business
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In a move heralding a potential new era for Nigerian energy, the Federal Government has proudly confirmed the resumption of operations at the Port Harcourt Refining and Petrochemical Company, marking a milestone in the country’s quest for domestic fuel production. This long-awaited news brings to an end months of anticipation, following previous assurances from the […]
According to data released by the Debt Management Office (DMO), Nigeria’s total public debt rose slightly from N87.38 trillion in June to N87.91 trillion at the end of September. The N87.91 trillion comprises the domestic and external debts of the Federal Government of Nigeria, 36 state governments and the Federal Capital Territory. The country’s external […]
With Christmas just five days away, the Nigeria Labour Congress (NLC) is sounding the alarm over the persistent cash scarcity gripping the nation. In a fiery statement by President Joe Ajaero, the NLC warns of “serious implications” for citizens and demands immediate action from the government and the Central Bank of Nigeria (CBN). Bank customers […]
Frustration boils over as Nigerians, particularly grassroots farmers and petty traders, grapple with the ongoing cash crunch. Their once-lucrative businesses are withering under the strain, with many resorting to hiding their meager earnings outside the banking system for fear of them getting trapped. The pain extends beyond individual pockets. Small and medium-scale enterprise associations fear […]
Point of Sale (PoS) operators are feeling the pinch of a nationwide cash shortage, forced to buy cash at inflated rates from traders due to limited withdrawals from banks. This scramble for cash is shrinking their businesses, raising concerns about the broader impact on the Nigerian economy. Banks across the country have been grappling with […]
Lagos State Governor, Babajide Sanwo-Olu has called for the support of local and international investors to partner MSMEs and scale up products and services in order to break into AFCFTA and global market. He said with the collaboration, there will be a reasonable return on investment for small businesses in Lagos and Nigeria. Speaking at […]
Governor Babajide Sanwo-Olu has challenged Small and Medium Scale Enterprises (MSMEs) to leverage the opportunities presented by the nation’s economic challenges to grow their businesses and contribute to the nation’s Gross Domestic Product (GDP). Speaking at the opening ceremony of the eighth Lagos MSMEs Exclusive Trade Fair, Governor Sanwo-Olu, represented by Deputy Governor Dr. Obafemi […]
The Corporate Affairs Commission (CAC) has announced the delisting of 91,843 companies from its registry due to their failure to submit their annual returns. This figure represents a decrease of 2,738 companies compared to the initial list of 94,581 disclosed in August 2023. This action underscores the CAC’s commitment to maintaining an accurate and compliant […]
Nigeria’s Point of Sale (PoS) operators are facing a new challenge: a severe shortage of naira cash at banks. This has forced them to return to buying cash from traders and petrol station attendants, often at inflated prices. As a consequence, PoS operators have been compelled to increase their transaction charges by 100%, charging up […]
With just 26 days remaining before the December deadline, the Nigerian National Petroleum Corporation Limited (NNPCL) faces intensifying pressure to fulfill its promise of completing the Port Harcourt Refinery revamp. The state-owned oil company’s November 23rd confirmation that the refinery will be operational by December has ignited widespread skepticism, with analysts expressing doubts about the […]
