Excitement as Etisalat Nigeria Unveils New Brand Identity ‘9mobile’

By Adedapo Adesanya The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, has announced a plan to help Nigerian tech startups raise a total of $5 billion yearly in funding rounds by 2027. He disclosed the plan in the ministry’s 31-page Strategic Blueprint document titled Accelerating our Collective Prosperity through Technical Efficiency, released and seen by Business Post on Monday. Mr Tijani said the ministry’s primary objective is to stimulate the growth and sustainability of startups, with a specific focus on developing innovative solutions for critical sectors of the economy. “Recognising the critical role of patient capital in the

By Adedapo Adesanya The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Mr Aminu Maida, has charged Nokia Networks to increase its investments in Research and Development (R&D) to support the growth of Information and Communication Technology (ICT) in Nigeria. Mr Maida spoke when a delegation from Nokia Networks of Finland led by the Deputy Minister, Under-Secretary of State for International Trade from the Ministry for Foreign Affairs of Finland, Mr Jarno Syrjala, visited the commission recently to explore further opportunities for mutually beneficial relationships. He told the delegation that the Nigerian government is

By Precious Olisa A Cameroon-based company, Koree, has emerged as the winner of the 2023 edition of the Ecobank Fintech Challenge, going home with a prize of $50,000. The firm was announced as the winner of the contest by the panel of judges during the competition’s grand finale at the bank’s headquarters at the Pan African Centre in Lomé, Togo. The organisations made it to the final from an initial pool of over 1,400 fintechs from 64 countries, underscoring the significant growth in popularity of the competition since its inception six years ago, as well as the wealth of innovation

By Dipo Olowookere A funding support of about N5 billion has been launched by the Federal Government for Artisanal Small Scale Mining (ASM) operations in the country. The fund was inaugurated on behalf of the FG by the Ministry of Mines & Steel Development and the Bank of Industry (BoI). While the Mines & Steel Development is committing N2.5 billion to the funding scheme, the BoI is providing the other N2.5 billion. Speaking at the inauguration, Minister of Mines & Steel Development, Mr Kayode Fayemi, explained that the loan will help local miners and as well boost the country’s economy.

By Adedapo Adesanya Despite the massive quantity of gas shipped out of the country, the large quantity consumed within the country and the huge revenue earned by gas companies, especially the Nigerian Liquefied Natural Gas, the Central Bank of Nigeria (CBN) disclosed that the country recorded zero earnings from crude gas sales in the first quarter of 2023. According to the latest data released by the CBN, since 2021, the country has only received revenue from gas sales four times. That is in January, February, April and October 2021. Specifically, the report revealed that between January 2021 and March 2023,

By Modupe Gbadeyanka Nigerians have been advised to tighten their belts by President Muhammadu Buhari as the nation’s economy is currently in bad shape. Mr Buhari gave this advice last week when he held a meeting with governors of the 36 states of the federation in the Presidential Villa. Chairman of the Nigeria Governors Forum (NGF) and Zamfara State Governor, Mr Abdulaziz Yari, who addressed newsmen after the meeting, said Mr President told his guests to redouble their efforts in addressing infrastructural deficiencies in their respective states. “Mr President as usual, responded by telling us that the economy is in

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By Dipo Olowookere A fine of N46.1 million has been slammed on African Alliance Plc by the Nigerian Stock Exchange (NSE) for failing to submit its earnings for 2015 and 2016 financial years. An NSE X-Compliance Report released on April 12, 2018 disclosed that African Alliance was a wrong filer of audited accounts. It further said the insurer also falls short of the minimum listing standards in terms of timely disclosure of its audited annual financial performance, pointing out that the company has Missed Regulatory Fillings (MRF) or Awaiting Regulatory Approval (AWR) of their primary regulators, which is the National

By Adedapo Adesanya Oil settled lower on Thursday for the third consecutive day on the prospect of a large rate hike in the United States later this month. Brent depreciated by 47 cents or 0.5 per cent to $99.10 a barrel while the US West Texas Intermediate (WTI) crude lost 52 cents or 0.5 per cent to close at $95.78 a barrel. The pressure on the oil market was previously building after a higher-than-expected US inflation data for June and crude inventories build both reported on Wednesday, weighed on market sentiment and prices on Thursday. In the world’s largest oil

By Adedapo Adesanya Continued fuel scarcity has exacerbated worries among Nigerians in the past few days in Lagos and other cities across the country, Business Post can confirm. Across multiple filling stations monitored in Lagos from Alimosho, Agege, Ogba, and Ifako Ijaiye, some are closed while those opened are filled with stranded and customers with empty containers, with the pump price at about N260 per litre in one of the petrol stations visited on Wednesday morning. This is not exclusive to Lagos alone, as this newspaper independently verified that this is the situation in some other states. The situation can

By Modupe Gbadeyanka A veteran actor in the Yoruba film industry, Mr Ojo Arowosafe, otherwise known as Fadeyi Oloro, has breathed his last. According to reports, the 66-year-old make-belief star died on Tuesday after a protracted illness he had been nursing for a long time. Recall that recently, he was in the news over his health, which prompted a London-based self-acclaimed pastor, Pastor Tobi Adegboyega, to donate a sum of money to him last month. In a social media post on Tuesday night, a comedian and actor, Mr Bayegun Oluwatoyin, popularly known as Woli Arole, expressed satisfaction over reaching out