Business

  Flour Mills of Nigeria Plc has announced plans to invest up to $1bn over the next four years to expand its operations. According to a statement, the company’s chairman, John Coumantaros, disclosed this during a recent interview. He emphasised ...

  The gross earnings of United Bank for Africa Plc appreciated by 83.2 per cent year-on-year to N2.39tn at the end of the third quarter from N1.31tn in the same period of 2023. This was disclosed in its unaudited results ...

  Ecobank Nigeria is set to host its inaugural Design & Build Expo, aimed at highlighting the latest trends, innovations, and sustainable practices in architecture, construction, building materials, household appliances, engineering, and interior design. A statement from the bank said ...

  A man was left devastated after losing his N50,000 investment in a bet that could have earned him N1 billion. The man, identified as @surmasantavious on X, shared his emotional ordeal, gaining widespread attention and sympathy online. Before placing ...

  Federal Government has proposed a new tax bill aimed at transforming the country’s tax framework. Dated October 4, 2024, the legislation introduces a 5% excise duty on various sectors. The new excise duty applies to telecommunications services, including postpaid ...

  Nigerians have expressed concerns over the safety of the Compressed Natural Gas converted vehicles following recent explosions involving some vehicles. They raised questions about the safety standards and regulatory oversight of the conversions. In May, the Minister of State ...

  The Nigerian government has officially ended fuel and foreign exchange subsidies, a policy that has been debated for years. Minister of Finance Wale Edun announced the decision at the World Bank’s Nigeria Development Update presentation in Abuja. According to ...

  The Nigerian National Petroleum Company Limited is still the sole off-taker of Premium Motor Spirit, popularly called petrol, from the Dangote Petroleum Refinery despite the recent directive of the Federal Government that other oil marketers were free to start ...

  INTRODUCING ALAT XPLORE APP: NIGERIA’S FIRST LICENSED BANKING APP FOR TEENAGERS In today’s world, financial literacy has become an essential life skill, particularly for the younger generation. Recognising this need, Wema Bank—Nigeria’s most innovative bank and pioneer of Africa’s ...

  Wealthy Nigerians earning ₦100m and above monthly will face a 25 per cent personal income tax rate if a new tax bill is passed by the National Assembly. This was stated by the Chairman of the Presidential Fiscal Policy and ...

  Nigeria’s national electricity grid has suffered its second collapse in just 24 hours, plunging millions into darkness. Electricity distribution companies (DisCos), including Eko and Kaduna, confirmed the collapse, which occurred at 9:17 am on Tuesday. “We are currently working ...

  The Naira yesterday appreciated to N1,680 per dollar in the parallel market compared to N1,690 per dollar last weekend. Similarly, the Naira appreciated to N1,552.92 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed ...

  The Minister of Aviation and Aerospace Development, Festus Keyamo has stated that five Nigerian airports are set for concession. The Minister made this known while receiving the Regional Vice President of Africa and Middle East of the International Air Transport ...

  The Federal Government has rescinded its decision to ground 60 private jets owned by various individuals in Nigeria over unpaid import duty running into several billions of naira The government through a directive from the Nigeria Customs Service to ...

  Businessman, Chief Priest has showcased his latest investment: a luxurious hotel in Owerri. The hotel, which is nearing completion, features breathtaking interiors. Cubana Chief Priest shared a video tour of the hotel on his social media page, giving followers ...

  The World Bank has stated that Nigeria must maintain its ongoing economic reforms for the next 10 to 15 years to establish itself as a leading economic power, not only in sub-Saharan Africa but also on the global stage. ...

  The national electricity grid has collapsed again, The PUNCH reports. The grid collapsed at about 6:18 pm on Monday, leaving Nigerians in darkness. Checks by our correspondent confirmed that power generation dropped from 3.87 gigawatts at 5 pm to ...

  Kim Kardashian’s daughter, North West, landed the cover of Interview Magazine for its Fall 2024 issue at just age 11. The SKIMS founder, 43 – who recently put on a stylish display while stopping by ChainFEST LA – joined the ...

  As Nigerians struggle with the high cost of petrol, the price of Liquefied Petroleum Gas, also known as cooking gas, has also increased to N1,500/kg. But the Managing Director/Chief Executive Officer of NIPCO Plc, Suresh Kumar, said the Dangote ...

  The Enugu State Government has clarified the purpose of its mortuary tax, dispelling rumors that it’s intended to generate revenue. Instead, the tax aims to discourage prolonged stays in mortuaries. According to Emmanuel Nnamani, Chairman of the Enugu State ...

  An entrepreneur has amazed the online community by sharing a video that highlights her remarkable growth from running a small clothing shop in 2013 to managing a large retail store in 2024. The TikTok video, captioned “Life is indeed a ...

  The Poultry Association of Nigeria has warned that if urgent steps are not taken to support poultry farmers, prices of eggs may increase from the current N5,500 to N10,000 per crate. The association attributed the rising cost of the ...

  Nollywood actress Biodun Okeowo has announced her new partnership with Goldmine Realty, a real estate firm, where she will serve as their Social Media Brand Manager. In a joyful Instagram post, she expressed her gratitude for the opportunity to ...

  Air Peace has responded to reports of fraud charges filed by the U.S. Department of Justice against its CEO, Dr. Allen Onyema, and Chief of Finance/Administration, Mrs. Ejiro Eghagha. In a statement on Sunday, the airline reaffirmed its commitment ...

  A new bill has been proposed in Nigeria that will require individuals engaged in banking, insurance, stock-broking, or other financial services to provide a Tax Identification Number as a precondition for opening a new account or operating an existing ...