Economy

Streaming giant, Netflix, has recorded a staggering loss of 970,000 subscribers in the second quarter of 2022. The company lost about 200,000 subscribers in the first quarter of 2022, the highest in over a decade. Netflix believes that factors hampering its growth include the time it is taking for homes …

As part of efforts to boost the capacity of Nigerians to work in the oil and gas industry, the Petroleum Technology Development Fund (PTDF) has shortlisted 8,800 candidates from over 26,000 applicants for this year’s Overseas Scholarship Scheme, OSS. The PTDF OSS is an annual programme that awards scholarships to …

The Federal Government approved tax reliefs for tech startups to enable the implementation of strategies to encourage and support the development and growth of more Innovation-Driven Enterprises. The Minister of Communications and Digital Economy, Isa Ali Pantami, said this in a statement Sunday by his technical assistant, Femi Adeluyi. Pantami …

The dollar exchanged at N600 on Monday at the parallel market, heightening fears of a further devaluation of the nation’s currency. The rate at the Importers and Exporters Window was, however, N415.75 on Monday, widening the exchange rate spread to N184.25. At Zone 4 in Abuja, which is the hub …

The Independent Petroleum Marketers Association of Nigeria has asked Nigerians to prepare for the worst fuel crisis. To avoid this, the petrol marketers association asked the Federal Government to prevail on the Nigerian Midstream and Downstream Petroleum Regulatory Authority to pay its members their outstanding bridging claims amounting to over …

The International Monetary Fund (IMF), yesterday, handed a mixed scorecard about Africa’s near-term economic outlook, saying there is limited or nonexistent fiscal space to maneuver the “new shock” triggered by the Ukraine war. The position was contained in the April Regional Economic Outlook with the tagline ‘a new shock and …

The price of Liquefied Petroleum Gas, LPG, otherwise known as cooking gas, has risen by 25.7 per cent in the last three weeks as 12.5kg now sells at N8,800 from N7000. Findings reveal that one Kg rose by 11 per cent to N1000 from N900, 3kg rose by 10 per …

Nigeria exported crude oil worth N774.5 billion or ($1.86 billion) in the fourth quarter of 2021 to India, latest data from Nigeria Bureau of Statistics, NBS, has indicated. Crude oil was followed by exports of liquefied natural gas at N89.8 billion and liquefied petroleum gas otherwise known as cooking gas …

Aggrieved customers petition banks over N546bn wrong charges, others No fewer than 2,256 depositors have lodged complaints on transactions totalling N368.9bn and $428.7m (N177.05bn) on their accounts against their banks with the Chartered Institute of Bankers of Nigeria. The institute, through its ethic and governance directorate, however, said it had …

Former Minister of Niger Delta Affairs, Usani Usani has expressed fears over the heavy debt profile of his home state, Cross River, warning that it is affecting the economic growth and investment of the state. He said the state has lots of potentials that can be harnessed to make it …