Business

The Minister of Communication, Innovation and Digital Economy, Bosun Tijani, says the federal government approved a 50 per cent tariff hike for telecommunication companies to sustain the industry. Mr Tijani added that the new tariff would allow telecommunication companies to be able to invest in new infrastructure and improve connectivity. He said this at the […] More

The Naira gained N18.85 and N20 against the dollar on a week-on-week basis, respectively, at the official and parallel foreign exchange markets. At the official FX, FMDQ showed that the Naira ended the week under review at N1531.20 per dollar on Friday, 24th January, 2025, from the beginning of the week at N1,550.05. This indicated […] More

Telecommunications operators are awaiting detailed guidelines from the Nigerian Communications Commission to outline the specifics and framework required for implementing the controversial 50 per cent tariff hike. The telecom regulator is expected to issue a ‘determination document,’ which serves as a blueprint to define the frameworks, terms, and conditions for implementing the approved tariff adjustments. […] More

The Securities and Exchange Commission has cautioned the public against engaging in investment-related transactions with Risevest (Victoria Island) Cooperative Multipurpose Society Limited and Stecs (Alausa) Multipurpose Cooperative Society, popularly known as Stecs, stating that neither entity is registered or authorised to operate in the Nigerian capital market. In a circular issued over the weekend in […] More

The Ibadan Electricity Distribution Company is under fire for raising its minimum energy credit purchase requirement for Band A customers to N5,000. The Disco also capped the minimum energy credit for customers on other bands at N2,000, sparking outrage and condemnation from various consumer groups. In a message to its customers, the IBEDC said, “Please […] More

The Oyo State governor, Seyi Makinde, has stated that his administration has done a number of things to create an enabling environment for technology-oriented companies and others to thrive in the state. Makinde stated this at the weekend while delivering a remark at the Robotics and Artificial Intelligence Nigeria Summit 1.0 with the theme “The […] More

Oil marketers have revealed that the landing cost of Premium Motor Spirit (petrol) as of Friday was N922.65 per litre. Dealers said this cost factors in various expenses including shipping, import duties, and exchange rates. The amount is a considerable reduction of N32.35 from the N955 per litre offered at the loading gantry of the […] More

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has expressed optimism about Nigeria’s inflation trajectory for 2025, asserting that the country could achieve a significant reduction from the average inflation rate of 34.80 per cent in 2024 to 15 per cent. Oyedele said this at the PwC & BusinessDay […] More

A newly released Jumia report has said that e-commerce in Africa is set to surpass half a billion users by 2025. The report titled “Top Trends Defining 2025’s E-commerce Future” highlighted that these trends signal new opportunities for inclusivity, innovation, and customer-centric strategies. According to the report, e-commerce is poised for a transformative year in […] More

Valentine’s Day is just weeks away, and as the countdown begins, many are already thinking about how to make this year’s celebration special. In this article, we will explore how gifting stocks can provide a unique, lasting, and impactful way to celebrate your love. Instead of a bouquet, consider a gift that can grow in […] More

The Federal Government has approved N4bn for conditional cash transfers to vulnerable households in Nigeria. During the launch of the 2025 Nigeria Humanitarian Needs and Response Plan at the United Nations House in Abuja on Thursday, Minister of Humanitarian Affairs and Poverty Reduction, Prof Nentawe Yilwada announced the interventions to address the country’s deepening humanitarian […] More

Transcorp Power Plc has disclosed a 115 per cent rise in revenue to N305.9 billion in 2024 financial year from N142.1 billion recorded in 2023. Transcorp’s most recent audited results, shared to the Nigerian Exchange (NGX), also indicated that profit after tax increased by 165 per cent to N80 billion from N30.2 billion. Transcorp also […] More