Blog

Microsoft spends $200m in four years on ADC initiative

Microsoft says it has spent $200m since the introduction of its African Development Centre in 2019. Te ADC West Africa Managing Director, Gafar Lawal, disclosed this during the launch of the ADC’s office on Monday. He said the ADC had since grown from 10 employees in 2019 to about 200 in 2022. Lawal said, “The […]

agencyreport
24th March 2022
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Trapped funds: CBN to give foreign airlines $150m

Economy

Massive job cut looms as dollar hits N590

The lingering foreign exchange scarcity in the country has continued to worsen even as the exchange rate on the parallel market is inching towards N590/$1, our correspondent has learnt. The development may lead to massive job loss in the manufacturing industry, among other sectors, according to the Manufacturers Association of Nigeria. The development comes over […]

agencyreport
23rd March 2022
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Ports and Airports

Delta to commence flight operations to new routes

DELTA Airlines has said it will soon commence flight operations to new routes as part of efforts to provide improved services to its customers. A statement by the airline said through Delta’s partnerships with Air France, KLM and Virgin Atlantic, customers could access nearly 200 more destinations throughout Europe, Africa, the Middle East and India […]

agencyreport
23rd March 2022
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Reps pass tax crimes commission bill for second reading

Policy and Regulations

Enforce use of coins, Reps urge CBN

The House of Representatives has urged the Central Bank of Nigeria to “reinforce the use of coins as a legal tender and ensure that banks comply with the use of coins to the fullest.” Members of the House had at the plenary on Tuesday unanimously adopted the motion moved by a member, Muda Umar, titled ‘Call […]

agencyreport
23rd March 2022
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Nigeria, Morocco commence 5,600km gas pipeline project

Energy

Reps give NNPC two-week ultimatum to defend N3tn debt

The House of Representatives’ Ad Hoc Committee on Recovery of Outstanding Debts Owed By Oil and Gas Companies has given the Nigerian National Petroleum Corporation, now Nigerian National Petroleum Company Limited, two weeks to defend its indebtedness to the Federal Government to the tune of N3tn. The committee, which approved the NNPC’s request for an […]

agencyreport
23rd March 2022
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18 Views

Appointments

6.4 million applied for N-Power Batch-C programme –FG

The Federal Government received a total of 6.4 million applications for its N-Power Batch-C youth empowerment scheme, the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq, announced on Tuesday. N-Power is a scheme set up by the Federal Government in June 2016 to address the issues of youth unemployment and help increase […]

agencyreport
23rd March 2022
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Flights to South-South most expensive - NBS

Ports and Airports

Buhari inaugurates Lagos intl airport terminal today

The President, Major General Muhammadu Buhari (retd.), on Tuesday, inaugurated the newly built international terminal of the Murtala Muhammed Airport, Lagos. Today’s inauguration is coming after several dates had been set by the Federal Government for the terminal’s completion and inauguration since 2015. The new international terminal is one of the five terminals being built […]

agencyreport
22nd March 2022
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Economy

Lagos, Ogun, Rivers lead as states’ debts hit N6.43tn in 2021

The domestic debts owed by state governments and the Federal Capital Territory Administration rose to N6.43tn at the end of 2021. While sub-national domestic debt stock was N4.46tn, the sub-national external debt stock was N1.97tn in 2021. Lagos, Ogun and Rivers became the three most indebted states, according to the latest data from the Debt […]

agencyreport
22nd March 2022
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News

Subsidy: FAAC meets as NNPC deductions threaten states’ allocations

The planned deduction of N242.53bn fuel subsidy from the Federation Account this month by the Nigerian National Petroleum Company Limited is raising uncertainty among states as the Federation Accounts Allocation Committee is scheduled to meet on Tuesday (today). It was gathered that commissioners for finance from the 36 states would meet today for the usual […]

agencyreport
22nd March 2022
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22 Views

Why oil theft estimates are unrealistic- Navy

Energy

Brent rises to $115 as EU considers Russia oil ban

Brent crude, the global oil benchmark, appreciated in price on Monday, moving up by 7.3 per cent or $7.88 to $115/barrel at 7.54pm Nigerian time as European Union nations considered joining the United States in a Russian oil embargo. Industry figures showed that the commodity has been gaining in price since about a week, as […]

agencyreport
22nd March 2022
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10 Views

News

FG will gain excess foreign earnings from Dangote fertilizer plant – Buhari

The President, Major General Muhammadu Buhari (retd.), on Tuesday, hailed Africa’s richest man and Nigeria’s pride, Aliko Dangote, describing him as the biggest employer of labour after the Federal Government. Buhari stated this during his speech when he inaugurated the multi-billion dollar Dangote Fertiliser Plant, located at the Ibeju Lekki area of Lagos State. He […]

kayode
22nd March 2022
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21 Views

Economy

Nigeria loses N150bn to fake battery products, says expert

The Chief Executive Officer, Emilinks Nigeria Limited, Mr Solomon Nwadiogbu, has said Nigeria loses about N150bn every year to fake battery products. Nwadiogbu disclosed this during a press briefing. He added that fake battery products often cause damage to cars in the nation. According to him, Nigeria needs approximately five million batteries annually with an […]

agencyreport
21st March 2022
0 Comments
19 Views

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

Investors flee to Europe, Japan amid trade war

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Microsoft spends $200m in four years on ADC initiative

Massive job cut looms as dollar hits N590

Delta to commence flight operations to new routes

Enforce use of coins, Reps urge CBN

Reps give NNPC two-week ultimatum to defend N3tn debt

6.4 million applied for N-Power Batch-C programme –FG

Buhari inaugurates Lagos intl airport terminal today

Lagos, Ogun, Rivers lead as states’ debts hit N6.43tn in 2021

Subsidy: FAAC meets as NNPC deductions threaten states’ allocations

Brent rises to $115 as EU considers Russia oil ban

FG will gain excess foreign earnings from Dangote fertilizer plant – Buhari

Nigeria loses N150bn to fake battery products, says expert

Amazon enters quantum race with launch of Ocelot.

9mobile loses over 300,000 subscribers as roaming deal.

Africa can lead AI-driven deep tech, says El.

UAE commits to $25bn Nigeria-Morocco gas pipeline project

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