Here is a list of top 10 business news:
1. FG to install N3bn power substation in Kwara
The Federal Government has commenced steps to install $8m (about N3bn) 1x60MVA, 132/33KV transmission sub-station in Oro in the Irepodun Local Government Area of Kwara State.
Source: https://punchng.com/fg-to-install-n3bn-power-substation-in-kwara/
2. Investors seek Sanwo-Olu’s intervention in land allocation
Land allottees under the aegis of the Orisan Waterfront Residential Scheme have called on the governor of Lagos State to allocate land to those who had completed payment in the housing scheme.
Source: https://punchng.com/investors-seek-sanwo-olus-intervention-in-land-allocation/
3. Two African banks stake $16 billion in oil, gas projects
The African Export Import Bank (Afreximbank) and the African Financing Corporation are investing over $16 billion in oil and gas projects throughout Africa (AFC).
4. At 21.91%, inflation sets new high amid currency crisis
Nigeria’s headline inflation rate has hit 21.91%, a level unseen in decades, despite declining buying power, declining aggregate demand, and other indications that show decreased consumption and slow corporate activity.
Source: https://guardian.ng/news/at-21-91-inflation-sets-new-high-amid-currency-crisis/
5. Expert advocates specialised resources for women-owned businesses
The need for an enabling environment where women entrepreneurs can secure funding and investment was advocated at the 2023 edition of Wintrade Global Summit held at the London Stock Exchange, London UK, recently.
6. Banks, without collaboration, cannot solely fund the real sector, says Opara
Dr. Ken Opara is the President/Chairman of the Council of the Chartered Institute of Bankers of Nigeria (CIBN) and an executive director with Fidelity Bank Plc. Opara articulated more about his upbringing, vision and plans for CIBN and the banking sector in this interview with GEOFF IYATSE.
7. Weak disposable income, high inflation threaten FG’s N3tr micro pension target
Falling disposable incomes may have thrown a spanner into the Federal Government’s plan to mobilise N3 trillion from the informal sector under its Micro Pension Plan (MPP) by 2024.
8. How biometrics can fuel inclusive growth in Nigeria’s ICT sector
To deepen Nigeria’s information and communications technology (ICT) sector, the country will need to adopt enabling technologies at scale to support high growth in the telecommunication and digital sectors.
9. MTN to merge two finance subsidiaries
Telecommunications company, MTN
Nigeria, has proposed a merger of its two finance subsidiaries; Momo Payment Service Bank Limited and Yello Digital Financial Services Limited
Source: https://punchng.com/mtn-to-merge-two-finance-subsidiaries/
10. Naira, fuel scarcity will push 24.8m Nigerians into crisis – Report
No fewer than 28.4 million Nigerians in 26 states and the Federal Capital Territory, including 18,000 Internally Displaced Persons, are projected to face severe crises between June and August this year due to the scarcity of fuel and naira, the latest report by Cadre Harmonise, stated.
Source: https://punchng.com/naira-fuel-scarcity-will-push-24-8m-nigerians-into-crisis-report/
