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Business - Page 374

Heirs Energies Agrees $750m Afreximbank Financing to Drive Long-Term Growth

Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has executed a USD 750 million financing with the African Export–Import Bank (Afreximbank). The transaction was concluded at a signing ceremony in Abuja on Saturday 20th December 2025, attended by Mr. Tony

December 21, 2025

Emirates To Suspend Flights To Nigeria Over Inability To Repatriate Earnings

Business·News·Transport

Emirates To Resume Operations In Nigeria- Keyamo

Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed that Emirates Airlines is on the brink of unveiling the much-awaited date for the recommencement of its flights into Nigeria. During an official communication via his Twitter handle on Sunday, Keyamo highlighted the

November 20, 2023

Africa Banker Awards 2023: Full Nominees List

Africa·Business·News

AfDB Unveils Programmes To Bolster Macro-Economic Governance In Africa

In a bid to fortify Africa’s economic landscape and foster sustainable development, the African Development Bank (AfDB) Group has initiated tailor-made programmes aimed at enhancing institutional capabilities for robust macro-economic management and public policy governance. This initiative seeks to expedite inclusive growth

November 20, 2023

Business·Markets·News

FMDQ FX Turnover Surges To $793 Million Amid Market Dynamics

Last week saw a surge in the turnover at the FMDQ Securities Exchange, reflecting a notable uptick of 17% to reach $793 million. This surge, indicating resilience amidst market dynamics, reveals interesting insights into Nigeria’s financial landscape. Experts analyzed the data from

November 20, 2023

Business·News·Oil & Gas

Fuel Scarcity Looms In South-East, South-South, Others As IPMAN Threatens To Stop Supply

Residents of South East, South-South and North Central zones in Nigeria may suffer another round of petrol scarcity as the Eastern zone of the Independent Petroleum Marketers Association of Nigeria (IPMAN), has threatened to withdraw services next week.

November 19, 2023

Nigerians Spend N80.98 billion On Drugs In 2022 – Companies That Benefited From It

Business

Nigerians Begin Feeling Impact Of GSK’s Exit As Pharma Product Prices Hit The Roof

The impact of the departure of GlaxoSmithKline’s (GSK) from Nigeria on August 3, 2023 is terribly being felt in the country’s pharmaceutical market as Nigerians have to grapple with as high as 1000 per cent increase in the prices of the company’s

November 19, 2023

Business·News

Morgan Stanley Forecasts Nigeria’s Economic Renaissance Under Tinubu’s Policies

Global investment titan Morgan Stanley has articulated a bright forecast for the nation under President Bola Tinubu’s policies. The firm’s published article, titled “Investment Outlook: Nigeria’s New Dawn,” lays out a compelling case for potential economic growth and investment opportunities in the African

November 19, 2023

U.S. Consul General Praises Launch Of Solar-powered Cold Storage Facility In Enugu

Africa·Business·News·Technology

US Pledges $450 Million In DTA initiative, Emphasizes Partnership

The United States Consul General in Nigeria, Will Stevens, made an announcement the pledge of $450 million to launch the Digital Transformation with Africa (DTA) initiative, initiated by President Biden in 2022, aimed at fostering collaboration with African nations. Stevens made this announcement at

November 19, 2023

Business·Finance & Economy·News

Prices Of Rice To Soar By 32% In 2024 Despite Expected Production Increase – Report

In an agricultural forecast for the upcoming year, the AFEX Wet Season Crop Production Report for 2023 has projected a surge of 32% in the price of paddy rice. This price hike is foreseen despite an expected 3.6% increase in production output, marking

November 19, 2023

Africa·Business·Finance & Economy·News

High Taxes Hinder Smartphone Access In Africa, GSMA Urges Collaborative Solutions

The Global System for Mobile Telecommunication Association (GSMA) underscored the detrimental effects of taxation on smartphone adoption in Nigeria and Sub-Saharan Africa. According to their report, taxes and duties contribute to the increased costs of smartphones in the region, hindering accessibility for

November 19, 2023

Food Prices Increase By 31% In Ebonyi, Abia

Business·Finance & Economy·News

Food Inflation Declines In Nigeria Amidst High Prices; NBS Reports 0.54% Decrease In October

In a turn amidst Nigeria’s soaring inflation, the National Bureau of Statistics (NBS) unveiled a decline of 0.54 percent in food inflation for October, marking a glimmer of hope amid economic concerns. In its report, the NBS highlighted a reduction in food

November 19, 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 374

Heirs Energies Agrees $750m Afreximbank Financing to Drive Long-Term Growth

Emirates To Resume Operations In Nigeria- Keyamo

AfDB Unveils Programmes To Bolster Macro-Economic Governance In Africa

FMDQ FX Turnover Surges To $793 Million Amid Market Dynamics

Fuel Scarcity Looms In South-East, South-South, Others As IPMAN Threatens To Stop Supply

Nigerians Begin Feeling Impact Of GSK’s Exit As Pharma Product Prices Hit The Roof

Morgan Stanley Forecasts Nigeria’s Economic Renaissance Under Tinubu’s Policies

US Pledges $450 Million In DTA initiative, Emphasizes Partnership

Prices Of Rice To Soar By 32% In 2024 Despite Expected Production Increase – Report

High Taxes Hinder Smartphone Access In Africa, GSMA Urges Collaborative Solutions

Food Inflation Declines In Nigeria Amidst High Prices; NBS Reports 0.54% Decrease In October

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