Sep 25, 2024 · The Federal Government has approved a modification to the Consolidated Public Service Salary Structure (CONPSS), effective July 24. Ekpo Nta, Chairman of the National Salaries, Incomes, and Wages Commission (NSIWC), made the statement during a press briefing in Abuja on Tuesday. Nta stated that President Bola Tinubu signed the Act after it …

Oct 23, 2024 · The International Monetary Fund (IMF) has forecasted that Nigeria’s economy will grow by 3.2% in 2025, while inflation is expected to decrease to 25% that same year. This was revealed in the IMF’s latest World Economic Outlook (WEO) report, which also projects global economic growth to remain steady at 3.2% in 2025, unchanged from 2024. […]

Sep 26, 2024 · Interswitch, one of Africa’s leading integrated payments and digital commerce companies, has announced a game-changing partnership with the Nigeria Interbank Settlement System (NIBSS) that will make your payment transactions smoother and faster than ever before. Buckle up, because your payment experience is about to level up big time! So what’s the scoop? The Central Bank […]

Jan 25, 2024 · The World Bank has issued a positive economic outlook for Nigeria, projecting a Gross Domestic Product (GDP) growth of 3.7% in the year 2025. This forecast, outlined in the latest report titled “Global Economic Prospect: Subdued Growth, Multiple Challenges,” represents an improvement from the previously projected 2.9% for the year 2023.

Dec 27, 2024 · Nigeria’s oil sector continues to attract significant investments, with Shell’s approval of a $5 billion Final Investment Decision (FID) for the Bonga North Deep Offshore project. This move highlights the country’s growing appeal as a destination for international oil companies (IOCs) and underscores the positive impact of ongoing economic reforms.

Oct 9, 2024 · The Securities and Exchange Commission (SEC) has announced its intention to enforce stricter regulations within Nigeria’s fintech ecosystem to address issues of fund mismanagement and ensure operators comply with existing capital market rules. This was revealed by SEC Director-General Emomotimi Agama, during his keynote address at the Nigeria Fintech Week held on Tuesday. Agama emphasized […]

Sep 19, 2024 · Nigeria’s government Eurobond yield rose in the international market as foreign investors assessed the impact of the US Fed rate drop on their portfolio returns. Foreign investors may begin to increase their bets on African Eurobond assets and local bonds with competitive returns in the coming months, owing to the Fed’s dovish stance on interest […]

Nov 18, 2024 · Ibe Wada studied Mass Communication and a dedicated journalist. She is currently working with Bizwatch, an online media platform, where she applies her expertise in delivering impactful news stories and engaging reportage.

In 2023, four of Nigeria’s most valuable companies—Dangote Group, Nestle Nigeria, and MTN Nigeria—lost N1.7 trillion due to the naira’s depreciation. Based on an examination of their financial statements available on the Nigerian Exchange Group website, the listed companies suffered enormous losses in the 2023 fiscal year, primarily from foreign exchange losses. The biggest company […]

Sep 12, 2024 · Innoson Vehicle Manufacturing Company (IVM) has unveiled its first locally produced electric vehicle. Cornel Osigwe, Head of Communications and Corporate Affairs at IVM, shared the milestone on Facebook, emphasizing the significance of this achievement for the Nigerian automotive industry. Osigwe noted that the electric vehicle was manufactured at IVM’s state-of-the-art production facility ...