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Business - Page 357

Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

The Federal Government of Nigeria has issued its debut bond under the Presidential Power Sector Debt Reduction Programme, raising N590 billion to settle verified arrears owed to power generation companies and gas suppliers. The bond, guaranteed by the full faith and credit

December 21, 2025

Rising Cost Of Drugs Takes Toll On Nigerian Patients As FX Scarcity Hits Hard

Business

Big Pharma Companies’ Exit Further Pushes Drug Prices Up As Imports Rise By 68% In Nigeria

A combination of factors have caused drug prices to hit an all-time high in Nigeria with imports soaring to 68 per cent in third quarter (July to September) 2023.

December 10, 2023

Business·News

REA, NASENI Seal $150 Million Deal With Chinese Investors To Boost Battery Manufacturing

In a move towards enhancing Nigeria’s renewable energy infrastructure, the Rural Electrification Agency (REA) and the National Agency for Science and Engineering Infrastructure (NASENI) have inked a $150 million pact with SHENZEN LEMI Technology Development Company, aimed at bolstering battery manufacturing capabilities

December 9, 2023

Africa·Business·News

AfDB, FSDH Partner For $20M Trade Finance Boost To Nigerian SMEs

The African Development Bank (AfDB) has forged an agreement with FSDH Merchant Bank, signing a $20 million Trade Finance Facility aimed at bolstering support for small- and medium-sized enterprises (SMEs) within Nigeria’s industrial and manufacturing sectors. The deal comprises a $15 million

December 9, 2023

Business·Finance & Economy·News

Moodys Upgrades Nigeria’s Credit Outlook To Positive Amid Inflation Rate Of 27.33%

Moody’s Investors Service, a global rating agency, has shifted Nigeria’s credit outlook from stable to positive, heralding a potential reversal in the country’s fiscal and external decline due to robust government reforms. Announced on Friday, December 8, 2023, Moody’s attributed this upward

December 9, 2023

Business·Oil & Gas

Cooking Gas Price To Crash As FG Lifts VAT, Import Duty On LPG

In a bid to reduce the soaring price of cooking gas in the country, the Nigerian government has exempted the importation of liquefied petroleum gas (LPG) and its equipment from the payment of import duty and value-added tax (VAT). The Ministry of

December 9, 2023

Nigerian Naira Vs U.S. Dollar: What To Expect This Week (17th-22nd, March 2025)

Business·Currency·News

Naira Plunges To N1,099/$1 In Official Market, Triggering Economic Concerns Ahead Of Christmas

The Nigerian Naira hit an unprecedented low, closing at N1,099.05 per dollar on Friday, December 8th, 2023, in the official market. This marked a staggering depreciation from its previous rate, setting a new and concerning trend just weeks before the Christmas holidays.

December 8, 2023

Business·Currency·News

CBN Warns Over Surge In Fake Naira; Urges Vigilance Amidst Growing Concerns

In response to the escalating circulation of forged higher denomination banknotes within various commercial hubs across Nigeria, the Central Bank of Nigeria (CBN) has issued a warning on the surge in fake naira notes, emphasizing severe penalties for counterfeiting currency. Expressing deep

December 8, 2023

Business·News

Why Competition Is Vital For Telecom Sector Growth- NCC

In a meeting with Airtel Networks Limited, Dr Aminu Maida, the Executive Vice Chairman (EVC) of the Nigeria Communications Commission (NCC), stressed the role of competition in fostering a robust telecom sector. During the gathering in Abuja on Wednesday, Maida articulated the Commission’s

December 8, 2023

Business·News

Polaris Bank Pledges Support For Infrastructural Development, Education, Others In Ogun State

The Managing Director/CEO of Polaris Bank, Mr. Adekunle Sonola, pledged support for the development of critical sectors such as infrastructure, education, and others in Ogun State. Speaking with journalists after a courtesy visit to Ogun State Governor, Prince Dapo Abiodun, Sonola emphasized

December 8, 2023

Adesina Spoke Like Peter Obi, Onanuga Reacts Over Claims On GDP Per Capita

Business·News·World News

Africa Risks $25bn Yearly Loss To EU’s Carbon Tax – AfDB’s Adesina Explains How

President of the African Development Bank (AfDB) Dr. Akinwumi Adesina has warned that a new European Union (EU) carbon border tax could significantly constrain Africa’s trade and industrialization progress by penalizing value-added exports including steel, cement, iron, aluminum, and fertilizers. Adesina, while

December 8, 2023

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Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

The Federal Government of Nigeria has issued its debut bond

Dollar Trades Flat In Black Market, Appreciates In Official Window

The dollar traded at N1,487.01/$1 in the parallel market on

Venezuela Condemns Trump’s Threat, Pledges to Defend Sovereignty

The government of Venezuela has condemned what it described as

Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

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Business - Page 357

Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

Big Pharma Companies’ Exit Further Pushes Drug Prices Up As Imports Rise By 68% In Nigeria

REA, NASENI Seal $150 Million Deal With Chinese Investors To Boost Battery Manufacturing

AfDB, FSDH Partner For $20M Trade Finance Boost To Nigerian SMEs

Moodys Upgrades Nigeria’s Credit Outlook To Positive Amid Inflation Rate Of 27.33%

Cooking Gas Price To Crash As FG Lifts VAT, Import Duty On LPG

Naira Plunges To N1,099/$1 In Official Market, Triggering Economic Concerns Ahead Of Christmas

CBN Warns Over Surge In Fake Naira; Urges Vigilance Amidst Growing Concerns

Why Competition Is Vital For Telecom Sector Growth- NCC

Polaris Bank Pledges Support For Infrastructural Development, Education, Others In Ogun State

Africa Risks $25bn Yearly Loss To EU’s Carbon Tax – AfDB’s Adesina Explains How

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