Business
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Nigeria to provide solar subsidy for underserved areas in the national grid
The Nigerian government plans to provide subsidies to developers and operators of solar mini-grids in unserved and underserved areas via…
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Nigeria’s poor growth will weaken West Africa’s economy –W’Bank
The World Bank has said that the lower-than-average growth in Nigeria will hold back the sub-region’s economic performance. The Washington-based…
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Banks, fintechs, others lose $12bn to cyber attacks in 20 years — IMF
The International Monetary Fund (IMF) has said that financial institutions across the world lost a sum of $12 billion to…
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New electricity tariff may drop if naira keeps rebounding – Adelabu
The Minister of Power, Adebayo Adelabu, says the N225 Kilowatt-Hour being paid by electricity consumers on Band A will reduce…
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NNPCL unveils plan to stabilise Naira
The Nigerian National Petroleum Company Limited (NNPCL) is set to increase its gas output, targeting both local and international markets.…
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Adelabu Apologises For Saying Nigerians Keep Freezers On Due To Low Tariff
The Minister of Power, Adebayo Adelabu, has apologised to Nigerians for saying that they keep freezers on for days due…
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Natural gas vital to driving economic growth – NNPCL
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mr Mele Kyari, has reiterated the crucial role…
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GTCO records N609.3bn rise in profit
Guaranty Trust Holding Company GTCO Plc, has recorded 184.5% increase in its Profit Before Tax, PBT to N609.3 billion in…
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10 commercial banks operating expenses rise to N3tn
The combined operating expenses of 10 Nigerian banks surged by 42.51 percent to N3.23 trillion in 2023, up from N2.26…
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AfDB secures $110,000 grant for Ekiti electricity plan
THE African Development Bank, AfDB, has secured funding support of $110,000 from the Sustainable Energy Fund for Africa, SEFA, for…
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Electricity tariff hike capable of hurting us, APC NWC member cries out
The Deputy National Organizing Secretary of the ruling All Progressives Congress (APC), Nze Chidi Duru, has called upon President Bola…
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UBA’s gross earnings hits N757.7bn
United Bank for Africa (UBA) Plc has recorded a 143 per cent rise in gross earnings to N2.08 trillion in…
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Electricity Tariff Hike: Atiku faults FG’s move
Former Vice president and PDP’s presidential candidate in the 2023 election, Atiku Abubakar has joined the growing list of critics…
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Stock investors lose N252bn on Thursday
Stock investors lost N252bn as the Nigerian Exchange sustained its bearish trading on Thursday. The market lost about N467bn between…
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AfDB, Indorama partner to boost fertiliser production
The African Development Bank has signed a $75m loan agreement with Nigeria’s Indorama Eleme Fertiliser and Chemicals Limited. The bank…
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How Bernard Arnault overtook Elon Musk to reach No. 1
For the second year running, luxury goods magnate Bernard Arnault is the richest person in the world, ranking number one…
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Meet the World’s Top 10 female billionaires in 2024
According to Forbes’ latest data, out of the 2,781 billionaires worldwide, 369 are women, constituting 13.3% of the total, up…
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Okra, uLesson granted tax exemptions for investment in 2023
The Nigerian government's tax exemption scheme has benefited nine companies in the information and communication industries.
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TUC reacts to electricity tariff hike, says unacceptable
The Trade Union Congress says no Nigerian receives 20 hours of power supply per day, noting that the new electricity…
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Telecoms union suspends planned strike
The Private Telecommunications and Communications Senior Staff Association of Nigeria has suspended its planned strike, which was to begin on…
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Marketers have started lifting diesel from Dangote Refinery
The Chief Executive Officer/CEO, Major Energy Marketers Association of Nigeria, MEMAN, Clement Isong, said marketers have started to lift diesel…
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Dangote, Adenuga, Rabiu, Otedola make Forbes’ 2024 billionaires list
Forbes has listed Nigerian businessmen, Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola, as the top richest Nigerians in…
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Cadbury records N19bn loss, shareholders receive no dividends
The shareholders of consumer goods firm, Cadbury Nigeria Plc will get no dividend payment for the financial year 2023 as…
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NRC revenue dropped by N120m in 2023 – NBS
The Nigeria Railway Corporation lost N119.85m in 2023 compared to revenue figures recorded in 2022. According to the data obtained…
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Equity investors gained N18tn in Q1
The bullish trading pattern of 2023 extended into the first quarter of 2024, resulting in a N18.203tn gain for investors…
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Heirs Technologies dips hands into $250bn global outsourcing market
A subsidiary of the Tony Elumelu majority-owned holding company, Heirs Technologies, wants to become like Tek Experts, a company which…
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Access Bank lost over ₦6 billion to fraud last year
Access Bank, Nigeria's largest commercial bank by assets, reported losses of ₦6.15 billion from fraud and forgery, in 2023, up…
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Yango introduces Cargo Express to boost deliveries across Africa
Yango Delivery, a logistics startup focused on in-city service delivery, has introduced Cargo Express, a new feature to improve the…
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DISCOs generated N294.9bn in Q4 2023 – NBS
The National Bureau of Statistics (NBS) disclosed that Electricity Distribution Companies, DISCOs, in Nigeria generated a total of N294.95 billion in…
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Electricity consumers rose to 12.12m in Q4 2023 – NBS
The number of electricity consumers rose by 410,000 from 11.71 million in the third quarter of 2023 to 12.12 million…
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Railway Corporation generated N1.07bn in Q4 2023- NBS
The Nigerian Railway Corporation generated N1.07 bn as revenue from passengers in Q4 of 2023, the National Bureau of Statistics…
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LASG, FAAN sign MoU on 28km road project
The Lagos State Government, through the Office of Public-Private Partnerships and the State Ministry of Works and Infrastructure, has signed…
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TCN raises alarm over planned attack on electricity facility
The Transmission Company of Nigeria (TCN) has raised the alarm about a planned attack on its facility in the Zuba…
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FG considers transporting crude oil by trucks amid pipeline vandalism
The Federal Government has implemented a virtual method of evacuating crude oil, utilizing barges and trucks for transporting crude from…
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Economy: CBN boasts of working Monetary Policy effort, records over $1.5bn inflow
The Central Bank of Nigeria has said that it has recorded an inflow of over $1.5 bn into the economy…
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National Grid Successfully Restored After Collapse – TCN
The Transmission Company of Nigeria (TCN) says it has successfully restored the national grid following a system disturbance at 4:28…
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Geregu Power shareholders approve N20bn dividend
The board of directors of Geregu Power Plc’s proposed N20bn dividend has been approved by shareholders. The approval was given…
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CBN raises capital base for mega banks to N500bn
The Central Bank of Nigeria has announced new guidelines on its recapitalisation policy for banks in the country. This coming…
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EFCC takes over Binance probe, plans fleeing executive’s extradition
The Economy and Financial Crimes Commission has charged Binance Holdings Limited and two of its senior executives, Tigran Gambaryan, and…
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Absa Bank Kenya, Visa partner to ease payments for travel agents
Absa Bank Kenya and Visa have partnered to launch the Visa Commercial Choice Programme (VCCP), a new “Corporate Card” solution…
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