With a population above 200 million people and access to market across the continent, Nigeria is the most attractive destination for investment in Africa, say the First Bank of Nigeria and the Bank of Industry. The CEOs of First Bank of Nigeria, Adesola Adeduntan and Bank of Industry, Olukayode Pitan, stated this respectively at a…
Crude oil theft is a huge threat to actualising the objectives of the Petroleum Industry Act (PIA), experts in the oil and gas sector have said. The experts urged the federal government and security agencies to find a lasting solution to the issue in the interest of national development. The PIA, according to them, is…
Nigeria’s statistics office, said that composite food index rose by 18.34 per cent in October 2021 compared with 17.38 per cent in October 2020. The nation’s headline inflation was also put at 15.99 per cent, marking a second-month consecutive decline, the office said. The data was relayed by Simon Harry, the Statistician-General of the Federation…
Keystone Bank has denied reports that the Minister of Justice and Attorney-General of the Federation, Abubakar Malami (SAN), forced it to convert the $1 at N305. The reports came after the bank met with the House of Representatives’ Ad Hoc Committee onAssessment and Status of all recovered loots on the Federal Government’s $40 million funds,…
Nigeria has lost its Africa’s top oil producer status to Libya as its crude oil production fell further last month amid lingering supply disruptions, according to a new report by the Organization of the Petroleum Exporting Countries. Nigeria told OPEC that its oil output fell to about 1.23 million barrels per day in October from…
Kuda Bank has warned its customers that it will close accounts found to be engaged in the transaction of cryptocurrency. The bank stated that it can’t facilitate cryptocurrency transactions because it violates the policy of the Central Bank of Nigeria which regulates all financial institutions in the country. Kuda Bank’s statement follows multiple complaints on…
Vice-President Yemi Osinbajo says majority of the revenue flowing into the nation’s treasury is generated from non-oil exports. Osinbajo said this on Thursday at the 51st annual international conference of the Nigerian Society of Chemical Engineers (NSChE) in Lagos. Represented by Ogbonnaya Onu, minister of science, technology and innovation, Osinbajo said that the federal government…
…as LCCI commends its impact Dangote Industries Limited has restated its commitment to contributing to significant reduction in the number of unemployed Nigerians even as the Lagos Chamber of Commerce & Industry lauded the indigenous conglomerate spread across Africa. Speaking at the Dangote Special Day, at the on-going 2021 Lagos International Trade Fair, Group Executive…
A cement refinery in Ethiopia belonging to Dangote Group risks being damaged in the ongoing conflict by Tigray rebels and its allies against the Ethiopian government and its allies. The speculation is noted in a report by MoneyCentral, as the rebels have captured cities around Addis Ababa and continue to advance on the capital. “The…
