By Ayomide Otitoju Nigerian workers may now be spending up to 10% of the newly approved N70,000 minimum wage on data subscriptions following a recent tariff hike under the administration of President Bola Tinubu. The federal government approved a 50% increase in data tariffs after telecommunications companies cited rising operational costs as the justification for…
By Ayomide Otitoju Retail lender Unity Bank Plc has reported gross earnings of N59.3 billion for the financial year ended December 31, 2023, reflecting a 3.84% year-on-year growth. In its audited financial statement submitted to the Nigerian Exchange Group (NGX), the bank recorded improvements across key performance indicators, including a 23% surge in customer deposits…
By Ayomide Otitoju The Nigeria Customs Service (NCS) has directed importers, customs agents, and other stakeholders to recapture their import declarations following the cancellation of the 4% Free-on-Board (FOB) charge on imports. In a statement issued by the National Public Relations Officer, Assistant Comptroller Abdullahi Maiwada, on behalf of the Comptroller-General of Customs, Bashir Adewale…
By Ayomide Otitoju Nigeria’s Gross Domestic Product (GDP) grew by 3.84% in the fourth quarter of 2024, according to a report released by the National Bureau of Statistics (NBS) on Tuesday. This marks an improvement from the 3.46% growth recorded in Q3 2024 and the 3.46% reported in Q4 2023. Services Sector Leads GDP GrowthThe…
By Ayomide Otitoju The Nigerian National Petroleum Company (NNPC) Shipping has entered into a new joint venture with Stena Bulk and Caverton Marine Limited to transform Nigeria’s maritime transportation. The partnership, announced Tuesday by NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, follows an agreement signed in London last week. The venture will establish a new…
By Ayomide Otitoju Stanbic IBTC Bank’s Corporate and Investment Banking (CIB) division is set to host a high-profile Gas and Infrastructure Conference aimed at fostering strategic collaboration in Africa’s energy and infrastructure sectors. The event, scheduled for Tuesday, February 25, 2025, will take place in Lagos under the theme: “Driving Gas and Infrastructure Opportunities in…
By Ayomide Otitoju The Board of Directors of MTN Nigeria Communications Plc is set to meet on Thursday, February 27, 2025, to review and approve the telecom giant’s audited financial results for 2024. Despite a challenging earnings performance over three consecutive quarters, MTN Nigeria has staged a strong recovery in the stock market. Data from…
Apple announced on Monday that it will invest more than $500 billion in the United States over the next four years and create 20,000 new jobs, marking its largest-ever domestic spending commitment. The move comes as tech companies ramp up investments in artificial intelligence and as Apple faces mounting pressure from President Donald Trump’s trade…
By Ayomide Otitoju The Dangote Petroleum Refinery has assured that it has sufficient Premium Motor Spirit (PMS), also known as petrol, to meet Nigeria’s domestic demand, according to Aliko Dangote, President of Dangote Industries Limited. Speaking over the weekend, Dangote revealed that the refinery currently holds over half a billion litres of petroleum products, valued…
