BUSINESS

The World Bank has listed Nigeria among the three countries with the largest electricity deficits in the world. It said during the last decade, a greater share of the global population gained access to electricity than ever before, but the number of people without electricity in Sub-Saharan Africa increased. The bank disclosed this on Monday in a report, titled Universal access to sustainable energy will remain elusive without addressing inequalities’. […]

The Nigerian stock market reversed some of its recent losses last week as the market capitalisation rose above the N20tn mark. The Nigerian Exchange Limited All-Share Index and market capitalization appreciated by 1.23 per cent to close the week at 38,726.10 and N20.19tn respectively. All other indices finished higher with the exception of NSE Consumer Goods, NSE Oil/Gas and NSE Sovereign Bond which depreciated by 0.37 per cent, 0.79 per […]

FCT minister of state, Dr Ramatu Aliyu has pledged the administration's determination to collaborate with resourcesful B farmers towards developing the agriculture sector in the territory. The minister who stated this at the commemoration of the 2021international B day in Abuja identified lack of modern B keeping techniques and access to modern input as some of the major challenges facing the sector. She disclosed that already the FCT administration through […]

Economic and financial experts have raised concerns as the Nigerian economy grew slower in the first quarter of this year, compared to the same period of 2020. The National Bureau of Statistics said on Sunday that the Gross Domestic Product grew by 0.51 per cent in Q1 2021, compared to the 1.87 per cent growth rate recorded in Q1 2020. The country emerged from recession in Q4 2020 as the […]

Twitter has confirmed that it is exploring a paid subscription model for some features, and app researcher, Jane Manchun Wong tweeted on Saturday that she has discovered how much it will cost and what it will be called. “Twitter Blue,” Wong says, will cost $2.99 per month, and will include an Undo Tweets feature and bookmark collections. Wong says it appears Twitter is working on a tiered subscription model, which […]

The African Development Bank has pledged to support public development banks in achieving climate and sustainable development goals. The President of the AfDB, Dr. Akinwumi Adesina, said this at a virtual Finance in Common Summit. This comes ahead of a summit on Financing African Economies to be convened by French President, Emmanuel Macron on May 18. He also spoke on building a system able to work efficiently together to finance […]

The suspended managing director of Nigerian Ports Authority, Ms Hadiza Bala-Usman, has described the allegations leveled against her by a former senator, Ms Binta Garba, as spurious and unproven. Garba had accused the embattled NPA’s boss of masterminding her removal from the board of the authority. On Monday, Bala-Usman stated that Binta had lent herself as an agent of destabilization rather than contributing to the development of NPA. She added […]

The higher percentage of younger workers that have joined the Contributory Pension Scheme will help to sustain the system, the National Pension Commission has said. The commission disclosed in its report for the fourth quarter of 2020 that 77 per cent of the contributors were below 40 years of age. Part of the report noted that a review of the sectoral distribution for the quarter ended December 31, 2020 showed […]