Good morning, here are the latest top business news headlines for today Thursday, 4 February 2021.
13% Derivation Fund Remains Unclear To Recipients
State governors that benefited from the 13 percent derivation fund from the federal account remain unclear on where the funds should be channeled, according to the Special Assistant to the Minister of Nigeria Delta Affairs, Charles Achodo.
Eight oil-producing states in Nigeria were recipients of more than…Read more
How Stanbic IBTC Is Empowering Female-led Startups For Economic Growth
Michelle Obama, the former US first lady, once said: “No country can ever truly flourish if it stifles the potential of its women and deprives itself of the contributions of half of its citizens.” This speaks to the incredible potential that can be brought to bear in a society that promotes female tech-led initiatives.
Stanbic IBTC, known for its unwavering commitment to driving Africa’s growth…Read more
11 Years Later Alibaba Cloud Turns Profitable
Alibaba Cloud, a cloud computing company and child tech firm of China’s e-commerce behemoth Alibaba, has disclosed that it turned profitable after 11 years.
This was disclosed in the company’s earnings report, where it stated that…Read more
How Nigeria, Other African Countries Can Forge An Inclusive Economic Recovery
As of this writing, the spread of COVID-19 in many African countries has been more contained, and the death toll lower, than some had expected in 2020. The economic fallout of the pandemic for Africans, however, will be different and could be direr than for the rest of the world.
Sub-Saharan Africa accounts for more than half of the world’s…Read more
Premium Mastercard Holders To Get 75% Scholarship
Global financial services firm Mastercard has announced that its premium cardholders will get 75 percent scholarships to study at Unicaf’s partner universities.
This was disclosed by the firm in a press release…Read more
NAFEX Update: Naira Weakens Further
The exchange rate at the Nigerian Autonomous Foreign Exchange (NAFEX) window continued it weakened more at the Investors and Exporters window on Tuesday, February 2, 2021.
The foreign exchange closed at N395.00 to one dollar as against…Read more
New Regulations In Oil Industry Seeks Forex Parity
The Technical Committee on Premium Motor Spirit (PMS) Pricing Framework, has issued new regulations on the pricing, importation, and distribution of petroleum products in Nigeria, including the parity of forex for marketers.
On December 14, 2020, a technical committee was established by…Read more
Oil Price Rises Above $57 On Production Cuts Compliance
The international oil benchmark, Brent crude, soared to a peak of $57.87 per barrel mark on Tuesday, February 2, for the first time since early February last year on production cuts compliance.
Brent, against which Nigeria’s oil priced, rose by more than…Read more
PlayStation 5 Boosts Sony’s Profit By 87%
Japanese multinational conglomerate, Sony Corporation disclosed that the launch of its PlayStation 5 console in November 2020 gave a profit boost of 87 percent.
The surge can be attributed to lockdowns ordered by…Read more
20 million Nigerians At Risk Of Joining Poverty Rank By 2022, W’Bank Warns
The World Bank has warned that between 15 and 20 million Nigerians are at risk of joining the Poverty Rank by 2022.
The World Bank and chairman of the Presidential Economic Advisory Council…Read more
To stay up-to-date with our latest business and trending news stories, visit bizwatchnigeria.ng
