Business

The Senior Special Assistant to Gov. Alex Otti on Due Process, Dr Oluebube Chukwu, said the Abia State Government has adopted private sector participation to build an efficient waste management system in the state. Chukwu said this while speaking to newsmen on the sideline of this month’s environmental sanitation in Umuahia. Abia State Government on June 23 invited bids from …

Amid a headwind of challenges ranging from multiple taxation, forex scarcity, and low patronage of locally produced goods, the debt owed by manufacturers to banks in the country has hit N6.98 trillion in the first half of 2023. The figure rose from N5.56 trillion in January 2023 to N6.98 trillion by June 2023 signifying N1.42 trillion increase. The figure also …

The top 10 contributing sectors to Nigeria’s real Gross Domestic Product (GDP) in the second quarter (Q2) of 2023 are lead by Crop production, while other services completed the list. Ripples Nigeria previously reported on Friday that the National Bureau of Statistics (NBS) disclosed Nigeria’s GDP grew by 2.51 per cent in real terms in Q2 this year, compared to …

Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week —from the capital market to the mainstream business activities, while not forgetting the tech/economy build up. Here are the Headlines: Lawmakers summon CBN, DISCOs, over alleged misappropriation of $321m, N18bn electricity projects loans NAFDAC warns against consumption of G Fuel …

Property investment in Nigeria has become increasingly popular in recent years due to the country’s growing population, urbanization, and potential for high returns. Lagos, the commercial capital, is a particularly popular location for property investment. However, the Nigerian real estate market can be complex due to a number of factors, including land ownership disputes, regulatory challenges, and infrastructure gaps. Before …

Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the mainstream business activities, while not forgetting the tech/economy build up.   Here are the Headlines: · World Bank to partner Nigerian govt on digital national IDs · Nigeria’s GDP rises by 2.51% in Q2 …

At the just concluded week, Nigerian stock market traders exchanged N29.299 billion in 31,163 deals to trade 1.812 billion shares within five days. During trading the previous week, investors in the stock market traded 1.689 billion shares, valued at N29.407 billion, in 29,477 deals. Top NGX performing sector The Financial Services Industry topped the table by volume of shares traded, …

Cement Producers Association of Nigeria has said the price of cement could rise from N5,000 to N9,000 due to the Federal Government’s decision to replace conventional asphalt with concrete to construct roads. The National Chairman of the body, David Iweta, and the National Secretary, Reagan Ufomba, in a statement on Monday, said without proactive steps, the decision could lead to …

The House of Representatives Public Accounts Committee has summoned the Central Bank of Nigeria (CBN) and 11 Electricity Distribution Companies (DISCOs) to provide clarification over alleged mismanagement of loans amounting to US$321 million and N18.2 billion allocated for projects aimed at expediting the development of transmission and distribution interfaces, lines, and substations. The summon was issued by Chairman of the …

The National Agency for Food and Drugs Administration and Control (NAFDAC), has warned the Nigerian public against the consumption of a recalled energy drink known as ‘G Fuel’ due to the high level of caffeine it contains. The warning which came from a public alert with No. 034/2023, issued in Abuja on Thursday by NAFDAC Director General, Prof Mojisola Adeyeye, …