In a significant milestone for Nigeria’s fintech sector, Moniepoint has achieved “unicorn” status after raising $110 million from investors, including Google. This development is a rare bright spot in an otherwise challenging funding environment for African technology companies. The funding round, led by London-based private equity firm Development Partners International (DPI) and supported by Google’s Read More…
President Bola Tinubu has decisively rejected the National Economic Council’s (NEC) recommendation to withdraw the proposed tax reform bills currently before the National Assembly. This decision underscores his commitment to allowing the legislative process to proceed, ensuring that necessary inputs and changes can be made without withdrawing the bills. “The legislative process, which has already Read More…
Governor Umo Eno of Akwa Ibom State has addressed concerns surrounding the multi-billion naira 18-storey Ibom Towers project in Lagos. Amidst criticisms from individuals and Civil Society Organisations (CSOs) about potential capital flight from Akwa Ibom State, Governor Eno has reassured the public of the project’s benefits. During the project’s flag-off in Victoria Island, he Read More…
The Nigerian National Petroleum Corporation (NNPC) Limited has announced the estimated pump prices of Premium Motor Spirit (PMS), popularly known as petrol, for retail stations across the country, following negotiations with the Dangote Refinery. In a press statement released on Monday, the NNPC revealed that the new prices reflect the cost of PMS supplied from Read More…
In a recent press statement, the Dangote Group has firmly denied claims made by the Nigerian National Petroleum Company Limited (NNPCL) regarding the sale price of Premium Motor Spirit (PMS). The NNPCL spokesperson, Mr. Olufemi Soneye, alleged that Dangote sold PMS at an exorbitant rate of N898 per litre. This statement, according to Dangote Group, Read More…
Lagos State Governor, Babajide Sanwo-Olu, has emphasized that smart packaging is critical for ensuring food security in Nigeria, boosting non-oil exports, and enhancing foreign exchange earnings. Speaking at the 11th edition of the Propak West Africa 2024 Smart Packaging Conference, held in Victoria Island, Lagos, Sanwo-Olu called it a “national priority” that can redefine the Read More…
The Federal Competition and Consumer Protection Commission (FCCPC) has issued a one-month moratorium to traders and market stakeholders involved in exploitative pricing, urging them to reduce the prices of goods. This announcement was made by the newly appointed Executive Vice Chairman of the FCCPC, Mr. Tunji Bello, during a one-day stakeholders engagement on exploitative pricing Read More…
Mr. Segun Ogunsanya, the former CEO of Airtel Africa, has been appointed as the new Chairman of the Nigeria Sovereign Investment Authority (NSIA). This significant move, aimed at bolstering the nation’s economic stability, was officially announced by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, at the Ministry of Read More…
Former Vice President of Nigeria, Atiku Abubakar, has called on the Federal Government to explain why Oando Plc, owned by President Bola Tinubu’s nephew, received accelerated approval to acquire the onshore assets of AGIP and ENI. This comes while other transactions, such as the Shell/Renaissance deal and the Mobil/Seplat deal, continue to face delays. Atiku Read More…
In a strongly worded statement, the Nigerian National Petroleum Company Limited (NNPC Ltd.) has categorically denied allegations leveled by former Vice President Atiku Abubakar, asserting that President Bola Ahmed Tinubu and Mr. Wale Tinubu hold a 49% stake in the OVH acquisition deal. The accusations suggest a broader scheme to entwine personal business interests with Read More…
