MTN Nigeria released its Q1 2024 results, showing revenue of N752.9 billion, up 32.5% compared to N568.1 billion for the same period in 2023. However, the company reported a pre-tax loss of N575.69 billion, a sharp reversal from the N162.9 billion profit reported a year earlier. MTN’s swing into loss […]

The Nigerian National Petroleum Company Limited on Monday began offloading 240 million litres of Premium Motor Spirit, otherwise called petrol, as it stepped up efforts to tackle the worsening nationwide petrol scarcity. As the NNPCL began offloading petrol, filling stations sold the product at an average price of N800 per litre […]

The Minister of Power, Adebayo Adelabu on Monday warned that there would be total blackout in the country in the next three months if the proposed electricity tariff hike is not implemented. The minister disclosed this yesterday in Abuja when he appeared before the Senate Committee on Power at an […]

The Biscuit and Bakery Products sub-sector of the Manufacturers Association of Nigeria has said that half the players in the business have crashed out in the last three decades. The revelation was made by the chairman of the sub-sector, Fola Osibo, during the group’s annual general meeting held recently in […]

This represents a 14 percent increase in rate compared to the old rate of N1,164.84/$ previously used for the opening Form M and an increase of N162.51 on a dollar needed to clear goods at the port. This means that importers opening Form M today will require more money to […]

The average ‘Band A’ customer in Nigeria will now need as much as N170,000 for electricity per month, instead of the average of N50,000 that they were paying before now. This follows the approval of a 240 per cent increase in the tariff of ‘Band A’ power customers from N66 […]

Sen. Ned Nwoko, has advised the Federal Government and the Central Bank of Nigeria (CBN) against any measures that capable if artificially forcing the Naira to gain value against other currencies. Nwoko, who represents Delta North, advised in a statement he signed and made available to the News Agency of […]

The federal government has announced plans to set up a $10 billion diaspora fund to attract investment from citizens living abroad. In a post on social media on Thursday, Doris Uzoka-Anite, minister of industry, trade and investment, said the federal government is seeking bids from asset managers to set up the fund. The […]

The Senate through its Committee on Finance, has called for concerted efforts by all relevant stakeholders to rescue and sustain the stability of the naira. The naira persisted in its decline against the US dollar within the official exchange framework, concluding at N1,309.88 on Thursday, April 25. However, the naira, last […]