Business

Nigeria’s inflation rate jumped to 27.33% in October 2023 as prices of food stuffs continue to increase in the aftermath of the removal of fuel subsidy by the President Bola Tinubu administration. This was according to the October…

BUA Group, in a comprehensive statement issued this afternoon, Friday, November 3, has responded to allegations from Dangote Group expressing dismay at what it perceives as baseless blackmail. Both conglomerates, owned by Nigerian…

Pay-Tv operator, Multichoice Nigeria has announced another price increment across its DStv and GOtv packages by at least 19%. Coming as the second increment this year after the first one was implemented on May 1, 2023, Multichoice…

The Central Bank of Nigeria (CBN) on Tuesday denied claims that it plans to redenominate the country’s currency – Naira – with effect from January 2024. This was disclosed in a statement by the CBN’s Director of Corporate…

The National Lottery Trust Fund (NLTF) executive secretary, Bello Maigari, claims that despite their difficult financial situation, Nigerians spend billions of dollars annually on betting. This was revealed by Maigari at the biennial…

Senior Advocate of Nigeria, Femi Falana, has written to the Minister of Finance, Olawale Edun, urging him to direct the Nigerian National Petroleum Corporation Limited (NNPCL) to remit the sum of $34.2bn to the Federation account. By…

In order to increase its revenue base, the Federal Government plans to impose an excise fee (VAT) on communications services. It made this disclosure in its recently published Fiscal Strategy Paper and Medium-Term Expenditure…

Nigeria’s inflation rate rose to 26.72% in September 2023 amid soaring food prices and harsh economic realities occasioned by the removal of fuel subsidy in May. This was according to the September 2023 Consumer Price Index (CPI) and…

The telecom operators' plans to implement a state rate tariffs for calls, data, and other telecom services have been met with opposition from subscribers. In response to a recent action by telecoms, the subscribers' organisation…

The Central Bank of Nigeria (CBN) issued a directive instructing commercial banks on Monday to refrain from utilizing their foreign exchange revaluation gains for dividends and operational expenditures. The new directive was conveyed…

The National Bureau of Statistics (NBS) announced in April 2023 that it intended to implement a new approach that complied with the most recent International Labour Organisation (ILO) recommendations for calculating labour force…

The National Bureau of Statistics (NBS) says Nigeria’s unemployment rate dropped to 4.1 percent in the first quarter (Q1) of 2023, from 5.3 percent recorded in the previous quarter. In the fourth quarter (Q4) of 2020, the bureau had…

The Central Bank of Nigeria criticised the latest estimate by JP Morgan of the nation's foreign reserves, claiming it was "out of context." JP Morgan predicted earlier this week that the CBN's net foreign exchange reserves will…

Tony Elumelu, the chairman of Heirs Holdings, claimed that discipline, hard work, and sacrifice, rather than coming from a wealthy family, were what propelled him on his incredible journey to becoming one of the nation's leading…

The exit of GlaxoSmithKline (GSK) Consumer Nigeria Plc, according to the Manufacturers Association of Nigeria, has decreased manufacturers' confidence for the remainder of 2023. Segun Ajayi-Kadir, the association's director general,…