Aghogho Udi, Author at Nairametrics Destination for Business news and analysis from Africa's largest economy Fri, 14 Jun 2024 11:41:38 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Aghogho Udi, Author at Nairametrics 32 32 201037849 Ghana’s electricity company announces three weeks power cut due to shortage gas supply from Nigeria https://nairametrics.com/2024/06/14/ghanas-electricity-company-announces-three-weeks-power-cut-due-to-shortage-gas-supply-from-nigeria/ https://nairametrics.com/2024/06/14/ghanas-electricity-company-announces-three-weeks-power-cut-due-to-shortage-gas-supply-from-nigeria/#respond Fri, 14 Jun 2024 11:41:38 +0000 https://nairametrics.com/?p=491265 Ghana's state-owned electricity company has announced a three-week power interruption due to reduced gas supply from Nigeria.

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]]> https://nairametrics.com/2024/06/14/ghanas-electricity-company-announces-three-weeks-power-cut-due-to-shortage-gas-supply-from-nigeria/feed/ 0 491265 Abia Assembly threatens to cancel deal with Innoson Motors over breach of contract https://nairametrics.com/2024/06/14/abia-assembly-threatens-to-cancel-deal-with-innoson-motors-over-breach-of-contract/ https://nairametrics.com/2024/06/14/abia-assembly-threatens-to-cancel-deal-with-innoson-motors-over-breach-of-contract/#respond Fri, 14 Jun 2024 09:45:32 +0000 https://nairametrics.com/?p=491251 The Abia House of Assembly has threatened to terminate its contract with Innoson Vehicles Manufacturing Ltd for allegedly failing to fulfill its agreement to produce vehicles for all the lawmakers.

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]]> https://nairametrics.com/2024/06/14/abia-assembly-threatens-to-cancel-deal-with-innoson-motors-over-breach-of-contract/feed/ 0 491251 Abuja Disco adds 45 new feeders to Band A majorly in Asokoro, Wuye, Garki, Suleja  https://nairametrics.com/2024/06/13/abuja-disco-adds-45-new-feeders-to-band-a-majorly-in-asokoro-wuye-garki-suleja/ https://nairametrics.com/2024/06/13/abuja-disco-adds-45-new-feeders-to-band-a-majorly-in-asokoro-wuye-garki-suleja/#respond Thu, 13 Jun 2024 17:08:30 +0000 https://nairametrics.com/?p=491200 The Abuja Electricity Distribution Company, (AEDC) has disclosed it has added 45 new feeders to the Band A category of customers who would enjoy a minimum of 20 hours of electricity as stipulated by the Nigerian Electricity Regulatory Commission (NERC).  

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]]> https://nairametrics.com/2024/06/13/abuja-disco-adds-45-new-feeders-to-band-a-majorly-in-asokoro-wuye-garki-suleja/feed/ 0 491200 Terra Aqua secures $10m “climate finance” from TLG capital, Wema Bank for aluminum recycling plant in Ogun state https://nairametrics.com/2024/06/13/terra-aqua-secures-10m-climate-finance-from-tlg-capital-wema-bank-for-aluminum-recycling-plant-in-ogun-state/ https://nairametrics.com/2024/06/13/terra-aqua-secures-10m-climate-finance-from-tlg-capital-wema-bank-for-aluminum-recycling-plant-in-ogun-state/#respond Thu, 13 Jun 2024 15:25:08 +0000 https://nairametrics.com/?p=491194 TLG Capital, a leading alternative investment firm, has announced a US$ 10 million structured private credit facility designated for climate financing for one of Nigeria’s largest aluminum recyclers.

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]]> https://nairametrics.com/2024/06/13/terra-aqua-secures-10m-climate-finance-from-tlg-capital-wema-bank-for-aluminum-recycling-plant-in-ogun-state/feed/ 0 491194 Dangote to venture into steel production, targets meeting demand in West Africa https://nairametrics.com/2024/06/13/dangote-to-venture-into-steel-production-targets-meeting-demand-in-west-africa/ https://nairametrics.com/2024/06/13/dangote-to-venture-into-steel-production-targets-meeting-demand-in-west-africa/#comments Thu, 13 Jun 2024 11:23:59 +0000 https://nairametrics.com/?p=491180 Alhaji Aliko Dangote has mooted plans to delve into steel production in the near future stating that he wants to ensure that every steel used in West Africa comes from Nigeria.

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]]> https://nairametrics.com/2024/06/13/dangote-to-venture-into-steel-production-targets-meeting-demand-in-west-africa/feed/ 2 491180 Nigeria’s crude oil production in May falls to 1.25 million bpd – OPEC  https://nairametrics.com/2024/06/13/nigerias-crude-oil-production-in-may-falls-to-1-25-million-bpd-opec/ https://nairametrics.com/2024/06/13/nigerias-crude-oil-production-in-may-falls-to-1-25-million-bpd-opec/#respond Thu, 13 Jun 2024 04:56:28 +0000 https://nairametrics.com/?p=491153 Nigeria’s average crude oil production in May fell to 1.25 million barrels daily in May from 1.28 million bpd recorded in April 2024.

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]]> https://nairametrics.com/2024/06/13/nigerias-crude-oil-production-in-may-falls-to-1-25-million-bpd-opec/feed/ 0 491153 Monetary policy tightening by CBN may not control Nigeria’s inflation – World Bank  https://nairametrics.com/2024/06/12/monetary-policy-tightening-by-cbn-may-not-control-nigerias-inflation-world-bank/ https://nairametrics.com/2024/06/12/monetary-policy-tightening-by-cbn-may-not-control-nigerias-inflation-world-bank/#respond Wed, 12 Jun 2024 17:27:39 +0000 https://nairametrics.com/?p=491147 The World Bank has stated that monetary policy tightening by the Central Bank of Nigeria (CBN) may not rein in inflation as anticipated by analysts.  

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]]> https://nairametrics.com/2024/06/12/monetary-policy-tightening-by-cbn-may-not-control-nigerias-inflation-world-bank/feed/ 0 491147 The 2024 oil block bid round is meant for investors with financial capacity- NUPRC  https://nairametrics.com/2024/06/12/the-2024-oil-block-bid-round-is-meant-for-investors-with-financial-capacity-nuprc/ https://nairametrics.com/2024/06/12/the-2024-oil-block-bid-round-is-meant-for-investors-with-financial-capacity-nuprc/#respond Wed, 12 Jun 2024 06:31:13 +0000 https://nairametrics.com/?p=491116 The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe has stated that the current oil block bid for 2024 is meant for investors with financial capacity and technical competence.  

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]]> https://nairametrics.com/2024/06/12/the-2024-oil-block-bid-round-is-meant-for-investors-with-financial-capacity-nuprc/feed/ 0 491116 CIT collection in Q1 declines by 12.87% to N984.61 billion- NBS https://nairametrics.com/2024/06/11/cit-collection-in-q1-declines-by-12-87-to-n984-61-billion-nbs/ https://nairametrics.com/2024/06/11/cit-collection-in-q1-declines-by-12-87-to-n984-61-billion-nbs/#respond Tue, 11 Jun 2024 16:59:03 +0000 https://nairametrics.com/?p=491087 Company Income Tax (CIT) collection in the first three months declined by 12.87% from N1.13 trillion recorded in Q4, 2023 to N984.61 billion.

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]]> https://nairametrics.com/2024/06/11/cit-collection-in-q1-declines-by-12-87-to-n984-61-billion-nbs/feed/ 0 491087 FIRS VAT collection rises by 19.21% to N1.43 trillion in Q1- NBS https://nairametrics.com/2024/06/11/firs-vat-collection-rises-by-19-21-to-n1-43-trillion-in-q1-nbs/ https://nairametrics.com/2024/06/11/firs-vat-collection-rises-by-19-21-to-n1-43-trillion-in-q1-nbs/#respond Tue, 11 Jun 2024 13:25:57 +0000 https://nairametrics.com/?p=491076 In the first quarter of 2024, Value Added Tax (VAT) paid by Nigerians increased from N1.20 trillion in Q4, 2023 to N1.43 trillion in the first three months of 2024. This represents an increase of 19.21% when compared quarter-on-quarter.

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]]> https://nairametrics.com/2024/06/11/firs-vat-collection-rises-by-19-21-to-n1-43-trillion-in-q1-nbs/feed/ 0 491076 Tolaram to acquire majority shares in Guinness Nigeria as Diageo exits  https://nairametrics.com/2024/06/11/tolaram-to-acquire-majority-shares-in-guinness-nigeria-as-diageo-exits/ https://nairametrics.com/2024/06/11/tolaram-to-acquire-majority-shares-in-guinness-nigeria-as-diageo-exits/#respond Tue, 11 Jun 2024 10:39:36 +0000 https://nairametrics.com/?p=491059 In a landmark deal set to reshape Nigeria's beverage market, Tolaram has agreed to acquire Diageo's 58.02% shareholding in Guinness Nigeria Plc. Guinness made this announcement via a press release on the NGX. 

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]]> https://nairametrics.com/2024/06/11/tolaram-to-acquire-majority-shares-in-guinness-nigeria-as-diageo-exits/feed/ 0 491059 SMEDAN, Sterling bank launch N5 billion single interest loan for small businesses https://nairametrics.com/2024/06/11/smedan-sterling-bank-launch-n5-billion-single-interest-loan-for-small-businesses/ https://nairametrics.com/2024/06/11/smedan-sterling-bank-launch-n5-billion-single-interest-loan-for-small-businesses/#respond Tue, 11 Jun 2024 06:36:09 +0000 https://nairametrics.com/?p=491037 The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), in partnership with Sterling Bank Ltd., launched a N5 billion initiative called Databanc on Monday to bridge financial gaps for small businesses.

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]]> https://nairametrics.com/2024/06/11/smedan-sterling-bank-launch-n5-billion-single-interest-loan-for-small-businesses/feed/ 0 491037 Eko Disco upgrades feeders in Festac, Falomo, VGC, others to Band A, downgrades others to Band B  https://nairametrics.com/2024/06/10/eko-disco-upgrades-feeders-in-festac-falomo-vgc-others-to-band-a-downgrades-others-to-band-b/ https://nairametrics.com/2024/06/10/eko-disco-upgrades-feeders-in-festac-falomo-vgc-others-to-band-a-downgrades-others-to-band-b/#respond Mon, 10 Jun 2024 18:13:27 +0000 https://nairametrics.com/?p=491017 The Eko Electricity Distribution Company (EKEDC) has announced the upgrade and downgrade of certain locations under its territory from Band B to Band A and vice versa.  

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]]> https://nairametrics.com/2024/06/10/eko-disco-upgrades-feeders-in-festac-falomo-vgc-others-to-band-a-downgrades-others-to-band-b/feed/ 0 491017 NNPC denies report of N3.3 trillion inflated subsidy claims  https://nairametrics.com/2024/06/10/nnpc-denies-report-of-n3-3-trillion-inflated-subsidy-claims/ https://nairametrics.com/2024/06/10/nnpc-denies-report-of-n3-3-trillion-inflated-subsidy-claims/#respond Mon, 10 Jun 2024 16:55:10 +0000 https://nairametrics.com/?p=491015 The Nigerian National Petroleum Corporation Limited (NNPC) has denied reports in the media that it inflated subsidy claims by N3.3 trillion.  

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]]> https://nairametrics.com/2024/06/10/nnpc-denies-report-of-n3-3-trillion-inflated-subsidy-claims/feed/ 0 491015 Bullish cocoa prices push Nigeria’s cocoa earnings by 279% in Q1, 2024 https://nairametrics.com/2024/06/10/bullish-cocoa-prices-push-nigerias-cocoa-earnings-by-279-in-q1-2024/ https://nairametrics.com/2024/06/10/bullish-cocoa-prices-push-nigerias-cocoa-earnings-by-279-in-q1-2024/#respond Mon, 10 Jun 2024 13:09:59 +0000 https://nairametrics.com/?p=490991 Nigeria’s cocoa earnings spiked by 279% in the first quarter of 2024 on the back of elevated cocoa prices during the first quarter of 2024.

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]]> https://nairametrics.com/2024/06/10/bullish-cocoa-prices-push-nigerias-cocoa-earnings-by-279-in-q1-2024/feed/ 0 490991 Top ten export destinations of Nigerian goods in Q1, 2024  https://nairametrics.com/2024/06/10/top-ten-export-destinations-of-nigerian-goods-in-q1-2024/ https://nairametrics.com/2024/06/10/top-ten-export-destinations-of-nigerian-goods-in-q1-2024/#comments Mon, 10 Jun 2024 07:06:25 +0000 https://nairametrics.com/?p=490953 In the first quarter of 2024, Nigeria’s total exports increased by 51% from N12.69 trillion in the preceding quarter (Q4, 2023) to N19.16 trillion. On a year-on-year basis, total exports grew by 195% from N6.48 trillion recorded in Q1, 2023.  

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]]> https://nairametrics.com/2024/06/10/top-ten-export-destinations-of-nigerian-goods-in-q1-2024/feed/ 1 490953 Nigeria’s food and beverage import bill rises by 30% to N1.59 trillion in Q1  https://nairametrics.com/2024/06/09/nigerias-food-and-beverage-import-bill-rises-by-30-to-n1-59-trillion-in-q1/ https://nairametrics.com/2024/06/09/nigerias-food-and-beverage-import-bill-rises-by-30-to-n1-59-trillion-in-q1/#respond Sun, 09 Jun 2024 14:23:19 +0000 https://nairametrics.com/?p=490941 Nigeria’s food and beverage import bill increased by 30% from N 1.21 trillion in the fourth quarter of 2023 to N1.59 trillion in the first three months of 2024.  

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]]> https://nairametrics.com/2024/06/09/nigerias-food-and-beverage-import-bill-rises-by-30-to-n1-59-trillion-in-q1/feed/ 0 490941 Governors’ Forum considers export, import of electricity between states https://nairametrics.com/2024/06/09/governors-forum-considers-export-import-of-electricity-between-states/ https://nairametrics.com/2024/06/09/governors-forum-considers-export-import-of-electricity-between-states/#respond Sun, 09 Jun 2024 10:31:12 +0000 https://nairametrics.com/?p=490930 The Nigerian Governors’ Forum (NGF) is currently considering plans for states to be able to export or import electricity between them or from the National grid

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]]> https://nairametrics.com/2024/06/09/governors-forum-considers-export-import-of-electricity-between-states/feed/ 0 490930 Nigeria, Benin Republic agree on single-entry declaration form for border crossing https://nairametrics.com/2024/06/08/nigeria-benin-republic-agree-on-single-entry-declaration-form-for-border-crossing/ https://nairametrics.com/2024/06/08/nigeria-benin-republic-agree-on-single-entry-declaration-form-for-border-crossing/#respond Sat, 08 Jun 2024 15:18:47 +0000 https://nairametrics.com/?p=490889 The Nigeria Customs Service (NCS) has announced that Nigeria and Benin Republic have reached an agreement to implement a single-entry declaration form for border crossings between the two countries.

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]]> https://nairametrics.com/2024/06/08/nigeria-benin-republic-agree-on-single-entry-declaration-form-for-border-crossing/feed/ 0 490889 FG targets 100% import substitution to drive local manufacturing in the power sector https://nairametrics.com/2024/06/08/fg-targets-100-import-substitution-to-drive-local-manufacturing-in-the-power-sector/ https://nairametrics.com/2024/06/08/fg-targets-100-import-substitution-to-drive-local-manufacturing-in-the-power-sector/#respond Sat, 08 Jun 2024 11:24:00 +0000 https://nairametrics.com/?p=490862 The Minister of Power, Aebayo Adelabu has stated the federal government is targeting 100% import substitution as a measure to drive local manufacturing in the power sector.

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]]> https://nairametrics.com/2024/06/08/fg-targets-100-import-substitution-to-drive-local-manufacturing-in-the-power-sector/feed/ 0 490862