Business

Social media firms Twitter and Snap are continuing to add users even as pandemic restrictions ease. Snapchat’s number of daily users topped 293 million in the three months to the end of June, beating analysts’ expectations. And Twitter reported it passed the 200 million mark for daily active users who view adverts on its platform […]

The Federal Government has said that the COVID-19 pandemic has wiped off 20 per cent from the $25bn annual diasporan remittances to Nigeria. The government noted that various targeted programmes were being implemented to shore up the deficit. Disclosing this at a press briefing in Abuja on Thursday to announce the 2021 Diaspora Day celebration […]

Bitcoin has jumped past $30,000 as Elon Musk said Tesla is “most likely” to start accepting it as payment again. The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases. It had cited concerns over the environmental impact of Bitcoin mining which uses huge amounts of electricity. That move […]

The Committee on Public Accounts has prayed the House of Representatives to issue warrants of arrest on Governor of the Central Bank of Nigeria, Godwin Emefiele; Group Managing Director of the Nigerian National Petroleum Corporation, Melee Kyari; Sole Administrator of the Niger Delta Development Commission, Effiong Akwa; Chairman of the Revenue Mobilisation Allocation and Fiscal […]

Power generation in Nigeria dropped below the 4,000 megawatts mark amid the Eid-el-Kabir celebration. The total generation in the country stood at 3,958.7MW as of 6am on Tuesday, down from 4,270.7MW on Monday, according to data obtained from the Nigerian Electricity System Operator. On Monday, the peak generation stood at 4,611MW, while the lowest generation […]

Petrol price’ll rise to N1,000 per litre if… —DPR The Department of Petroleum Resources says the pump price of petrol in Nigeria may rise up to as much as N1000 per litre when the petrol subsidy regime comes to an end without an alternative energy source.DPR Director, Sarki Auwalu, stated this while responding to questions […]

The Organisation of Petroleum Exporting Countries (OPEC) has increased Nigeria’s crude oil production output to 1,829,000 barrel per day from April 2022 to May 2022. Nigeria’s June quota was 1.554mb/d. The increase is coming on the heels of the organisation’s decision to raise its output by 0.4million barrel /day on a monthly basis from August […]

Oil producing nations have agreed to increase their output, with the aim of reducing prices and easing pressure on the world economy. The Opec cartel and partners such as Russia will boost supply from August after prices climbed to two-and-half-year highs during the pandemic. The move should have an impact on petrol prices at the […]

The Trade Union Congress of Nigeria (TUC) has condemned the plan to limit fuel imports to few operators in the oil and gas industry. It said this was monopolistic and aimed at frustrating the gains of Petroleum Industry Bill (PIB). The union  urged that the market should be left open, if the government wanted to […]

The US has issued a warning to firms over the risks of doing business in Hong Kong after China imposed a new national security law there last year. A new business advisory tells multinational firms that they are subject to the laws and that their people could be arrested under them. Other risks may include […]


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