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…
In a significant move to boost technological innovation across Nigeria, the Federal Government, through the Presidential Standing Committee on Innovation and Invention (PSCII), has awarded N47 million in grants to 32 inventors and innovators. This initiative spans the six geopolitical zones of the country, underscoring the government’s commitment to nurturing creativity and advancing technological progress….
Nigeria’s Central Bank Lifts Suspension on Bank Borrowing Amid New Measures to Control Liquidity In a significant policy shift, the Central Bank of Nigeria (CBN) has lifted the suspension on bank borrowings from its Standing Lending Facility (SLF), setting a new lending rate at 31.75 percent. This decision follows the 296th meeting of the Monetary…
Discover How Relocation Benefits Can Boost Your Career and Lifestyle If you’re considering a move abroad, there are several countries offering enticing relocation benefits for employees and businesses. These programs can be a golden opportunity for those looking to enhance their careers while experiencing new cultures. Whether you’re interested in financial incentives or attractive living…
The federal government is weighing the possibility of converting Arik Air and Aero Contractors into national carriers as a solution to their significant financial troubles. This development follows discussions led by the Asset Management Corporation of Nigeria (AMCON), with its Managing Director, Gbenga Alade, revealing that both airlines have amassed considerable debts that they may…
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