Fakoyejo Olalekan, Author at Prime Business Africa

Garba Shehu Says Buhari Helped Tinubu Win Election By Not Removing Fuel Subsidy

Garba Shehu, a former spokesperson to ex-President Muhammadu Buhari, has disclosed that the fuel subsidy was not removed to enable the current President, Bola Tinubu, to win the election in February 2023.

Fakoyejo Olalekan

June 27, 2023

Business·Markets

Stock Market Gainers Earn N71.94bn, Unity Bank, Cutix Among Losers’ List

The gainers in the stock market on Monday, 26 June, pocketed N71.94 billion, as the Nigerian bourse capitalisation increased from N32.23 trillion to N32.30 trillion. The All-Share Index grew by 129.25 basis points to

Fakoyejo Olalekan

June 26, 2023

NNPCL Denies Inflating Fuel Subsidy Payments

Business·Oil & Gas

NNPC Involved In Fuel Subsidy Scam Before Removal, Yuguda Reveals

The Former Governor of Bauchi State, Isa Yuguda, has accused the Nigerian National Petroleum Company (NNPC) Limited of enabling a fuel subsidy scam before its removal. Yuguda said the NNPC collaborated with

Fakoyejo Olalekan

June 26, 2023

Business·Oil & Gas

Bauchi Ex-gov Reveals He has A Friend Tired Of Making Money From Fuel Subsidy Scam

A former governor of Bauchi State, and former minister of Aviation, Isa Yuguda, has revealed that one of his friends benefited significantly from the fuel subsidy scam. Yuguda said the friend, operating

Fakoyejo Olalekan

June 26, 2023

External Reserves Fall To Two-Year Low, To Affect Tinubu’s N200/$1 Rate Ambition

Business

Tinubu Told To End Bank Transfer Charges, Reduce Workers’ Pension Contribution

President Bola Tinubu has been urged to end bank charges and reduce workers’ monthly contributions to pension schemes to cushion the negative effect of the fuel subsidy removal on Nigerians. This was

Fakoyejo Olalekan

June 26, 2023

Africa·Business·Insights

African Countries Losing Nigeria’s N52.38trn Foreign Trade To Europe, Asia

Nigerian traders are cutting down their foreign trade with other African countries, a move the European countries and Asia are benefiting from. There have been changes in the trading behaviour of Nigerian

Fakoyejo Olalekan

June 26, 2023

Business·Markets

Over N4.09 billion Lost In Stock Market, Unity Bank Tops Losers’ List

Nigerian stock market capitalisation dipped by N4.09 billion on Friday, dropping from N32.24 trillion to N32.23 trillion. The All-Share Index slightly declined by 4.63 basis points to 59,206.63 ASI, from 59,211.26 ASI. Over 627.87 million

Fakoyejo Olalekan

June 23, 2023

Africa

Kenya’s Ruto Criticises “Unfair” Global Lending System, Requests IMF, World Bank Loan Review

Kenyan President, William Ruto, has slammed the unfair treatment of developing countries in the arrangement of the global lending system. Ruto said the richer countries pay less interest rates compared to the

Fakoyejo Olalekan

June 23, 2023

Business·Insights

Electricity Supply Costs Nigerians N247.33bn, New Report Shows

The National Bureau of Statistics (NBS) data on revenue generated by electricity Distribution Companies (DisCos) showed that Nigerians spent N247.33 billion on power supply in the first quarter (Q1) of 2023. This

Fakoyejo Olalekan

June 23, 2023

Business

NLC Moves Against 40% Electricity Tariff Increase

The plan to increase electricity tariff by 40 per cent from 1 July 2023 has been criticised by the workers union, Nigeria Labour Congress (NLC). Reacting to the tariff hike on behalf

Fakoyejo Olalekan

June 23, 2023

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Fakoyejo Olalekan

Garba Shehu Says Buhari Helped Tinubu Win Election By Not Removing Fuel Subsidy

Stock Market Gainers Earn N71.94bn, Unity Bank, Cutix Among Losers’ List

NNPC Involved In Fuel Subsidy Scam Before Removal, Yuguda Reveals

Bauchi Ex-gov Reveals He has A Friend Tired Of Making Money From Fuel Subsidy Scam

Tinubu Told To End Bank Transfer Charges, Reduce Workers’ Pension Contribution

African Countries Losing Nigeria’s N52.38trn Foreign Trade To Europe, Asia

Over N4.09 billion Lost In Stock Market, Unity Bank Tops Losers’ List

Kenya’s Ruto Criticises “Unfair” Global Lending System, Requests IMF, World Bank Loan Review

Electricity Supply Costs Nigerians N247.33bn, New Report Shows

NLC Moves Against 40% Electricity Tariff Increase

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