The Federal Government has clarified that its naira-for-crude initiative with local refineries is not a temporary solution but a crucial policy aimed at promoting sustainable local refining. Officials stated that the initiative is still operational and will resume immediately, countering the previous decision made by the NNPCL under former CEO Mele Kyari, which had suspended…
By Ajibola Olarinoye Introduction Modern business operates at a rapid rate where technology stands as a fundamental requirement for enterprise success. The operational framework of businesses transformed through Artificial Intelligence (AI) technology which delivers innovative solutions for better operational productivity. The implementation of AI technology by Nigerian business operators between eighteen and thirty years old…
In its ongoing effort to enhance financial growth opportunities, leading digital bank PalmPay has introduced the Wealth Wish Day campaign, empowering users to increase their savings. Running from April 2 to April 20, 2025, this campaign offers participants the chance to win exciting rewards, including daily cash prizes, premium gadgets, and a grand prize: a…
Oil prices dropped by more than 3 percent on Monday, continuing the downward trend from the previous week. Concerns are mounting that a global trade war could further hinder economic growth and diminish oil demand. According to a report by Reuters, Brent crude futures fell by $2.10, or 3.2 percent, reaching $63.48 a barrel at…
The naira continued its decline against the dollar in the official foreign exchange market, concluding the week on a negative note. According to data from the Central Bank of Nigeria, the naira weakened further to N1,567.02 per dollar on Friday, a drop from Thursday’s trading. This represents a daily decrease of N14.49, down from the…
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…
