Aba businesses are experiencing significant growth, thanks to ongoing infrastructure improvements in the city. Under Governor Alex Otti’s leadership, these developments are reshaping the commercial landscape of Abia State’s most prominent business hub. This transformation has enhanced the ease of doing business, attracting investors and ensuring that Aba’s bustling markets, like Ariaria International and Ekeoha…
In a remarkable financial turn, Company Income Tax revenue in Nigeria surged by 151% during the second quarter of 2024, climbing from N984.61 billion in Q1 to an impressive N2.47 trillion. This significant growth, reported by the National Bureau of Statistics (NBS), reflects the increasing contributions from both local and foreign companies. This leap highlights…
The Central Bank of Nigeria raises N9.27 trillion through NTBs, driven by investor demand for longer maturities and higher yields. In a move to meet rising investor demand, the Central Bank of Nigeria (CBN) successfully raised N9.27 trillion through Nigerian Treasury Bills (NTBs). The strong interest in NTBs in Nigeria reflects investors’ appetite for longer…
Chiefs Lead Effort to Regulate Prices in Agbalata Market, Badagry In a bold move to control rising costs in Badagry, Lagos, local traditional leaders have taken direct action to regulate food and goods prices at Agbalata Market. The intervention follows directives issued by the Aholu Menu Toyi 1, traditional ruler of Badagry, who disbanded the…
NNPC’s Refusal to Be Sole Buyer May Drive Dangote Refinery to Focus on Exporting Petrol The ongoing dispute between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPC) has cast doubt on the future of local petrol supplies. The NNPC has declared it will not purchase petrol from Dangote’s facility unless it is priced…
Nigeria has witnessed a sharp rise in its external debt servicing costs, which surged to $2.78 billion in the first seven months of 2024. This marks a substantial 53.63% increase compared to the $1.81 billion recorded in the same period in 2023. The information was disclosed in the Central Bank of Nigeria’s (CBN) Weekly International…
The Naira has experienced a sharp decline in value, trading at an alarming rate of N1,635 to the U.S. dollar in the parallel market. This latest depreciation underscores the ongoing challenges facing Nigeria’s economy, particularly in the foreign exchange sector, where demand continues to outstrip supply. Market analysts attribute the Naira’s fall to several factors,…
Understanding the Surge in Green Bonds and What the Future Holds for Sustainable Finance Introduction: The growing popularity of green bonds marks a significant shift in the financial world as investors increasingly prioritize sustainability alongside profitability. As more companies and governments commit to environmental goals, green bonds have emerged as a powerful tool to fund…
Stay Safe While Searching for Remote Work Opportunities As remote work becomes increasingly popular, it’s crucial to learn how to avoid remote job scams that prey on job seekers, ensuring that you can confidently navigate the online job market and secure legitimate opportunities without falling victim to fraudulent schemes. In today’s digital age, remote work…
SEC Grants Initial Approvals to Crypto Operators SEC Grants Initial Approvals to Crypto Operators Nigeria has taken a major step toward embracing cryptocurrency, with the Securities and Exchange Commission (SEC) granting preliminary operational approvals to several crypto firms. This move is a clear indication that the country is opening up to digital currencies, setting a…
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