Sanwo-Olu to Lead Lagos Delegation to 2025 FNITCC Atlanta Governor Sanwo-Olu will leverage the FNITCC platform to spotlight Lagos as Africa’s largest economy Other highlights include exhibitions showcasing African goods and services Leading financial institution, Fidelity Bank Plc, has announced that Lagos State Governor, Mr. Babajide Sanwo-Olu, will lead the state’s delegation to the 2025 … Read more
Petrol stations across the South West may go dark from Monday as the Independent Petroleum Marketers Association of Nigeria (IPMAN), Western Zone, has vowed to shut operations in protest of what it calls an attempt to “monopolise” the downstream petroleum sector. The decision, reached at a zonal council meeting on Saturday, comes just as Dangote … Read more
AfDB Discuss Banks zplan for 2025 The Programme is expected to target 7 states The African Development Bank (AfDB) has announced a $2.2 billion funding package to develop Special Agro-Industrial Processing Zones (SAPZ) across Nigeria, aimed at transforming the nation’s agriculture sector and addressing food insecurity. Eko Hot Blog reports that Abdul Kamara, the Director … Read more
Polaris Bank Aims to Support 50,000 Students by 2028 Polaris Bank Distributes school essentials to 1,000 students across 10 public schools in 5 states Polaris Bank has strengthened its commitment to addressing the alarming rate of out-of-school children in Nigeria through strategic partnerships and targeted interventions. Eko Hot Blog gathered that by joining forces with … Read more
World Bank Loan Application Nigeria Receives 1.5billion Loan The Loan is Meant to Support Fuel Subsidy Removal and Tax System The World Bank has given Nigeria a $1.5 billion loan to support the government’s efforts in removing fuel subsidies and reforming the tax system. This loan is part of the “Reforms for Economic Stabilisation to … Read more
Afrinvest projects Naira at N1,804 per dollar by 2025 due to FX volatility. CBN faces challenges in meeting foreign exchange demand. EFEMS introduces relative stability amid Naira fluctuation The Nigerian Naira is expected to depreciate to a fair value of N1,804 per dollar in the official market by 2025, according to a recent Afrinvest report … Read more
FCMB SheVentures Mentoring Programme supports women entrepreneurs with financial solutions SheVentures Currently on 11th Cohort Five Key Areas Outlined during the session The FCMB SheVentures Mentoring Programme, in partnership with NECA’s Network of Entrepreneurial Women, recently celebrated the virtual graduation of 215 women entrepreneurs. Eko Hot Blog gathered that this achievement marks the completion of … Read more
Price adjustment begins from January 27,2025 – Starlink Starlink launched its services in Nigeria in December 2022 Starlink lauded for extending internet access to remote areas Starlink, the satellite internet service owned by Elon Musk’s SpaceX, has announced a new round of subscription price increases for its Nigerian market. Eko Hot Blog gathered that the … Read more
Naira Strengthens to N1,534/$ Post-Christmas Holiday Parallel Market: Naira Closes at N1,650/$ on Friday FX Turnover Hits N23.95 Trillion in November The Nigerian naira appreciated against the US dollar in the foreign exchange market following the resumption of work after the Christmas holidays. According to FMDQ data, the naira strengthened to N1,534 per dollar on … Read more
Sterling HoldCo moves ahead in recapitalisation Cements capital raise with full regulatory approval Sterling HoldCo witnessed a 19% surge in stock price Sterling Financial Holdings Company PLC has made substantial progress in its recapitalisation efforts, with the Central Bank of Nigeria (CBN) approving an additional ₦75 billion capital raise. Eko Hot Blog gathered that this … Read more
NCC approves expansion of spectrums to cover 17 states The initial partnership between MTN Nigeria and NTEL began in 2023 NCC approves renewal of spectrum lease agreement between MTN Nigeria and NATCOM The Nigerian Communications Commission (NCC) has approved the renewal of a spectrum lease agreement between MTN Nigeria Communications Plc and Natcom Development and … Read more
Over 60 participants, including aviation reporters and FAAN staff, attended the workshop The workshop, titled; “Reporting Aviation and Airports,” Omeri commended FAAN’s Managing Director, Olubunmi Kuku, for her commitment to improving Nigerian airports The Federal Airports Authority of Nigeria (FAAN) recently held a one-day workshop in Lagos aimed at enhancing the knowledge of public relations … Read more
NCC Outline New Operational Guidelines For USSD Services CBN and NCC lnstructs banks to Settle 85% of all Outstanding Invoices by December 31 Telecom operators threatening to suspend USSD The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have issued a final directive to resolve the long-standing N250 billion Unstructured Supplementary Service … Read more
LASWARCO seal Peak Milk, Coca-Cola, Guinness Factories Due to Enforcement Measure Despite Engaging These Companies in The Last 7 years, None has Complied The Lagos State Water Regulatory Commission (LASWARCO) has taken decisive action against three major companies – Nigerian Bottling Company (producers of Coca-Cola), FrieslandCampina (makers of Peak Milk), and Guinness Nigeria Plc – … Read more
Forbes’ 2009 Billionaires list highlighted the wealth of Black Americans, featuring Oprah Winfrey as the sole billionaire with $2.7 billion. Other notable figures included Robert Johnson of BET ($550 million), Michael Jordan ($525 million), and Magic Johnson ($500 million). EDITOR’S PICKS Sanwo-Olu Donates N75M to Support Legionnaires and Families of Fallen Heroes Current Cement Prices: … Read more
The naira appreciated by N135 against the dollar, closing at N1,640 in the parallel market on Monday. In the official market, the naira strengthened to N1,539.55 from N1,541.68. The currency gains coincide with the Nigerian government’s announcement of a three-day public holiday for Christmas and New Year. The naira saw a significant appreciation against the … Read more
Ardogreen Energy, HSI Energies sign agreement Idigbe Says The Transaction Supports President Tinubu’s One-Million-Barrel Project To Increase Production Ardogreen Energy Limited, a subsidiary of Messrs Ardova Plc. and Petrodev Oil and Gas Limited, has entered into a Risk Service Agreement with Messrs HSI Energies Limited for the development of the Olua Field on Petroleum Prospecting … Read more
A group of energy advocates and socio-economic activists has condemned the collapse of the Port Harcourt Refining Company, just weeks after the Nigerian National Petroleum Company Limited (NNPCL) claimed it had been restreamed. Eko Hot Blog reports that the Energy Reforms Advocates and Socio-Economic Activists, led by Dr. Thomas Zion Godknows, at a press conference … Read more
The Kano State Government has announced its intention to prosecute all tax defaulters in 2025 as part of a comprehensive reform in tax administration. Eko Hot Blog reports that Zaid Abubakar, the Executive Chairman of Kano State Internal Revenue Service, made this declaration during a presentation at a retreat for top government officials. EDITOR’S PICK … Read more
The naira declined against the dollar in both the official and parallel foreign exchange markets, closing the week with a downward trend. According to FMDQ data, the naira slightly weakened to N1,541.68 per dollar on Friday, compared to N1,541.38 on Thursday, reflecting a loss of N0.3. EDITOR’S PICKS Sanwo-Olu Donates N75M to Support Legionnaires and … Read more