Building a tech startup is the “new cool.” Well, it’s been this way for over a decade but gained peak acceptance in recent years. Raising millions of dollars only became popular in 2021, and the fintech wave is the youngest trend. Before fintech, e-commerce was the darling of investors. And since 2021, investors became more …
The increasing popularity of made-in-Nigeria products is a major trend that is driving the growth of the Nigerian leather industry. Consumers home and abroad are increasingly looking for products that are made in Nigeria. This is due to several factors, including the desire to support local businesses, and an increasing number of Nigerian companies producing …
During his inaugural speech, the new Nigerian president, Bola Tinubu, announced the removal of the controversial fuel subsidy. With the announcement, the cost of premium motor spirits (petrol) spiked with some filing stations selling as much as N700 per litre. The attendant impact was immediately evident in the transportation sector, which heavily relies on fuel …
Have you ever stopped to consider how data analytics can better help solve your everyday treasury problems? In recent years, the increasing complexities of regulatory compliance, data spread across multiple systems, pressing issues around asset and liability management, liquidity and risk management, cash flow forecasting have made it more challenging for treasurers to harness reliable …
Currently, many people living in Nigeria can relate to the hit song, “it must have been love by Roxette.” The song’s lyrics, It must have been love, but it’s over now. It was all that I wanted, now I’m living without, aligns with their feelings since the announcement of the fuel subsidy removal last week. Over the …
…as GIZ/DTC Nigeria holds Techmybiz pitch-a-thon L-R: Olusegun Alimi; Weyinmi Smith; Bashira Hassan all of GIZ; Markus Wauschkuhn, coordinator of the Sustainable Economic Development Cluster of GIZ Nigeria; Onesi Lawani; Inuwa Kashifu Abdullahi, DG of NITDA; Thuweba Diwani, head of the Digital Transformation Center Nigeria; Bunmi Kole-Dawodu, Lagos State manager, SMEDAN; Gbekeloluwa Oshinowo, and Emmanuel …
Africa has some of the world’s most significant, yet, untapped resources such as solar, hydraulic and geothermal energy. While some of these resources are scattered across the continent, most are found in huge deposits around the Northern, Southern and Eastern regions. According to comments by Makhtar Diop, Managing Director, IFC, in the recently concluded Africa …
Nigeria’s extractive industry, focusing on oil, gas, and minerals, positions the country as Africa’s top oil producer and the 12th largest globally. It boasts significant natural gas reserves as well. This sector plays a vital role in Nigeria’s economy, contributing over 65 percent of government revenue and more than 85 percent of total exports. However, …
The Central Bank of Nigeria (CBN)’s slashing of Cash Reserve Ratio (CRR) of Merchant banks, means money for the real sector of the economy to create jobs. The CBN on Friday revised the CRR of Merchant banks to 10 percent from 32.5 percent, and this takes effect August 1, 2023. Haruna Mustafa, director, banking supervision …
The federal government’s move to tax the informal sector could worsen the burden of small business owners and heighten poverty and hardships facing Nigerians, economic experts have said. The federal government, through the Federal Inland Revenue Service (FIRS), recently disclosed plans to implement the VAT Direct Initiative, which is aimed at enabling the government to …