Author: Oladi Samuel

The presidential candidate of the Labour party, Peter Obi, has weighed in on the naira scarcity, saying that the currency redesign is not peculiar to Nigeria, although he believes that improvements could have been made in its implementation.  Obi pleaded with Nigerians to bear with the Central Bank of Nigeria (CBN) and the Federal Government over the current scarcity of the newly redesigned naira notes with the hope that the general public will soon benefit from the reforms.  This was made known in a statement issued by Peter Obi on Sunday, February 5, 2023, and can be seen on his…

Electricity remains an essential factor and economic tool in any nation. It’s important not just for individual use, but hardly will any sector of the economy or business survive without electricity. In Nigeria, “UP NEPA” is a lingua franca that spreads across the nooks and crannies of the country which mostly symbolizes the presence of electricity. Here are some things to note about electricity in Nigeria. As of December 2022, Nigeria has a generating capacity of 22,000 megawatts Nigeria as of 2020, has 54% electricity access Despite the nature of the country’s electricity, Nigeria exports electricity to neighbours Niger, Benin,…

The Nigerian National Petroleum Company (NNPC) Limited has said that 64.42 million liters of fuel were evacuated on a daily basis between January 28 and February 3. This disclosure is contained in a Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) weekly and daily dispatch report posted on its official Twitter account on Sunday, February 5. Meanwhile, the report also noted that within the week under review the total evacuation for the week was 450.92 million liters.   These figures give credence to the February 2 statement made by Group Chief Executive Officer of the NNPC, Mele Kyari on the NTA News…

Dupe Olusola, the MD/CEO of Transcorp Hotels PLC, one of Africa’s leading hospitality companies, outlines what it means to her to be successful. She considers everyone’s definition of success to be exclusive because it depends on their experiences and the outcomes they seek. “It is about giving back to the people – individuals and community around me,” – she says, defining what it means to her. The leading woman believes that success does not only depict what has been achieved. It also shows how well one performs the role they introduced themselves for. She delves further into the point, demonstrating that it…

The Nigerian billionaire businessman is more than simply a strolling pose in his distinctive red socks and black suit. Tony Elumelu has had an enormous impact on the African commercial setting. Tony Elumelu is the Chairman of the UBA Group, a multinational Pan-African bank, and the CEO of Heirs Holdings, a family-owned investment firm.  He has a majority stake in Transcorp Group, a publicly traded Nigerian conglomerate with activities in hospitality, farming, oil, and power.  Here are five effective ways Tony Elumelu brands himself.  His distinct sense of fashion  Tony Elumelu is a billionaire with style. One thing you can’t…

The Advisory Partner & Chief Economist of PricewaterhouseCoopers (PwC), Dr. Andrew Nevin said that Nigeria neither has a revenue problem, nor a debt problem, but a growth problem. This was made known on Saturday, February 4, 2033, by Nevin while speaking at the first Webinar session organized in 2023 by Nairametrics, with the theme: ‘2023 Economic Opportunities to Mitigate Impact of Headwinds.’ Nevins, in the statement, said that he disagrees with Nigeria’s minister of finance, who has on many occasions said “Nigeria doesn’t have a debt problem, but revenue problem.  He said from the trajectory where economic growth is not…

Financial Analyst, Mr Kalu Aja, has said that with the inflation rate hovering above 20%, it is very difficult to make a real return on investment in Nigeria. Aja stated this today at the Nairametrics Economic Outlook 2023 Webinar with the theme: 2023 Economic Opportunities to mitigate the impact of headwinds. Return on investments: He noted that the implication of the current inflation rate in Nigeria is that to make a real return on investment in Nigeria, an investor may not make up to 21% return on investment. He said: “Look at all the top stocks in the Nigerian stock market…

During Nairametrics’ just concluded webinar titled ‘Economic Outlook for Nigeria in 2023’, one of the panelists Cheta Nwanze, spoke on how Nigerians can leverage on the opportunities present in the different states of the federation. He also spoke on how individuals can upskill for higher income in the advent of emerging technology (AI, Cloud, etc). Highlighted below are a few key points worth mentioning. Competitive advantage across states: Nwanze, who is the Lead Partner at SBM Intelligence, discussed how to make use of the resources across each states of the country. Ogun state, has a close proximity to Lagos with…

Kenya dropped charges of financial impropriety against Flutterwave Inc., about seven months after a court in the East African nation froze the bank accounts of one of Africa’s biggest startups. The withdrawal of the charges was noted in a Kenyan High Court document seen by Bloomberg and verified by Robert Gitau, a lawyer representing Flutterwave. Dropping the case will come as a boost to Flutterwave, a Lagos and San Francisco-based financial technology company, that plans to expand its services of facilitating cross-border transactions in multiple currencies for companies, including Alibaba’s Alipay, Uber Technologies Inc.. The court in July restricted access…

During the Economic Outlook webinar organized by Nairametrics on Saturday, February 4, economic experts discussed the issue of fuel subsidy removal and how the policy could resolve challenges in the country’s oil industry.   Lead Partner at SBM Intelligence, Cheta Nwanze, said that the fuel subsidy has to be removed. However, he doesn’t think it will happen. He provided reasons for his stance:  “I think there are too many entrenched interests that will prevent the removal from happening. Nigerians are too addicted to cheap petrol and one thing that we need to understand is that you don’t throw an addiction out…