nigeria business news

The Minister of Information and Culture, Lai Mohammed, says Nigeria music revenue is projected to hit $86 million (about N3.096 billion) in 2021, making it the biggest in Africa. The minister gave the projection on Thursday in Madrid, Spain at the 11th edition of the Tourism Investment … Read...

Lekki Port is to create direct and indirect business revenue impact of $158billion in Nigeria during its concessioned period. Also, approximately $20billion is to be spent by the port on employee salaries during in the period, while revenue to Federal agencies from taxes, royalties and...

The Federal Government’s bond auction for January 2020 was subscribed by over 300 per cent, Debt Management Office (DMO) has confirmed. At the bond auction session held yesterday, DMO offered N155.00 billion of three instruments (five-year, 10-year and … Read more via Newtelegraph –...

Desire of the management of Dangote Cement to ‘buy back’ 10 per cent of its entire issued shares from shareholders was unanimously granted on Wednesday as the company’s shareholders’ voted in support of the ‘share buy back’ plans. Dangote Cement, … Read more via Newtelegraph –...

The Lagos State police command is investigating three new generation banks for alleged fraud and money laundering of US$450,267.82, which is about N162,765,000. Already, two persons, including a bank worker, have been arrested in connection with the fraud and they are … Read more via The...

In their efforts to promote economic integration and harmonise trade and investment in their region, the 15 member states of the Economic Community of West African States, ECOWAS, on Saturday, June 29, 2019 agreed to replace their respective domestic currencies with a new one … Read more via...

Globally, about $25 billion to $30 billion will be spent on oil exploration activities although cost efficiency challenges may slip by as much as 15 … Read more via The Guardian Nigeria News – Nigeria and World News – https://ift.tt/38vqCAt Get more: Nigeria Business News

Nigerian digital payments startup Paga has acquired Apposit, a software development company based in Ethiopia, for an undisclosed amount. That’s just part of Paga’s news. The Lagos based startup will also launch its payment products in Mexico this year and in Ethiopia imminently, CEO Tayo...

IN a bid to ensure that Nigeria does not flout the International Maritime Organization, IMO, Convention on sulfur content of the fuel used by vessels, the Nigerian Maritime Administration and Safety Agency, NIMASA, Department of Petroleum Resources, DPR, and the Nigerian National Petroleum...

AFTER a careful review of the case between Samsung Heavy Industries, SHI, and the Lagos Deep Offshore Limited, LADOL base, the Nigerian Ports Authority, NPA, has leased a total of 11.2426 hectares of the land to SHI … Read more via Vanguard News – https://ift.tt/30Jwfsi Get more: Nigeria...

Investors’ confidence in Nigeria’s economy dropped below its nine years average according to a survey by the Association of Chartered Certified Accountants (ACCA) and Institute of Management Accountants (IMA). The association disclosed this yesterday in its latest Global Economic Conditions...

Flutterwave, a Nigerian-based payments technology company with operations in Africa, today announced that it has closed a $35m Series B funding from a consortium of strategic investors. The round was co-led by Greycroft & eVentures with additional participation from CRE Venture Capital...

It appears there is no respite yet for consumers, especially those who make use of the Internet facility, as the service has remained at its lowest ebb in the last five days.... Read more via The Guardian Nigeria News – Nigeria and World News – https://ift.tt/36eFp1c Get more: Nigeria...

The social media and technology company based in the UK is set to employ 1,000 people in the United Kingdom before the year comes to a close. This is such exciting news has 1000 people would be with a job courtesy of social media and technology country.… Read more via Plus TV Africa –...

Flutterwave, a San Francisco-based payments technology company with operations in Africa, today announced that it has closed a $35m Series B from a consortium of strategic investors. The round was co-led by Greycroft & eVentures with.... Read more via Forbes – https://ift.tt/37dw5M5 Get...

ABUJA— The management of Nigerian Electricity Regulatory Commission, NERC, has commenced a process that would trigger the construction of smart mini-grid system in the urban and rural communities across the country. Chairman of NERC, Professor James Momoh, who disclosed this while speaking...

Opera has frequently tried to claim the moral high ground in the web browser world, but it’s being accused of using its side projects for far less virtuous behavior. Hindenburg Research has published a report alleging that Opera is running four Android apps aimed at India, Kenya and Nigeria …...

Stakeholders who gathered last week to find solution to the intractable gridlock in Apapa not only identified deep-rooted corruption and operational deficiencies on the part of terminal operators, but also said allegations of extortion by policemen and members of the presidential task force have...

Guaranty Trust Bank, Nigeria’s largest bank by market capitalization, has crashed its interest rate for its payday loans from 1.75% to 1.33% per month. The bank reviewed its rate, which is published on its website, as it becomes one of the lowest in the lending space.... Read more via...

Nigerian tech start-ups participating in the second season of the Facebook Accelerator Programme have recorded significant achievements, including raising over $500,000 in committed investments and grants in just three months (halfway through the programme). Within the same period, they …...