Author: Ifetayo Adeniyi

Nigeria’s GDP, driven by services sector, grows by 3.84% in Q4 2024 Nigeria’s GDP, driven by services sector, grows by 3.84% in Q4 2024 The National Bureau of Statistics (NBS) has reported that Nigeria’s annual gross domestic product (GDP) grew by 3.84 per cent in the fourth quarter (Q4) of 2024, compared to 3.46 per cent in Q3 2024 and 3.46 per cent in Q4 2023. According to the NBS report, the GDP growth was primarily driven by the services sector, which expanded by 5.37 per cent and contributed 57.38 per cent to the overall GDP. “The agriculture sector grew…

Bharti Airtel acquires additional N409.4 billion stake in Airtel Africa Bharti Airtel acquires additional N409.4 billion stake in Airtel Africa. Major stakeholder in Airtel Africa, Bharti Airtel, has acquired an additional 4.45 percent stake in Airtel Africa. This additional stake has a valuation of N409.4 billion, based on a share price of £1.32. The Indian group acquired 163,580,582 new shares of Airtel Africa on the London Stock Exchange. According to this acquisition, Bharti Airtel’s stake in the African telecoms giant is now 61.745 percent, increasing from 57.293 percent. Before the share acquisition, the share buyback programme had seen Bharti’s…

Unity Bank Grows Deposits by 23%, Posts N59.3B in Gross Earnings in 2023 FY Retail lender, Unity Bank Plc posted gross earnings of N59.3 billion for the full year ended December 31, 2023, representing a growth of 3.84% year-on-year. In its audited financials submitted to the NGX Group Limited, the Bank also witnessed improvements across key performance indicators, including a significant appreciation of customer deposits by 23% to N402.9 billion from N327.4 billion within the period under review – an indication of sustained retail growth and customer confidence. Other key highlights of the full-year results include the total assets which…

Oluremi Tinubu renders assistance to traders in N’West, distributes kits to midwives First Lady Senator Oluremi Tinubu Oluremi Tinubu renders assistance to traders in N’West, distributes kits to midwives First Lady Senator Oluremi Tinubu has officially launched the distribution of professional kits to midwives across the North-West geopolitical zone. The initiative, spearheaded by the Renewed Hope Initiative, took place in Kaduna State, with the First Ladies of all seven North-West states in attendance. Highlighting the vital role of midwives in improving healthcare outcomes, Tinubu emphasised that “the demands of the health profession go beyond mere skills and compassion, noting that…

FG clears investors misunderstandings over visa-on-arrival erasure Minister of Interior, Olubunmi Tunji-Ojo • New regulations would require pre-arrival clearance in real-time. The Presidential Enabling Business Environment Council on Monday played down the recent decision of the Ministry of Interior to scrap the Visa-on-Arrival policy, which seems to be generating mixed reactions among investors and the international community. It was eported on Friday that the Minister of Interior, Dr Olubunmi Tunji-Ojo, revealed plans to discontinue the policy, describing it as “unsustainable” and a potential security risk. Tunji-Ojo disclosed this at the graduation ceremony of 100 officers of the Nigeria Immigration Service…

Tinubu plans committee, considers another Census President Bola Tinubu Tinubu plans committee, considers another Census. Tinubu plans committee, considers another Census. Nigeria has taken a significant step towards conducting a new national population and housing census incorporating biometric and digital components. The last was held in November 2006. President Bola Tinubu, during a meeting at the State House with officials of the National Population Commission (NPC), announced plans to establish a committee to align the census budget with the government’s current financial realities. He emphasised the need for the National Identity Management Commission (NIMC) to be involved in the review…

Lekki Economic Zone: Lagos, stakeholders sign MoU to hasten growth Lekki Economic Zone: Lagos, stakeholders sign MoU to hasten growth. In a move aimed at accelerating the growth of the Lekki Economic Zone, the Lagos State government has formalised collaboration among the different stakeholders within the zone. The state ministry of commerce, cooperatives, trade and investment, brought major drivers in the Lekki Economic Zone together on Monday, where they signed a Memorandum of Understanding (MOU) involving the Lekki Worldwide Investment Limited – representing the state government, Lekki Free Zone Development Company (LFZDC), Lagos Free Zone, Dangote Enterprise Zone, Alaro City,…

Dangote Group Employs Advanced Technology To Reinvigorate Companies Dangote Group Employs Advanced Technology To Reinvigorate Companies. Backing Clinging onto its position as Africa’s leading conglomerate, the Dangote Industries Limited has instituted a plethora of cutting-edge technology in creating top-notch efficiency for all its companies. Speaking weekend at the just concluded 46th Edition of the Kaduna International Trade Fair, Senior Advisor to the President of the Dangote Group, Fatima Wali Abdurrahman, said the digitization exercise is a sustained endeavour, adding that it has helped in speeding up manufacturing and sales. “As some of you may be aware, we have since digitized…

FG Sets Up Joint Committee To Handle Issues Surrounding Fiber Cuts As proper handling of effective communication becomes paramount, committees are set up to deal with issues surrounding fiber cuts. The Federal Ministry of Works (FMoW) and the Federal Ministry of Communications, Innovation, and Digital Economy (FMoCIDE) have established a Joint Standing Committee on the Protection of Fiber Optic Cables to address the persistent issue of fiber optic cuts and damages caused by road construction and rehabilitation activities. These disruptions have had a significant negative impact on telecommunications services across Nigeria. The Joint Standing Committee on Protection of Fiber Optic…

Tinubu congratulates Aiyedatiwa on fresh term Tinubu and Aiyedatiwa Tinubu congratulates Aiyedatiwa on inauguration as Info governor. President Bola Tinubu has congratulated Ondo State Governor, Lucky Aiyedatiwa, on his fresh term in office. Aiyedatiwa, who succeeded former Governor Rotimi Akeredolu, was sworn in on Monday in Akure, the capital of Ondo State. According to presidential spokesman, Bayo Onanuga, the President urged him to use his overwhelming mandate to serve the good people of the state and build on the legacy of his illustrious predecessor, the Late Governor Rotimi Akeredolu. The president also advised Aiyedatiwa to expand economic opportunities, reduce poverty,…