SECTOR INSIGHT

VIN: Nigerians Can’t Afford Second-Hand Vehicles – Agents

Importation of used vehicles into Nigeria has declined since the introduction of the Vehicle Identification Number, VIN, by the Nigeria Customs Service. A member of the National Association of Government Approved Freight Forwarders, Ugochukwu Nnadi, disclosed this to press in a telephone call…

11/08/2022 0Comments

Flutterwave Hires 200, Grows Workforce By 38%

Flutterwave has said it has completed the recruitment process for its inaugural graduate trainee programme and grown its staff base by 38 per cent in the process. It said in a statement that it hired 200 trainees into its programme and aims to…

11/08/2022 0Comments

South African Airways Adjusts Ticket Sales From Naira To Dollars

Rather than going through the obvious and difficult process of repatriating its funds out of Nigeria, South African Airways (SAA) has just announced that from Wednesday, August 10, 2022, it will start adjusting its tickets from naira to dollars with the aim…

10/08/2022 0Comments

Badagry Port Devt Limited to Create 25,000 Jobs

The Badagry Deep Seaport project, which is a strategic step towards the development of Nigeria as a global maritime hub will create about 25,000 jobs. The project is being handled by Badagry Port Development Limited (BPDL), wholly owned by Quinn McGrath Marine & Environmental Services Limited…

10/08/2022 0Comments

FIRS Demands N1tr Tax Remittance From Govt Agencies

The Federal Inland Revenue Service (FIRS) has written ministries, departments and agencies (MDAs) to refund over N1 trillion in taxes they have failed to remit according to The Nation. A source at the FIRS told press that MDAs are expected to collect certain…

10/08/2022 0Comments

Nigeria Spends $2.35bn on Phone Importation

Nigeria spent $2.35bn on telephone importation in three years, according to data from the International Trade Centre. The nation spent $807.95m on importation of phone sets in 2019, $765.57m in 2020 and $772.25m in 2021, the ITC, which is an international body that…

10/08/2022 0Comments

Diesel Prices Force NRC To Reduce Lagos-Ibadan trips By 67%

The hike in diesel price has forced the Nigeria Railway Corporation to reduce the number of trips on the Lagos-Ibadan Train Service by about 66.67 per cent, it was gathered on Tuesday. It was also learnt that the corporation had sent recommendations to…

10/08/2022 0Comments

Broadband Penetration Hits 44.5%

Nigeria’s broadband usage has continued on the rise, moving up from 40.9 per cent in February 2022 to 44.5 per cent in July 2022, a figure considered hopeful for achieving the national broadband target of 70 per cent in 2025. Executive Vice Chairman…

10/08/2022 0Comments

Whatsapp Introduces New Privacy Features

Worldwide instant messaging app, Whatsapp has introduced new features as part of security measures to make the app safer and easier for users. The green app is one of the most used social media used for both personal use and business with approximately…

09/08/2022 0Comments

Nigeria, Three Others Top World Bank Debtors’ List

Rising debt has pushed Nigeria up the World Bank’s top 10 International Development Association borrowers’ list. The World Bank Fiscal Year 2021 audited financial statements, known as the IDA financial statement, showed that Nigeria was rated fifth on the list with $11.7bn IDA…

09/08/2022 0Comments

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