As the cement price continues to defy manufacturers-government agreement and presidential directive to the producers to bring down their price, experts and real estate operators are suggesting recipes that could drag down the price from the high horse where it is to an affordable level. As against the manufacturers and […]

The Central Bank of Nigeria (CBN) last week announced an upward review of the minimum capital requirement for commercial, merchant, and non-interest banks in Nigeria. According to Ayodeji Ebo, managing director/CBO, Optimus by Afrinvest,the banking sector recapitalisation programme is a regulatory initiative of the CBN that requires banks to increase their […]

In a significant policy shift, the Japanese government unveiled plans to welcome up to 820,000 foreign workers in the transportation and logistics sectors over the next five years. This ambitious target marks a more than two-fold increase from previous estimates and aims to tackle a critical labor shortage plaguing these […]

Nine firms in the information and communication space are beneficiaries of tax exemption from the Federal Government. These companies, which have collectively invested N159.61 billion, are beneficiaries of the Pioneer Status under the Industrial Development Income Tax Act. This was contained in the fourth-quarter Pioneer Status Incentive (PSI) report of […]

Despite the persistent epileptic power supply nationwide, revenue generation by electricity distribution companies in Nigeria surged to N1.1trn within the 12 months of 2023, a new report has revealed. The figure represents an increase of N234.4bn or 28.2 per cent from the N831bn generated by the power firms over a […]

The Federal Government, yesterday, increased the wholesale price of gas to power plants by 11 percent from $2.18 per MMBTU to $2.42/mmbtu (Million British Thermal Unit), leaving power generation companies with additional cost. The gas companies had since January this year reduced supply to power plants following years unpaid invoices that […]

There is panic in the Nigerian financial sector over massive job losses as banks battle to meet the recently announced minimum capital requirements by the Central Bank of Nigeria. The National President of the Association of Senior Staff of Banks, Insurance and Financial Institutions, Olusoji Oluwole, expressed these concerns during an […]

The Managing Director of Financial Derivatives Company Limited, Bismark Rewane, says with the commencement of diesel production at the Dangote Refinery, the price of diesel per litre will fall below N1,000 from the current price of N1,500. Rewane was a guest on Channels Television’s News At 10 during the week where […]

In the last two weeks, the Central Bank of Nigeria and other banking institutions have improved dollar supply to the foreign exchange market by $2.5bn, making the naira strengthen to N1,309 against the United States dollar. Official figures obtained from the FMDQ Securities Exchange revealed that the naira closed at […]