700,000 manufacturers, MSMEs apply for FG N150bn loan
About 700,000 manufacturers and micro, small and medium enterprises have expressed intention to become beneficiaries of the Federal Government’s N150bn loan to help businesses in Nigeria navigate the current economic crunch. The Minister of Industry, Trade and Investment, Doris Aniete,…
Mangal Takes Over Amid Dangote and Rabiu Cement Clash
Move over Dangote and Rabiu, there’s a new cement king in town, and he’s ready to shake things up! Katsina-born tycoon Dahiru Mangal has just rolled out the first bags of cement from his brand-new $1.5 billion plant in Moba,…
NCC Approves New Tariff Plans For MTN, Airtel, Glo, Other Telcos
The Nigerian Communications Commission (NCC) has approved new tariff guidelines for telecommunication (telcos) operators to enhance transparency, improve consumer understanding, and foster fair competition among the commission licensees. The commission also mandated all telcos in the country to limit the…
Guinness Nigeria records 31% revenue growth
Guinness Nigeria Plc has announced a 31 per cent year-on-year revenue growth for the financial year ended June 30, 2024. A statement by Guinness on Tuesday said the strong performance was more pronounced in the second half of the year,…
MTN Nigeria records largest half-year loss ever
(MTNN), the local subsidiary of Africa’s largest mobile network operator MTN Plc, reported a sixfold surge in loss after tax to N519 billion in the first half of the year. According to its earnings report issued on Wednesday, this represents…
Tribunal Dismisses DStv, GOtv Price Hike Case
The Competition and Consumer Protection Tribunal (CCPT) has struck out a subscription price hike case instituted against MultiChoice Nigeria. A three-member tribunal struck out the suit following a request by the claimant, Festus Onifade, to withdraw his case against MultiChoice….
Guinness maker Diageo records decline in profits
Disgeo has recorded a decline in operating profit in a “volatile operating environment.” Organic operating profit was down 4.8pc to $6bn (€5.5bn) in the year ended June 30. This was driven by a 21.1pc drop in sales in the Latin…
NCC orders telcos to reactivate all lines barred over NIN-SIM verification issues
The Nigerian Communications Commission (NCC) has ordered all telecommunication companies in the country to reactivate all lines they have barred over issues surrounding the linking and verification of National Identification Numbers (NIN) linked with their SIMs. The sudden U-turn from…
Dangote lost $651 million amid sell-offs in Dangote Cement and naira’s rapid fall
Aliko Dangote, Africa’s richest man, saw his wealth valuation dip significantly in dollar terms amid the naira devaluation and recent sell-offs in Dangote Cement. The Kano-born billionaire lost $651 million on Friday and is down by $1.3 billion this year….
Wema Bank unveils payment solution for MSMEs
Wema Bank has unveiled a payment gateway for Micro, Small and Medium Enterprises in the country. The platform named ALATPay, which offers a secure end-to-end shopping experience for customers and instant settlement for merchants, all via the merchant’s unique ALATPay…