Nairametrics https://nairametrics.com/ Destination for Business news and analysis from Africa's largest economy Sun, 18 Aug 2024 10:10:44 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Nairametrics https://nairametrics.com/ 32 32 201037849 Meet top 10 powerful CFOs of Nigeria’s largest companies by market cap  https://nairametrics.com/2024/08/18/meet-top-10-powerful-cfos-of-nigerias-largest-companies-by-market-cap/ https://nairametrics.com/2024/08/18/meet-top-10-powerful-cfos-of-nigerias-largest-companies-by-market-cap/#respond Sun, 18 Aug 2024 10:08:01 +0000 https://nairametrics.com/?p=496031 Despite Nigeria's challenging economic environment, characterized by persistent naira devaluation, high inflation, and socio-economic instability, the country's leading companies have achieved laudable market capitalizations.  

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]]> https://nairametrics.com/2024/08/18/meet-top-10-powerful-cfos-of-nigerias-largest-companies-by-market-cap/feed/ 0 496031 Forex reserves drop by $342.97 million, first time in four months  https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/ https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/#respond Sun, 18 Aug 2024 09:25:59 +0000 https://nairametrics.com/?p=496042 Nigeria's external reserves have dipped by approximately $342.97 million over a period of nine days. 

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]]> https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/feed/ 0 496042 AbdulSamad Rabiu’s networth falls by $1.1 billion in 90 days  https://nairametrics.com/2024/08/18/abdulsamad-rabius-networth-falls-by-1-1-billion-in-90-days/ https://nairametrics.com/2024/08/18/abdulsamad-rabius-networth-falls-by-1-1-billion-in-90-days/#respond Sun, 18 Aug 2024 08:47:20 +0000 https://nairametrics.com/?p=496029 AbdulSamad Rabiu, Nigeria's second richest man and Chairman of BUA Cement and BUA Foods, has experienced a significant decrease in his net worth, dropping by $1.1 billion over the past 90 days.  

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]]> https://nairametrics.com/2024/08/18/abdulsamad-rabius-networth-falls-by-1-1-billion-in-90-days/feed/ 0 496029 Will Ecobank Nigeria’s lagging performance impact group prospects?  https://nairametrics.com/2024/08/18/will-ecobank-nigerias-lagging-performance-impact-group-prospects/ https://nairametrics.com/2024/08/18/will-ecobank-nigerias-lagging-performance-impact-group-prospects/#respond Sun, 18 Aug 2024 08:41:42 +0000 https://nairametrics.com/?p=496028 As Ecobank Group continues to navigate the complexities of the African banking landscape, its Nigerian operations are increasingly becoming a point of concern, consistently lagging behind the Group’s other regions in terms of performance. 

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]]> https://nairametrics.com/2024/08/18/will-ecobank-nigerias-lagging-performance-impact-group-prospects/feed/ 0 496028 Lagos State’s free medical outreach ‘Alaafia Eko’ returns on August 20  https://nairametrics.com/2024/08/18/lagos-states-free-medical-outreach-alaafia-eko-returns-on-august-20/ https://nairametrics.com/2024/08/18/lagos-states-free-medical-outreach-alaafia-eko-returns-on-august-20/#respond Sun, 18 Aug 2024 08:09:38 +0000 https://nairametrics.com/?p=496027 The Lagos State Government has announced the return of its free medical outreach, 'Alaafia Eko', set to commence on Tuesday, August 20, 2024.  

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]]> https://nairametrics.com/2024/08/18/lagos-states-free-medical-outreach-alaafia-eko-returns-on-august-20/feed/ 0 496027 Some pensioners receive as low as N500-N3,500 monthly payouts – Nigeria Union of Pensioners https://nairametrics.com/2024/08/18/some-pensioners-receive-as-low-as-n500-n3500-monthly-payouts-nigeria-union-of-pensioners/ https://nairametrics.com/2024/08/18/some-pensioners-receive-as-low-as-n500-n3500-monthly-payouts-nigeria-union-of-pensioners/#respond Sun, 18 Aug 2024 08:05:58 +0000 https://nairametrics.com/?p=496026 The Nigeria Union of Pensioners (NUP) disclosed that some retirees in the country are receiving as little as N500- N3500 per month as their pension.

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]]> https://nairametrics.com/2024/08/18/some-pensioners-receive-as-low-as-n500-n3500-monthly-payouts-nigeria-union-of-pensioners/feed/ 0 496026 Federal Government to introduce new tax laws by September, targets regulation of cryptocurrency industry  https://nairametrics.com/2024/08/18/federal-government-to-introduce-new-tax-laws-by-september-targets-regulation-of-cryptocurrency-industry/ https://nairametrics.com/2024/08/18/federal-government-to-introduce-new-tax-laws-by-september-targets-regulation-of-cryptocurrency-industry/#respond Sun, 18 Aug 2024 05:54:46 +0000 https://nairametrics.com/?p=496025 The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, announced that the Federal Government is set to introduce new tax laws by September, which will include regulations for the cryptocurrency industry.  

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]]> https://nairametrics.com/2024/08/18/federal-government-to-introduce-new-tax-laws-by-september-targets-regulation-of-cryptocurrency-industry/feed/ 0 496025 CJN: Five landmark decisions by Kudirat Kekere-Ekun influencing Nigerian Court proceedings  https://nairametrics.com/2024/08/18/cjn-five-landmark-decisions-by-kudirat-kekere-ekun-influencing-nigerian-court-proceedings/ https://nairametrics.com/2024/08/18/cjn-five-landmark-decisions-by-kudirat-kekere-ekun-influencing-nigerian-court-proceedings/#respond Sun, 18 Aug 2024 05:45:00 +0000 https://nairametrics.com/?p=496024 The Supreme Court of Nigeria is one of the country's key policy-making institutions, constantly under the spotlight, particularly with the nomination of Justice Kudirat Motonmori Kekere-Ekun as Chief Justice of Nigeria.  

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]]> https://nairametrics.com/2024/08/18/cjn-five-landmark-decisions-by-kudirat-kekere-ekun-influencing-nigerian-court-proceedings/feed/ 0 496024 Hardship: Lagos State reintroduces 25% fare discount on regulated public transport services  https://nairametrics.com/2024/08/18/hardship-lagos-state-reintroduces-25-fare-discount-on-regulated-public-transport-services/ https://nairametrics.com/2024/08/18/hardship-lagos-state-reintroduces-25-fare-discount-on-regulated-public-transport-services/#respond Sun, 18 Aug 2024 05:35:12 +0000 https://nairametrics.com/?p=496023 The Lagos State Government has reintroduced a 25% fare discount on all regulated transportation modes, including buses, ferries, and train services, as part of its efforts to alleviate economic hardship.  

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]]> https://nairametrics.com/2024/08/18/hardship-lagos-state-reintroduces-25-fare-discount-on-regulated-public-transport-services/feed/ 0 496023 Edo State Government recruits 5,500 new teachers to strengthen education sector  https://nairametrics.com/2024/08/18/edo-state-government-recruits-5500-new-teachers-to-strengthen-education-sector/ https://nairametrics.com/2024/08/18/edo-state-government-recruits-5500-new-teachers-to-strengthen-education-sector/#respond Sun, 18 Aug 2024 05:30:37 +0000 https://nairametrics.com/?p=496021 The Edo State Government has announced the recruitment of 5,500 teachers as part of the EdoBest programme, aimed at strengthening the education system.

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]]> https://nairametrics.com/2024/08/18/edo-state-government-recruits-5500-new-teachers-to-strengthen-education-sector/feed/ 0 496021 Cost of Governance: Tinubu bars unauthorized officials from attending United Nations General Assembly in New York  https://nairametrics.com/2024/08/18/cost-of-governance-tinubu-bars-unauthorized-officials-from-attending-united-nations-general-assembly-in-new-york/ https://nairametrics.com/2024/08/18/cost-of-governance-tinubu-bars-unauthorized-officials-from-attending-united-nations-general-assembly-in-new-york/#respond Sun, 18 Aug 2024 05:24:57 +0000 https://nairametrics.com/?p=496022 President Bola Tinubu has barred unauthorized officials from attending the forthcoming United Nations General Assembly (UNGA) meetings in New York, United States.  

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]]> https://nairametrics.com/2024/08/18/cost-of-governance-tinubu-bars-unauthorized-officials-from-attending-united-nations-general-assembly-in-new-york/feed/ 0 496022 Lagos State opens Mushin Flyover, final of five Red Line overpasses for public use  https://nairametrics.com/2024/08/17/lagos-state-opens-mushin-flyover-final-of-five-red-line-overpasses-for-public-use/ https://nairametrics.com/2024/08/17/lagos-state-opens-mushin-flyover-final-of-five-red-line-overpasses-for-public-use/#respond Sat, 17 Aug 2024 18:30:08 +0000 https://nairametrics.com/?p=496017 The Lagos State Government has officially opened the Mushin Flyover for public use, marking the completion of the last of five overpasses constructed along the Red Line Corridor.  

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]]> https://nairametrics.com/2024/08/17/lagos-state-opens-mushin-flyover-final-of-five-red-line-overpasses-for-public-use/feed/ 0 496017 Nigeria’s 4 refineries can only meet 50% of country’s daily petrol demand — Energy Expert  https://nairametrics.com/2024/08/17/nigerias-4-refineries-can-only-meet-50-of-countrys-daily-petrol-demand-energy-expert/ https://nairametrics.com/2024/08/17/nigerias-4-refineries-can-only-meet-50-of-countrys-daily-petrol-demand-energy-expert/#respond Sat, 17 Aug 2024 17:59:42 +0000 https://nairametrics.com/?p=496004 A former technical adviser to the Minister of Petroleum Resources and energy expert, Daniel Kunle, has revealed that the four national refineries, even at full capacity, could only produce about 20 million liters of petrol daily. 

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]]> https://nairametrics.com/2024/08/17/nigerias-4-refineries-can-only-meet-50-of-countrys-daily-petrol-demand-energy-expert/feed/ 0 496004 Nigerian Companies spend over N170 billion on Travel, Hotel expenses up 51% https://nairametrics.com/2024/08/17/nigerian-companies-spend-over-n170-billion-on-travel-hotel-as-inflation-climbs/ https://nairametrics.com/2024/08/17/nigerian-companies-spend-over-n170-billion-on-travel-hotel-as-inflation-climbs/#comments Sat, 17 Aug 2024 16:31:41 +0000 https://nairametrics.com/?p=495997 According to our research analysis, companies spent a whopping N174 billion on travel and accomodation expenses in 2023, up from the N115 billion incurred in the same period in 2022.

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]]> https://nairametrics.com/2024/08/17/nigerian-companies-spend-over-n170-billion-on-travel-hotel-as-inflation-climbs/feed/ 1 495997 EmbassyCard introduces prepaid digital card for payment without network connection, POS machines  https://nairametrics.com/2024/08/17/embassycard-introduces-prepaid-digital-card-for-payment-without-network-connection-pos-machines/ https://nairametrics.com/2024/08/17/embassycard-introduces-prepaid-digital-card-for-payment-without-network-connection-pos-machines/#respond Sat, 17 Aug 2024 16:06:53 +0000 https://nairametrics.com/?p=495996 EmbassyCard revolutionizes digital payment system with no network connection and POS machine EmbassyCard, a Nigerian fintech company with presence in several states of the nation has introduced a new digital prepaid card to merchants and residents of Lagos. This is aimed at solving some fundamental challenges faced by the FINTECH industry in the country such […]

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]]> https://nairametrics.com/2024/08/17/embassycard-introduces-prepaid-digital-card-for-payment-without-network-connection-pos-machines/feed/ 0 495996 ‘I can’t afford this anymore’: Nigerian Parents on the struggle with rising School Fees https://nairametrics.com/2024/08/17/i-cant-afford-this-anymore-nigerian-parents-on-the-struggle-with-rising-school-fees/ https://nairametrics.com/2024/08/17/i-cant-afford-this-anymore-nigerian-parents-on-the-struggle-with-rising-school-fees/#respond Sat, 17 Aug 2024 15:07:45 +0000 https://nairametrics.com/?p=495993 Amidst Nigeria's rising inflation, families across the country are grappling with the escalating cost of education. 

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]]> https://nairametrics.com/2024/08/17/i-cant-afford-this-anymore-nigerian-parents-on-the-struggle-with-rising-school-fees/feed/ 0 495993 Oil firm denies importing substandard petrol to Nigeria amid Malta blending plant controversy   https://nairametrics.com/2024/08/17/oil-firm-denies-importing-substandard-petrol-to-nigeria-amid-malta-blending-plant-controversy/ https://nairametrics.com/2024/08/17/oil-firm-denies-importing-substandard-petrol-to-nigeria-amid-malta-blending-plant-controversy/#respond Sat, 17 Aug 2024 14:00:03 +0000 https://nairametrics.com/?p=495990 An indigenous oil company, Matrix Energy Group, has reacted to a report that it is importing substandard petrol into Nigeria, particularly from Malta, insisting its products meet the required guidelines.  

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]]> https://nairametrics.com/2024/08/17/oil-firm-denies-importing-substandard-petrol-to-nigeria-amid-malta-blending-plant-controversy/feed/ 0 495990 NNPC to job seekers: We are not selling employment slots https://nairametrics.com/2024/08/17/nnpc-to-job-seekers-we-are-not-selling-employment-slots/ https://nairametrics.com/2024/08/17/nnpc-to-job-seekers-we-are-not-selling-employment-slots/#respond Sat, 17 Aug 2024 11:41:45 +0000 https://nairametrics.com/?p=495988 The Nigerian National Petroleum Company Limited (NNPC) Limited has firmly denied any allegations of involvement in the sale of employment slots to job seekers in the country. 

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]]> https://nairametrics.com/2024/08/17/nnpc-to-job-seekers-we-are-not-selling-employment-slots/feed/ 0 495988 Nigeria’s NGX Index drops 1.51% as investors react to results and Inflation data https://nairametrics.com/2024/08/17/nigerias-ngx-index-drops-1-51-as-investors-react-to-results-and-inflation-data/ https://nairametrics.com/2024/08/17/nigerias-ngx-index-drops-1-51-as-investors-react-to-results-and-inflation-data/#respond Sat, 17 Aug 2024 10:27:18 +0000 https://nairametrics.com/?p=495985 The Nigerian Stock Market (NGX) All-Share Index and market capitalization fell by 1.51% this week, closing at 97,100.31 points and N55.132 trillion, respectively, as investors weighed mixed corporate earnings, dividend announcements, and a slight dip in inflation.

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]]> https://nairametrics.com/2024/08/17/nigerias-ngx-index-drops-1-51-as-investors-react-to-results-and-inflation-data/feed/ 0 495985 Union Bank records 138% profit growth for 2023 as restructuring plans continue https://nairametrics.com/2024/08/17/union-bank-records-138-profit-growth-for-2023-as-restructuring-plans-continue/ https://nairametrics.com/2024/08/17/union-bank-records-138-profit-growth-for-2023-as-restructuring-plans-continue/#respond Sat, 17 Aug 2024 09:13:02 +0000 https://nairametrics.com/?p=495983 Nigeria’s second oldest bank, Union Bank of Nigeria has reported a pre-tax profit of N71.8 billion in the 2023 full year, marking a 138% growth from the N30.2 billion posted in FY 2022.  

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]]> https://nairametrics.com/2024/08/17/union-bank-records-138-profit-growth-for-2023-as-restructuring-plans-continue/feed/ 0 495983