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Hausa and Yoruba are currently engaged in a deadly fight at the Mile Area of Lagos and all shops are under lock and key. Witnesses told SimonAtebaNews that roads are blocked and traffic jam has started piling up. Details were still sketchy but witnesses said pandemonium started after a man’s car was hit by a […]

MTN Group released its 2015 financial results, which showed the company’s profits dropped by 50%, as the company has also set aside $600 million to cover the settlement of the fine by the Nigerian telecommunications commission (NCC). MTN also explained that financial results reflect the challenging operating environment the business experienced in the year as […]

Punch Loading of petrol improves at depots – Marketers:Petroleum products’ marketers said on Wednesday that loading of Premium Motor Spirit (petrol) had improved in some depots in Lagos. Power supply drops by 1,647MW:Power supply in the country has dropped by 1,647.88 megawatts from 4,447.88MW achieved on February 2, thereby worsening the rationing that the electricity […]Read More

The 2016 revised budget will be passed in on March 17, according to lawmakers who disclosed this on Wednesday. The controversial 2016 Budget of N6.07 trillion received a lot of public outcry after it was presented by President Muhammadu Buhari last December. Nigerians who poured through the budget saw figures beyond human comprehension. The budget […]

MTN Group has announced that it is setting aside a sum of  9.3 billion rand ($600 million) to cover payments for the fine imposed on it by the NCC. NCC was fined $3.9 billion by the NCC for Sim card related breaches and have made a part payment of $251 million. The company has been […]

Three Nigerian oil and gas exploration and production (E&P) companies are bidding for the maiden oil licensing round for oil blocks approved by the Ugandan government. The three companies were among seven prospective bidders which have been shortlisted. Here are the names of the three Nigerian companies: 1) WalterSmith Petroman Oil Limited. 2) Oranto Petroleum […]

MultiChoice announced new prices for its DStv services in South Africa recently, which will result in increases for many subscribers. The new prices will kick off on 1 April 2016, subscribers will see fees going up by 8% or more. MultiChoice usually increase prices in line with the inflation rate, but this price hike according […]

Nigerian Electricity Regulatory Commission (NERC) has announced that the power grid dropped more than 40% from its record breaking 5000mw in the past two weeks to 2,800mw due sabotage from pipeline destruction. The Commission approved the revised Multi Year Tariff Order (MYTO) for electricity Distribution Companies (Discos) last December,while earlier this year they warned that […]

Africa Internet Group, the company behind the continent’s biggest ecommerce company Jumia, has raised €225m ($245 m) in one of the biggest fundraising rounds yet seen for any Africa-focused technology company.The investment comes just weeks after the company announced that Axa, the French insurance group, had invested €75m for an 8 per cent stake in […]Read More

Nigerian stocks ended in a positive today as the All Share Index (ASI) gained 1.65% to close at 25,816.29. The gain was abit lower than the 2.25% the ASI closed at in yesterday’s trading. Banking stocks were the most traded stocks today as a total of 7 stocks were on the top 10 most traded […]Read More

By EconMatters An Analysis of the EIA Weekly Summary Report regarding the Oil Industry. Increasing Oil Imports right now are outpacing U.S. Production cuts, but the market is looking past this data metric, and focusing on increased gasoline demand numbers on a year over year basis. [embedded content] © EconMatters All Rights Reserved | Facebook […]

Authored by Cathal Haughian via TheSaker.ie, It has been our undertaking, since 2010, to chronicle our understanding of capitalism via our book The Philosophy of Capitalism. We were curious as to the underlying nature of the system which endows us, the owners of capital, with so many favours. The Saker has asked me to explain […]