Category: Business News

Imo State has launched ImoTalentHub.com, the first of its kind digital talent marketplace in Africa. The platform connects the state’s rapidly growing ranks of software engineers, data scientists and designers with employers in Lagos, London, Dubai, Silicon Valley and other innovation hubs worldwide. Anchored in the government’s Skill Up Imo initiative and built in partnership […]

The Organization of Petroleum Exporting Countries (OPEC) says Nigeria’s average daily crude oil production increased to 1.505 million barrels per day (bpd) in June. OPEC spoke on Nigeria’s drilling performance in its latest monthly market report, released on Tuesday. The oil cartel said the production figures were obtained through direct communication with Nigerian authorities. The […]

The naira, Nigeria’s local currency, appreciated to N1,518.88 per dollar at the parallel section of the foreign exchange (FX) market on Monday. The current value represents a 0.75 percent gain from the N1,530.26/$ on July 11. The latest record marks the naira’s strongest performance since March 14, when it exchanged at N1,517.93 per dollar. So […]

Mayor of London, Sadiq Khan, on Tuesday in Lagos, promised the Nigerian business and technology sector close collaboration that would boost business growth, expansion, and job creation. Khan led a trade mission to Nigeria, comprising 26 high-growth enterprises, sustainability and fintech companies, through its Grow London Global programme, put together by London & Partners, London’s […]

The OPEC oil cartel said Thursday that demand for crude will continue to expand through at least 2050, calling efforts to rapidly shift away from fossil fuels an unworkable fantasy. In its latest annual report on the outlook for oil demand, OPEC sees global oil demand rising by 18.6 per cent from 103.7 million barrels […]

Multinational oil companies – Shell and TotalEnergies have announced that first oil and gas output from the $5 billion Bonga North field and the $550 million Ubeta gas field are expected to happen by 2027, barring any unforeseen circumstances. The two oil majors are also aggressively progressing towards bringing more projects to development phase, with […]

Two commercial banks in Nigeria have announced the resumption of international transactions on their naira cards. In separate announcements to customers, United Bank of Africa (UBA) and Wema Bank said the service has recommenced on their naira cards. The development comes about three years after many banks suspended international transactions on naira debit cards. In […]

Anew mechanism has been introduced, offering debt-distressed countries a way to coordinate their actions and amplify their voice in the global financial system. The mechanism, the ‘Borrowers’ Forum’, was inaugurated on Wednesday at the UN’s pivotal sustainable development conference in Sevilla, Spain. The inauguration comes at a time of rising debt distress across the developing […]

Shettima: FG creating enabling environment for enterprise As part of efforts geared towards ensuring positive outcomes from the federal government’s economic policy reforms, the Nigeria Employers Consultative Assembly (NECA) has said that the country could only attain sustainable economic growth through proper synergy between public and private sector stakeholders. To this end, NECA yesterday began […]

A ceasefire deal between Iran and Israel has caused Brent crude to plummet to $67.29, triggering mixed outcomes for Nigeria. Oil prices tumbled by as much as 6 per cent on Tuesday after Israel agreed to a ceasefire with Iran after nearly two weeks of conflict, in a peace deal for which US President, Donald […]