Category: Business

On Friday, Naira fell marginally against the US dollar at the Investors’ and Exporters’ window. The development further extended Naira losses to two successive days at the FX market amid weeks of a currency crisis. According to data published on the FMDQ website, an official platform for trading forex, the domestic currency closed at ₦461.75 […]

Inaccurate measurement in the Nigerian oil and gas industry is responsible for about 40 percent of crude oil losses attributed to oil theft in the Niger Delta region, the Nigerian Upstream Petroleum Regulatory Commission, NUPRC has said. The Federal Government had last year estimated that about 200,000 barrels of oil was lost daily in Nigeria […]

Ahead of the general elections around the corner, the Lagos State Governor Babajide Sanwo-Olu, who is also the standard bearer of the All Progressive Congress, APC, for Lagos state, has   reiterated commitment of his administration to sustain strategic investment in infrastructure to bolster productivity, energise business growth and protect private investments. Speaking at an interactive meeting […]

The Association of Professional Food Service Providers of Nigeria, APFSPN, has said that the reason why so many businesses are going into extinction is zero strategy for succession planning. Speaking at the 2023 Annual Conference and Induction of new members into the association, Chairperson, APFSPN, Mrs. Monioluwa Osho, said that succession planning is a strategy […]

*NDPB generates N94m in one year *Data sector now worth over N5.5b There are very common clichés today which sell the narrative that every other thing that gives wealth may soon give way to data. They include, “data is king”, “data is the new oil”, and “data is the new wealth” The connecting point in […]

There are indications that dependence of Nigeria’s manufacturing sector on imported raw materials is increasing as the value of raw material imports rose to N649.21 billion in the third quarter ended September 30, 2022 (Q3’22). This represents a 23.9 percent Year-on-Year (Y/Y) increase against N523.97 billion the manufacturers spent on raw materials import in the […]

In a statement, this afternoon it described  media reports that De-la-Rue of the United Kingdom was supplying it paper Substrate, as false. The company equally debunked the reports that it was having challenges in printing the new Naira notes.  The statement signed by the Managing Director of the MINT, Ahmed Hahlilu, reads in full,  “The […]