MTN Blames Nigeria For Its Poor 2015 Financial Performance
MTN Group released its 2015 financial results, which showed the company’s profits dropped by 50%, as the company has also set aside $600 million to cover the settlement of the…
Business News Round Up (March 3): Daar Communications records N3.4b loss, Power generation rallies to 4,200MW
Punch Loading of petrol improves at depots – Marketers:Petroleum products’ marketers said on Wednesday that loading of Premium Motor Spirit (petrol) had improved in some depots in Lagos. Power supply…
National Assembly To Pass 2016 Budget On March 17th
The 2016 revised budget will be passed in on March 17, according to lawmakers who disclosed this on Wednesday. The controversial 2016 Budget of N6.07 trillion received a lot of…
MTN Says It Has Set Aside $600 million For Nigerian Fines
MTN Group has announced that it is setting aside a sum of 9.3 billion rand ($600 million) to cover payments for the fine imposed on it by the NCC. NCC…
These 3 Nigerian Companies Want A Share Of Uganda’s Oil Blocks
Three Nigerian oil and gas exploration and production (E&P) companies are bidding for the maiden oil licensing round for oil blocks approved by the Ugandan government. The three companies were…
DSTV: Why MultiChoice May Increase Prices In Nigeria After Doing So In South Africa
MultiChoice announced new prices for its DStv services in South Africa recently, which will result in increases for many subscribers. The new prices will kick off on 1 April 2016,…
NERC Explains Why Electricity Output Is On The Decline
Nigerian Electricity Regulatory Commission (NERC) has announced that the power grid dropped more than 40% from its record breaking 5000mw in the past two weeks to 2,800mw due sabotage from…
Jumia’s Owners Just Raised $245million At An Incredible Valuation $1billion
Africa Internet Group, the company behind the continent’s biggest ecommerce company Jumia, has raised €225m ($245 m) in one of the biggest fundraising rounds yet seen for any Africa-focused technology…
Nigerian Stocks Are UP, Diamond Bank Gains 10%
Nigerian stocks ended in a positive today as the All Share Index (ASI) gained 1.65% to close at 25,816.29. The gain was abit lower than the 2.25% the ASI closed…
EIA Weekly Summary Report Analysis 3 2 2016 (Video)
By EconMatters An Analysis of the EIA Weekly Summary Report regarding the Oil Industry. Increasing Oil Imports right now are outpacing U.S. Production cuts, but the market is looking past…