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Nigeria’s reliance on imported petrol rise as local supply

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Nigeria’s non-oil exports rise to $1.79bn in Q1 2025 – NEPC
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Nigeria boosts trade ties, port efficiency with Belgium

Nigeria has become the largest contributor to the Port of Antwerp’s West African freight traffic, with over 6 million tonnes of cargo handled annually. This significant volume underscores the robust trade relationship between Nigeria and this key European maritime hub, reinforcing Nigeria’s position as a pivotal player in regional commerce. This was disclosed in a […]

has presented its 2024 Regulatory Impact Assessment, a comprehensive review aimed at overhauling existing telecom regulations
News

NCC sets September new deadline for NIN-SIM linkage

The Nigerian Communications Commission has announced September 14, 2024, as the final deadline for Nigerians to complete the ongoing SIM-NIN linkage exercise. This was disclosed in a statement signed by its Director of Public Affairs, Reuben Muoka via its official X handle on Wednesday. NCC stated that the target is to achieve 100% compliance by […]

Apple faces $1.1bn in tariff costs as trade tensions escalates
Tech

Apple to cut 100 jobs ahead of iPhone 16 launch

Apple is set to lay off approximately 100 employees from its Services division, just ahead of the highly anticipated iPhone 16 launch event on September 9. According to Bloomberg, the layoffs will impact several teams, including those working on the Apple Books app and the Apple Bookstore. Employees were reportedly informed of their job losses […]

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Group warns Matrix against media suppression amid petrol import probe 

The Centre for Accountability and Transparency, an anti-corruption group, has called on Matrix Energy Limited to reconsider its alleged attempts to suppress media reports concerning accusations of substandard petrol importation into Nigeria. This was disclosed in a statement by CAAT’s Convener, Okwa Dan on Wednesday, where he accused Matrix Energy of trying to intimidate media […]

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Sanwo-Olu reopens Lagos discount market ‘Ounjè Eko’

Lagos State Governor Babajide Sanwo-Olu has directed the reopening of the “Ounjè Eko” Sunday markets, which will offer a 25% discount on staple food items such as rice, beans, gari, bread, eggs, tomatoes, and pepper. The was disclosed by the Commissioner for Information and Strategy, Lagos State, Gbenga Omotoso, via his official X handle. He […]

Flutterwave, has laid off half of its workforce in Kenya and South Africa as part of a broader cost-cutting strategy
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Uganda grants Flutterwave payment systems operator license

Nigerian payments technology company, Flutterwave has been granted a Payment Systems Operator license by the Bank of Uganda. This milestone marks a significant step in Flutterwave’s ongoing expansion across Africa, adding Uganda to the list of countries where it operates. Uganda’s digital payment landscape is evolving rapidly, fueled by a youthful and dynamic population—over 78% […]

FG deducts N256.5bn for gas projects in six months
News

Tinubu appoints new executive directors to BOI

President Bola Tinubu has appointed Rotimi Akinde and Ifeoma Uz’Okpala as Executive Directors of the Bank of Industry. This was disclosed in a statement released on Wednesday by the Head of Public Relations Division of BOI, According to TheCables. BOI said Olayinka Akinde has been appointed as the Executive Director of Corporate Finance and Risk […]

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FG orders firm to pay $72,777 liability over damaged bean export

The Nigerian Shippers’ Council has directed Inland Container Nigeria Limited to bear 70% of a $72,777 liability following a dispute over a damaged shipment of black-eye beans. The council issued this directive as part of its resolution on a complaint filed by USBAB MultiChoice Limited, which exported two containers of black-eye beans from the Kaduna […]

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Oil production declined by 160,000bpd in Q2 2024 – NBS

Nigeria’s daily oil production decreased by 160,000 barrels per day in the second quarter of 2024. This was disclosed in the recent National Bureau of Statistics report. The report revealed that during this period, the country averaged a daily production of 1.41 million barrels per day (mbpd), down from 1.57 mbpd in the first quarter. […]

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FG to engage external auditors for NNPC subsidy claim verification 

The Federal Government has initiated the process of hiring an external auditor to verify the N2.7 trillion fuel subsidy claim made by the Nigerian National Petroleum Company Limited. This move, aimed at determining the actual amount owed by the government, follows a proposal made five months ago during the April 2024 Federation Allocation Accounts Committee […]

AMCON’s new DG will improve debt recovery, says commentator
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Deep-pocketed investors to buy Ibadan DisCo – AMCON

The Assets Management Corporation of Nigeria has called for the sale of the Ibadan Electricity Distribution Company to viable investors as the only solution to improve its efficiency. This was disclosed by the Managing Director/CEO of AMCON, Gbenga Alade during an interactive session with media executives in Lagos on Monday, according to The Punch. Alade, […]

News

FG, states secure N100bn for electricity meter procurement 

The Federal Government, in collaboration with state governments, has raised N100 billion to procure prepaid electricity meters under the Presidential Meter Initiative. This was disclosed by the Minister of Power, Adebayo Adelabu while addressing broadcasters in Ibadan, the Oyo State, according to The Punch. Adelabu emphasized that the initiative is part of the broader efforts […]

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