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11

Oil inches upward as Iran’s helicopter crash fuels market uncertainty

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Business a.m. Oil prices saw a slight increase on Monday as traders closely monitored the situation surrounding the rescue efforts for Iran’s President Ebrahim Raisi and his foreign minister following a helicopter crash. The development is…

Friday, May 17

19

National cocoa committee seeks urgent action amid EU deforestation regulation

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Onome Amuge The National Cocoa Management Committee (NCMC) has called for urgent action within the cocoa sector in response to the European Union’s Deforestation Regulation (EUDR), highlighting the need to align with the EUDR’s…

17

NCC suspends MVNO licence,2 others to review market dynamics

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Joy Agwunobi The Nigerian Communications Commission (NCC) has announced a temporary suspension of new licence issuance to operators in three telecommunications categories to facilitate a comprehensive review of market saturation,…

Thursday, May 16

19

Access Bank, Aig-Imoukhuede Foundation join forces with $300m commitment for Africa’s economic transformation

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Business a.m. The Aig-Imoukhuede Foundation and Access Bank Group have jointly pledged $300 million over the next 20 years to support African government initiatives with a proven potential to transform national economic performance. A…

16

Emirates return to Nigeria: To relaunch Lagos-Dubai flights on October 1

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Business a.m Emirates Airlines has announced that it will resume services to Nigeria starting October 1, 2024, offering daily flights between Lagos and Dubai, United Arab Emirates, providing customers with more choice and connectivity from…

15

Nigeria relaunches licensing round with 12 oil blocks

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…Announces investment prospects, despite plummeting oil industry Ben Eguzozie Nigeria, seeking to accelerate upstream investment in its plummeting oil industry, relaunched licensing round, while also announcing available opportunities in…

TotalEnergies set to give clean cooking access to 100m people in Africa, India

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· 2.3bn people worldwide lack access to clean cooking solutions · 93,000 women, children die from firewood-cooking smoke in Nigeria – WHO Ben Eguzozie At the Clean Cooking summit organized by the International Energy Agency (IEA),…

58 Nigerian entities banned from World Bank projects over corruption allegations

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Business a.m. The World Bank has imposed sanctions on 58 Nigerian companies and individuals in what it considered an effort to combat corruption and uphold transparency. According to the international financial institution, the sanctions,…

12

FG reaffirms commitment to leverage gas resources for Nigeria’s economic revival

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Business a.m. The federal government has reiterated its determination to utilise Nigeria’s abundant gas resources towards revamping the nation’s industrial growth and kickstarting its economic prosperity, in line with its renewed hope…

Wednesday, May 15

19

AfDB commits $2bn to enhance access to clean cooking across Africa

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Cynthia Ezekwe The African Development Bank (AfDB), a multilateral development finance institution, has pledged the sum of $2 billion to promote clean cooking solutions in Africa over the next decade. Akinwumi Adesina, AfDB President,…

16

Nigeria’s GDP to surge to $502bn with massive fiber optic cable deployment via SPV

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Joy Agwunobi The Federal Government of Nigeria has announced the launch of a special purpose vehicle (SPV) to expand the country’s fibre optic cable network by an additional 90,000km to enhance connectivity across Nigeria, building on…

CIIN tasks fellows on insurance penetration, sustainability

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Cynthia Ezekwe The Chartered Insurance Institute of Nigeria (CIIN) has called for unflinching support from fellows of the institute to facilitate insurance penetration, champion inclusivity, and promote the sustainability of the insurance…

NITDA ,Cisco join forces to accelerate AI, smart agriculture

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Joy Agwunobi National Information Technology Development Agency (NITDA) has formed an alliance with Cisco Systems Incorporation, projected to accelerate Nigeria’s digital transformation and provide opportunities for innovation and growth.…

15

FPIs return to rescue Nigeria from FX crisis

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In the twilight years of the immediate past President Muhammadu Buhari-led administration in Nigeria, foreign investors of all hues virtually left the country. However, the first quarter 2024 report of the Nigerian Exchange Group (NGX)…

Rethinking Nigeria’s approaches to agriculture business investment

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Nigeria is a country on 923,768 square kilometres of land. Over 65 percent of this land is arable land, which is good for agriculture, but most of the agriculture land-holdings in developing nations are small and cannot sustain modern…

Leadership alchemy: Nature’s wisdom from Mont Blanc slopes

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“A true leader has the confidence to stand alone, the courage to make tough decisions, and the compassion to listen to the needs of others. He does not set out to be a leader, but becomes one by the equality of his actions and the…

Lagos Leather Fair leads the charge in elevating African leather ecosystem

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Onome Amuge The Lagos Leather Fair, an annual event showcasing Africa’s leather industry, has announced its 2024 edition with the theme “Levelling Up.” The fair aims to stimulate growth within the African leather ecosystem by gathering…

Foodstuff Store introduces Innovative recycling programme

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Diana Tenebe, chief operating officer at Foodstuff Store Business a.m. Food tech company, Foodstuff Store, has announced the introduction of its innovative recycling programme. The expansion of the corporate mission to include waste…

Climate change, agribusiness and global food security consolidation

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Food is among the three basic needs of man, and it is very essential for human survival. This has been scientifically proven, for every person to understand and accept, through academic studies on food’s biochemical processes. Studies have…

Nigeria’s Inflation Soars to 33.69% in April 2024-NBS

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Business a.m. The National Bureau of Statistics (NBS) has released the latest inflation data for Nigeria, which revealed a marked increase in the headline inflation rate from 33.20 percent in March 2024 to 33.69 percent in April 2024,…

14

Shanghai Exchange outshines NASDAQ, NYSE with $26.2bn in IPOs in 2023

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Ben Eguzozie Shanghai Stock Exchange (SSE) outshone NASDAQ and NYSE combined with $26.2 billion in initial public offers (IPOs) in 2023, according to data presented by Stocklytics.com. Edith Reads, financial specialist at Stocklytics, said…

Why Nigeria should consider hosting foreign military bases

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DAMILARE EBENIZA Damilare Ebeniza studied Political Science and International Relations in Nigeria, Benin Republic, and France, with a research focus on Nigerian history, economy, and foreign politics. He has experience as a conference…

Corporate misconduct: 20 companies fined $7bn since Jan.

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Fine a drop-in-the-ocean for 8 coys Giant Amazon can pay in 32 seconds Ben Eguzozie In the face of daily corporate misconduct, latest research by Tradingpedia.com reveals that at least 20 companies across the world have been slapped with…

Cyber threats and Nigerian supply chain vulnerabilities

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In a bustling office in Lagos, the day at NaijaTech, a prominent software development company, began like any other. However, the routine was abruptly disrupted when the IT manager received alerts of unusual network activity. It was soon…

A national honour for retired police commissioner Adeoye

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TUNDE OYEDOYIN Tunde Oyedoyin is a London-based personal finance coach and founder of Money Intelligence Coaching Academy, a specialist academy of personal finance. He can be reached as follows: +447846089587 (WhatsApp only); E-mail:…

Electronic gates, airports, technology and Africa

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Airport electronic gates, also known as e-gates or automated border control gates, are becoming increasingly prevalent at airports around the world. These gates are designed to streamline the immigration and security process for passengers…

The dilemma of delay in Africa’s rise

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BEFORE THE JUNE 2010 report on Africa by McKinsey, a global consulting company, Africa was largely ignored by many pundits, influential media, global policy analysts, investment consultants, international investors, diplomats and even…

Challenges of insurance penetration and sustainable insurance density

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CHUKWUMA ONONIWU FCILRM (NG), FICRMP (U.K.), alumnus of Abia State University Lagos Business School, Pan Atlantic University, is a consummate insurance broker, insurance management consultant and digital insurance advocate. He is an i.g.i.…

Wrong insurance claims impressions

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Any insurance policy you have is meant to put you at peace anywhere and anytime. Always ensure you comply with the terms and conditions of your insurance policy (contract), so that when an accident or incident occurs, your insurer will not…

13

Moniepoint Inc. retains top spot as Africa’s fastest-growing financial institution in FT ranking

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World’s leading financial publication confirms Moniepoint’s rapid revenue growth Onome Amuge Moniepoint Inc., the parent company of leading Nigerian financial institutions Moniepoint MFB and TeamApt Ltd, has been ranked as Africa’s fastest…