Category: Business
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Oyo State Reabsorbs Traders into New Bola Ige International Market
The Oyo State Government has successfully integrated former market traders into the revamped Bola Ige International Business Complex in New Gbagi, Ibadan. This announcement was made on Tuesday by Adeniyi Adebisi, Commissioner for Trade, Industry, Investment, and Cooperatives, with the statement also endorsed by Dotun Oyelade, Commissioner for Information and Orientation. Adebisi confirmed that the…
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Afreximbank Commits $310M to Boost SMEs in Africa
The African Export-Import Bank (Afreximbank) has pledged to allocate $310 million to support small and medium-sized enterprises (SMEs) across Africa, with a focus on agribusiness. This announcement was made by the bank’s Managing Director of Export Development, Mrs. Oluranti Doherty, during the SME Agribusiness Export-Readiness Accelerator Training held in Abeokuta, Ogun State. Doherty highlighted the…
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Trump Unveils Cryptocurrency Platform, Sparking Financial Debate
Former U.S. President Donald Trump, along with his sons and key entrepreneurs, launched a new cryptocurrency platform on Monday, though details remain scarce. The two-hour virtual event introduced the Trump family’s venture into the digital currency space, offering digital “tokens” that allow users to vote on platform decisions. The announcement came just a day after…
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Deji of Akure Orders Closure of Markets for Annual Amole Festival
The Deji of Akure, Oba Aladelusi Aladetoyinbo, has issued an order for the closure of all markets, shops, and stalls within Akure metropolis in observance of the annual Amole festival. The directive, rooted in the tradition and culture of Akureland, was announced through a statement by the Deji’s Chief Press Secretary, Adeyeye Michael. The statement…
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Financial Sector Grows by 30% in First Half of 2024 – Edun
Nigeria’s financial sector has experienced significant growth, expanding by over 30% in the first half of 2024, according to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. Represented by Dr. Armstrong Takang, Managing Director of Ministry of Finance Incorporated, Edun made the announcement during the 17th Annual Banking and Finance Conference…
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European Stock Markets Fall at Opening Amid Global Economic Concerns
Europe’s major stock markets opened lower on Tuesday, following a strong start to the week, as investors closely monitored global economic data. London’s FTSE 100 index dropped by 0.7% to 8,211.99 points after the release of mixed employment figures from the UK. In the eurozone, the Paris CAC 40 index fell by 0.1% to 7,421.59…
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Dangote Refinery: A National Triumph Over Personal Ambition
By Best Agbese The Dangote Refinery and Petrochemical Company, located in Lekki, a suburb of Lagos, is seven times the size of Victoria Island, another high-end area in Lagos State. The refinery boasts of more than 350 concrete bridges, a port for oil vessels, and approximately 5,000 neatly built apartments for its staff. The refinery…
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Reduce Fuel Price, Nigerians Are Suffering, Tinubu Urged
Ebilade Ekerefe, former spokesperson of the Ijaw Youth Council (IYC) Worldwide, has urged President Bola Tinubu to instruct the Nigerian National Petroleum Development Corporation Limited to reverse the recent increase in petrol prices. In an interview in Yenagoa, Ekerefe expressed concern over the growing economic hardship faced by Nigerians under the APC-led Federal Government. Ekerefe,…
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CBN Approves $20,000 Allocation for BDCs at N1,580 Exchange Rate
In a bid to enhance liquidity in the foreign exchange market, the Central Bank of Nigeria (CBN) has approved the allocation of $20,000 each to eligible Bureau de Change (BDC) operators at an exchange rate of N1,580 per dollar. This strategic move is targeted at addressing the growing demand for invisible transactions within the market.…
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Fuel Price Hike: Diasporans Urge Restructuring Of NNPCL’s Debts, Reassessment Of FG’s Monetary Policies
Nigerians in the diaspora, under the umbrella of Nigerian Professionals in Diaspora (NPID), has called for an urgent reassessment of the country’s monetary policies, following the recent hike in fuel prices. In a statement released signed by Dr Obiora Okereke, President and Chief Mrs Bukola Shonekan, Secretary on Thursday, NPID expressed deep concern over the…