Business
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President Bola Tinubu has effectively secured an impressive commitment of $3 billion in investment from Indian entrepreneurs, aimed at revitalizing the steel industry within the nation. This is according to a statement by Mr Abdullahi Haruna, Special Assistant, Media and Publicity to Minister of Steel Development, Prince Shauib Audu, in Abuja on Wednesday. The president […]
The National Bureau of Statistics (NBS) has reported a decline in Nigeria’s unemployment rate, falling from 5.3% in the fourth quarter of 2022 to 4.1% in the first quarter of 2023. This was disclosed in a report titled, ‘Nigeria Labour Force Statistics Report Q4 2022 & Q1 2023’ which was released on Thursday by the […]
In accordance with the August 2023 monthly oil market report from the Organization of the Petroleum Exporting Countries and Allies (OPEC+), the oil rig count rose significantly to 14 during Q1 2023, up from 8 rigs in Q1 2022. However, despite this increase, the total production of crude oil and condensates experienced a month-over-month decline […]
The average price paid by Nigerians for Premium Motor Spirit, known as fuel, increased by 215.95 per cent in July 2023 compared with the value it recorded in the same month last year. The National Bureau of Statistics recently disclosed this in its July Premium Motor Spirit (Petrol) Price Watch. The report stated that the […]
The Nigerian Exchange Limited (NGX) has imposed fines totaling N32.74 million on eight listed companies due to their failure to submit their unaudited financial statements by the regulatory deadline. These sanctions were enacted in 2023 after an investigation by Nairametrics revealed that these companies had not met the regulatory requirements during the first quarter of […]
Aviation workers in Nigeria, represented by the National Union of Air Transport Employees (NUATE), have announced the suspension of their planned strike set to commence on August 16. This decision was conveyed in a statement released by Mr. Ocheme Oba, the General Secretary of NUATE, on Wednesday in Lagos. The strike was averted after regulatory […]
Vice President Kashim Shettima, has commended Google’s N1.2 billion grant initiative for the President Tinubu administration’s one million jobs initiative. Mr Shettima made the commendation when he received in the audience some executives of Google, a leading global technology company, at the Presidential Villa, on Tuesday in Abuja. According to him, the announcement of a […]
Plans are not underway by the President Bola Tinubu-led government to reintroduce fuel subsidy, Senior Special Assistant to the President on Media and Publicity, Tope Ajayi, has said. Ajayi said this while reacting to a report that the president was considering temporary subsidy on petrol as a result of rising crude oil prices and foreign […]
Siemens, the German engineering company, has announced an extension of the anticipated completion date for the comprehensive revitalization of Nigeria’s power infrastructure. Originally projected for completion in 2025, this transformative initiative will now be extended to the year 2030. The project which is part of the Presidential Power Initiative (PPI), is a power upgrade and […]
Rising from an emergency meeting of the Board of Directors on Tuesday July 25, Nigerian Exchange Group Plc (NGX Group) announced an interim dividend of 25 kobo per ordinary share of 50 kobo each, distributable to shareholders for the first half (H1) of financial year 2023. This dividend, which is the first since the demutualisation […]
