The wealth of the world’s billionaires including Nigeria’s Aliko Dangote, Tesla and SpaceX chief executive, Elon Musk and others grew by $2trillion (£1.64trillion) in 2024, three times faster than in 2023, amounting to $5.7billion a day, according to a report by Oxfam. Dangote, with a net worth of $11billionn, is Africa’s richest person, holding a…
The trade volume between Nigeria and the United States (U.S) has reached $11.2billion, an improvement from the $10.04billion it was last years, U.S. Ambassador to Nigeria, Richard Mills Jr has said. The envoy spoke when he delivered welcome remarks to the attendees of a forum hosted for over 450 Nigerian companies for the Networking with…
Amnesty International said in a report on Thursday that Nigerian police used excessive force and shot protesters while cracking down on demonstrations in August over a cost of living crisis, killing at least 24 people. The countrywide protests over economic hardship, also dubbed “#10DaysOfRage”, were the biggest demonstrations in Nigeria since October 2020. The Nigeria…
National Commissioner and CEO, Nigeria Data Protection Commission (NDPC), Dr. Vincent Olatunji, has ordered a full-scale investigation into the data processing activities of Optasia which operates in Nigeria as Nairtime Nigeria Ltd. This investigation was triggered by a pattern of suspected non-compliant data processing which was discovered during routine regulatory oversight of data controllers and…
Nigeria’s leading telecommunications provider, Globacom, has appointed telecom veteran Ahmad Farroukh as its new Chief Executive Officer. This leadership change aims to strengthen the company’s corporate governance and operational performance, aligning with the Nigerian Communications Commission’s (NCC) recent drive for improved governance standards within the telecom industry. Farroukh’s extensive experience in African telecommunications positions him…
With just one high-quality refinery for each of many mineral resources available in Nigeria and Africa, they could generate an additional $6.8 billion in annual revenues and create approximately 3,500 good quality jobs operating in the battery supply chain, according to a United Kingdom (UK) report. The report entitled: ‘From Minerals to Manufacturing: Africa’s Competitiveness…
Commodity prices in Nigeria and other parts of the world are set to tumble to a five-year low next year amid an oil glut that is so large that it is likely to limit the price effects even of a wider conflict in the Middle East, according to the World Bank’s latest Commodity Markets Outlook….
British Foreign Secretary David Lammy, expected in Nigeria today (November 3rd) has said his mission is to foster economic growth between the two countries. His visit to Nigeria will mark his first trip to the African continent as Foreign Secretary. Committing to a fresh approach to Africa that works productively from Morocco to Madagascar, the…
Oil marketers have accused Dangote Refinery of fixing a product price regime that is the highest when compared with other sources. Acting under the aegis of Independent Petroleum Marketers Association of Nigeria (IPMAN), they said it is more expensive to buy premium motor spirit (PMS) or petrol from the Dangote Petroleum Refinery than from other…
