Business

Nigeria, South Africa and other African countries have been projected to be losing as much as $90 billion to illicit financial flows annually. This is according to the Chief Economist and Vice President, African Development Bank (AfDB), Prof. Kevin Urama who noted that much more is lost in illicit resource flows and resource theft, poorly implemented fiscal policy incentives, and …

Trading activities ended on a positive note on Thursday with a 0.22% growth in the All-Share Index (ASI). The ASI rose by 156 basis points to close at 72,455.83 from 72,299.79 posted by the bourse on Wednesday. In the same vein, the market capitalization rose by N85.3 billion to N39.649 trillion from N39.564 trillion recorded the previous day. 26 stocks …

Following the sacking of the chief executive officers of the aviation agencies in Nigeria by President Bola Amed Tinubu on Wednesday, the Federal Government has again dismissed all directors of civil aviation agencies in the country. This is even as all the affected directors have been ordered to hand over to the most senior officer in their various directorates with …

In the changing landscape of business today it is evident that the job of a manager in business has become a multi-faceted job that requires a mix of tactical insight, operational knowledge as well as a client-centric approach. One of the prominent figures in this area includes David Bolno, whose dedication to helping clients is highlighted clearly. In this in-depth study, we …

The Executive Vice-Chairman of the Nigeria Communications Commission (NCC), Prof. Umar Danbatta, said on Saturday that investment inflow into the country’s telecommunication sector rose by $39 billion in the second quarter of this year. Danbatta, who spoke at a media parley, said investments in the sector rose from $38 billion to $77 billion during the period. He added that the …

Amid the declining crude production recorded in November 2023, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has expressed optimism that Nigeria can achieve crude oil production of up to 2 million barrels per day (bpd) and exceed the 2024 target of 1.7 million barrels per day (bpd). Lokpobiri expressed this optimism during a stakeholder interactive session on …

President Bola Tinubu on Wednesday assured investors of a sustainable and friendly environment for growth in the country. The president, according to a statement issued by his Special Adviser on Media and Publicity, Ajuri Ngelale, gave the assurance when the Managing Director of Energy and Natural Resources in Europe, Africa, and the Middle East for Standard Chartered Bank, Mr. Ade …

The Development Bank of Nigeria (DBN) has again emerged as the highest-ranked public institution in Nigeria in the 2023 Transparency and Integrity Index (TII). The TII index recently released by the Center for Fiscal Transparency and Integrity Watch is a collaboration between the Centre for Fiscal Transparency and Integrity Watch (CeFTIW) and the Bureau for Public Sector Reform, with support …

The Nigerian National Petroleum Corporation (NNPC) Limited on Wednesday secured a $3 billion emergency crude repayment loan from the African Export-Import Bank (Afreximbank) to stabilise the naira. The company confirmed the development in a terse statement in Abuja. Ripples Nigeria gathered that the loan would be repaid with crude oil at an interest rate of eight percent to 11 percent. …

Nigeria’s headline inflation rate for August 2023, rose to 25.80 per cent, marking a 1.72 point higher than the 24.08 per cent recorded in July. This was indicated in the Consumer Price Index (CPI) report for August 2023 recently released by the National Bureau of Statistics (NBS). The significant increase reflected the impact of the removal of petrol subsidies, and …