Business Climate and Economy

Small business owners in Lagos spend N5.3 trillion annually on fueling generators – Report
October 14, 2024

Micro, small, and medium enterprise (MSMEs) owners in Lagos State spend a staggering $3.3 billion annually...

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Sectors that attracted the most foreign investment in Nigeria 2024 Q2
October 14, 2024

In the first half of 2024, Nigeria’s total capital importation stood at $5.98 billion made up...

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10 countries with highest foreign investments into Nigeria in Q2 2024
October 14, 2024

Nigeria’s capital importation in the second quarter of 2024 declined by 22.85% from $3.37 billion in...

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Nigeria loses N3tr yearly to poor waste recovery in food industry
October 10, 2024

Inefficient waste recovery in the fast-moving consumer goods (FMCG) and food and beverage sectors cost the...

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Barge Operators Rake In N2trn From 4m Container Movements
October 10, 2024

Despite the outcry over illegal incursions, barge operators have earned $1.2 billion from four million import...

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Palmpay, OPay, other mobile money operators process N41.5 trillion transactions in 7 months
October 10, 2024

Data released by the Nigeria Inter-Bank Settlement Systems (NIBSS) has revealed that licensed mobile money operators...

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Fintechs lead as African startups raise $138 million in September 2024—Report
October 10, 2024

African startups announced a total of $138 million in September 2024, encompassing equity, debt, and grants....

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African airlines record 10.1% growth in international passenger demand for August 2024 – IATA
October 10, 2024

African airlines reported a 10.1% increase in international passenger demand in August 2024 compared to the...

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Nigeria To Earn N792bn From Premium Cashew Nut Export
October 10, 2024

Despite smuggling and unfavourable weather, exporters are expected to earn $480 million from Vietnam and India...

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Local refineries produced 1.46 billion litres of petrol – Report
October 6, 2024

From 2015 to 2019, Nigeria could only produce 1.46 billion litres of petrol due to low...

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Tech upgrade gulps N178bn in five banks
October 6, 2024

The combined spending of five Nigerian banks on ramping up their information technology was $108.7 million...

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Study: AI To Add $15bn To Nigeria’s Economy By 2030
October 6, 2024

A report on Nigeria’s economic study carried out by an independent body, Public First, has revealed...

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