By Jemimah Wellington, JKNewsMedia Reporter NIGERIANS ARE reeling from the latest hike in data prices by MTN Nigeria Communications Plc, with subscribers expressing outrage over the sharp increase in costs. The telecom company is said to have raised the price of its 15GB weekly data plan from N2,000 to N6,000, representing a staggering 200 pe...
By Rosheedat Akinkunle, JKNewsMedia Reporter SECURING FUNDING for Nigeria’s critical minerals value chain has taken a significant step forward with the establishment of a dedicated study facility. The Global Council for Critical Minerals, a specialised branch of the UN-backed Sustainable Energy for All (SEforALL), has provided financial suppo...
By Jemimah Wellington, JKNewsMedia Reporter THE EXCHANGE rate between the naira and the US dollar appeared steady mid-week, with the local currency trading at N1,605/$1 in the parallel market on February 5, 2025. Reports note that this followed a brief period of fluctuation earlier in the week, offering a glimpse of relative stability in the ...
By Mustafa Chike Obi & Adetilewa Adebajo Introduction: THE INTEREST rate spread is the difference between the interest rates charged on loans and the interest rates paid on deposits. This has been an area of concern since the Nigerian banking liberalisation regime. The unusually wide spreads in comparison to regional and global banking ...
By Jemimah Wellington, JKNewsMedia Reporter NIGERIA’s BORROWING landscape has revealed a dominant reliance on microfinance banks (MFBs), despite a noticeable drop in borrower numbers. Recent data from the Central Bank of Nigeria (CBN) shows that 95.66% of all bank debtors as of September 2024 were tied to MFBs, cementing their critical ...
By JKNewsMedia THE ESTABLISHMENT of the Nigeria Solid Minerals Corporation is poised to significantly transform the country’s mining sector. Minister of Solid Minerals Development, Dr. Dele Alake, revealed these plans during a meeting with the British Deputy High Commissioner to Nigeria, HE Jonny Baxter, at the Ministry’s office on...
By Jemimah Wellington, JKNewsMedia Reporter NIGERIA’s FOREIGN reserves fell below the critical $40 billion mark for the first time since June 2024, dropping to $39.991 billion on 23 January 2025. This marked a decrease from $40.035 billion recorded on 20 January 2025, according to data from the Central Bank of Nigeria (CBN). Economic analysts...
By Jemimah Wellington, JKNewsMedia Reporter ADDRESSING THE persistent economic challenges in Nigeria requires urgent collaboration between the public and private sectors to drive industrial development and support Small and Medium Enterprises (SMEs). Olasupo Olusi, Managing Director of Bank of Industry (BoI) emphasised this during an interact...
— As Company Rolls Out Five Mini-LNG Stations in Ajaokuta This Week Described by Nigerians from all walks of life as unprecedented, President Bola Tinubu will be performing the groundbreaking ceremony for five mini-LNG plants in Ajaokuta, Kogi State. NNPC Ltd’s Chief Corporate Communications Officer, Olufemi Soneye spoke to a select group of n...
UNCTAD Report SHIFTING GLOBAL economic dynamics have significantly impacted Foreign Direct Investment (FDI), with Africa witnessing an 84% surge, largely attributed to a megaproject in Egypt. According to the latest report by the United Nations Conference on Trade and Development (UNCTAD), without this single project, the continent’s FDI grew...
