Category Archives: Business

In a remarkable shift towards a cashless economy, Nigerians conducted transactions worth an astonishing N85.91 trillion through Point-of-Sale (POS) terminals in the first half of 2024. This figure eclipses the N12.21 trillion recorded for Automated Teller Machine (ATM) transactions during the same period, marking a staggering 603% increase, according to data released by the CentralContinueContinue reading “2024 Payment Revolution: POS Transactions Surpass ATM Usage by 603% – CBN Report”

By Idris Kamal Ibrahim and Muhammad Abubakar Tahir For Muhammad Isah, a 32-year-old graduate of Crop Science, life after university was a reality check he never anticipated. Dreams of a prestigious white-collar job quickly faded as the harsh grip of unemployment set in. But where many saw despair, Muhammad saw an unconventional opportunity—in frogs.“After graduation,ContinueContinue reading ““Leaping to Prosperity: How Jigawa’s Frog Trade Transforms Lives and Boosts the Economy””

In a groundbreaking development poised to reshape global maritime trade, the Grimaldi Group has unveiled the first-ever direct shipping service from Shanghai, China, to Lagos, Nigeria. This announcement was made through the official X (formerly Twitter) handle of Nigerian Stories, marking a pivotal moment in the economic relationship between the two nations.This historic initiative eliminatesContinueContinue reading ““Game-Changer in Maritime Trade: Grimaldi Group Launches First-Ever Direct Shipping Route Between China and Nigeria””

In a shocking development for Nigeria’s economy, the naira has hit a record low of N1,660 against the dollar in the parallel market. The announcement was made by Nigerian Stories through its official X handle, sending ripples of concern across the nation.The continued depreciation of the naira underscores the deepening challenges facing Africa’s largest economy,ContinueContinue reading “Breaking News: Naira Plummets to N1,660 per Dollar on Parallel Market – A New Economic Low”

In a move set to impact millions of Nigerians, the Federal Inland Revenue Service (FIRS) has introduced the Electronic Money Transfer Levy (EMTL), mandating all banks in the country to charge ₦50 on electronic inflows of ₦10,000 and above. This development, announced on Nigerian Stories’ official X (formerly Twitter) handle, has sparked a wave ofContinueContinue reading “Nigerian Banks Begin Charging ₦50 EMTL on Electronic Inflows Above ₦10,000”

In a stark warning that signals a looming crisis for Nigerian households and businesses, the Poultry Association of Nigeria (PAN) has raised the alarm over the soaring cost of eggs. Taking to its official X handle, the popular news platform Nigerian Stories shared a statement from PAN, revealing that the price of a crate ofContinueContinue reading ““Crisis Looms as Egg Prices Set to Skyrocket to N10,000, Warn Poultry Farmers””

In a significant boost to Nigeria’s currency, the Naira appreciated by N35.32 against the US dollar at the official market on Friday, trading at N1,540.78 per dollar. This notable shift signals renewed optimism in the country’s economic stability amidst ongoing reforms in the financial sector.According to data released by the FMDQ Exchange, which manages theContinueContinue reading “Naira Surges by N35.32 Against Dollar in Official Market, Signaling Economic Resilience”

Nigerian bakers under the umbrella of the Association of Master Bakers and Caterers of Nigeria (AMBCN), have staged a nationwide peaceful protest over the rising cost of production, inflation and hardship in the country. The protest was sequel to a letter addressed to the Minister of the Federal Capital Territory (FCT),  Nyesom Wike, on FebruaryContinueContinue reading “Nigerian Bakers Association Holds Nationwide Protest Over Rising Costs Of Materials, Hardship”

Some business operators across the country have bemoaned low Christmas sales during this year’s Yuletide season. The business operators, which include supermarket owners, traders and poultry farmers, while speaking in separate interviews with The PUNCH, said this year’s sales did not reflect the numbers usually recorded during Christmas celebrations. They expressed disappointment that despite committing hugeContinueContinue reading “Yuletide: Chicken, fabric sales crash, retailers slash prices”