Jumia has announced the discontinuation of its food delivery service, Jumia Food, in all operational countries, including Nigeria, Kenya, Morocco, Ivory Coast, Tunisia, Uganda, and Algeria, with effect from the end of December 2023. The company, focusing on its core … Continue reading Jumia food announces exit from Nigeria by end of 2023
The Nigerian Federal Government revealed on Tuesday that the country relies on generators powered by Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel) for approximately 40,000 megawatts of electricity. The disclosure came during the ministerial summit on Integrated National … Continue reading Nigeria relies on generators for 40,000MW electricity – FG
British International Investment to Invest $15m in Valency International for Nigeria’s Agricultural Infrastructure Expansion The British International Investment (BII), the United Kingdom’s development finance institution, has revealed its plan to inject $15 million in equity into Valency International, a Singapore-based … Continue reading UK allocates $15 million for agricultural infrastructure expansion in Nigeria
The Corporate Affairs Commission (CAC) is poised to delist 91,843 companies for non-compliance with the filing of annual returns. The commission, which initially published a list of 94,581 companies in August, reduced the number to 91,843 in its recent update. … Continue reading CAC set to delist over 91,000 companies for infractions
Moet Abebe, a Nollywood actress and media personality, has asserted that Nigerian internet users do not appreciate outspoken women. Abebe, co-host of the Bahd And Boujee Podcast with reality star Tolani Baj, addressed the criticism she faced for her podcast … Continue reading Nigerians do not appreciate outspoken women – Moet Abebe
The federal government of Nigeria has indicated the possibility of returning to the National Assembly next year to seek approval for a supplementary budget if the country exceeds its revenue projections. Currently, President Bola Ahmed Tinubu’s N27.5 trillion appropriation bill … Continue reading Nigeria may increase 2024 Budget if Revenue improves next year – Wale Edun
Singer Adedamola Adefolahan, popularly known as Fireboy DML, has shed light on why Nigerian artists often avoid touring the country despite achieving global success in selling out arenas worldwide. In a recent interview with Cool FM Nigeria in Lagos, hosted … Continue reading Nigerian music industry lacks proper structure – Fireboy
The recent tragic drone strike in Tudun Biri, Igabi Local Government Area of Kaduna State, has intensified concerns over civilian casualties caused by Nigerian security agencies in the fight against insurgents and bandits. The incident, which occurred last week, resulted … Continue reading Nigerian military kills over 400 innocent citizens in six years – Report
Delta North Senatorial District representative, Senator Ned Nwoko, a member of the People’s Democratic Party (PDP) in Delta, has advocated for the establishment of Nigerian offices by various social media platforms. In an interview with the News Agency of Nigeria … Continue reading Senator Nwoko advocates for social media offices in Nigeria
Embarking on a business journey in Nigeria may seem daunting, particularly if your capital is limited. However, armed with strategic planning, success is within reach even with a modest sum like 500,000 Naira. This article unveils five lucrative business ideas … Continue reading 5 profitable businesses in Nigeria you can start with 500k
The Federal Ministry of Power and the China Ministry of Ecology and Environment oversaw the signing of a $150 million agreement for the construction of a lithium-ion battery manufacturing plant in Nigeria by the Chinese company SHENZEN LEMI Technology Development. … Continue reading Nigeria and China ink $150 million deal for battery plant construction
In the third quarter of 2023, Nigeria experienced a remarkable 53.16% year-on-year increase in foreign trade, reaching a total of N18.80 trillion, according to the National Bureau of Statistics’ ‘Foreign Trade in Goods Statistics (Q3 2023)’ report released on Monday. … Continue reading Nigeria’s oil revenue surges by 83%, Reaches N8.5tn in Q3 – NBS
Comedian Ayodeji Richard Makun, popularly known as AY, has opened up about his apprehension in telling certain jokes, citing concerns over misinterpretation and hurtful reactions. In a recent interview with media personality Toke Makinwa, AY discussed the aftermath of his … Continue reading Comedian AY reveals why he’s afraid of cracking specific jokes
Former Minister of Communications, Adebayo Shittu, has urged President Bola Tinubu to initiate quarterly town hall meetings as a means of engaging with political stakeholders and community leaders across the six geopolitical regions. Shittu, who served as a minister in … Continue reading Former minister urges Tinubu to address Nigerians directly
The International Air Transport Association (IATA) revealed on Thursday that as of September, airlines in Africa have $1.68 billion of funds locked, out of a global total of $2.36 billion. This disclosure was made by Kamil Alawadhi, the Regional Vice-President … Continue reading IATA reveals $1.68 billion debt owed by Nigeria and other African countries
Chairman/CEO of the Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa, has issued a warning against unlawful travels abroad. The caution came during her visit to Nigerians in a shelter in Brampton, Canada. Expressing sympathy for those in difficult situations, … Continue reading Nigerians advised against traveling abroad without proper documentation
The President of Dubai Chamber, Mohammad Lootah, has revealed that the non-oil trade between Nigeria and Dubai hit $2.1 billion in 2022. This announcement was made during the New Horizons Trade Mission in Nigeria, held in Lagos. The event, themed … Continue reading Nigeria-Dubai non oil trade surpasses $2.1 billion in 2022
The Manufacturers Association of Nigeria (MAN) has underscored the critical importance of creating a conducive business environment for the productive sector to achieve Nigeria’s aspirations of rapid industrialization and economic diversification. Francis Meshioye, the association’s President, made this assertion on … Continue reading Manufacturers in Nigeria say tough business conditions could stop growth
Nigerian and German companies have formalized two crucial agreements in Berlin, signaling a major boost to economic ties. Valued at $500 million, the agreements involve a renewable energy pact and a gas export deal, representing a significant milestone in bilateral … Continue reading Nigeria and Germany sign $500 million deals for renewable energy
A comprehensive analysis of budget performance reports from Open Nigerian States, a budgIT-backed platform, reveals that the 36 states of the federation collectively expended N1.71tn on recurrent expenditures during the first nine months of 2023. The expenses encompassed allowances, foreign … Continue reading States spends N1.7tn on travel, meals, and more
The Nigerian National Petroleum Company Limited (NNPC) has announced that the $2.8 billion Ajaokuta–Kaduna–Kano gas pipeline project, currently being constructed by Oilserve Limited, is set to be inaugurated next month. Oritsemiyiwa Eyesan, the Executive Vice President, Upstream, NNPC Limited, disclosed … Continue reading NNPCL set to inaugurate $2.8 billion AKK gas pipeline in December
The Western Marine Command of the Nigeria Customs Service reported intercepting various contrabands totaling N924 million between August and October. In an announcement on Friday, spokesperson Mailafiya Magaji stated that the command seized 17 sacks containing 1,199 parcels of cannabis … Continue reading Nigeria customs seizes contrabands worth N924 million in recent operations
The Federal Government has announced that the Saudi Arabian government has committed to investing in the revitalization of Nigeria’s refineries and supporting the reforms of the Central Bank of Nigeria. The commitment was revealed in a press statement by the … Continue reading Saudi Arabia sets to invests in Nigeria’s refineries alongside central bank reforms
The declining economic growth in China is expected to have repercussions on Nigeria’s economic prospects, according to the International Monetary Fund (IMF). The IMF highlighted that China’s deep economic connections with sub-Saharan African countries, particularly over the past two decades, … Continue reading IMF warns of impact on Nigeria as China’s economy slows
Despite recent efforts by the Central Bank of Nigeria (CBN) to stabilize the foreign exchange market, the naira concluded trading on the Investor & Exporter forex window on Thursday at N996.75/$. This marks a significant 13.95% decrease from the N874.71/$ … Continue reading Naira slumps to N1,000/$ in official market
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