presidential Villa, Abuja. He also said the group would […]

agencyreport
25th April 2022
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Transportation

Lagos blue line rail 90% completed – Sanwo-Olu

The Lagos State Governor, Mr. Babajide Sanwo-Olu, has said that works on both the Blue and Red line rails are at 90 per cent completion. This was made known in a statement issued by the Chief Press Secretary to the Lagos State Governor, Gboyega Akosile, on Sunday. The statement read, “Lagos State Governor, Mr. Babajide […]

agencyreport
24th April 2022
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Banking

Digital banks not tackling financial crime –UK regulator

Britain’s online-only challenger banks need to do more to prevent the abuse of their platforms by criminals, regulators have warned. According to CNBC, the Financial Conduct Authority published the findings of a review into financial crime controls at several United Kingdom challenger banks — younger banks set up with the aim of taking on incumbent […]

agencyreport
24th April 2022
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Oil production: Angola, Libya overtake Nigeria, says OPEC

Oil and Gas

Nigeria’s crude oil production rigs drop by 37.5%, says OPEC

The number of functional crude oil production rigs in Nigeria decreased by 37.5 per cent to just 10 operational rigs in March 2022, the Organisation of Petroleum Exporting Countries has said. An oil rig, offshore platform, or oil and/or gas production platform is a large structure with facilities to extract, and process petroleum and natural […]

agencyreport
24th April 2022
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Interview

Fuel subsidy more beneficial to rich Nigerians – Financial expert

In this interview, the Executive Director, Cordros Capital, Femi Ademola, speaks on investment decisions, fuel subsidy and foreign direct investments into Nigeria Many low-income earners usually look for investment areas where they can get huge returns in a short time. Is this realistic? What I have noticed with low-income earners is they are looking to […]

agencyreport
24th April 2022
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Economy

Debt servicing: Nigeria paid $598.59m to World Bank, China in 2021 – Report

Nigeria spent $598.59m on servicing the debts owed to the World Bank and the Exim Bank of China in 2021, according to an analysis of data on actual external debt service payments from the Debt Management Office. The country paid the World Bank a total of $390.92m, which included $384.28m to the International Development Association […]

agencyreport
24th April 2022
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FG budgets N8.68tn for agric, food imports - Report

Agribusiness

Beans, tomatoes, yam record 40% price hike –NBS

The average prices of food items in Nigeria recorded significant increases within a one-year period spanning between February 2021 and February 2022, data from the National Bureau of Statistics show. According to NBS, the average cost of beans (white, black eye, sold loose) rose by 50.1 per cent from N331.48 to N 497.54 during the […]

agencyreport
24th April 2022
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News

Uzodinma declares illegal refinery owner wanted as explosion kills many

No fewer than 100 people died on Friday night after an illegal refinery exploded at Abaezi forest in the Ohaji-Egbema Local Government Area of Imo State. Six vehicles were also razed during the incident which had thrown the community into panic. PUNCH Metro reports that at the scene of the incident on Saturday, a large […]

agencyreport
23rd April 2022
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Transcorp Power NGX listing expands investors’ portfolio

Energy

Transcorp Power posts N74.3bn revenue as sector’s finances improve

Transcorp Power Limited, owner of the 972 megawatts capacity power plant in Ugheli, Delta State, has announced revenue growth of N74.3bn in 2021 following the recent improvements in the financial performance of Nigeria’s power sector. In the 2021 annual report and financial statement of Transcorp Group, the Group Chairman, Tony Elumelu, said the power firm’s […]

agencyreport
23rd April 2022
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BUA cement announces revised date for ₦2.05 dividend

Lagos partners BOI, Sterling Bank to boost MSMEs

Disney beats Q2 expectations with strong Disney+ subscriber

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