Business & Economy - Page 107

The Naira on Monday depreciated at the official market, trading at N1670.65 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N70.65.

Northern States Governors, Emirs and chiefs have rejected the proposed Tax Amendment Bill sent to the National Assembly by the federal government, saying it is capable of jeopardising the wellbeing of the people of the region. The Northern leaders said while

In an apparent bid to exculpate himself from the sleaze and opacity that have dogged the oil sector management under his watch, President Bola Ahmed Tinubu (PBAT) has denied that he is the nation’s petroleum minister, the political head of the oil

In a demonstration of its support for the federal government’s CNG Initiative, which aims to provide cheaper and cleaner fuelling alternatives for all Nigerians, Dangote Cement Plc has made significant investments exceeding $280 million in compressed natural gas (CNG) technology and infrastructure.

Nigeria is at a pivotal moment in its economic evolution, facing the potential to harness its vast agricultural resources for non-oil export promotion. The nation, rich in arable land and agricultural diversity, is positioned to transform its economy by scaling up agricultural

In a significant response to the nation’s rising cost of living, Governors across Nigeria have announced revised minimum wages for state civil servants, signaling increased attention to labor welfare. The federal minimum wage, recently set at ₦70,000, served as a baseline that

Mike Tyson has invested in the plant-based food sector. According to a press release, Carma HoldCo, the parent company of cannabis brand Tyson 2.0, has made an investment in Mr. Charlie’s Told Me So (TMS), a quick-service plant-based restaurant. Co-founded by Aaron Haxton and Taylor

Electricity distribution companies in Nigeria (DisCOS) have announced a  collection  of a total of N168.7 billion revenue in August,  achieving a collection efficiency rate of 80.91%, according to a report released by the Nigeria Electricity Regulatory Commission (NERC). According to the report,

Nigeria’s public debt surged to N134.3 trillion ($91.3 billion) in the second quarter of 2024, marking a 10.35% increase from N121.7 trillion ($91.5 billion) recorded in the first quarter, according to a report by Daily Query, which cited an exclusive document from

The Nigerian National Petroleum Company Limited (NNPCL) has officially commenced efforts to settle its $6 billion debt, according to Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister for the Economy. Edun made the announcement during a meeting with investors in