Business

Nigeria’s Gross Domestic Product grew by 3.84 per cent in real terms in the fourth quarter of 2024, reflecting an improvement from the 3.46 per cent recorded in the same period of 2023. This also marked a slight increase from the previous quarter, which recorded an identical 3.46 per cent growth rate. Economists and members […] More

The President of the Dangote Group, Alhaji Aliko Dangote, has hinged Nigeria’s industrialisation challenges on unstable electricity. Dangote said running a business abroad is 30 per cent cheaper than running the same business in Nigeria and other African countries due to stable electricity supply in developed countries. Africa’s richest man stated this recently while hosting […] More

The Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, has said that the bank has set a target of N100bn in disbursed loans from its partnership with auto technology firm Autochek by the end of the year. This was disclosed at the signing of a Memorandum of Understanding between the partners on Wednesday at the […] More

Nigerian billionaire Folorunso Alakija has lost her sight, according to medical sources involved in her care. Sources revealed to SaharaReporters that the 73-year-old founder and Executive Vice Chairman of Famfa Oil began experiencing health issues after a near air mishap. She was travelling with her husband, Modupe Alakija, Chairman of Famfa Oil, when the incident […] More

IMPORTANT NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means that…you can buy or sell 1 dollar at a certain rate and the price can change (high or low) within hours. Newsrain Nigeria has obtained the official naira black market exchange rate in Nigeria today […] More

Multi-asset management firm CardinalStone Partners Limited has announced the successful acquisition of a majority equity stake in Radix Pension Managers Limited. Following this acquisition, Radix Pension Managers Limited has been rebranded as CardinalStone Pensions Limited, a statement from the firm read on Friday. CardinalStone Partners Limited thus solidifies its position as a key player in […] More

The Federal Government has engaged the World Bank for a fresh $300m loan to strengthen Nigeria’s health security infrastructure. Information obtained from the World Bank showed that the loan, which is under consideration, will be implemented by the Nigeria Centre for Disease Control with the Federal Ministry of Finance acting as borrower on behalf of […] More

NNPC reacts to video portraying its fuel as substandard and threatens legal action NNPC reacts to video portraying its fuel as substandard and threatens legal action. The Nigerian National Petroleum Company Limited (NNPC) has debunked claims that it sells substandard petrol with a high burn rate. The company disclosed this on Saturday, February 15, 2025, […] More

The Nigeria Labour Congress has directed its members and Nigerians to boycott telecommunications services from Thursday, 13, 2025, following the implementation of a 50 percent telecom tariff. NLC stated that the boycott is expected to kick off on Thursday between 11 am and 2 pm till the end of February 2025. NLC disclosed this in […] More