Category: Business

The Lagos Chapter of the Nigerian Institution of Mechanical Engineers is actively promoting the adoption of liquefied gas as a means to create a more sustainable environment in Nigeria. During a recent business luncheon with a focus on refilling plants, industry experts highlighted the advantages of using liquefied gas, particularly in the reduction of gas…

The Centre for the Promotion of Private Enterprise (CPPE) has called on the Federal Government to take immediate action by introducing tax incentives for low-income employees and small businesses, as well as reducing import duties on specific products. These measures are seen as crucial in mitigating the impact of recent reforms and alleviating the inflationary…

Aliko Dangote Retains Title as Africa’s Richest Man, Bloomberg Billionaires Index Confirms According to the Bloomberg Billionaires Index (BBI), Aliko Dangote, the President of Dangote Group, has been reaffirmed as the richest man in Africa, despite the fluctuations in the Nigerian currency against the US dollar. In the recent daily release of the top billionaire…

Nigeria’s intra-African trade has failed to meet expectations despite the introduction of the African Continental Free Trade Area (AfCFTA). In the first quarter of 2023 (Q1’23), the trade value experienced a significant decline of 11.95%, dropping to N842.6 billion from N956.93 billion in Q1’22. The AfCFTA aims to facilitate the free movement of goods and…

Shell Petroleum Development Company-operated joint venture, along with Nigerian National Petroleum Company Ltd, TotalEnergies, and NAOC, has launched the “Vision First Initiative” as part of their Corporate Social Responsibility. The initiative aims to provide free eye care services, including surgeries, in Bayelsa and Rivers states. The programme, which is an extension of SPDC’s Health-in-Motion medical…

Bayern Munich announces the conclusion of their contentious partnership with Qatar Airways Bayern Munich confirmed on Wednesday that they have chosen not to renew their sponsorship deal with Qatar Airways, which has been a subject of controversy due to human rights concerns in Qatar. The agreement, which lasted for five years, will come to an…

The Central Bank of Nigeria (CBN) has introduced new guidelines that set limits on contactless payments, as revealed in circulars issued on Tuesday. The guidelines, aimed at standardizing operations in the payments system and promoting innovation while maintaining financial system stability, require banks, financial institutions, and payments service providers to adhere strictly to the regulations.…

Bluetti, a leading brand in the energy storage industry, has introduced innovative solar power solutions to tackle the ongoing surge in fuel prices. Recognizing the financial strain faced by businesses and households in Nigeria due to the rising fuel costs, Bluetti aims to provide reliable, cost-effective, and eco-friendly energy options. In response to the current…

Experts believe that the ongoing foreign exchange reforms by the Central Bank of Nigeria (CBN) have the potential to attract foreign portfolio and direct investors back into the country. The volatility of Nigeria’s previous multiple exchange rate regime was cited as a major reason for the decline in foreign portfolio investment in the country’s stock…

Michael Olise, who has caught the attention of Paris Saint-Germain (PSG), has unfortunately suffered a hamstring injury while representing France U21s. The injury has raised concerns about his availability for the remainder of the tournament as well as his pre-season preparations. The talented playmaker from Crystal Palace immediately signaled for a substitution after colliding with…