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Nigerian DisCos earn N761.2 billion in revenue in 2021, with 4.8 million metered users.

The revenue from Nigeria’s electricity distribution businesses (DisCos) totaled N761.2 billion in 2021, up 44.5 percent from the N526.8 billion reported the year before. Data recently issued by the National Bureau of Statistics support this (NBS). The cost of electricity increased from 22,042.28 Gigawatt hours (Gwh) in 2020 to 23,360.59 Gwh in 2021, a 5.98 […]

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Commercial bank lending to the private sector rises to a record high of N26.8 trillion, with the manufacturing sector leading.

As of June 2022, Nigerian banks had lent N26.8 trillion to the private sector, the most ever. According to preliminary data from the Central Bank of Nigeria, this is the case. Commercial banks, also known as deposit money banks, lent a total of N26.8 trillion to the private sector as of June 2022, an increase […]

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Generous Debtors – Nigeria aids Niger republic in their fight for insecurity with latest SUV’s

Social media has gone agog following the recent release of documents by investigative journalist, David Hundeyin. These documents that he tweeted show that the president, Muhammadu Buhari, had approved about 10 Toyota Land Cruiser Vehicles to be given to the Republic of Niger. The minister of finance has also confirmed that indeed, Nigeria through the […]

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Oui Capital’s plans for its new $30 million

The Oui Capital Mentors Fund II, the second fund from Oui Capital, launched today. The Africa-focused VC firm wants to increase its footprint in the African tech ecosystem.  Oui Capital’s portfolio currently backs 18 companies, in line with its mission to support African tech entrepreneurs who are building for the continent. But according to Oyinsan, there […]

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Trust Television receives a N5 million fine from NBC for a banditry documentary.

Trust Television receives a N5 million fine from NBC for a banditry documentary. Trust Television Network (Trust TV), a division of Media Trust Limited, has been fined N5 million by the National Broadcasting Commission (NBC) for airing the documentary “Nigeria’s Banditry: The Inside Story,” which was broadcast by the channel on March 5, 2022. This […]

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Can Business Payments in Africa be Digitized?

Products and services becoming digitalized has taken centre stage in Africa. In that light, we’ve recorded significant progress but we however cannot say the same for business processes. Processes like payment options may be experiencing a slower progress rate on the other hand. Entrepreneurs and investors especially in the fintech world have shifted their priorities […]

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Naira is crashing due to panic buying of dollars – ABCON

A lot of things have stayed inconsistent when it comes to the Nigerian economy. However, the fall of the naira has stayed consistent right from when it became a dollar to a naira. The naira has come from a place of supremacy in comparison with the dollar and it has been disturbing watching this currency […]

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NITDA bill regulating taxation of Nigerian tech companies under review by FEC

NITDA bill regulating taxation of Nigerian tech companies under review by FEC The National Information Technology Development Agency (NITDA), is seeking to regulate the tech world yet again. This is stemming from the birth of a bill that puts its regulatory Act in abeyance and enacts an entirely new bill. This week, the Federal Executive […]

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