Nigeria burns up N373b through gas flaring in H1 2023 – NOSDRA Gas flaring cost the treasury N373 billion in the first half of the year ending June (H1 2023) as the waste rose 10 per cent year-on-year (YoY) to 138.7 million metric standard cubic feet (mscf) from 126.1 mscf[Read More…]
Nigeria, Benin customs to address concerns Nigeria Customs Service (NCS) has promised to address issues of concerns with Republic of Benin Customs. This is in line with the government’s drive to facilitate trade and improve Nigeria’s economy to become globally competitive, according to the National Public Relations Officer, Chief Superintendent[Read More…]
Germany Approves 10m Euros for infrastructure projects in Nigeria The German government, through its Federal Ministry for Economic Cooperation and Development (BMZ), has approved 10 million Euros to expand infrastructure in Nigeria and other parts of Africa. The African Development Bank (AfDB) and KfW announced the replenishment of the[Read More…]
CBN warns banks over Russia, Iran, Cameroon transactions The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) and Other Financial Institutions (OFIs) in the country to be wary of transactions with businesses and persons in the Russian Federation, the Democratic People’s Republic of Korea, Iran and Cameroon.[Read More…]
Nigeria inflation may hit 30%, Bank of America warns The Bank of America has said the Monetary Policy Committee of the Central Bank may need to increase interest rates by at least 700 basis points before the end of the year to curb inflation. In an interview with Bloomberg on[Read More…]
World Energy review reveals slump in Nigeria’s gas production • LNG Exports Drops To 19.6bcm, Lowest In Last Decade This may not be the best of time for Nigeria’s hydrocarbon sector, as its natural gas production declined to 40.4 billion cubic meters (bcm) in 2022. The June 2023 Statistical Review[Read More…]
Paris Summit: Nigeria ready for business, says Tinubu President Bola Ahmed Tinubu, on Thursday, said Nigeria is ready for business, and assured investors that the country is ready to welcome them. President Tinubu gave the assurance on Thursday in Paris, France when he received President and Chairman of the[Read More…]
Jumia Restates Commitment to Nigeria’s e-Commerce Growth A leading pan-Africa e-commerce platform, Jumia has reaffirmed its dedication to providing an exceptional shopping experience, empowering businesses and making e-commerce accessible to all Nigerians as it celebrates its 11th anniversary. It also reaffirms meeting the shopping needs of consumers beyond the main[Read More…]
UK adjusts trading rules for Nigeria, 65 others The United Kingdom, UK, government has significantly simplified trading rules for Nigeria, and 65 other African countries. Under the new rules the UK will remove duties on cocoa, tomatoes and other products. The move under its new post-Brexit Developing Countries[Read More…]
Inventory Finance: The Empowering Ally of Small Businesses in Nigeria By Abang Emenyi Amina, a small grocery store owner in bustling Lagos, Nigeria, is the embodiment of resilience. Her store is an essential hub in her local community, a place where neighbours can find everything from essential food items to[Read More…]
