Author: Olakunle Oke
Page: 21
The clash between South Africa’s Bafana and Cape Verde’s Blue Sharks in the TotalEnergies Africa Cup of Nations quarter-finals on Saturday extended into extra time and penalties before a decisive winner emerged. Cape Verde faced a setback as they lost their first three penalties, with former Manchester United player Bebe missing the opening shot. South […]
Pressure on Nigeria’s foreign exchange market eased significantly on Wednesday as commercial banks responded to the Central Bank of Nigeria’s (CBN) 24-hour ultimatum to sell excess dollars. Banks offloaded dollars into the official market, leading to an 85.36% increase in dollar transactions compared to the previous day. This surge in activity pushed the daily foreign […]
Oil marketers raised anxieties recently, expressing fear that the Naira’s depreciation against the dollar (currently around N1,450/USD) could translate to higher pump prices for petrol. They questioned how the Nigerian National Petroleum Company Limited (NNPCL) could maintain current subsidized fuel costs with increasing import costs. However, at an event in Abuja, the Minister of State […]
Bureau de Change (BDC) operators in Abuja have pulled down their shutters, citing a critical shortage of US dollars. This announcement, made by association chairman Abdulahi Dauran, comes as the Nigerian Naira continues to depreciate against the greenback. The Naira hit an all-time low of N1,482 per dollar on the official market on Tuesday. Meanwhile, […]
The Lagos State government is gearing up for a major infrastructure push in 2024, allocating a whopping 550.68 billion naira to develop and maintain critical projects across the state. This ambitious plan, announced by Commissioner of Economic Planning and Budget Ope George, represents 24.28% of the entire budget and reflects a strong commitment to improving […]
China has officially dethroned Japan as the world’s biggest vehicle exporter in 2023, marking a significant shift in the global automotive industry. This achievement can be largely attributed to China’s aggressive push towards electric vehicles (EVs), while Japanese giants like Toyota and Nissan remain cautious in this rapidly evolving market. Official data confirms that China […]
The Independent Media and Policy Initiative (IMPI), an advocacy group, voiced support for President Bola Tinubu’s ambitious plan to cultivate 500,000 hectares of land across the country, potentially aiding in lowering food costs. At a press conference in Abuja, the group’s Chairman, Niyi Akinsiju, lauded the collaboration between the federal government and state governments on […]
The Nigerian National Petroleum Company Limited (NNPCL) held promising talks with a South Korean consortium led by Daewoo E&C, aiming to tap into Nigeria’s vast gas resources. These discussions, held in Seoul, South Korea, signify NNPCL’s strategic drive to leverage its gas reserves and become a leading supplier of clean, affordable energy to the global […]
The Central Bank of Nigeria (CBN) and international airlines operating in the country are at odds over the remaining amount of unpaid ticket revenue trapped in Nigeria. While the CBN claims to have settled all verified claims, amounting to $136.73 million, the International Air Transport Association (IATA) insists approximately $700 million remains outstanding. On Tuesday, […]
Get ready for an economic giant in the making! India is poised to become the world’s third-largest economy by 2027, boasting a colossal $5 trillion GDP, according to the nation’s finance ministry. This exciting prediction arrives just ahead of the highly anticipated interim budget announcement later this week. Fueling this ambitious forecast is India’s impressive […]
