Good morning, here are the latest top business news headlines for today Wednesday, March 2021.
Konga Expands Retail Footprint To Owerri
Konga, Nigeria’s omni-channel e-commerce company, is set to expand its growing retail presence with the launch of a new store in Owerri, the Imo State capital.
The company in a statement on Tuesday said the expansion would…Read more
Shell Sells Egyptian Assets For $926 Million
As part of plans to downsize future upstream operations globally, Shell is planning to sell some upstream assets in Egypt for up to $926 million.
The oil and gas firm said the divestment would allow it to…Read more
Nigeria Records Trade Deficit, First In 4 Years
The Nigerian suffered a trade deficit in t2020 to the tune of N7.37 trillion, the first in four years. This is according to the 2020 fourth quarter foreign trade in goods statistics report released by the National Bureau of Statistics, NBS, on Tuesday.
The N2.73 trillion trade deficit recorded in Q4 2020 represents the…Read more
Crude Oil Price Falls After Hitting $70
The price of the international oil benchmark, Brent crude, fell on Monday after rising above the $70 per barrel mark for the first time in over 14 months.
Brent, against which Nigeria’s oil priced, fell by $1.30 to…Read more
IPMAN Faults Plans To Scrap Petroleum Equalisation Fund From PIB
Independent Petroleum Marketers Association of Nigeria (IPMAN) has rejected the proposed scrapping of the Petroleum Equalisation Fund (PEF) in the draft of the Petroleum Industry Bill (PIB) currently before the National Assembly.
The IPMAN’s President, Mr. Chinedu Okoronkwo, said the role of…Read more
The SME Sector Is A Potential Game Changer For Economic Growth – Akeem Lawal
The Small and Medium Enterprises (SME) sector have been named as a major driver of growth in the Nigerian economy, and one which stakeholders need to simplify processes. This statement was made by Akeem Lawal, Divisional CEO for Payments Processing at Interswitch, when he featured on the CNBC Power Lunch programme on Monday, March 1, 2021.
He explained that payment being a pinpoint for businesses needed to be…Read more
‘COVID-19: ‘Your Country Could Be One Of Five Struggling With National Debt’
The coronavirus-induced recession has seen countries that were already battling a skyrocketing national debt plunge into more crisis.
Data analyzed by Finbold indicates that the top five countries globally with…Read more
Nigeria’s Export Value Rose By 6.7% In Q4 2020
Nigeria’s total export value in the fourth quarter of 2020 saw a 6.7 percent increase against the value recorded in the third quarter of the same year.
This disclosure was made by the Nigeria Bureau of Statistics (NBS)…Read more
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