Business

President Bola Tinubu's recent approval of the first phase of the Consumer Credit Scheme, managed by the Nigerian Consumer Credit Corporation (CREDICORP), marks a significant step towards enhancing social mobility in Nigeria. Aimed initially at civil servants, the scheme seeks to democratize...

Amidst the ongoing economic turbulence in Nigeria, the value of the national currency, the naira, has continued its downward trajectory across both official and unofficial foreign exchange markets. Speculators are capitalizing on the situation, leading to a surge in demand for the US dollar...

In response to the recent fuel scarcity concerns gripping various regions of Nigeria, the Nigeria National Petroleum Company Limited (NNPC Ltd) has attributed the tightness in Premium Motor Spirit (PMS) supply to logistical issues, asserting that these challenges have been effectively addressed...

Amidst escalating demand for the US dollar, the Nigerian Naira continues its downward trajectory, reaching a concerning exchange rate of 1,420 Naira per dollar on Thursday. This marks a significant depreciation from the previous rate of 1,309 Naira/$ at the official market and signals ongoing...

In a bid to safeguard consumer interests amidst recent price hikes by MultiChoice Nigeria, the Federal Competition and Consumer Protection Commission (FCCPC) has announced plans to conduct a thorough review of the subscription increases on DSTV and GOtv packages. Adamu Abdullahi, the Acting CEO...

PZ Cussons Plc, a distinguished British consumer goods conglomerate with a rich legacy dating back 140 years, is weighing the prospect of withdrawing from its African operations. The decision follows a sharp decline in sales within its Nigerian market, prompting the company to reassess its...

Telecommunication companies in Nigeria, represented by the Association of Licensed Telecom Operators of Nigeria (ALTON) and the Association of Telecommunication Companies of Nigeria (ATCON), are considering increasing prices for data and voice services. In a joint statement, they highlighted...

The SBM Intelligence's 'Crisis at the Table' report unveils alarming statistics regarding the escalating costs of preparing Jollof rice in Nigeria, shedding light on the economic challenges faced by households. Over almost eight years, the average cost of a pot of Jollof rice for a family of...

Allen Onyema, chairman of Air Peace, has accused Gatwick Airport of employing delaying tactics in granting the airline slots to operate on the Lagos to London route between October and December. Speaking at the 48th Annual General Meeting of the National Association of Nigeria Travel Agencies...

The Nigerian Naira faced significant depreciation, falling to N1,400 against the US dollar on the black market, fueled by intensified demand pressure in the foreign exchange (FX) market. This represents a 19.64 percent loss in just two weeks compared to the rate of N1,125 per dollar recorded...