Business News Archives - Nairametrics https://nairametrics.com/category/nigeria-business-news/ Destination for Business news and analysis from Africa's largest economy Sun, 18 Aug 2024 08:05:58 +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 Business News Archives - Nairametrics https://nairametrics.com/category/nigeria-business-news/ 32 32 201037849 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.

The post Some pensioners receive as low as N500-N3,500 monthly payouts – Nigeria Union of Pensioners appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/18/some-pensioners-receive-as-low-as-n500-n3500-monthly-payouts-nigeria-union-of-pensioners/feed/ 0 496026 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.  

The post Cost of Governance: Tinubu bars unauthorized officials from attending United Nations General Assembly in New York  appeared first on Nairametrics.

]]> 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 Rice importation through Nigeria’s land borders still banned — Customs clarifies   https://nairametrics.com/2024/08/17/rice-importation-through-nigerias-land-borders-still-banned-customs-clarifies/ https://nairametrics.com/2024/08/17/rice-importation-through-nigerias-land-borders-still-banned-customs-clarifies/#respond Sat, 17 Aug 2024 08:57:13 +0000 https://nairametrics.com/?p=495982 The Nigeria Customs Service (NCS) has confirmed that the new fiscal measures on food importation apply only to paddy rice, while the federal government maintains its restriction on rice importation through land borders. 

The post Rice importation through Nigeria’s land borders still banned — Customs clarifies   appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/17/rice-importation-through-nigerias-land-borders-still-banned-customs-clarifies/feed/ 0 495982 Nigerian PhD holders would need 85 years of savings to afford Lawmakers’ N160 Million SUVs — Peter Obi    https://nairametrics.com/2024/08/16/nigerian-phd-holders-would-need-85-years-of-savings-to-afford-lawmakers-n160-million-suvs-peter-obi/ https://nairametrics.com/2024/08/16/nigerian-phd-holders-would-need-85-years-of-savings-to-afford-lawmakers-n160-million-suvs-peter-obi/#comments Fri, 16 Aug 2024 15:17:31 +0000 https://nairametrics.com/?p=495964 Labour Party’s presidential candidate in the last general election, Peter Obi, has expressed deep concern over the exorbitant cost of governance in Nigeria, highlighting that an average PhD holder would have to save for years to afford the N160 million SUVs driven by lawmakers. 

The post Nigerian PhD holders would need 85 years of savings to afford Lawmakers’ N160 Million SUVs — Peter Obi    appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/16/nigerian-phd-holders-would-need-85-years-of-savings-to-afford-lawmakers-n160-million-suvs-peter-obi/feed/ 1 495964 Report reveals 70% of Lagos workers lack access to loans from employers https://nairametrics.com/2024/08/16/report-reveals-70-of-lagos-workers-lack-access-to-loans-from-employers/ https://nairametrics.com/2024/08/16/report-reveals-70-of-lagos-workers-lack-access-to-loans-from-employers/#respond Fri, 16 Aug 2024 12:42:33 +0000 https://nairametrics.com/?p=495952 Despite being the commercial hub of Nigeria, seven out of ten workers (70%) in Lagos are unable to access loans or credit from their employers, a new study reveals.  

The post Report reveals 70% of Lagos workers lack access to loans from employers appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/16/report-reveals-70-of-lagos-workers-lack-access-to-loans-from-employers/feed/ 0 495952 FG accuses Chinese firm of attempt to seize Nigeria’s presidential jets, other offshore assets in France   https://nairametrics.com/2024/08/15/fg-accuses-chinese-firm-of-attempt-to-seize-nigerias-presidential-jets-other-offshore-assets-in-france/ https://nairametrics.com/2024/08/15/fg-accuses-chinese-firm-of-attempt-to-seize-nigerias-presidential-jets-other-offshore-assets-in-france/#respond Thu, 15 Aug 2024 14:22:05 +0000 https://nairametrics.com/?p=495878 The Federal Government has raised concerns over an attempt by Zhongshan Fucheng Industrial Investment Co. Limited, a Chinese firm, to seize Nigeria’s presidential jets and other offshore assets through a court case in Paris, France. 

The post FG accuses Chinese firm of attempt to seize Nigeria’s presidential jets, other offshore assets in France   appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/15/fg-accuses-chinese-firm-of-attempt-to-seize-nigerias-presidential-jets-other-offshore-assets-in-france/feed/ 0 495878 Aliko Dangote’s Wealth Down by $1.2 Billion in 2024  https://nairametrics.com/2024/08/15/aliko-dangotes-wealth-down-by-1-2-billion-in-2024/ https://nairametrics.com/2024/08/15/aliko-dangotes-wealth-down-by-1-2-billion-in-2024/#respond Thu, 15 Aug 2024 10:05:39 +0000 https://nairametrics.com/?p=495849 Aliko Dangote, the business magnate behind the $20 billion refinery in Nigeria's business capital, has seen his wealth decrease by more than $1 billion this year. 

The post Aliko Dangote’s Wealth Down by $1.2 Billion in 2024  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/15/aliko-dangotes-wealth-down-by-1-2-billion-in-2024/feed/ 0 495849 Customs lists conditions for companies seeking to participate in duty-free food import  https://nairametrics.com/2024/08/15/customs-lists-conditions-for-companies-seeking-to-participate-in-duty-free-food-import/ https://nairametrics.com/2024/08/15/customs-lists-conditions-for-companies-seeking-to-participate-in-duty-free-food-import/#respond Thu, 15 Aug 2024 05:55:42 +0000 https://nairametrics.com/?p=495818 The Nigeria Customs Service (NCS) has unveiled requirements for companies seeking to participate in the duty-free food importation program as approved by the federal government.  

The post Customs lists conditions for companies seeking to participate in duty-free food import  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/15/customs-lists-conditions-for-companies-seeking-to-participate-in-duty-free-food-import/feed/ 0 495818 Inflation: FMCG transaction volume in Nigeria declines by 17.4% in 2024 – Report   https://nairametrics.com/2024/08/14/inflation-fmcg-transaction-volume-in-nigeria-declines-by-17-4-in-2024-report/ https://nairametrics.com/2024/08/14/inflation-fmcg-transaction-volume-in-nigeria-declines-by-17-4-in-2024-report/#respond Wed, 14 Aug 2024 13:07:53 +0000 https://nairametrics.com/?p=495780 The latest report by NielsenIQ has revealed that the Nigerian Fast-Moving Consumer Goods (FMCG) market has seen a 17.4% decline in the volume of transactions this year as Nigerians continue to battle with the high cost of goods. 

The post Inflation: FMCG transaction volume in Nigeria declines by 17.4% in 2024 – Report   appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/14/inflation-fmcg-transaction-volume-in-nigeria-declines-by-17-4-in-2024-report/feed/ 0 495780 Top 10 Fastest Growing Film Industries in the World  https://nairametrics.com/2024/08/14/top10-fastest-growing-film-industries-in-the-world/ https://nairametrics.com/2024/08/14/top10-fastest-growing-film-industries-in-the-world/#respond Wed, 14 Aug 2024 12:00:32 +0000 https://nairametrics.com/?p=495751 By the end of 2023, the global box office had risen to an estimated $33.9 billion, representing a significant 30.5% increase from the previous year. However, this figure remains 15% below the average revenue of the three pre-pandemic years (2017-2019). Projections for 2024 suggest a potential decline to $31.5 billion, largely due to disruptions from […]

The post Top 10 Fastest Growing Film Industries in the World  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/14/top10-fastest-growing-film-industries-in-the-world/feed/ 0 495751 NASS proposes N25 million fine for anyone operating unlicensed insurance business in Nigeria  https://nairametrics.com/2024/08/14/nass-proposes-n25-million-fine-for-anyone-operating-unlicensed-insurance-business-in-nigeria/ https://nairametrics.com/2024/08/14/nass-proposes-n25-million-fine-for-anyone-operating-unlicensed-insurance-business-in-nigeria/#respond Wed, 14 Aug 2024 09:13:09 +0000 https://nairametrics.com/?p=495762 The National Assembly of Nigeria has proposed a penalty of N25 million for individuals found operating unlicensed insurance businesses in the country. 

The post NASS proposes N25 million fine for anyone operating unlicensed insurance business in Nigeria  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/14/nass-proposes-n25-million-fine-for-anyone-operating-unlicensed-insurance-business-in-nigeria/feed/ 0 495762 Nigerian Senators collect N1 million monthly salary, covering entertainment, constituency allowance, others – Revenue Commission  https://nairametrics.com/2024/08/14/nigerian-senators-collect-n1-million-monthly-salary-covering-entertainment-constituency-allowance-others-revenue-commission/ https://nairametrics.com/2024/08/14/nigerian-senators-collect-n1-million-monthly-salary-covering-entertainment-constituency-allowance-others-revenue-commission/#respond Wed, 14 Aug 2024 06:02:35 +0000 https://nairametrics.com/?p=495742 The Revenue Mobilisation Allocation and Fiscal Commission has confirmed that each Nigerian Senator receives a monthly salary and allowances totaling N1,063,860, covering various needs such as entertainment and constituency allowances. 

The post Nigerian Senators collect N1 million monthly salary, covering entertainment, constituency allowance, others – Revenue Commission  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/14/nigerian-senators-collect-n1-million-monthly-salary-covering-entertainment-constituency-allowance-others-revenue-commission/feed/ 0 495742 Customs to lose N188 billion in revenue over tariff removal on food imports   https://nairametrics.com/2024/08/14/customs-to-lose-n188-billion-in-revenue-over-tariff-removal-on-food-imports/ https://nairametrics.com/2024/08/14/customs-to-lose-n188-billion-in-revenue-over-tariff-removal-on-food-imports/#respond Wed, 14 Aug 2024 05:02:24 +0000 https://nairametrics.com/?p=495738 The Nigeria Customs Service (NCS) has stated that the revenue loss over the six month approved duties free importation of food items could reach N188 billion.  

The post Customs to lose N188 billion in revenue over tariff removal on food imports   appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/14/customs-to-lose-n188-billion-in-revenue-over-tariff-removal-on-food-imports/feed/ 0 495738 Cross River begins construction of N4 billion Entertainment Centre Project  https://nairametrics.com/2024/08/13/cross-river-begins-construction-of-n4-billion-entertainment-centre-project/ https://nairametrics.com/2024/08/13/cross-river-begins-construction-of-n4-billion-entertainment-centre-project/#respond Tue, 13 Aug 2024 17:49:02 +0000 https://nairametrics.com/?p=495727 The Cross River State Government has initiated construction on a N4 billion entertainment centre at Tortugal Island, Marina Resort, Calabar, aimed at enhancing the state's tourism sector and revenue streams. 

The post Cross River begins construction of N4 billion Entertainment Centre Project  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/13/cross-river-begins-construction-of-n4-billion-entertainment-centre-project/feed/ 0 495727 Deadpool & Wolverine jumps to N420 million in Nigerian cinemas  https://nairametrics.com/2024/08/13/deadpool-wolverine-jumps-to-n420-million-in-nigerian-cinemas/ https://nairametrics.com/2024/08/13/deadpool-wolverine-jumps-to-n420-million-in-nigerian-cinemas/#respond Tue, 13 Aug 2024 13:00:49 +0000 https://nairametrics.com/?p=495701 Disney’s Marvel superhero movie, Deadpool and Wolverine, has achieved notable success at the Nigerian box office, with total ticket sales reaching N420 million.

The post Deadpool & Wolverine jumps to N420 million in Nigerian cinemas  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/13/deadpool-wolverine-jumps-to-n420-million-in-nigerian-cinemas/feed/ 0 495701 Tinubu to depart Abuja for Equatorial Guinea on Wednesday for Investment, Security Talks  https://nairametrics.com/2024/08/13/tinubu-to-depart-abuja-for-equatorial-guinea-on-wednesday-for-investment-security-talks/ https://nairametrics.com/2024/08/13/tinubu-to-depart-abuja-for-equatorial-guinea-on-wednesday-for-investment-security-talks/#respond Tue, 13 Aug 2024 11:11:42 +0000 https://nairametrics.com/?p=495691 President Tinubu is set to leave the presidential villa Abuja for Malabo, Equatorial Guinea, on a three-day official visit to honour the invitation of President Teodoro Obiang Nguema Mbasogo.   

The post Tinubu to depart Abuja for Equatorial Guinea on Wednesday for Investment, Security Talks  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/13/tinubu-to-depart-abuja-for-equatorial-guinea-on-wednesday-for-investment-security-talks/feed/ 0 495691 Nollywood “The Betrayed” grosses N24 million after 10 days at Nigerian box office  https://nairametrics.com/2024/08/13/nollywood-the-betrayed-grosses-n24-million-after-10-days-at-nigerian-box-office/ https://nairametrics.com/2024/08/13/nollywood-the-betrayed-grosses-n24-million-after-10-days-at-nigerian-box-office/#respond Tue, 13 Aug 2024 07:41:13 +0000 https://nairametrics.com/?p=495671 Nollywood's latest release, *The Betrayed*, has achieved significant box office success, grossing N24 million within 10 days of its release.

The post Nollywood “The Betrayed” grosses N24 million after 10 days at Nigerian box office  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/13/nollywood-the-betrayed-grosses-n24-million-after-10-days-at-nigerian-box-office/feed/ 0 495671 New Zealand to increase student visa fees by 90% for Nigerians, others  https://nairametrics.com/2024/08/12/new-zealand-to-increase-student-visa-fees-by-90-for-nigerians-others/ https://nairametrics.com/2024/08/12/new-zealand-to-increase-student-visa-fees-by-90-for-nigerians-others/#respond Mon, 12 Aug 2024 20:14:11 +0000 https://nairametrics.com/?p=495664 The New Zealand Government has announced a 90% increase in student visa fees for Nigerians and citizens from non-Pacific countries.

The post New Zealand to increase student visa fees by 90% for Nigerians, others  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/12/new-zealand-to-increase-student-visa-fees-by-90-for-nigerians-others/feed/ 0 495664 New Zealand plans to raise visa fees by October for foreign workers, others  https://nairametrics.com/2024/08/12/new-zealand-plans-to-raise-visa-fees-by-october-for-foreign-workers-others/ https://nairametrics.com/2024/08/12/new-zealand-plans-to-raise-visa-fees-by-october-for-foreign-workers-others/#respond Mon, 12 Aug 2024 12:47:29 +0000 https://nairametrics.com/?p=495638 The New Zealand Government has announced a significant increase in visa fees and levies, effective from October 1, 2024.  

The post New Zealand plans to raise visa fees by October for foreign workers, others  appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/12/new-zealand-plans-to-raise-visa-fees-by-october-for-foreign-workers-others/feed/ 0 495638 Senate denies Obasanjo’s allegations about National Assembly fixing its own salary   https://nairametrics.com/2024/08/11/senate-denies-obasanjos-allegations-about-national-assembly-fixing-its-own-salary/ https://nairametrics.com/2024/08/11/senate-denies-obasanjos-allegations-about-national-assembly-fixing-its-own-salary/#respond Sun, 11 Aug 2024 16:15:04 +0000 https://nairametrics.com/?p=495603 The Nigerian Senate has denied the allegation by former president Olusegun Obasanjo that the lawmakers set their own salaries or receives special fiscal packages from the Presidency.  

The post Senate denies Obasanjo’s allegations about National Assembly fixing its own salary   appeared first on Nairametrics.

]]> https://nairametrics.com/2024/08/11/senate-denies-obasanjos-allegations-about-national-assembly-fixing-its-own-salary/feed/ 0 495603