Category archives: Business

A new study by Bridgewater Associates, Global Citizen, and Harith General Partners reveals that Sub-Saharan Africa is poised to account for 25% of the global workforce in the coming decades. The report highlights the region’s demographic transformation, with its share of the global working-age population expected to rise from 10% to 25%. The report emphasizes […]

At the 2024 Zenith Bank International Trade Seminar, experts emphasized the importance of value-added exports to drive Nigeria’s economic growth. They urged the processing of non-oil export products into semi-finished and finished goods as a key strategy for unlocking significant economic benefits. During the seminar, themed “Nigerian Non-Oil Export Industry: Awakening the Giant,” Dr. Adaora […]

The Federal Government has declared a three-month state of emergency at Onne Port in Rivers State due to recurring incidents of illegal importation of arms and dangerous cargo. The Comptroller-General of Customs, Bashir Adeniyi, announced the emergency protocols during a press briefing, citing national security concerns and increased threats to public health. Adeniyi highlighted the […]

The Nigeria Customs Service, Federal Operations Unit (FOU) Zone A, Ikeja, revealed that it seized 70 contraband items valued at N8.9 billion in July 2024. Kola Oladeji, the Customs Area Controller, disclosed this during a display of the seized goods in Lagos. The seized items included 6,168 pieces of donkey skins, 37,630 sachets of tramadol, […]

As the September 15 deadline for the National Identification Number (NIN) and Subscriber Identification Module (SIM) linkage nears, many Nigerian subscribers are experiencing technical challenges while attempting to upload their details on the National Identity Management Commission (NIMC) portal. The President of the National Association of Telecommunications Subscribers (NATCOMS), Adeolu Ogungbanjo, has raised concerns over […]

Mutual Benefits Assurance Plc has voiced concern over Nigeria’s low insurance penetration and is advocating for policy changes to enhance insurance uptake across the country. Mr. Femi Asenuga, Managing Director/CEO of Mutual Benefits, expressed these sentiments during a workshop aimed at insurance journalists. Asenuga emphasized the crucial role of media in driving policy reforms and […]

Power generation in Nigeria fell dramatically by 45.4% to 2,777.04 Megawatts (MW) on Wednesday, following a peak of 5,040.72 MW recorded just a day earlier. According to data from the Nigeria Electricity System Operator (NESO), part of the Transmission Company of Nigeria (TCN), generation peaked at 4,370.14 MW around midday before dropping further later in […]

Vice President Kashim Shettima officially inaugurated a $115 million upgrade at the West Africa Container Terminal (WACT) in Onne, Rivers State, on Wednesday. This significant investment highlights APM Terminals’ dedication to bolstering Nigeria’s economic growth and its role as a major trade hub in West Africa. The upgrade includes extensive yard expansion, acquisition of state-of-the-art […]

Rume Ophi, an alternative finance and cryptocurrency expert, has advised Nigerians to be cautious of celebrity endorsements and promises of quick wealth in the crypto space. In a statement to Vanguard, Ophi, also known as the Cryptopreacher, highlighted the dangers, especially after the recent collapse of $Jota Coin. He explained, “The value of $Jota Coin […]

The exchange rate for the dollar to naira at the black market (parallel market) today, September 5, 2024, stands as follows: Please note that these rates may differ slightly depending on the location and the Bureau De Change (BDC) operators. The Central Bank of Nigeria (CBN) does not officially recognize black market rates and urges […]