Business

The National Bureau of Statistics (NBS) says the number of Electricity Distribution Companies (DisCos) customers in Nigeria increased from 11.06 million in Q4 2022 to 11.27 million in Q1 2023. According to the NBS Nigeria Electricity Report for Q1 2023 released in Abuja on Wednesday, the figure showed an increase...

The African Export-Import Bank (Afreximbank) in collaboration with the African Continental Free Trade Agreement (AfCFTA) inaugurated the Africa Trade Gateway (ATG). A statement issued by BrandComms Agency in Abuja on Wednesday said the ATG was inaugurated on the sidelines of the ongoing 30th Afreximbank Annual Meetings in Accra. The statement...

The Naira on Wednesday depreciated against the dollar at the investors and exporters window, exchanging at N763.17. The Naira depreciated by 0.87 per cent when compared with N756.61 for which it exchanged for the dollar on Tuesday. The open indicative rate closed at N741.21 to the dollar on Wednesday. An...

L-R: Managing Director TAJBank, Hamid Joda, Influencer, Hauwa Jalilah, TAJBank Ambassador, Hajia Saratu Gidado, and  Executive Director, Sherif Idi during the Launching of the Bank’s ‘TAJWAY’ app in Abuja TAJBank, Nigeria’s leading non-interest bank, has inaugurated a new digital banking app – TAJWAY. According to a statement by TAJBank Managing...

The Federal Government, on Monday, confirmed that it had commenced the implementation of the payment of 7.5 per cent Value Added Tax on Automotive Gas Oil, popularly called diesel. Officials of the Nigeria Customs Service and Federal Inland Revenue Service confirmed this in Abuja, stressing that AGO was not exempted...

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...