Business Archives - Page 31 of 46

Sep

15

2023

The headline inflation rate in Nigeria rises to 25.80%

Business, Economy, MetroBusiness, Economy, Metro

Inflation in Nigeria went from 24.08 percent in July to 25.80 percent in August. This information was released by the National Bureau of Statistics on Friday in its most recent Consumer Price Index Report for August 2023. In comparison to July 2023, the headline inflation rate in August 2023 increased by 1.72 percent. The headline inflation rate was 5.27% points higher on an annual basis than the rate, which was 20.52% in August 2022. As a result, the graph showed that, on an annual basis, the headline inflation rate rose in August 2023 compared to the same month the year…

Sep

11

2023

By Amos Oge Kalu

After Tinubu’s visit, the UAE lifted its ban on Nigerian travelers seeking visas.

Business, Economy, PoliticsBola Ahmed Tinubu, Economy, Politics, UAE

In Abu Dhabi, President Bola Ahmed Tinubu and President Mohamed bin Zayed Al Nahyan of the United Arab Emirates came to a historic agreement that will immediately lift the restriction on Nigerian travelers obtaining visas. This was revealed in a statement on Monday by Ajuri Ngelale, the Special Advisor to the President on Media and Publicity. The two governments' accord calls for Etihad Airlines and Emirates Airlines to resume their regular flight schedules into and out of Nigeria right away. "This immediate restoration of flying activity through these two airlines and between the two nations does not include any immediate…

Aug

14

2023

By Amos Oge Kalu

Forex: CBN takes action to halt the naira’s wild collapse

Business, Economy, Metro, News2023, Business, CBN, Economy, Metro, Next Level

According to the Central Bank of Nigeria, fresh steps would be taken to stabilize the naira's value relative to the dollar. After meeting President Bola Tinubu on Monday at the State House about the bank's efforts to stop the decline, Folasodun Sonubi, acting governor of the CBN, disclosed the information. According to him, President Tinubu voiced his concern about the effects of recent changes in the foreign exchange market, particularly on regular people. The CBN is aggressively trying to increase market liquidity and stability, including resolving challenges in the parallel market, Sonubi said he promised the President. Sonubi emphasized that…

Aug

09

2023

By Amos Oge Kalu

Abia state to provide land as Hungarian company invests $1.5 million to increase manufacturing

Abia State, Business, Economy, News, PoliticsAbia State, Alex Otti, Business, Economy, Politics

The creation of a manufacturing plant within the state is subject to negotiations with the Hungarian company Ortoprofil, which have been authorized by the governor of Abia State, Alex Otti. According to information obtained by Nairametrics, Ortoprofil intends to invest $1.5 million in the state of Abia to create raw materials, shoes, prosthetics, and other items through a partnership. The Governor's Chief Press Secretary (CPS), Kazie Uko, released a statement on Monday announcing this event. The choice was made during a meeting over the weekend between high-ranking members of the Hungarian government, led by Mr. Gabor Kruss, Deputy Ambassador of…

Jul

28

2023

By Amos Oge Kalu

WEMA Bank Plc introduces its new in-branch self-service product, Phygital.

Business, Economy, SponsoredBusiness, Economy, Wema Bank

Wema Bank Plc, the leading financial institution in innovation and technology has launched Phygital Branch, a self-service platform that combines the best aspects of traditional and digital banking, in all its branches nationwide. YouTube video: “Phygital is the result of Wema Bank’s recognition that a segment of our customers still enjoys the physical experience of traditional banking but without potential hassles such as queues that can diminish the experience.”, announced Mabel Adeteye, Wema Bank’s Head of Brand and Marketing Communications at the launch of the initiative. “Phygital tablets grants our customers the seamless in-branch experience they desire by reducing the…