Kingdom, Progress Thrill Bigi Drinks Consumers in Lagos

By Adedapo Adesanya  With Detty December around the corner, which means concert season, Livewire Concerts, an international entertainment company based in Nigeria, is launching its first edition of shows headlined by women on December 17, 2023. Themed A Night of Queens, the concert will have an all-female lineup featuring musical heavyweights such as Tiwa Savage, Teni, Simi, Waje, Niniola, Yemi Alade, and more, showcasing the incredible talent and diversity of Nigeria’s female music scene. In a statement shared with Business Post, the organisers said the concert promises a diverse musical medley, showcasing the unique styles and sounds that have made

By Adedapo Adesanya The House of Representatives has summoned controversial singer, Mr Azeez Fashola, popularly known as Naira Marley, to appear before it as part of moves to secure proper compensation and royalties for late singer, Mr Ilerioluwa Aloba (Mohbad) for his musical works. The deceased died on September 12 at the age of 27 over unclear circumstances. Following his death, documented history from the singer showed he had historically been threatened and suffered violence after his split from Mr Fashola’s Marlian Music last year. This sparked outrage, leading to government and security agencies’ involvement. Through its Committee on Justice,

By Modupe Gbadeyanka Members of the Theatre Arts and Motion Picture Practitioners Association of Nigeria (TAMPAN) have been commended by the Oyo State Government for their immense contribution to advancing the cultural values of the state. The Commissioner for Culture and Tourism, Mr Wasiu Olatubosun, while receiving the group in his office last Friday, assured that the state government would take their welfare into consideration. Mr Olatubosun said the government was ready to support the theatre arts industry because of the vital role it plays in promoting tourism and the culture of the society. He urged the practitioners to key

By Bliss Okperan One of Nigeria’s leading digital retail banks, Polaris Bank, is collaborating with Eventful Limited for the 2023 edition of Fashion Souk 9.0. According to a statement from the lender, the event is scheduled for the Harbour Point in Lagos on Saturday, December 2 and Sunday, December 3. Business Post reports that Fashion Souk is Nigeria’s premier marketplace where smart Small and Medium Enterprises (SMEs) in the industry gather to display and market their variety of goods and services to a large audience. “Over 140 established SMEs in Nigeria’s fashion industry, leather and jewellery/accessories sectors, spanning across manufacturers,

By Adedapo Adesanya The global credit ratings agency, Moody’s, has maintained the African Export-Import Bank (Afreximbank) rating at Baa1 in its annual credit analysis, with the outlook categorized as stable. The agency determines its rating for supranational based on three criteria: capital adequacy, liquidity and funding, and strength of member support. Moody’s noted that Afreximbank’s credit profile is “supported by its critical role under the African Union umbrella that garners it recurrent capital infusions…alongside the implementation of the African Continental Free Trade Agreement.” The ongoing provision of new capital by the bank’s member states is cited because it “gives Afreximbank

By Adedapo Adesanya Nigerian neobank, Kuda Bank, is expanding to the United Kingdom by offering a remittance product to Nigerians in the diaspora. Kuda, which last year raised $55m Series B funding, is entering the UK market charging a flat fee of only £3 with a transfer limit of £10,000. With over £3 billion sent from the UK to Nigeria yearly at an average fee of eight per cent per transaction, Kuda says it is set to save UK Nigerians millions of pounds. Commenting on the launch of the UK app, CEO and co-founder, Mr Babs Ogundeyi, said, “Africans in

By Modupe Gbadeyanka The Central Bank of Nigeria (CBN) has again failed to tamper with the Monetary Policy Rate (MPR), leaving it unchanged at 14 percent. At the end of its Monetary Policy Committee (MPC) meeting on Tuesday, January 24, 2017, the apex bank noted that reducing the MPR could have an adverse effect on the economy, presently in recession, but already on its way to recovery. Reading the committee’s communiqué after the meeting, the CBN Governor, Mr Godwin Emefiele, explained that the MPR was left alone at its present rate “in consideration of the headwinds in the domestic economy

By Adedapo Adesanya The United States of America (USA) has reiterated its commitment to support its relationship with Nigeria as President Joe Biden met with President Bola Tinubu on the sidelines of the G20 in New Delhi, India, on Sunday. Recall that President Tibunu is in the Indian capital on invitation of Prime Minister Narendra Modi at the to-day summit, which concluded on Sunday, September 10. President Biden said the world’s largest economy will “reinforce our enduring commitment to the U.S.-Nigeria relationship and to the longstanding friendship between our two countries and peoples.” President Biden welcomed the Tinubu Administration’s steps

By Adedapo Adesanya The federal government has lamented the slow pace at which the China Civil Engineering Construction Corporation (CCECC) is working on the Lagos-Ibadan rail line project, urging for the firm to speed up the full completion of the project. This was made known by the Minister of Transportation, Mr Rotimi Amaechi, on Saturday while inspecting the project in Lagos. He added that the company had given a commitment towards finishing it by end of April. He said: “Most of the things remaining are minor and it cannot delay the movement of goods. They have promised to finish by

By Aduragbemi Omiyale For the first time in many months, the Nigerian business activity index fell into the negative region in February 2023 due to the scarcity of fuel and Naira in the financial system. The Central Bank of Nigeria (CBN) redesigned the N200, N500, and N1,000 banknotes last year and gave Nigerians till January 31, 2023, to swap their old notes for the new ones. However, after calls from various quarters, the deadline was shifted to February 10, 2023. Two days before the expiration, three state governments went to the supreme court to stop the implementation of the policy

By Gregory Kronsten Education has been hit particularly hard by COVID-19 and the lockdowns imposed in almost all jurisdictions. We refer to the second instalment in June of COVID-19 impact monitoring, a publication of the National Bureau of Statistics in partnership with the World Bank. It noted that 35 per cent of households with children of school attending age reported some contact between pupil and teacher, compared with just 19 per cent in April/May. (Schools were closed at the time of both these surveys). Yet the share of households reporting some educational activities was unchanged at 61 per cent. Government

By Modupe Gbadeyanka The planned nationwide strike action earlier fixed for Wednesday, June 7, 2023, by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) has been suspended by the unions. The labour unions suspended the industrial action on Monday night after a meeting with the federal government at the Presidential Villa. Nigerian workers had planned to stay away from work to protest the announcement of the removal of fuel subsidy by President Bola Tinubu during his inaugural speech last Monday. Recall that earlier yesterday, the central government obtained an interim order from the National Industrial Court to