Nigeria Ranks 61st Globally, 2nd In Africa On Startup Ecosystem Index   The Nigerian startup ecosystem has been ranked 61st globally and second in Africa on the Global Startup Ecosystem Index by StartupBlink. Nigeria displaced Kenya to spot 62 and third in Africa. According to the ranking,...

Adulterated Fuels: Nigeria, Others Require $15.7bn to Upgrade Existing Refineries   The African Refiners and Distributors Association (ARDA) has said Nigeria and other African countries would need at least $15.7 billion to upgrade existing refineries in their bid to reduce sulphur content. Speaking at the second Refining...

Nigeria’s Debt Rose By 226% To N39.56trn Since Buhari's Administration   With analysts in the financial service sector impressing it on the federal government to slow down on its borrowing bing, it has emerged that Nigeria’s debt rose steeply by a whooping 226 per cent In...

Nigeria Loses N2.2trn Revenue To Crude Production Delays In One Year   Nigeria lost a whopping N2.1 trillion as a result of crude oil production deferment in one year. The 2021 statistics from the Nigeria Extractive Industries Transparency Initiative (NEITI), said the huge loss was recorded in...

Equiano Cable and Speeding up Nigeria's Internet Connectivity, by Fom Gyem   The Equiano cable, named after Nigerian-born writer and abolitionist Olaudah Equiano, is a cutting-edge infrastructure based on space-division multiplexing (SDM) technology, with 12 fiber pairs and a design capacity of 144Tbps, roughly 20 times...

Nigeria Spends 86% Of Revenue On Debt Servicing   Nigeria spent 86 per cent of its revenue on servicing debt in 2021, but South Africa spent only 20 per cent of its receipts on the same purpose. According to the International Monetary Fund’s 2021 Article IV estimates,...