Ecobank Group has reported a substantial 59% increase in its gross earnings, reaching N1.21 trillion by the end of September 2023, compared to N761.29 billion during the same period in […]
Tag: growth
Manufacturers in Nigeria say tough business conditions could stop growth
The Manufacturers Association of Nigeria (MAN) has underscored the critical importance of creating a conducive business environment for the productive sector to achieve Nigeria’s aspirations of rapid industrialization and economic […]
Top Nigerian banks achieve N2.1tn in profits for Q3, 214% growth
Six major Nigerian banks have collectively increased their profits by an impressive 214%, totaling N2.06 trillion in the third quarter of 2023 compared to N656.15 billion in the same period […]
Apple’s revenues drop 1% despite iPhone demand and strong services growth
Despite strong demand for its iPhones and services like Apple TV+, Apple’s sales have continued to decline. The tech giant reported a 1% dip in revenues, reaching $89.5 billion for […]
Insurance sector bounces back with 8.29% growth
The insurance sector has shown signs of recovery, posting an 8.29% growth rate in the second quarter of 2023, according to the latest data from the National Bureau of Statistics […]
Strong Growth: Tax revenue surges to N3.48 trillion in H1’23, up 17
Revenue generated from Value Added Tax (VAT) and Company Income Tax (CIT) witnessed substantial Year-on-Year (YoY) growth of 17 percent, amounting to N3.48 trillion in the first half of 2023 […]
Aradel Holdings achieves 218% revenue growth
Aradel Holdings Plc, an energy conglomerate, has experienced a substantial surge in its revenue during the first half of 2023, registering an impressive 217.6% increase to N74.5 billion compared to […]
Transcorp achieves 31% revenue growth, surpassing N82 billion mark
Transnational Corporation Plc (Transcorp), a prominent indigenous conglomerate with investments in power, hospitality, and oil sectors, has revealed significant growth in its H1 2023 financial results. According to its Unaudited […]
Airtel loses $151 million due to Nigeria’s FX rates harmonization
Airtel Africa Plc has reported a loss of $151 million resulting from the harmonization of foreign exchange rates in Nigeria. The telecom company disclosed this information in its second-quarter report […]
Nigeria and other countries contribute to 65% slowdown in Africa’s GDP growth
A recent report by McKinsey titled “Reimagining economic growth in Africa: Turning Diversity into Opportunity” reveals that Nigeria, Egypt, and South Africa were responsible for 65% of Africa’s Gross Domestic […]
Linkage Assurance Plc reports 16% growth in gross written premium
According to a statement released by Linkage Assurance Plc, the company experienced a 16% increase in its gross written premium, reaching N12.98 billion in the 2022 financial year. This achievement […]
Nigeria’s GDP growth slows to 2.31% in Q1 2023 amid cash crunch
Nigeria’s gross domestic product (GDP) experienced a year-on-year growth rate of 2.31% in the first quarter (Q1) of 2023, indicating a decline from the 3.11% recorded in the same period […]
Goodluck Jonathan calls for increased government investment in science and technology
Former Nigerian President, Goodluck Jonathan, has commended current President Muhammadu Buhari for prioritizing economic self-reliance and directing the National Agency for Science and Engineering Infrastructure (NASENI) to train 100 Bayelsa […]
Cote d’Ivoire President Ouattara projects 7.2% GDP growth in 2023
The President of Côte d’Ivoire, Alassane Ouattara, delivered his third State of the Nation Address at the Sofitel Abidjan Hotel Ivoire on April 25, 2023, highlighting the country’s resilience in […]