Category: Business

The Federal Government has reviewed the performance of the Federal Ministry of Health and Social Welfare from the first to third quarters of 2024, highlighting progress on the Renewed Hope agenda. Dr. Muhammad Ali Pate, Minister of Health and Social Welfare, this development on his X handle on Monday. “With all due sense of responsibility,…

The Nigerian All-Share Index (ASI) closed on a negative note on December 9, 2024, declining by 103.23 points to settle at 98,107.52, reflecting a modest 0.11% decrease. Amid the decline, trading activity experienced a significant fall, with 436 billion shares exchanged—a sharp 137% drop from the previous trading session. Meanwhile, market capitalization remained strong at…

The Project Director and Chief Executive Officer (CEO) of the Presidential Compressed Natural Gas Initiative (PCNGi), Michael Oluwagbemi, has disclosed that the Federal Government (FG) has invested over $450 million in the development of Nigeria’s Compressed Natural Gas (CNG) value chain. Oluwagbemi, who was represented by Mr. Tosin Coker, the Head of Commercial at PCNGi,…

The United Kingdom has revealed that Nigerians account for 10% of all new visas issued in the past two years. This was disclosed by the British High Commissioner to Nigeria, Richard Montgomery, during an interview on Channels TV’s Sunrise Daily on Monday. The interview shed light on the UK’s visa processes and its longstanding relationship…

The President of the Court of Appeal, Justice Monica B. Dongban-Mensem, has advised that the adoption of Artificial Intelligence (AI) must never replace the work of a judge. She also called for the careful utilization of AI in the Nigerian judiciary. She gave this advice on Monday during the opening event of the Court of…

Shares of Betaglas, a leading glassware company, have climbed over 15% month-to-date, bringing its total growth for November and December to 27%, with the stock currently priced at N57. The company’s performance came after the release of its third-quarter financial report on October 30, which revealed a pre-tax profit of N6.1 billion, marking a significant…

The crypto market added over $1 trillion to its total market capitalization in the month of November as a result of a massive Bull run which saw various assets breaking past their all-time high. Bitcoin the flagship crypto asset surged past its all-time high of $73,737 few days after the United States election. Other Altcoins…

The African Development Bank (AfDB) has offered strategic recommendations for Nigeria and other African nations to address escalating debt burdens and foreign exchange challenges. These insights were shared by the Bank’s Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, during an interview with the News Agency of Nigeria (NAN). Addressing Nigeria’s debt profile,…

Benue State Governor, Hyacinth Alia, has revealed that his administration spent $2.82 million (approximately N4.53 billion) between June 2023 and June 2024 to service external loans. Governor Hyacinth Alia made this disclosure in a statement signed by his Chief Press Secretary, Sir Tersoo Kula, as reported by the News Agency of Nigeria (NAN). Governor Alia…

The Nigeria Centre for Disease Control and Prevention (NCDC) has urged public vigilance as it monitors the XEC COVID-19 variant, which has been detected in 43 countries worldwide. While there is no evidence of increased severity, the NCDC has called on Nigerians to remain vigilant and continue practicing essential public health measures. The agency issued…

The former Global Head of Marketing and Corporate Communications at one of Nigeria’s largest banks, FirstBank Ltd, has resigned. Folake Ani-Mumuney, one of the most experienced and respected marketing executives in Nigeria, has been instrumental in shaping the bank’s communication and marketing strategies. However, reports from TheCable suggest that her resignation was prompted by the…

The Minister of Aviation and Aerospace Development, Festus Keyamo, has asserted that the Department of State Services (DSS) should not be conducting bag searches at Nigerian airports. He described the practice as unnecessary and beyond the agency’s core responsibilities. Speaking on The Morning Show programme on Arise News TV on Sunday, Keyamo explained new measures…

The Chairman of Microstrategy and the foremost Bitcoin voice has urged the United States to consider selling its gold and acquiring Bitcoin. Michael Saylor pointed out that gold accounts for more than half of the country’s financial reserve and the United States government should not buy any more Gold but Bitcoin. The US is known…

The National Agency for Food and Drug Administration and Control (NAFDAC) has cautioned that open-drug markets in cities like Kano, Aba, Onitsha, and Lagos have been identified as hotspots aiding the sale of substandard drugs. Prof. Mojisola Adeyeye, Director-General of NAFDAC, issued the warning during an interview at the News Agency of Nigeria (NAN) forum…

Billionaire Shawn “Jay-Z” Carter worth $2.5 billion(Forbes) and Sean “Diddy” Combs have been accused of sexually assaulting a 13-year-old girl during an after-party following the 2000 MTV Video Music Awards, according to an amended civil lawsuit filed on Sunday. The filing also claims an unnamed celebrity witnessed the alleged assaults but did not intervene. The…

The Nigerian naira posted strong gains against the European currency at the parallel market on the weekly spectrum amid ongoing reforms in Nigeria’s foreign exchange market and political uncertainty in Europe. The Euro is losing significant support (N1690/€) against the Nigerian currency, which has caused the EUR/NGN price to lean more bearish. The EUR/NGN opened…

The Nigerian Meteorological Agency (NiMet) has urged the public to take precautions as dust haze is expected to affect parts of the country. NiMet also advised airline operators to check airport-specific weather reports to ensure safe operations during the hazy conditions. The agency has predicted hazy and cloudy weather conditions from Monday to Wednesday, warning…

The global advertising industry is set for significant growth, with revenue projected to reach $989.8 billion in 2024 and surpass $1 trillion in 2025, a year earlier than previously forecast. This is according to the 2024 Global Midyear Advertising Forecast. The report highlights critical drivers of this growth, including the rise of digital advertising, recovery…

The CEO of Quidax, an African-focused digital assets exchange, Buchi Okoro, has said that the new cryptocurrency regulatory framework released by Nigeria’s Securities and Exchange Commission (SEC) would increase foreign direct investment (FDI), boost job creation, and digital inclusion in the country. Speaking in an interview with Nairametrics, Okoro said that the introduction of the…

International students planning to study in Australia in 2025 are advised by the country’s immigration department to submit their student visa applications as soon as possible to avoid delays. The department emphasized the importance of complete and accurate applications to ensure a smooth visa process and avoid any complications. According to DAAD Scholarship, the Australian…