By Ajibola Olarinoye The Renewed Hope Ambassadors (RHA), a socio-political pressure group, stated on Thursday that ongoing reforms in Nigeria’s oil and gas sector will establish the country as the top investment destination in Africa. In response to recent developments in the sector, including the leadership transition at the Nigeria National Petroleum Company Limited (NNPCL),…
President Donald Trump has announced that a 14% tariff will be applied to exports from Nigeria to the United States. This decision, revealed during a “Make America Wealthy Again” event in the Rose Garden on Wednesday, is part of a broader strategy to rebalance global trade and address perceived unfair trade practices. The introduction of…
Fidelity Bank Plc, a leading financial institution, has announced its audited financial results for the full year 2024, showcasing a remarkable 210% increase in Profit Before Tax (PBT), which now stands at N385.2 billion. The results, disclosed on the Nigerian Exchange (NGX) on March 28, 2025, reveal that Gross Earnings surged by 87.7% to N1,043.4…
On Friday, investors in the Nigerian stock market celebrated a gain of N148 billion, marking a positive end to the week. By the close of trading on Friday, market capitalization increased by N148 billion, or 0.22 percent, reaching N66.257 trillion, up from N66.109 trillion on Thursday. The All-Share Index (ASI) also rose by 234.52 points,…
The World Bank has indicated that Nigeria needs an annual investment of between $10 million and $15 million in its statistical system to surpass the capabilities of South Africa, Brazil, Mexico, and Colombia. The bank expressed concern that Nigeria’s statistical system currently lags behind that of South Africa and other comparable nations. During a courtesy…
A Federal High Court in Nigeria has directed Keystone Bank to take control of Bacita Sugar Company due to the company’s failure to settle an outstanding debt of N25.5 billion. In addition, the court has ordered the freezing of 21 accounts associated with KIA Africa. This decision follows a previous ruling from the Federal High…
A entrepreneurship organisation, Zellri Artistry Beaders is thrilled to offer a complimentary six-month vocational training program in bead embroidery, aimed at equipping individuals with essential skills for a successful career. This all-encompassing training will address every facet of bead embroidery, from basic techniques to advanced design execution, providing participants with the knowledge needed to thrive…
Flutterwave, Africa’s premier payments technology firm, is now facilitating digital tax collection for the Federal Inland Revenue Service (FIRS), positioning itself as one of the few fintech companies aiding the government in the modernization of tax payment systems. This partnership enables the FIRS to utilize Flutterwave’s efficient and secure payment infrastructure to collect taxes, levies,…
On Tuesday, the Nigerian Senate conducted the first reading of a bill aimed at amending the Nigerian Data Protection Act of 2023. This amendment intends to require major social media platforms—including Facebook, X (formerly Twitter), Instagram, WhatsApp, YouTube, TikTok, and independent bloggers—to establish physical offices within Nigeria. The proposed legislation is titled “A Bill for…
This week, the naira experienced its first increase against the dollar in the parallel foreign exchange market on Tuesday. Idris Yunusa, a Bureau de Change operator in Wuse Zone 4, Abuja, informed DAILY POST that the naira rose to N1,580 per dollar on Tuesday, up from N1,585 on Monday. This marks a gain of N5…
