The Federal Competition and Consumer Protection Commission (FCCPC) has instructed MultiChoice Nigeria, the company behind DStv and GOtv, to suspend its planned subscription price hike. This directive comes as the consumer protection agency continues its investigation into the proposed tariff adjustments by the company. In a statement released on Thursday, the FCCPC emphasized the importance … Read more
The Central Bank of Nigeria (CBN) and its Monetary Policy Committee (MPC) have made strategic decisions to stabilize the naira and curb inflation, marking a pivotal shift in Nigeria’s macroeconomic management. At the 299th MPC meeting on February 19 and 20, 2025, the Committee opted to hold the Monetary Policy Rate (MPR) at 27.5%, demonstrating … Read more
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that the country’s technical crude oil production potential now stands at 2.24 million barrels per day (bpd). Speaking at the 2025 Nigeria International Energy Summit (NIES) in Abuja on Wednesday, NUPRC Chief Executive Officer, Gbemiga Komolafe, highlighted Nigeria’s significant oil and gas reserves, describing them as … Read more
United Bank for Africa (UBA) Plc has pledged its support for the African Union (AU) Peace Fund by donating a substantial $500,000. This donation aligns with UBA’s ongoing commitment to promoting peace, security, and sustainable development across the continent. The contribution was made to support the AU’s efforts outlined in its ambitious Africa Agenda 2063, … Read more
Nigeria’s Contributory Pension Scheme (CPS) has achieved significant growth in 2024, with total pension assets soaring to an impressive N22.51 trillion. This surge, driven by increased contributions, high investment returns, and efficient regulatory oversight, marks a N4.2 trillion increase from the previous year’s N18.355 trillion. The data was revealed in the National Pension Commission’s (PenCom) … Read more
The National Assembly has approved a budget estimate of N140 billion for the South East Development Commission (SEDC) for the 2025 financial year. This allocation was part of the N54.9 trillion national budget passed by lawmakers on February 14, 2025. The SEDC, which was established to rebuild and rehabilitate the Southeast region following the damages … Read more
Nigeria’s consumer credit outstanding surged by 26.29% to N4.42 trillion in November 2024, up from N3.5 trillion in October, as inflation expectations drove more Nigerians to rely on credit to manage rising living costs. This is according to the latest Monthly Economic Report from the Central Bank of Nigeria (CBN). Consumer credit represents the total … Read more
In a defining move that signals its evolution and strategic foresight, FBN Holdings Plc has officially rebranded as First HoldCo Plc (FirstHoldCo). This landmark transition, announced by the company’s Secretary, Adewale Arogundade, represents a major step in unifying its subsidiaries, reinforcing its heritage, and strengthening its leadership in the financial services sector. The rebranding is … Read more
FBN Holdings Plc, one of Nigeria’s leading financial services groups, has officially rebranded to First HoldCo Plc (FirstHoldCo) in a strategic move aimed at unifying its corporate identity, reinforcing its rich heritage, and positioning itself for long-term industry leadership. The company announced the change in a statement signed by its Secretary, Adewale Arogundade, emphasizing that … Read more
MTN Nigeria has bowed to public pressure and reversed its recent 200% increase in the price of its 15GB data bundle. The telecommunications giant had initially raised the price of the plan from N2,000 to N6,000, a move that sparked outrage among subscribers who rely on affordable internet access for work, education, and daily communication. … Read more