Excess liquidity in the banking sector is demonstrated by the high increase in bank deposits with the Central Bank of Nigeria (CBN) of 783.7 percent year-over-year (YoY) to N79.8 trillion in the first seven months of the year (7m’25) from N9.03 trillion in the equivalent period of 2024 (7m’24). […]
BUSINESS
Aliko Dangote, the president and CEO of Dangote Industries Limited, has urged affluent Nigerians to make investments in the country, claiming that this is still the only way to develop the country. He contends that without large investments, a country cannot experience true growth and progress. He urged […]
The Nigeria Data Protection Commission (NDPC) has fined MultiChoice Nigeria a devastating ₦766,242,500 (≈$501,000) for serious violations of the Nigeria Data Protection Act (NDPA), causing the company to face a series of financial and regulatory difficulties. According to the NDPC, an inquiry that was started in Q2 2024 discovered that […]
Over 100,000 gasoline-powered vehicles have been converted to compressed natural gas in the last year, according to the Federal Government, which emphasizes that it has made great strides in increasing the use of alternative fuels nationwide. This was revealed Thursday at a workshop for a sensitization program in Lagos […]
As several states took up the responsibility of regulating energy markets inside their own jurisdictions, operators and experts in the power sector have voiced concerns, anxieties, and anticipated opportunities. This comes after the Nigerian Electricity Regulatory Commission recently disclosed that, in compliance with the Electricity Act 2023, seven states […]
Peter Obi, the 2023 Labour Party presidential candidate and former governor of Anambra State, has defended his administration’s investment in the state brewery, claiming that in spite of criticism, it is still a significant economic asset. Obi described the difficulties he encountered in luring investment to Anambra in an interview […]
In an effort to counter the dominance of well-known international companies and offer evaluations that more correctly reflect the continent’s economic reality, a new African-led credit rating agency is scheduled to launch by the end of September, Bloomberg said on Monday. By the end of 2025 or the beginning […]
As the world commemoratesWorld Environment Day 2025 with the theme “Beat Plastic Pollution”, Chevron Nigeria Limited (CNL) has announced a remarkable 97% reduction in routine gas flaring. The company reaffirmed its commitment to environmental stewardship and sustainable development in line with this year’s global call to action. Plastic pollution defined […]
The Nigerian Senate has confirmed that President Bola Tinubu’s administration is dedicated to seeing the $25 billion gas pipeline project between Nigeria and Morocco through to completion. Sen. Jimoh Ibrahim, the chairman of the Senate Committee on Inter-Parliamentary Affairs, provided the guarantee during the African Parliament’s executive session, which is […]
According to the Lagos State administration, in 2024, fire occurrences throughout the state caused the loss of property valued at N19.52 billion. This was revealed by Mr. Olugbenga Oyerinde, the Commissioner for Special Duties and Intergovernmental Relations, at the current ministerial press briefing on Wednesday to commemorate the second year […]