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Finance & Economy - Page 158

Venezuela Says U.S. Oil Sales Proceed Commercially as Revenues Climb Into Billions

Venezuela’s interim president, Delcy Rodríguez, has defended recent crude oil sales to the United States as strictly commercial transactions conducted through the state oil company, Petróleos de Venezuela, S.A. (PDVSA), insisting that pricing mechanisms follow international norms and that proceeds are being

February 13, 2026

"No Omelette Without Breaking Eggs"- Sanwo-Olu Explains Nigerians' Resistance To Tax Reform Bills

Business·Finance & Economy·News

AfDB Report Reveals Lagos Budget Disparity, Ignites Wasteful Spending Outcry

The African Development Bank (AfDB) has uncovered startling revelations about Lagos State’s budget allocation and its impact on the city’s impoverished population. The report titled From Millions to Billions: Financing the Development of African Cities’, highlighted that despite a significant portion of the

November 20, 2023

Africa·Business·News·Oil & Gas

German Chancellor Pledges $4.4 Billion For Africa-EU Green Energy Initiative

In a commitment during the G20 Compact with Africa Investment Summit in Berlin today, German Chancellor Olaf Scholz announced $4.4 billion funding injection into the Africa-EU Green Energy Initiative, aiming to span until 2030. Expressing a proactive stance, Scholz highlighted Germany’s intention

November 20, 2023

Official Market Records Decline In Dollar Rate, Trade Flat In Black Market

Business·Currency·News

13 Nigerian States Reap N71.59 Billion Forex Profits Amidst Naira’s Depreciation

In a financial upturn that defied the odds, thirteen Nigerian states have raked in a sum of N71.59 billion in foreign exchange revaluation profits within just three months. This revelation surfaced from the latest third-quarter budget implementation reports, showcasing a windfall amidst the Naira’s

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

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

I Was Awake Until 3am So 400,000 NPower Beneficiaries Can Be Paid Before Christmas Minister

Business·Finance & Economy·News

Nigerian Govt Allocates 10% Social Intervention Funds To People With Disabilities

In a move toward inclusivity, Minister Betta Edu emphasized the Federal Government’s commitment to allocating 10% of social intervention funds to empower people living with disabilities (PwDs). Speaking in Abuja during the inauguration of empowerment programs sponsored by the National Commission for

November 18, 2023

How Nigeria’s External Reserves Rose By 5.6% To $38.8bn In 2024 — CBN

Business·Finance & Economy

Fallout Of Fuel Subsidy Removal, Naira Depreciation To Sustain Inflationary Pressure In Near Term -CBN

The effect of the fuel subsidy removal and depreciation of the naira which consequently pushed up cost of things may sustain inflationary pressure in the near term, the Central Bank of Nigeria (CBN) has said.

November 18, 2023

Business·News·Oil & Gas

Seplat Plans $250M Gas Plant In Delta State, Focuses On Energy

Effiong Okon, Seplat Plc's Director of New Energy, revealed the company's blueprint to erect a $250 million gas plant in Sapele, Delta State.

November 18, 2023

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Trump Threatens 100% Tariffs on Canadian Goods Over China Trade Deal

U.S. President Donald Trump has threatened to impose 100 per

Nigeria Tightens Rules for Courier Companies Using Prepaid Imports

Nigeria’s customs authority has introduced new rules for courier companies

Behind the Geregu Power Sale: Politics and a $750m Deal

The sale of Geregu Power, one of Nigeria’s largest electricity

Recapitalisation: UBA Extends Deadline For Rights Issue

UBA Hits Billion-Naira Milestone: Rights Issue Success Pushes Capital Base Above ₦500bn

United Bank for Africa (UBA) has successfully concluded its rights

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Finance & Economy - Page 158

Venezuela Says U.S. Oil Sales Proceed Commercially as Revenues Climb Into Billions

AfDB Report Reveals Lagos Budget Disparity, Ignites Wasteful Spending Outcry

German Chancellor Pledges $4.4 Billion For Africa-EU Green Energy Initiative

13 Nigerian States Reap N71.59 Billion Forex Profits Amidst Naira’s Depreciation

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

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

Nigerian Govt Allocates 10% Social Intervention Funds To People With Disabilities

Fallout Of Fuel Subsidy Removal, Naira Depreciation To Sustain Inflationary Pressure In Near Term -CBN

Seplat Plans $250M Gas Plant In Delta State, Focuses On Energy

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Senate U-Turn or Smoke Screen? Loopholes in Electoral Reform Persist

Opinion: Why Afreximbank’s Break with Fitch Exposes a Deeper Rift

Political Heavyweights Visit El-Rufai, Call for Respect for Rule of Law

U.S. Energy Secretary Wright Visits Caracas to Boost Venezuela Energy Ties

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INEC Clarifies Rationale for 2027 General Election Dates, Signals Possible Review After Stakeholder Concerns

Elumelu Presses Tinubu on Power-Sector Debts

Chinese Embassy Denies U.S. Allegations of Illegal Mining, Terror Funding in Nigeria

Dollar Rate Drops To N1,404/$ In Black Market, Rises To N1,355/$ In Official Window

Trump Threatens 100% Tariffs on Canadian Goods Over China Trade Deal

Nigeria Tightens Rules for Courier Companies Using Prepaid Imports

Behind the Geregu Power Sale: Politics and a $750m Deal

UBA Hits Billion-Naira Milestone: Rights Issue Success Pushes Capital Base Above ₦500bn

INEC Clarifies Rationale for 2027 General Election Dates, Signals Possible Review After Stakeholder Concerns

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Finance & Economy - Page 158

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