Economy

After a decade and a half of dormancy, there’s renewed hope for the OML-25 oil asset in Rivers State. The facility has transitioned from its original operator, SPDC, to Renaissance Africa Energy, setting the stage for potential resumption of activities. However, this new chapter comes with its own set of …

Do NOT invest if you don’t have a long term focus. Focus on the long game. Today was a PAINFUL day in the markets. This is when I must remember that investing isn’t a sprint; it’s a marathon. It takes time, focus, and attitude. I admit it, I worry too …

Global Markets Plunge as China Retaliates in Escalating Trade War The FTSE 100 suffered a sharp decline after China announced retaliatory tariffs against the U.S., intensifying the global trade war. The UK’s benchmark stock index dropped as much as 3.9%, marking its steepest fall since the outbreak of the Ukraine …

The war on tariffs, who wins? China, Japan and South Korea agreed to jointly respond to U.S. tariffs, a social media account affiliated with Chinese state media said on Monday, an assertion Seoul called “somewhat exaggerated”, while Tokyo said there was no such discussion. The state media comments came after …

The Federal Government of Nigeria has approved the construction of three new refineries to address its local demand for refined petroleum. The report states that the three licensed refineries will add approximately 140,000 barrels per day to the existing production, raising the total expected output to 880,000 barrels per day. …

Nigerian Senate Moves To Ban Dollar Salaries, Foreign Currency Transactions Nigeria’s Senate is moving to ban the use of the dollar and other foreign currencies for local transactions, with the introduction of a new bill. The proposed legislation, titled “A Bill for an Act to Alter the Central Bank of …

UBA Group to Commence Full Banking Operations in France “As part of President Asiwaju Bola Ahmed Tinubu’s state visit to France, the Chairman of UBA Group, in the presence of President Tinubu and the President of France, Emmanuel Macron, signed a landmark business cooperation agreement with the French Finance Minister, …

The Central Bank of Nigeria (CBN) has charged Nigerian youths to cultivate the culture of saving for a fulfilled future. The apex bank celebrated World Savings Day, yesterday, October 31, in Abuja. The Acting Head of Consumer Protection Department of CBN, Mr. Ibrahim Yahaya, told journalists at the event, that …

The National Chairman of the All Progressives Congress (APC), Umar Ganduje, says President Tinubu is doing a great job and working to make sure the current economic hardship facing the people comes to an end. He said this when he spoke in Akure at the inauguration of the 305-member National …

The Federal Government has proposed a five per cent excise duty on telecommunications services, gaming, and betting activities as part of a new bill to overhaul Nigeria’s tax framework. The bill, titled, “A Bill for an Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks relating to …