Business

The United Kingdom (UK) Monday simplified trading rules and cut tariffs on products from developing countries, including Nigeria, saving businesses and consumers millions of pounds a year. The UK’s new post-Brexit Developing Countries Trading Scheme (DCTS) scheme, which implementation began yesterday, according to a statement by the British Deputy High...

The Federal Government, on Monday, said six new companies have received approval to import petroleum products into Nigeria. The Managing Director of Nigeria Mainstream and Downstream Petroleum Regulatory Authority (NMDRA), Farouk Ahmed made this disclosure to state correspondents at the Presidential Villa. Farouk stated that apart from the approved six,...

The Chairman of the Dangote Group, Aliko Dangote, and American business mogul, Bill Gates, visited President Bola Tinubu at the Aso Rock Presidential Villa in Abuja on Monday. The visitation is part of the Gates Foundation’s commitment to working closely with communities and leaders to support innovation. Credit: Twitter |...

The Chief Executive Officer of Binance, Changpeng Zhao, has declared Nigeris’s subsidiary of the global cryptocurrency exchange platform as a scam. Zhao made this known via his Twitter handle on Sunday, saying, “Binance Nigeria Limited a scam entity.” “Binance has issued cease & desist notice to the scammer entity “Binance...

In light of the current economic realities, the policy advisory council of President Bola Tinubu has asked the federal government to extend the validity of the old naira notes to December 31, 2024. The recommendation was made in a report, titled, ‘Policy Advisory Council Report: National Economy Sub-committee’. The council...

Aliko Dangote and Abdulsamad Rabiu, Nigerian billionaires listed among the 500 richest men in the world, have lost $5.85 billion, according to the Bloomberg Billionaire Index (BBI). The BBI is a daily ranking of the world’s richest people. It provides details on the calculations of net worth analysis on each...

The national economic council (NEC) has set up a committee to review recommendations by the National Salaries and Wages Commission to cushion the impact of the removal of the petrol subsidy. On Thursday, the NEC at its first meeting presided over by Vice President Kashim Shettima, said the committee should...

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says with the removal of subsidy on Premium Motor Spirit (PMS) other interested parties are free to import products once they meet the requirements. The NMDPRA said the PMS importers must meet regulations as stipulated by the Petroleum Industry Act (PIA...

Naira on Wednesday depreciated against the dollar at the Investors and Exporters window, exchanging N664.04 to the dollar. The News Agency of Nigeria (NAN) reports that the local currency droped by  40.78 per cent when compared with N471.67 it exchanged for the dollar on Tuesday. The depreciation followed the directive...

Stand Up Nigeria, a front line civil society organization has expressed confidence that with Mele Kyari as head of the NNPCL, Nigeria will reap the intended gains of subsidy removal. The group in a statement signed by the President, Comrade Sunday Attah commended the progress the NNPCL has recorded under...