The Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari, has projected that Nigeria’s crude oil production output would soon hit the 1.8 million barrels per day (mb/d), quota set by the Organisation of Petroleum Exporting Countries (OPEC) for the country. Kyari made this forecast at a conference chaired by […]
The Naira opened the week sharply depreciating in its exchange rate against the US dollar at the parallel market in the early hours of Monday, trading at an average of N775/$1, representing a 2.15% depreciation from N756/$1 it exchanged at last Friday. Some black market traders in the Federal Capital Territory (FCT) told our correspondent during […]
A mobile ridesharing mobile app that enables users to request taxi and bus rides tagged, Nairaxi, has emerged over all winner at the young innovators’ competition organized by the Nigerian Communications Commission (NCC), which held in Lagos recently. The company, which won the coveted prize with value of N2 million, made up of Kingsley Eze, […]
The Centre for the Promotion of Private Enterprise (CPPE) has charged the Central Bank of Nigeria (CBN) to immediately simplify the ongoing currency swap implementation processes and also direct banks and other financial institutions (OFIs) to begin to collect the old banknotes still in the hands of millions of Nigerians. The Chief Executive Officer of […]
The Minister of Communications and Digital Economy, Prof. Isa Pantami, at the weekend expressed optimism that Starlink’s commencement of operations in the country and the implementation of the Nigeria Startup Act (NSA) would bolster the nation’s startup ecosystem. The Minister made this projection on Friday when he hosted two Nigerian startups, namely RiceAfrika Technologies and […]
Nigeria’s fastest growing non-interest banking products and services provider, TAJBank Limited, has opened a new branch in Kano in furtherance of the management’s sustained drive to deepen the brand’s penetration across the geo-political zones of the country. The opening of the flagship Zoo Road, Kano branch came barely a week after the opening of the […]
The Nigerian Communications Commission (NCC) has reported that number of inactive or unused or abandoned lines across the mobile network operators’ (MNOs) networks declined by 13% in 2022, reflecting that more subscribers activated their lines in the year. According to the industry’s regulatory standard, a mobile line is considered to be inactive if it is […]
Nigeria’s currency, the Naira, appreciated against the US dollar at the parallel market on Thursday, trading at an average of N755/$1, the same rate it exchanged for the greenback during the previous day’s trading session. Some of the FX traders in the parallel market, who revealed that they bought the USD from customers at an […]
The Nigerian Communications Commission (NCC) has reported that number of inactive or unused or abandoned lines across the mobile network operators’ (MNOs) networks declined by 13% in 2022, reflecting that more subscribers activated their lines in the year. According to the industry’s regulatory standard, a mobile line is considered to be inactive if it is […]
A professor of Economics at the Lagos Business School, Prof. Bongo Adi, has revealed that recent research by him and other university dons showed that the proliferation of digital lending apps’ deploying companies in the country has the potential of worsening Nigeria’s poverty level . The renowned economist, who made this remark during a webinar […]