Industry

Nigeria’s transportation and banking sectors, which registered real growth rates of 41.59% and 12.7%, respectively, were at the top of the list of the fastest-growing sectors in the third quarter of 2022. This is stated in the National Bureau of Statistics’ (NBS) Q3 2022 Gross Domestic Product (GDP) report. In…

International oil companies operating in Nigeria may be dodging taxes by claiming capital allowances without a Certificate of Acceptance of Fixed Assets (CAFA). The committee looking into the Structure and Accountability of the Joint Venture (JV) Business and Production Sharing Contracts (PSCs) was looking into Shell Petroleum Development Company of…

Jumia, the largest e-commerce company in Africa has joined the number of top tech companies to lay off some staff. This is in addition to putting an end to its free delivery.   In comparison to Jumia’s previous quarter, the company’s Q3 results demonstrated sustained growth but dips in some areas.…

Indeed the circumstances of a man’s birth are no grounds to predict how much heights he would attain. For the humble beginnings which Sir Olaniwun Ajayi started from, there could have been no telling just how far he would grow. Infact, some say he died a giant after making so…

Airtel Africa’s request to get a 3.5GHz spectrum slot for $273.6 million has been denied by the Nigerian Communications Commission (NCC).  For context, the NCC had set the reserve price for the most recent 5G spectrum auction at $197.4 million. This price is the lowest that the commission a seller…

The most valuable brands in the world consistently perform well, and this is no accident. They continue to be at the top because they adhere to a brand success formula that other companies will struggle to replicate. Leading brands share a few characteristics in common. A brand is deemed valuable…

As part of Elon Musk’s efforts to reorganise the social media platform he recently bought, Twitter has laid off almost all of its staff managing its sole office in Africa, according to a new report. Just days after the physical office in Ghana was finally inaugurated after approximately a year…

The parent company of Facebook, Instagram, and WhatsApp, Meta, disclosed a significant round of layoffs that affected 13% of its staff. The announcement comes at a time when businesses across the technological spectrum have made sizable waves of layoffs in recent months.  For example, Twitter laid off roughly half of…

Abdul Samad Rabiu, a Nigerian billionaire who owns BUA Cement Plc, is on course to receive yet another sizable payout in 2023 after the company’s first nine months of fiscal year 2022 ended with a profit of $168.4 million. As cement sales grew by double digits, the major cement manufacturer’s…

A couple of  Nigerian tech Chief Executive Officers (CEOs) stepped down from their roles in 2022 for reasons such as unethical work culture, sexual harassment, and mismanagement of funds. Despite the high rate of tech CEOs who stepped down due to their questionable actions, some passed the baton naturally to…