The Nigeria Inter-Bank Settlement System (NIBSS) has said enrollments for the bank verification number (BVN) increased to 64.83 million in January. According to data from the NIBSS, the figure represents an increase of 1.35 million, compared to the 63.47 million recorded in January 2024. The BVN is an 11-digit number unique to each individual across…
BPR Hub, a San Francisco and Bangalore, India based company has announced a $2.6 million seed funding round to help manufacturers finally solve their critical challenge. Every day, manufacturers wrestle with increasing complex regulatory requirements imposed by clients and regulatory bodies. Small and medium-sized manufacturers (SMEs) in particular struggle to stay compliant while managing day-to-day…
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…
Konga’s annual Jara campaign has sparked excitement among Nigerian shoppers, offering timely discounts of up to 50% across various product categories. The initiative, themed “Confam New Year Deals,” has emerged as a vital lifeline for consumers navigating the financial challenges typical of January. Market analysis shows a significant surge in essential household purchases, with electronics,…
Subscribers have faulted the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, over his statement that telecom subscribers in the country will have to pay between 30per cent and 60 per cent in end user tariffs. They said the minister’s statement reflected his insensitivity and is contrary to the agreements reached between the Consumer…
The ultra-premium tequila brand under Pernod Ricard, Avión Tequila, has entered the Nigerian market, making its grand debut at Flytime Fest 2024. It was introduced to festival-goers as one of its exceptional range of tequilas and set the tone for a new chapter in the country’s premium spirits industry. With Nigeria’s appetite for luxury goods…
The Federal Ministry of Agriculture and Food Security, (FMAFR) and the National Identity Management Commission, (NIMC) have introduced digital identity cards with multiple wallets for farmers and other Nigerians to boost food security, and increase Gross Domestic Product (GDP) of the country. According to the government authorities the development was in tandem with the National…
Following the increase in the ex-depot price of premium motor spirit (PMS) or petrol to N950 per litre from the previous N909 per litre by depot owners, there is now a surge in oil marketers seeking to key into the bulk-purchase agreement incentives being offered by the Dangote Petroleum Refinery. The refinery, which has pegged…
Nigeria’s Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, has assured oil and gas players that pump prices of fuel shall continue to be determined by the forces of demand and supply as is the practice is a deregulated market environment. The minister spoke at the Petroleum Industry Stakeholders Forum Meeting in Abuja, which brought…
