The report states that the FX market opened with the Nigerian naira holding steady against the US dollar at 1,120 on the parallel market, with expectations of further appreciation this week. This marks a N5 appreciation compared to the previous Friday’s closing rate of N1,125 per dollar. The naira reached a four-month high of 1,142.38…
Nigeria’s Food Inflation Hits 40.01% in March 2024, Year-on-Year Increase of 15.56% Nigeria’s food inflation maintained its upward trajectory, surging to 40.01% in March 2024 compared to the same period last year, marking a significant rise from 24.45% in March 2023 and 37.90% in February 2024. The headline inflation rate also saw a notable increase…
Shipowners Explore Foreign Partnerships for Fleet Expansion April 15, 2024 In an effort to bolster ship acquisition within Nigeria, the Nigeria Indigenous Shipowners Association (NISA) has inked a memorandum of understanding with international counterparts to facilitate the procurement of new vessels. NISA President Sola Adewunmi revealed this during a discussion with The entrepreneurtv. on Sunday,…
Report: Urgent Call for Federal Mortgage Bank of Nigeria Recapitalization Operators within the construction sector have emphasized the critical need for the recapitalization of the Federal Mortgage Bank of Nigeria (FMBN). Toye Eniola, the Executive Secretary of the Association of Housing Corporations of Nigeria, highlighted in an exclusive interview with The Entrepreneur TV, the inevitability…
LSWRC Head Invited to Prestigious Global Water Summit in London Funke Adepoju, the Executive Secretary of the Lagos State Water Regulatory Commission, has received a special invitation to attend the esteemed Global Water Summit in London. In an official statement released on Sunday, the agency proudly announced, “The Lagos State Water Regulatory Commission is thrilled…
Royal Exchange Plc, a conglomerate specializing in life assurance, health insurance, and credit financing, fell short of achieving full subscription for its rights issue, concluding at 75.83 percent. The Nigerian Exchange Limited’s weekly report disclosed this development, noting the completion of Royal Exchange’s rights issue and its subsequent listing on the market. The report stated,…
In this interview, Segun Ajayi-Kadir, the Director-General of the Manufacturers Association of Nigeria (MAN), discusses the repercussions of unresolved dollar debts on manufacturing firms with Edidiong Ikpoto. Contrary to the Central Bank of Nigeria’s (CBN) assertion of clearing all valid outstanding forex backlog, MAN reported that many of its members still await unsettled dollar requests….
Tinubu’s Economic Optimism Masks CBN’s Tough Tactics Nigeria’s President, Bola Tinubu, exudes confidence in the nation’s economic trajectory, urging citizens to anticipate better days ahead. However, behind this optimism lies a complex interplay between fiscal decisions and the Central Bank of Nigeria’s (CBN) stringent monetary policies. Tinubu’s assertions of economic improvement during his Easter message…
Landmark CEO Addresses Concerns Over Coastal Highway’s Impact on Landmark Beach Resort Paul Onwuanibe, CEO of Landmark Africa Group, reassured the public that the construction of the Lagos-Calabar Coastal Highway is unlikely to disrupt operations at Landmark Beach Resort. Speaking via his official X (formerly Twitter) account, Onwuanibe responded to growing concerns and media attention…
– Band A Consumers Demand Downgrade Due to Under-Supply, Tariff Hike – Consumer Network Reports Ongoing Insufficiency in Electricity Supply PowerUp Nigeria Urges Government Awareness Campaigns for Consumers Following dissatisfaction among Band A consumers over the persistent under-supply of electricity by Distribution Companies (DisCos), several communities have sought to downgrade their band classification to Band…
