'e-Commerce Will Hit $75bn By 2025'   Agusto & Co, has predicted an influx of new entrants into the small and medium scale enterprises (SMEs) segment of the Nigerian economy. It also estimated that Nigeria recorded a volume of $12 billion transaction on online purchases in 2020,...

FG Mulls Locally Produced Barite To Cut N123.1bn Annual Import Bill   The federal government is midwifing a local production of Barite that will save the country’s import bill of over $300 million (about N123.1 billion based on N410.99 official exchange rate) annually. Barite is a mineral...

In Three Weeks, External Reserves Gain $3.98bn, Hit $40.76bn   Nigeria’s external reserves gained $3.98bn in three weeks, rising above the $40bn mark, according to data obtained from the Central Bank of Nigeria. The CBN data showed that the reserves rose to $40.76bn on October 20 from...

Nigeria’s Service Imports Surpass Exports, Records $33.7bn Deficit   Nigeria recorded trade in services deficit of $33.7bn in 2019, even as its merchandise exports fell by 14.1 per cent in the same year, according to the United Nations. The UN, in its UN Comtrade International Statistics Yearbook...

MultiChoice Nigeria Cleared To Appeal $4.4bn Tax Claim   A Nigerian tax tribunal has cleared MultiChoice Group Ltd., Africa’s biggest pay-TV provider, to appeal a disputed $4.4 billion tax bill in the country. The South African company’s local unit was allowed to proceed after paying a $19.4...

Discos Lose N97bn To Energy Theft, Others In Three Months   Electricity distribution companies have said a total of N97bn was lost in the first quarter of this year to energy theft, capping of estimated billing and other factors. The Association of Nigerian Electricity Distributors, the umbrella...