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Tag: Nigeria

The year has begun with a good financial performance from the Cinema Exhibitors Association of Nigeria, with revenue up nearly 50% year over year.
News

Nigerian cinemas report nearly 50% revenue increase in January

The year has begun with a good financial performance from the Cinema Exhibitors Association of Nigeria, with revenue up nearly 50% year over year. According to the National President of CEAN, Opeyemi Ajayi, Nigerian movie theatres brought in N1.2 billion in income in January 2024. This represents a 46.5% annual increase over the N819 million […]

Only four Nigeria states attract foreign investment in Q4 - Report
News

Only four Nigeria states attract foreign investment in Q4 – Report

By Melvin Onwubuke   The number of Nigerian states that allured foreign investors, in the fourth quarter of 2023 dropped to lowest in about 3 years. According to findings by BusinessDay, the latest capital importation published by the National Bureau of Statistics, revealed that only 4 States in Nigeria got foreign capital in fourth quarter […]

Nigeria's unemployment rate rises by 0.8% in Q3 2023
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Nigeria’s unemployment rate rises by 0.8% in Q3 2023

“In Q3 2023, the unemployment rate rose to 5.0%, a considerable increase. It was stated in a report on Monday that this represents an increase of 0.8% from Q2 2023. The NBS reported in its “Nigeria Labour Force Survey Q3 2023” report, which was released on Monday, that “the nation’s unemployment rate increased significantly from […]

Nigeria, Brazil seek direct flights between Lagos, Sao Paulo
Business

Nigeria, Brazil seek direct flights between Lagos, Sao Paulo

President Bola Tinubu and Brazilian President Luiz Inácio Lula da Silva met on Sunday in Addis Ababa, Ethiopia, and talked about the possibility of starting direct flights between Lagos, Nigeria, and Sao Paulo, Brazil. According to a statement released by the Senior Special Advisor to President Tinubu on Public Engagement, Fredrick Nwabufo, President Lula da Silva emphasized […]

Inflation in Nigeria continues to rise, reaching an all time high almost 30% in annual terms, attributed to rising food cost and the foreign exchange crises.
Business

Nigeria inflation nears 30%, highest in 26 Years

By Melvin Onwubuke   Inflation in Nigeria continues to rise, reaching an all time high almost 30% in annual terms, attributed to rising food cost and the foreign exchange crises. According to Reuters, consumer inflation rose for the 13th straight month in January to 29.9% Year on Year (YoY) from December’s 28.92% data from the […]

Nigeria, United kingdom sign historic trade, investment deal
News

Nigeria, United kingdom sign historic trade, investment deal

By Melvin Onwubuke   United kingdom secretary of business and trade, Kemi Badenoch, on Tuesday signed a deal with Nigeria to enhance trade and investment between the two countries. According to The Punch, the United kingdom secretary, Business and Trade,Kemi Badenoch and her counterpart, Doris uzoka-Anite, minister for trade and investment signed the historic deal. […]

Crude hits $83 as Nigeria's export passes 1.4mbpd
Oil and Gas

Crude hits $83 as Nigeria’s export passes 1.4mbpd

Data from the Federal Government indicates Nigeria’s oil output surged to 1,426,574 barrels per day in January 2024. This news caused the global benchmark for crude, Brent, to rise to $83.19/barrel on Tuesday evening, moving up $1.19 from its overnight price. The PUNCH stated that, Nigeria would receive more foreign cash due to the small […]

Nigeria to end gas flaring by 2030 - NUPRC
News Oil and Gas

Nigeria to end gas flaring by 2030 – NUPRC

Preparations are in place by the Nigerian Upstream Petroleum Regulatory Commission to terminate gas flaring by 2030. The Punch stated that this was revealed during a lecture given by NUPRC Chief Executive Officer, Gbenga Komolafe, during the 8th Sub-Saharan Africa International Petroleum Exhibition and Conference, which took place in Lagos. Komolafe claimed that the NUPRC […]

FG plans naira payment for local gas operators
Business

FG plans naira payment for local gas operators

By Melvin Onwubuke The Federal Government has said it is putting measures in place to stop gas producers from collecting dollars in payment for local gas supplies to local operators. The Minister of Power, Adebola Adelabu, who made this known in post on his X handle, said it was crucial to find innovative solutions to […]

Why affordable housing can't be realistic in Nigeria - Developers
Real Estate

FMG boosts efforts to fulfil housing demands

In order to satisfy Nigerians’ need for housing, the Federal Mortgage Bank of Nigeria has stated that it is prepared to restructure and reorganize its operational activities. According to The Punch, a promise was made by the bank’s managing director, Madu Hamman, during its 2024 Management Retreat, which took place on Friday in Niger State.”Transformational Innovation […]

Court upholds NMDPRA's authority to impose statutory taxes
News

Court upholds NMDPRA’s authority to impose statutory taxes

The Nigerian Midstream and Downstream Petroleum Regulatory Authority’s authority to levy and collect taxes on petroleum products supplied in Nigeria has been upheld by the Federal High Court in the first significant court ruling concerning the Petroleum Industry Act 2021. The PUNCH reported that NMDPRA said in a statement released in Abuja on Sunday that […]

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