Business & Economy

Additionally, the ministry has the highest rate of abandoned projects, with a 25.81 per cent abandonment rate. The rate of ongoing projects stands at 12.90 per cent.

The latest data shows that as of September 2024, Nigeria's total public debt reached N142 trillion. Of this amount, external debt accounted for N68.8 trillion, while domestic debt totaled N73.4 trillion.

The association emphasised that the additional revenue from the tariff adjustments would be reinvested to enhance network quality, expand access, and deliver a better experience for consumers.

Joseph Irikefe The Nigerian National Petroleum Company Limited (NNPCL) has come under fire following revelations by the Auditor-General of the Federation of financial irregularities amounting to N2.68 trillion and…

Microsoft is planning to invest about $80 billion in fiscal 2025 on developing data centers to train artificial intelligence (AI) models and deploy AI and cloud-based applications, the company said in a blog post on Friday.…

Maureen Aguta The Standards Organisation of Nigeria (SON) has appointed Mrs. Talatu Ethan as its new Director, Public Relations. A Bachelor of Science degree holder in Microbiology of the Ahmadu Bello University,…

Joseph Irikefe   Swiss cement maker Holcim is set to exit Nigeria over unfavourable economic conditions under the Bola Tinubu administration. The company, which owned an 84 per cent stake in Lafarge Africa, disclosed on…

Joseph Irikefe President Michael Higgins of Ireland says Nigeria and the rest of Sub-Saharan Africa is likely to pay $163 billion in 2024 in debt service, up from $61 billion recorded in 2010. A statement by the…

Maureen Aguta Nigeria’s economic crisis which sent most multinational companies out of the country, has taken toll on the telecom sector as MTN Nigeria Plc net losses grew by more than 3335 per cent year on year to…

Maureen Aguta The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has disclosed that the Federal Government would impose 15 per cent Value Added Tax (VAT) on luxury goods, adding that…