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My story, by Akinwumi Adesina

Akinwunmi Adesina, President of the African Development Bank has offered a stout defence of himself against allegations by whistleblower believed to be the American executive director at the bank. The US government through the Secretary of…

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Businessday Investigates

LEFT TO SUFFER (II): From Boko Haram’s Bedroom Plaything To IDP Camps’ Forgotten Citizens

In the second part of this series, IBRAHIM ADEYEMI tells the story of women who regained their…

Short Takes

Explainer: Why Nigeria’s Voluntary Offshore Assets Regularisation Scheme matters

Last Friday, President Muhammadu Buhari signed an amendment to Executive Order…

Here are Nigeria’s four best-performing sectors in Q1’2020

In the first three months of 2020, the Nigerian economy reported its worst…

Here are ten major points to know about how Ardova Plc in first quarter 2020

Figures from Nigeria’s listed downstream firm Ardova Plc has revealed how the…

FG Releases New Post Covid-19 Protocol for International Flights

Nigerian Civil Aviation Authority (NCAA) has released COVID-19 Pandemic Public Health Protocols for Nigerian based…

US Coronavirus deaths top 100,000, worst in the world

“We have it totally under control,” President Donald Trump said the day after the first U.S. Covid-19 case was…

COVID-19: Nigeria records 389 new cases, as total infections rise to 8733

The number of confirmed coronavirus cases in Nigeria increased by 389 to 8733 on Wednesday, data from the Nigeria…

Start-Up Journal

Fostering Productive Entrepreneurship Communities

Entrepreneurs play a critical role in cities and nations as they create new jobs, generate economic growth, and…

DBN sets up credit guarantee company to boost lending to MSMEs

The Development Bank of Nigeria (DBN) has set up a Credit Guarantee Subsidiary in order to push more lending to the…

Maduka to compete with world’s leading entrepreneurs in Monaco

Cosmas Maduka, founder and president of Coscharis Group of Companies, a leading Nigeria’s indigenous conglomerate,…

Lockdown weighs on SMEs as margins fall on inter-state restrictions

Measures taken to curb the spread of coronavirus may be timely and inevitable, but they are also hurting small…

Sponsored

Aston University Offers Between £3000 – £8,000 Scholarship to…

Aston University, one of UK’s most prestigious University is still accepting applications for September 2020.…

Nile University Ensures Education Continuity Amid COVID-19 Pandemic

Following the arrival of the COVID-19 pandemic in Nigeria and the realization that the country would need to go on…

Axxela achieves landmark 5 million LTI-Free man-hours

May 4, 2020 (Lagos, Nigeria) — Axxela Limited (“Axxela”), sub-Saharan Africa’s preferred fast-growing gas &…

GroupFarma cultivates 2,500 hectares of premium rice

Groupfarma, a brand owned by Timesellers Limited, an Agritech Company, is cultivating a total of 2,500 hectares of…

OIL PRICE CRASHES, ECONOMY IN TURMOIL

Explainer: Why has the pump price of diesel remained same despite oil…

Within the past three months, the oil market has been hit by the twin combination of a price war among producers…

Oil faces stuttering, uneven return to normality

Just one month ago, US oil prices turned negative for the first time in history. Today, oil is back above $30 a…

A Month after oil plunged into the Abyss, prices are rebounding

For the world’s most important commodity, there’s never been a month like it. Just a few weeks ago, crude oil was…

Huge glut of oil sitting on tankers shows signs of shrinking

One of the oil market’s most obvious signs of oversupply -- millions of barrels being stored on tankers all over…

PREMIUM

EDITORIAL

Nigeria’s lockdown easing must protect lives and livelihood

The persistent surge in the number of COVID-19 patients in Nigeria should prompt a proactive response to…

Nigerian scientists’ COVID-19 advances promising for Africa 

Nigeria, often derided as the big for nothing giant of Africa has made two major scientific breakthroughs since the…

A crisis not to be wasted

The confluence of COVID-19 and an oil market collapse means that our oil boom is well and truly over. We have no…

Support Nigeria’s informal sector to spur development

The COVID-19 pandemic has brought negative economic consequences in the form of job losses, threatened the…

Insight

Infograph of the week

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Highlights

Women in Business

Women in Business: Jane Amuta

Jane quit banking six years ago and ventured into private business as a fitness, health and beauty entrepreneur,…

Women in Business: Mofolusade Sonaike

Mofolusade Sonaike is the MD/CEO of Mumpreneur.ng. and Trezorlandia Limited. She is popularly referred to as the…

Abimbola Banu-Ogundere, inspiring a generation of impactful education…

Abimbola Banu- Ogundere is an education advocate and education leadership expert whose life's work is to create a…

Chika Okorafor Aneke, intentional about qualitative teaching

Chika Okorafor Aneke is re-defining what it means to be a teacher. With over 23 years of teaching and 17 years of…

Companies

Seplat says resilient amid global headwinds

Seplat Petroleum Development Company Plc, a leading Nigerian independent oil and gas company listed on both the…

Logistics platform Kobo360 poised for greater impact as founders join…

Endeavor, a mission-oriented organisation that is leading the global movement for high-impact entrepreneurship, has…

DHL acquires stake in Link Commerce for African e-commerce growth 

DHL has acquired a stake in their strategic partner company, Link Commerce, in support of growing e-commerce in…

Economy

World Bank approves $346 Million to Strengthen Resilience and Livelihoods…

The World Bank has announced its approval of $346 million in International Development Association (IDA) financing…

NASS convenes emergency sitting to discuss revised MTEF, 2020 budget

Members of the National Assembly (NASS) will be convening an emergency meeting on Thursday to begin discussions on…

Supply disruptions, structural challenges push trade sector into deeper…

The trade sector, Nigeria’s second-largest sector by output contribution, contracted sharply in three months…

Energy

NNPC is at receiving end of fuel Subsidy – Kyari

The Nigerian National Petroleum Corporation (NNPC) is at the receiving end of the fuel subsidy regime and will be…

Seplat boss sees oil prices fluctuating between $40 and $50 a barrel

Austin Avuru, chief executive officer of Seplat Petroleum Development Company Plc, has said they expect a new…

Power: Buhari orders MDAs to conclude power contracts with Siemens

Nigeria’s fledgling power sector reforms got a boast on Wednesday with President Muhammadu Buhari’s directives to…

Politics

No Man Can Stop Me From Returning As Edo Governor – Obaseki

Edo State Governor Godwin Obaseki says he is confident of returning to power as the first man of the state because…

Amotekun may not succeed except in Lagos, says former Oyo Governor,…

Although Lagos State is yet to appoint a director general for the Amotekun Corps, former Governor of Oyo State,…

Makinde inaugurates Mobile Police Unit, presents Hilux trucks for…

Governor  Seyi Makinde, on Wednesday, kicked off the celebration of his administration's first year in office with…
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Technology

Hunt for Africa’s fintech unicorn back to zero as Interswitch loses…

Lagos-based fintech company, Interswitch did not make the May 2020 Unicorn Startups List of more than 470 private…

These three Facebook projects could upend competition for businesses in…

Social media giant, Facebook has been busy in the month of May, announcing within the space of one week, three…

Google Cloud teams up with decentralised video streaming platform, Theta…

Theta Labs, a blockchain streaming video platform said it is launching on Google Cloud Marketplace following the…

COVID-19 offers Africa lifeline to play in global digital economy, experts…

The COVID-19 pandemic may have thrown a lifeline to African countries to become active participants in the emerging…

Life and Culture

Obasanjo, Abiodun, Amosun mourn as Ogun Muslims head, Orunsolu, dies at 98

Former President Olusegun Obasanjo, ex-Governor Ibikunle Amosun and Governor Dapo Abiodun of Ogun State have…

Condolences pour in for former World Court judge, Adolphus Karibi-Whyte

The rumoured death of the former World Court judge and Supreme Court Justice, Adolphus Godwin Karibi-Whyte, seems…

Eid-el-fitri: Sanwo-Olu calls for moderate  celebrations 

Lagos State governor, Babajide Sanwo-Olu has urged for moderate celebrations as the Muslims mark end of the…

Eid-el-Fitri: Gov Abiodun felicitates Muslims, urges compliance with…

Ogun State governor, Dapo Abiodun, has sent a message to Nigerian Muslim faithful as they join other…

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Market Intelligence

Zenith General Insurance’s underlying earnings surges

If Zenith General Insurance Company Limited was a quoted company, then its shares would be rallying following the…

Why CBN $100m weekly dollar sales is not enough to end dollar scarcity

After CBN announced last April that it was going to resume sales of around $100m to Small and Medium…

Despite period of volatility, Airtel Africa delivers strong earnings growth

Airtel Africa Plc is taking advantage of the country’s population growth and the need for increased connectivity…

Lagos could lose almost N133bn everyday if it implements a total lockdown

Lagos State is unarguably the most populous and prosperity city in Nigeria and accounts for up to one third of the…

Financial Times

Drug wars: how AstraZeneca overtook GSK in UK pharma

After taking over as chief executive of AstraZeneca in 2012, Pascal Soriot sent a team to a global life sciences…

Taiwan trial offers hope for restoring international travel

The Taiwanese government and Stanford University of the US are preparing a quarantine and testing regime for…

Government stimulus plans fuel further gains in global stocks

Global equities have gained further momentum as investors take heart from the easing of lockdowns and governments…

Coronavirus hit to eurozone economy set to dwarf financial crisis

The eurozone economy will shrink by 8 to 12 per cent this year as the “sudden stop of activity” caused by…

Recent

Today's E-paper

Businessday Investigates

LEFT TO SUFFER (II): From Boko Haram’s Bedroom Plaything To IDP Camps’ Forgotten Citizens

In the second part of this series, IBRAHIM ADEYEMI tells the story of women who regained their freedom from Boko…

Columnists

OIL PRICE CRASHES, ECONOMY IN TURMOIL

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Podcast

Wealth And Investing

Money Is A Tool, Not A Noose

In anticipation of this week’s article, people who follow @findreach on social media were asked to select what they…

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How Nigeria can exit COVID-19-induced economic crash

The path to Nigeria’s recovery from the massive fiscal and social crises thrown up by the collapse in oil price and…

COVID-19 seen wiping gains of Nigeria’s $5.854bn investment inflows in Q1  

The total value of capital inflows into Nigeria stood at $5.854 billion in the first quarter of 2020, representing…

COVID-19: Commuters at breaking point as transporters burden with ‘toxic’ fares  

Carless Nigerians scampering to recover aspects of their lives abruptly crushed by the COVID-19 outbreak are…

Relief for taxpayers as LIRS further extends deadline for filing annual returns to June 30

The Lagos State government has further extended the deadline for filing of annual tax returns to June 30, 2020.…

Women In Business

Women in Business: Jane Amuta

Jane quit banking six years ago and ventured into private business as a fitness, health and beauty entrepreneur,…

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More Stories

MPC cuts policy rate by 100 basis points to 12.5%

The Monetary Policy Committee (MPC) on Thursday, cut by 100 basis points the benchmark interest rate to 12.5…

Insecurity: Troops kill 600 terrorists, bandits in northern region

The Nigerian military has assured Nigerians that terrorism, banditry and other forms of criminality has seen its…

NCAA considers restarting domestic travel with five airports 

The Nigeria Civil Aviation Authority (NCAA) is currently looking at restarting domestic travel by resuming flight…

African farmers recount survival strategy amid virus impact

African farmers are the unsung heroes of the COVID-19 pandemic, and African Farmers’ Stories is a platform to let…

N10.509 trillion Appropriations Act 2020 Amendment Bill passes second reading

A Bill for an Act to Amend the Appropriations Act, 2020 to authorize the issue from the Consolidated Revenue Fund…

Food security: 10,000 Lagos farmers to benefit from World Bank assisted project

Some 10,000 farmers in Lagos State are slated to benefit from the World Bank assisted agricultural project. The…