Business

The three tiers of government on Friday shared a total sum of N1.088.783 trillion as revenue allocation for November. The Federation Account Allocation Committee (FAAC) disclosed this in a communiqué issued at the end of its meeting in Abuja. According to the committee, the distributable revenue comprised statutory revenue of N376.306 billion, Value Added Tax (VAT) revenue of N335.656 billion, …

The Nigerian National Petroleum Company Limited (NNPCL) has appointed new executive vice presidents for its upstream, downstream, gas and power operations. NNPC made changes to its leadership role with the appointment of Oritsemeyiwa A. Eyesan as the Executive Vice President, Upstream and Olalekan Ogunleye taking the position of Executive Vice President, Gas, Power, and New Energy. Also, Adedapo Segun was …

Nigeria’s inflation rate for the eleventh consecutive month rose higher, reaching 28.2 percent in October 2023, according to the National Bureau of Statistics (NBS). The NBS which made this known on Friday in its CPI report for November said the consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 28.2 percent …

Despite the assurances by the Central Bank of Nigeria (CBN) that cash I circulation has hit N3.4tr and repeated statements by the apex bank on the availability of the domestic currency, checks by Ripples Nigeria has shown that the cash scarcity persists in most parts of Lagos and Ogun states. Visits to several Automated Teller Machines (ATMs) show machines that …

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 …