Tesla shares fell by more than 3% on Monday, July 7, following CEO Elon Musk’s surprise announcement of plans to form a new U.S. political party. The move has raised fresh concerns among investors about Musk’s focus on the electric … Continue reading Tesla shares tumble by more than 3% after Elon Musk announced political ambition
The Federal Government of Nigeria, through the Nigeria Data Protection Commission (NDPC), has imposed a ₦766,242,500 fine on Multichoice Nigeria for violating the Nigeria Data Protection Act. The regulatory body cited multiple breaches, including the unlawful transfer of citizens’ personal … Continue reading FG fines Multichoice N766m over privacy breaches
Global crude oil prices are edging toward the $80 per barrel mark amid escalating tensions in the Middle East, with oil markets reacting strongly to overnight US-Israeli airstrikes on key Iranian nuclear facilities. Analysts warn that the surge may soon … Continue reading Iran-Israel: Petrol may hit N1,000/litre as oil price soars
The National Bureau of Statistics, NBS, on Monday, announced that Nigeria’s headline inflation rate has dropped to 22.97 percent. NBS said the May 2025 headline inflation rate decreased 0.74 per cent compared to the April headline inflation rate. According to … Continue reading Nigeria’s inflation drops to 22.97%
AGS NEWS – In today’s hyper-competitive and digitally connected world, businesses across industries are discovering that success is no longer driven by pricing or convenience alone. Instead, brand perception has emerged as a powerful influence on consumer decision-making — shaping … Continue reading Why Branding Now Matters More Than Ever in Business Success
AGS NEWS – The World Bank has allocated $40 million to support health insurance and financial protection for poor and vulnerable Nigerians under a new health programme approved for the country. The funding is part of the HOPE-Health Programme-for-Results (PforR), … Continue reading World Bank Allocates $40m to Boost Health Insurance for Poor Nigerians
AGS NEWS – Mobility company Moove is reportedly in talks to raise $300 million in fresh funding, a move that could push its valuation beyond $1 billion and earn it unicorn status. The potential funding comes months after Moove acquired … Continue reading Moove in Talks to Raise $300m, Eyes Unicorn Status
AGS NEWS – The Nigerian stock market experienced a downturn last week, with a loss of N1.45 trillion in market capitalisation. The All-Share Index dropped by 2.94%, closing at 102,353.68 points, while the market capitalisation fell by 2.26% to N62.85 … Continue reading Equity market declines by N1.45tn in one week
AGS NEWS – A former Group Managing Director of FirstBank, Dr. Bisi Onasanya, has dismissed allegations linking him to a commercial loan transaction conducted 12 years ago. In a statement released on Sunday by his communications advisor, Mr. Michael Oshunuyi, … Continue reading Ex-FirstBank boss Onasanya dismisses fraud allegation
AGS NEWS – Global stock markets declined on Monday as the U.S. dollar surged to its highest level in over two years, fueled by unexpectedly strong U.S. jobs data, Reuters reports. The dollar index rose 0.23% to 109.91, briefly reaching … Continue reading Global stock markets decline as dollar hits two-year high
AGS NEWS – Debt servicing took up 47% of the Federal Government’s total expenditure in the first nine months of 2024, according to data from the Central Bank of Nigeria (CBN). The government spent ₦8.94 trillion on debt payments during … Continue reading FG services debt with 47% budget vote
AGS NEWS – Nigeria’s inflation rate is expected to decline to 27.1% by the end of 2025, according to the NESG-Stanbic IBTC Business Confidence Monitor report. The projection suggests that ongoing structural reforms are beginning to yield results despite lingering … Continue reading Inflation may drop to 27% by December – Report
AGS NEWS – The Dangote Petroleum Refinery is building eight additional tanks to boost its crude oil storage capacity amid challenges with local crude supply The $20 billion refinery plans to increase its storage by 6.29 million barrels, or 1 … Continue reading Dangote Refinery Expands Crude Oil Storage with Eight New Tanks
AGS NEWS – The Nigeria Customs Service Board (NCSB) has approved the promotion of 4,291 senior officers, alongside the confirmation of one Deputy Comptroller-General and seven Assistant Comptroller-Generals. This decision was made during the board’s 61st regular meeting, chaired by … Continue reading Customs approve promotion of 4,291 officers
AGS NEWS – The World Bank has identified $32 million in unaccounted funds within a Nigerian water sector project, sparking concerns of embezzlement and mismanagement. The irregularities, flagged in the Bank’s FY2024 Sanctions System Annual Report, followed a forensic review … Continue reading W’Bank detects $32m unaccounted funds in Nigeria’s water project
AGS NEWS – Mastercard, in partnership with the Lagos Food Bank Initiative and Food for Education Foundation, has launched a program to provide over 300,000 meals to schoolchildren in underserved areas of Nigeria and Kenya. This initiative is part of … Continue reading Mastercard, Lagos Food Bank distribute 300,000 meals to schoolchildren
AGS NEWS – Nigerian Breweries’ foreign exchange losses increased to N160.48bn by the end of the third quarter, according to unaudited results submitted to the Nigerian Exchange Limited on Wednesday. The company’s FX loss rose by 84.83% from N86.83bn in … Continue reading Nigerian Breweries FX loss worsens to N160bn
AGS NEWS – Dangote Refinery has approached the Abuja branch of the Federal High Court, seeking to annul the import licences granted to the Nigerian National Petroleum Company Limited, NNPCL, Matrix Petroleum Services Limited, and A. A. Rano. Dangote, in … Continue reading Dangote Refinery in court seeking annulment of import licences to NNPCL, others
AGS NEWS – The World Bank has revealed that the Nigerian government lost N13.2 trillion in revenue due to its foreign exchange subsidy policy from 2021 to 2023. This policy involved regulating the naira’s value in the official exchange market … Continue reading Nigeria loses N13tn to forex subsidy — World Bank
AGS NEWS – The United States Consul-General in Lagos, Will Stevens, revealed that the U.S. and Nigeria have an annual trade relationship worth $10 billion, split almost evenly between the two nations. Speaking at an African Growth and Opportunity Act … Continue reading Nigeria, USA annual trade hits $10bn — Official
AGS NEWS – From November 1, 2024, a one-way flight from Lagos to Abuja on Air Peace will cost N200,000, the highest among domestic airlines. Rising airfares, driven by Nigeria’s struggling economy, are forcing many passengers to opt for road … Continue reading Air Peace hikes Lagos-Abuja ticket to N200,000 from November
AGS NEWS – The Federal Government is in talks with the World Bank to secure a $500 million loan to support basic education in Nigeria. The loan is part of the World Bank’s HOPE for Quality Basic Education for All … Continue reading Nigeria seeks fresh $500m W’Bank loan for education
AGS NEWS – Chevron Nigeria Limited, a subsidiary of Chevron Corporation, has discovered a new oil field capable of producing 17,000 barrels of oil per day. The discovery was made by the Meji NW-1 spud in Petroleum Mining Lease 49, … Continue reading Chevron discovers new 17,000bpd oil field – Report
AGS NEWS – The Central Bank of Nigeria (CBN) has reiterated its commitment to maintaining the stability of the country’s financial system, emphasizing regular stress tests to identify vulnerabilities in banks. According to a press release by CBN’s acting Director … Continue reading Banks undergo regular stress tests, says CBN
AGS NEWS – A South Korean investor consortium has finalized plans to build four refineries in Nigeria, each with a capacity of 100,000 barrels, the Federal Government announced on Tuesday. Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, revealed … Continue reading S’Korean investors planning four Nigerian refineries – FG
AGS NEWS 