Patrice Motsepe, the President of the Confederation of African Football (CAF), stated on Friday in Abidjan that no fewer than two billion people globally are tuning in to watch the 2023 Africa Cup of Nations (AFCON) in Côte d’Ivoire. Motsepe shared this information during a news conference ahead of the AFCON final, emphasizing the accomplishment […]

Examining the Fallout from the Crisis in Nigeria’s Poultry Sector Data reveals a stark reality. Recently, the Poultry Association of Nigeria (PAN) voiced serious apprehension regarding the closure of over 50 percent of poultry farms in 2023. This signifies that for every two poultry farms in Nigeria during 2023, one ceased operations. This 50 percent […]

Stakeholders within the maritime sector have expressed strong disapproval of the newly adjusted customs duty exchange rates by the Nigeria Customs Service (NCS). Critics argue that the hike in import duty is detrimental, leading to increased inflation and a further decline in the purchasing power of Nigeria’s impoverished population. Prince Olayieola Shitti, the former president […]

The Central Bank of Nigeria (CBN) has increased the forex rate for goods clearance from N1444.56/$ to N1515.09 against the USD, marking a rise of N70.53 compared to the previous rate. A check of the federal government’s single-window trade portal of the customs service indicates that the former forex rate of N1444.56 to the USD […]

The Upstream Petroleum Regulatory Commission in Nigeria is contemplating the relocation of certain units to Lagos, as outlined in a document disclosed to journalists. Dated February 14, 2024, the memo states that this decision aims to improve service delivery, curtail operational expenses, and optimize assets situated in Lagos. The memo further emphasizes the commission’s objective […]

The Nigerian federal government has the potential to support entrepreneurs by stimulating the economy, facilitating accessible loans, and making substantial investments in education and technology – Adegbenga Ismail Adegbenga Ismail Dare serves as the Chief Executive Officer at Lakelink Medical and Laboratory Limited, a company specializing in medical laboratory equipment, hospital equipment, general laboratory setup […]

JP Morgan, a leading financial services provider, has indicated that insurance and pension companies are at the forefront of major organizations expected to be divested in 2024. JPMorgan Asset Management forecasts that investors might divest as much as $30 billion from their holdings in private credit funds this year. Andrew Carter, JPMorgan’s Head of Private […]

Nigeria’s pension industry witnessed a remarkable gain of N3.36 trillion in 2023, concluding the year at a record high of N18.36 trillion, up from N14.99 trillion in the previous year. This represents a year-on-year increase of 22.43%, marking the fastest growth ever recorded. The data is based on the unaudited report on pension fund portfolios […]

Dr. Wunmi Bewaji, a financial expert, emphasized that the impact of banking credit on the Nigerian economy should be assessed based on specific portfolio allocations and its societal influence, not merely focusing on the quantum or percentage increase. This insight came during an exclusive interview with our correspondent on Wednesday, in response to the recently […]

Elon Musk may not be experiencing a comfortable period, as his net worth declines further following the decrease in Tesla’s market capitalization by $30 billion at the close of trade on Monday. According to Forbes real-time billionaire estimates on Monday, Elon Musk’s net worth has witnessed a drop of $3.9 billion, placing his valuation at […]