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Air cargo demand rises by 18.4% January - IATA
Aviation News

Demand for air travel rises by 22% – IATA

The African aviation sector had a 22.1% rise in Revenue Passenger kilometres for November 2023 compared to the same time the previous year, data from the International Air Transport Association stated. “During the month under review, African airlines had a 22.1 per cent rise in demand; however, capacity increased by 29.6 per cent causing a […]

Dangote Sugar exceeds N1tn market cap level 
Business

Dangote Sugar exceeds N1tn market cap level 

Dangote Sugar has become the second Aliko Dangote-owned company to reach the N1 trillion market valuation milestone. As of 1.30 p.m. on January 17, 2024, the company’s share price had increased by 1.23% to N82.40, bringing its market value above N1 trillion and placing it in the SWOOT category. Dangote Sugar is now the sixth business […]

Dangote refinery investors gain N1.2tn in two days
Investment

Dangote refinery investors gain N1.2tn in two days

Equity investors in the stocks of companies under the Dangote Group have gained over N1.2 trillion in the first two trading days of this week. This indicated a noticeable surge in interest in the equities of the companies listed on the Nigerian Exchange Limited after the Dangote Petrochemical Refinery started producing. Economic Confidential stated that Dangote […]

Why naira-dollar can't be stable - Minister
Business Economy featured

Why naira-dollar can’t be stable – Minister

Christian George The Minister of Budget and Economic Planning, Atiku Bagudu, has revealed why naira to dollar exchange rate can not be stable despite government settlement for N800/$ exchange rate. Bagudu explained that what leads to the fluctuation of exchange rate are as an aftermath of uncontrollable circumstances. The Minister who said this in an […]

Google changes description text for Incognito Mode
News Tech

Google changes description text for Incognito Mode

Google has changed the language that describes how data is collected when users use the Chrome browser’s Incognito Mode. The newly added wording, which can be found in Chrome’s Canary version 122.0.6251.0, says: Others who use this device won’t see your activity, so you can browse more privately. This won’t change how data is collected […]

Ports and Airports

Tincan Island Port records N489.2bn in 2023 exported goods

The Tincan Island Port Command of the Nigeria Customs Service recorded a notable growth in goods exports, reaching N489.2 billion in 2023, a significant increase over the previous year. Area Comptroller, Dera Nnadi announced this during a news conference in Lagos, crediting the success to the Enforcement and Anti-smuggling Unit, which led to 96 detentions and 47 […]

Nestle, others cost equity market 51bn loss
Business

Investors gain N1.8tn as equity market sets new record

The Nigerian Exchange Limited set new records at the close of trade on Tuesday, as the benchmark index, the All-Share Index, increased by 3.93 per cent to a new high of 87,971.09 points. The PUNCH reported that similarly, the market capitalization increased by the same proportion to close at N48.139tn, marking another milestone and resulting […]

Nigerian Exchange ahead in Africa with 33.70% gain
Business

Naira falls to 1300/$ at parallel market

The naira fell to N1,300/$ on the parallel market on Tuesday. As confirmed with the Bureau de Change operators, this comes after it closed trading on the Peer-to-Peer cryptocurrency window at N1,315.3/$1 for the day. An Abuja Bureau de Change operator in Zone 4, Magaji Muhammed, reported the rate climbed to N1,300/$ on Tuesday. He replied, […]

Google to revises app rules after EU charges over market abuse
News Tech

Google lays off hundreds from sales team

Google on Tuesday announced that the company is letting go of hundreds of staff in its advertising sales team. The layoff of the advertising team is the latest job cut in the tech giant. Google said last week that it will be laying off a number of staff members from its augmented reality team, hardware […]

OpenAI mulls $500bn valuation in employee share sale talks
News Tech

OpenAI focus on democratic processes for AI softwares

The artificial intelligence lab OpenAI said that it is assembling a new team to establish democratic methods to determine how its AI software should be controlled to address prejudice and other concerns. In a blog post on Tuesday, the company said the “Collective Alignment” team is carrying on the activities of a grant program that […]

Top female MDs, CEOs in Nigerian banks
Banking News

Top female MDs, CEOs in Nigerian banks

Nigeria’s financial sector is undergoing a revolutionary change, and nine remarkable women are driving this change. Olayemi Cardoso, the governor of the Central Bank of Nigeria, named new CEOs on January 11 to manage the Union, Keystone, and Polaris Banks. The CBN dissolved the boards and managements of these banks for purported violations of corporate […]

How IRS will tax Bitcoin ETFs
Crypto News

How IRS will tax Bitcoin ETFs

With only one share, investors may get exposure to a wide range of assets and industries thanks to exchange-traded funds also known as ETFs. Investors may purchase bitcoin without actually possessing the cryptocurrency by using a bitcoin exchange-traded fund. An ETF is introduced by many entities. Regarding the bitcoin ETF, funds are contributed to a […]

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