News and analysis of global and local business trends, markets, and industry developments.
The Confederation of African Football (CAF) has announced Ecobank, the leading pan-African banking group, as the Official Sponsor of the TotalEnergies CAF Africa Cup of Nations (AFCON), Côte d’Ivoire 2023. This major football tournament, kicking off on January 13th and running until February 14th, 2024, will see Ecobank join forces with CAF to deliver a…
Managing director/CEO of Wema Bank, Moruf Oseni, has stressed the need to provide a platform to address fundamental issues impacting Micro, Small and Medium Enterprises (MSMEs) and Women in Nigeria, while also focusing on climate issues. Oseni spoke at the Bank’s Donor Roundtable, tagged: “Innovative Financing: Gender-lens and climate resilient solution”, held in Lagos. He…
The Exchange Traded Funds (ETFs) market on the Nigerian Exchange (NGX) Limited grew by N12.646 billion in 11 months of 2023. ETFs are amongst the fastest growing asset classes in Nigeria and are classified as Collectives Scheme. The Funds are a more recent asset class in Nigeria and are securities that track the performance of…
The Plateau Chapter of the Joint National Association of Persons with Disabilities (PWDs) has called on the state government to grant employment waivers to employable PWDs, roll out empowerment packages and provide free education and healthcare services to their families. Mr Shindol Aaron, the chairman of the chapter, made the call in a news conference…
Governor Ahmadu Fintiri has presented a N225.8 billion budget proposal for the 2024 fiscal year to the Adamawa State House of Assembly. Tabling the Appropriation Bill before the Assembly on Friday, Fintiri said that the ‘Budget of Reengineering’, has provision for N111.3 billion, representing 49.3 per cent, for recurrent services while N114.5 billion, representing 50.7…
Nigerian National Petroleum Company Limited is to alter how its crude cargoes are priced from next month; a step that traders said may make handling the nation’s barrels more risky. According to a company circular seen by Bloomberg News, NNPC will start pricing its supplies against the monthly average of Dated Brent, the physical-crude benchmark….
The Nigeria Inter-Bank Settlement System has asked banks to delist Payment Solution Service Providers, Switches and Super Agents from its outward payment or transfer list. The NIBSS disclosed this in a recent circular dated December 5, 2023, with Ref: NIBSS/BD/NI/PO/005/051223 to banks. The country’s payment system explained that listing non-deposit-taking financial institutions as beneficiaries contravenes…
To sell your product and achieve profitable sales, consider implementing a comprehensive strategy that encompasses various aspects of marketing, customer engagement, and business operations. Here’s a structured guide: 1. Understand Your Product: – Clearly define the unique selling points of your product. – Identify your target audience and tailor your approach accordingly. 2. Market Research:…
The Etsu Nupe and chairman of the Niger State Council of Traditional Rulers, Alhaji Yahaya Abubakar, has harped on the need for government at all levels to prioritise skills-based education for rapid development. The eminent monarch made the call at the commissioning of four blocks of classrooms, offices and modern toilets built by Sunti Sugar…
Countries Under OPEC has initiated important steps towards maintaining a stable and balanced oil market took center stage at the 36th OPEC and non-OPEC ministerial meeting held via video conference with participating countries. OPEC Permanent Secretary, Ministry of Petroleum Resources, Amb. Gabriel Aduda disclosed this to newsmen in Abuja at the end of a virtual…
The Chancellor of the Federal University Dutsinma, Katsina State, King (Dr) Dandeson Douglas Jaja, has expressed concern over security challenges facing the institution. Speaking during the institution’s 7th and 8th joint convocation ceremony on Saturday, he revealed that the university’s main campus is located in a volatile area prone to kidnappings and bandit attacks. Jaja…
The House of Representatives continued its debate on the 2024 appropriation bill on Friday in Abuja, with some lawmakers demanding increased funding for transportation, health, and education. Rep. Fredrick Agbedi (PDP-Bayelsa) said that in the area of transportation, the people from the riverine areas were the most neglected, saying that no reference was made to…
The Global Industry Standard in Oil and Gas Safety, Skills, and Competence OPITO and The Engineering Construction Industry Training Board ECITB on Thursday the 30th of November extended the deadline for the ongoing Oil and Gas Technical Apprenticeship Program (OGTAP) recruitment application by one month. The online application portal, which opened on Sunday, October 1,…
Mrs Caroline Wura-Ola Adepoju has been appointed and attested as the substantive Comptroller-General of the Nigeria Immigration Service (NIS). Adepoju made this know while addressing men and officers of the NIS at a routine parade on Wednesday. She said the date for her decoration would soon be made public in due time. “You may also…
The United Nations Educational, Scientific and Cultural Organization (UNESCO) says the organization remains committed to addressing issues of harassment, violence, impunity and crimes against journalists. Between January 2019 and June 2022, the Organization had documented 759 individual attacks against journalists, including 5 killings, during 89 elections in 70 countries. Addressing African Journalists in Addis Ababa,…
The West Africa Broadcast and Media Academy (WABMA) has appointed Mike Msuega Yawe as its Executive Director of Business Development, a role that places him in charge of the growth and expansion of the academy. A statement by the Rector of WABMA, Ken Okere says Mr Yawe is joining WABMA at a time when the…
President, Nigerian Economic Society {NES}, Professor Adeola Adenikinju, has lamented the low investments in the nation’s energy sector due to vandalism and oil theft. The expert in Petroleum Economics noted that this portends great danger for the economy of the country in the future. The professor of petroleum economics at the University of Ibadan lamented…
The Federal Government has set up an implementation committee on the African Continental Free Trade Agreement which Nigeria is one of the signatories. The committee has also engaged the National Bureau of Statistics to develop data that can be used to data in the implementation of the agreement The Statistician-General of the Federation and Chief…
The Central Bank of Nigeria, CBN, has postponed the meeting of its Monetary Policy Committee, MPC, for the second time since September 2023. Isa Abdulmumin, the director of corporate communications of the apex bank, confirmed that the MPC meeting will not be held. Since the appointment of Olayemi Cardoso, the meeting of the MPC –…
President Bola Tinubu will, on Saturday November 18, depart Abuja for Berlin, Germany, to attend the G20 Compact with Africa (CwA) Conference on November 20, 2023, hosted by German Chancellor Olaf Scholz. According to a statement by his media aide Ajuri Ngelale, President Tinubu will join other Heads of State and Government of CwA member…
Plans are on by the federal government to establish the Nigeria Institute of Vocational Studies alongside upgrading the infrastructure of secondary and tertiary vocation systems. Senior Special Assistant to the President on technical, vocational and entrepreneurial education, Abiola Arogundade, made this known at the unveiling ceremony of the House Committee on Federal Polytechnics and higher…
The National Executive Council of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have insisted that the nationwide strike begin on Tuesday, November 14, 2023. Following a meeting on Friday in Abuja, the union’s leadership decided to move on with a statewide strike in response to unpaid salaries for members and the…
Members of the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) on Thurday have mobilised their members for a protest at the Nnamdi Azikiwe International Abuja. The organized labour gathered at the airport around 8:58am to enforce their directive to members working in the aviation sector to stop all flights to Owerri, the…
The National Executive Council of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have declared a total nationwide strike effective next Tuesday, November 14. Also, the two unions said there will be “national action on Imo State” from Tuesday (Today) from Midnight. The leadership of the two unions reached the resolution after…
Nigerian celebrity chef Hilda Bassey has reacted as an Irish chef based in Japan, Alan Fisher, broke two Guinness World Records for the longest cooking marathon by an individual. Alan Fisher, an Irish restaurant owner and chef based in Japan, on Monday broke two Guinness World Records relating to cooking marathons. Fisher cooked continuously for…
The Nigeria Labour Congress (NLC) says the Congress will go ahead with the Mass Protest in Imo State to save workers in the state from violation of the their rights and privileges on Wednesday November 1, 2023. President of the Nigeria Labour Congress, Comrade Joe Ajaero made this known at a Press Conference in Abuja….
President Bola Tinubu on Sunday received the German Chancellor Olaf Scholz at the Presidential Villa in Abuja. The two leaders are expected to explore ways of fortifying the bilateral relations between the two countries. Olaf Scholz who arrived at the Nnamdi Azikiwe International in Abuja, the nation’s capital at about 2:20pm Nigerian time, was received…
The Nigeria Labour Congress (NLC) is to address a World Press Conference today following the failure of the Federal Government to fulfill its part of the agreement signed with the organised labour on steps to ameliorate the plights of workers following the subsidy removal. In a media invitation released to newsmen in Abuja, the Congress…
The Chairman of Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Mr. Mohammed Bello, says the agency has recovered unremitted revenue worth over N500 billion belonging to the federation from some Institutions. Mr. Bello disclosed this during an interactive session with House of Representatives’ Committee on Finance at the National Assembly. He stated that the sum…
Workers of the Nigerian Postal Service (NIPOST) have shut down the head office of the service in Abuja, protesting the appointment of Tola Odeyemi as Chief Executive Officer/Postmaster-General. Ajuri Ngelale, a Presidential spokesman, announced last week that President Bola Tinubu changed the leadership of under the Ministry of Communications, Innovations and Digital Economy., including NIPOST….
The World Bank’s chief economist warned Wednesday that interest rate hikes could spell trouble for countries struggling to deal with debt. The US Federal Reserve, the European Central Banks and others have raised rates and warned that they could remain high longer than expected in order to bring down elevated inflation. The InternationatoFund said Tuesday…
