The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has rejected the proposed $1.3 billion sale of onshore oilfields to the Renaissance Group, […]
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Category: Business
Tanker explosion: Atiku calls for rail transport of petroleum products across Nigeria
The former vice president of Nigeria, Atiku Abubakar, has called on the federal government to adopt rail transport of petroleum products across Nigeria following a […]
Jumia exits South Africa and Tunisia to focus on Nigeria, other markets
Jumia Technologies AG, Africa’s leading e-commerce platform, has announced plans to shut down its operations in South Africa, where it operated under the brand name […]
Weak naira is an opportunity for Nigeria to boost its export trade – Cardoso
The Governor of the Central Bank, Yemi Cardoso, stated that the sharp drop in the value of the naira presents an opportunity for the country […]
UAE-based Ace Performance Parts seeks ‘liquidation’ of Nigerian company over alleged $50,139.42 debt
An auto parts seller in the United Arab Emirates (UAE), ACE Performance Parts FZ LLC, has asked a Federal High Court in Abuja to approve […]
Apapa Customs seizes illicit drugs worth N1.1 billion in Lagos
The Apapa Ports Customs Command has intercepted illicit drugs valued at N1.1 billion, conveyed in four 40-foot containers. Comptroller Babatunde Olomu disclosed in a statement, […]
Capital importation: Foreign investors prefer “hot money” over FDI as money markets gulp $2.68billion
Foreign investors have increasingly turned to Nigerian treasury bills in the first half of 2024, as money market instruments emerged as the leading contributor to […]
Oxfam warns of worsening inequality as 99% wealthy Nigerians evade tax
As hardship grips Nigerians, Oxfam in Nigeria raised alarm on Tuesday over the alarming trend of over 99% of wealthy Nigerians evading taxes while millions […]
Nigeria’s foreign reserves rose to $39bn in October – Cardoso
Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN), announced a notable increase in the country’s foreign reserves, which rose by 12.74% […]
Nigeria’s inflation rate rises to 32.7%
By Babajide Komolafe & Elizabeth Adegbesan Nigeria’s inflation rate rose to 32.7 percent in September, reversing a two-month consecutive decline to 32.15% in August. The […]