Eko Hot Blog reports that President Bola Tinubu has allayed the concerns of the business community, assuring them that crucial plans are underway to improve foreign exchange liquidity. The President said his administration will honour every legitimate contract with respect to the nation’s foreign exchange obligations. Speaking at the 29th Nigerian Economic Summit (NES) in … Read more
Eko Hot Blog reports that the Fidelity International Trade and Creative Connect (FITCC) organised by Fidelity Bank Plc is set to hold in Houston, Texas, in the United States (US). The second edition of the international expo, which is tagged “FITCC Houston,” will take place from the 24th to 25th of October, 2023, at the … Read more
Eko Hot Blog reports that the Federal Government has reacted to speculations that it has restarted paying fuel subsidy which President Bola Tinubu said was gone. The Group Managing Director of the Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari, who met with the president on Monday at the Presidential Villa, denied allegations making the … Read more
EKo Hot Blog reports that The Federal Government has initiated investigations into the activities of Meta, the parent company of Facebook, WhatsApp, and Instagram, along with DHL, a logistics firm, and the online payment platform OPay. These inquiries follow numerous complaints by Nigerians regarding violations of data subjects’ rights. The Nigeria Data Protection Commission (NDPC) … Read more
Eko Hot Blog reports that Guinness Nigeria Plc has revealed its intention to cease importing and selling Diageo products such as Johnnie Walker and Baileys by April 2024, a move that will account for six percent of the company’s overall revenue, according to a statement released on Thursday to the Nigerian Exchange Limited (NGX). The … Read more
Eko Hot Blog reports that according to the “Hotel Chain Development Pipeline Africa” report by the W Hospitality Group, West Africa leads in pipeline activity with 20,624 rooms, constituting 46% of the regional total. East Africa follows closely with 29%. Notably, the top 10 rankings include six sub-Saharan African countries, collectively accounting for 54% of … Read more
Eko Hot Blog reports that Ambassador Adeshola Helen Onadipe, President of the African-Arab Women Chamber of Commerce, has urged Nigerians and other Africans to take advantage of the investment opportunities that exist in the United Arab Emirates (UAE). She made the statement at the chamber’s inaugural business summit recently held in Lagos State. EDITOR’S PICKS … Read more
Eko Hot Blog reports that the NNPC Ltd and the Nigerian Content Development & Monitoring Board (NCDMB) have signed a Memorandum of Understanding with the International Oil Companies (IOCs) to reduce contracting cycle to an optimal level of not more than 180 working days. The MoU, which was executed on Monday at the NNPC Towers … Read more
Eko Hot Blog reports that President Bola Tinubu, on Wednesday, paid a historic visit to the National Association of Securities Dealers Automated Quotations (NASDAQ) in New York, United States (US), where he rang the closing bell. He spent 9 minutes at the stock exchange market before he rang the closing bell. The Nigerian leader, who … Read more
Eko Hot Blog reports that The Revenue Mobilisation Allocation And Fiscal Commission (RMAFC) says a total of N5,244,037,636,561.60 has accrued into the Federation Account for the period between January and June 2023. The figure was captured in the monthly report to the Federation Account Allocation Committee (FAAC) by the Central Bank of Nigeria (CBN) under … Read more
Eko Hot Blog reports that President Bola Tinubu met with a delegation of global energy giant ExxonMobil in New York on Tuesday, where he said that “Nigeria has never been more ready for business than it is now.” EDITOR’S PICKS Ogun Records Cholera Outbreak, Warns Residents Mohbad’s Mother Insists Son Was Killed, Says He Lived … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Corporation Limited (NNPCL) and Indorama Eleme Petrochemicals Limited have signed a Memorandum of Understanding (MOU) to explore and develop suitable opportunities within the remits of both parties’ interests across the hydrocarbon value chain in Nigeria. According to a statement issued by the NNPC spokesperson, Garba Deen … Read more
Eko Hot Blog reports that BUA Cement Plc has announced plans to reduce the price of cement in Nigeria from the current N5,500 to between N3,000 and N3,500. The company’s Chairman, Abdul Samad Rabiu, disclosed this to journalists after an audience with President Bola Tinubu at the State House, Abuja. Rabiu said the price crash … Read more
Eko Hot Blog reports that Lagos State Governor, Babajide Sanwo-Olu, has congratulated Dr. Yemi Cardoso, a former Commissioner for Economic Planning and Budget in Lagos, on his nomination as the new governor of the Central Bank of Nigeria (CBN). His congratulatory message was contained in a statement he posted on his X account on Friday. … Read more
Eko Hot Blog reports that BUA Cement, one of Nigeria’s leading cement manufacturers, is set to reduce the price of its product following a meeting with President Bola Tinubu on Friday. Editor’s Picks International Rescue Committee Calls For Urgent Global Aid For Libya Derna Deputy Mayor: Infrastructure Not Built To Withstand Devastating Floods Hope In … Read more
Eko Hot Blog reports that Nigeria’s inflation rate increased to 25.80% in August 2023 relative to the July 2023 headline inflation rate which was 24.08%. The August 2023 headline inflation rate shows an increase of 1.72% points when compared to the July 2023 headline inflation rate. EDITOR’S PICKS Here Are Alternative Routes As Third Mainland … Read more
Eko Hot Blog reports that the Minister of Power, Adebayo Adelabu, has explained reasons for the total system collapse of the national grid. In a series of posts on X, formerly known as Twitter, on Thursday, Adelabu said the grid’s collapse was caused by a fire outbreak on the Kainji/Jebba 330 kilovolt (kV) line. EDITOR’S … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has disowned plans to introduce a new naira policy that will crash the dollar exchange rate to N1.25 kobo. A report circulating online on Wednesday had claimed that the apex bank was mulling a new FX policy. EDITOR’S PICKS ‘Promise Fulfilled’ — Hakeem Shittu … Read more
Eko Hot Blog reports that the Coordinator of the Ogun Guangdong Free Trade Zone, Dr. Abbey Onas, has met with the Polish Ambassador to Nigeria, Joanna Tarnawska, promising to strengthen ties with the European nation. In a recent engagement, Onas appreciated the Polish diplomat for believing in Nigeria’s potential for growth and making effort to … Read more
Eko Hot Blog reports that President Bola Tinubu’s trip to the G-20 Summit in India has concluded with the Nigerian leader meeting the leaders of some major countries to discuss economic development-related matters. In a statement on Sunday, the president’s spokesperson, Ajuri Ngelale, said that the countries, which include Germany, South Korea, and India, have … Read more