The U.S lifted a ban on imports of Mexican avocados, ending a week-long suspension triggered by a threat against a food inspector that halted America’s primary supply of the produce. “This is definitely good news — for consumers, for supermarkets, for the industry as a whole,” said David Magana, senior analyst for Rabobank International in…
Nigeria’s federal government on Thursday in Abuja, officially handed over Spectrum Allocation for 5G deployment to the Nigerian Communications Commission (NCC).The Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami, who doubles as the Chairman of the National Frequency Management Council (NFMC), did the official handover of the Spectrum Allocation for 5G licence to…
Nigeria’s Gross Domestic Product (GDP) grew by 3.40 per cent in 2021, the highest since 2014, when the economy grew by 6.22 per cent, the National Bureau of Statistics (NBS) disclosed on Thursday.According to the National GDP Q4 report released by the NBS, the expansion in economic activities was majorly driven by the non-oil sector.The…
Group Managing Director and Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, Mr. Mele Kyari, on Wednesday apologised to Nigerians for damages caused by the importation of substandard fuel into the country. Kyari assured Nigerians that normalcy would return to petrol stations by next week, saying the national oil company has taken necessary…
The Chief Executive Officer of Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has advised Nigerians not to entertain the illusion that the Dangote Refinery would guarantee them cheaper supply of refined petroleum products.Rewane said the most the Dangote refinery would guarantee was improved supply of petrol in Nigeria’s domestic market, but would not affect…
Tesla chief executive Elon Musk donated a total of 5,044,000 shares in the world’s most valuable automaker to a charity from Nov. 19 to Nov. 29 last year, its filing with the U.S. Securities and Exchange Commission (SEC) showed on Monday. The donation was worth $5.74 billion, based on the closing prices of Tesla shares…
Flutterwave, a leading technology company, announced on Tuesday that it has raised $250 million in Series D funding, valuing the company at over $3 billion as the brand continues to transform the way Africans transact on the continent and worldwide. Flutterwave has become the highest valued African startup with this investment. It is a validation…
British consumer pricesrose at the fastest annual pace in nearly 30 years last month, intensifying the squeeze on households and reinforcing the chances that the Bank of England will raise interest rates for a third meeting in a row. The annual rate of consumer price inflation rose to 5.5% in January, the highest since March…
A combination of huge oil pipeline repairs cost and a high-level crude oil theft are bleeding the Nigerian economy, with losses amounting to at least $29 billion in the last six years, spanning 2015 to 2021. In February last year, the Nigerian National Petroleum Company (NNPC) Limited disclosed that the country lost an average of…
