Business | NEWS RANGERS

Minister Gives Reasons Why Multinational Companies Are Exiting Nigeria

LAGOS JUNE 3RD (NEWSRANGERS)-The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has explained that multinational companies exiting Nigeria did not have a liquid foreign exchange market. According to him, the government is working on the economic and investment climate to attract more multinationals into Nigeria. The Minister stated this while fielding […]

Jun 3 2024 | Posted in Business,National | Read More »

Toyota Chairman Apologizes For Cheating On Vehicle Testing, Halts Production Of Three Models

LAGOS JUNE 3RD (NEWSRANGERS)-Toyota Chairman Akio Toyoda apologized Monday for massive cheating on certification tests for seven vehicle models as the automaker suspended production of three of them. The wide-ranging faulty testing at Japan’s top automaker involved the use of inadequate or outdated data in collision tests, and incorrect testing of airbag inflation and rear-seat […]

Jun 3 2024 | Posted in Business,National | Read More »

Harsh Economy: Another Multinational Coy Exits Nigeria After 14-Year Operation

LAGOS MAY 2ND (NEWSRANGERS)-The American multinational and makers of “Huggies”, Kimberly-Clark, has exited the Nigerian market, citing the harsh economy. The company’s decision comes after it has operated locally in Nigeria for 14 years, according to a statement issued on Friday. According to the statement, the company intended to adjust global strategic priorities and the prevailing […]

Jun 2 2024 | Posted in Business,National | Read More »

FG Tax Reform Panel Recommends N800/$ Rate For Customs Duties

LAGOS MAY 31ST (NEWSRANGERS)-The Presidential Committee on Fiscal Policy and Tax Reforms has recommended that the federal government adopt an exchange rate of N800 per one US dollar for Customs import duty. This proposal was announced by the committee’s chairman, Taiwo Oyedele, during a press briefing in Oyedele highlighted the challenges businesses face due to […]

May 31 2024 | Posted in Business,National | Read More »

How Prices Of Staple Food Doubled During Tinubu’s One Year In Office

LAGOS MAY 30TH (NEWSRANGERS)-Prices of essential food items in Nigeria surged significantly in April 2024 compared to the same period last year, according to the latest Selected Food Price Watch report from the National Bureau of Statistics (NBS). The report revealed a concerning rise in the cost of staple foods across the board. Here’s a […]

May 30 2024 | Posted in Business,National | Read More »

12 Airline Passengers Sustain Injury After Extreme Turbulence Hits Another Int’l flight

LAGOS MAY 26TH (NEWSRANGERS)-Twelve people were injured aboard a Qatar Airways plane from Doha to Dublin, Ireland, on Sunday after extreme turbulence hit another international flight. The Boeing 787 Dreamliner landed safely at Dublin Airport just before 1 p.m. Sunday. Six passengers and six crew members reported injuries “after the aircraft experienced turbulence while airborne […]

May 26 2024 | Posted in Business,National | Read More »

Eko Disco Announces New Deregulated Prices For Meter

LAGOS MAY 25TH (NEWSRANGERS)-Eko Electricity Distribution Company (Eko Disco) has announced the new, deregulated meter prices for metres deployed under the Meter Asset Provider (MAP) Scheme. The distribution company disclosed this in a statement on its official X account on Friday, revealing prices offered by six different MAP vendors for both single-phase and three-phase metres. […]

May 25 2024 | Posted in Business,National | Read More »

Alcoholic Consumers To Pay More As Breweries Announces Third Price Hikes In Three Months

LAGOS MAY 21ST (NEWSRANGERS)-In what seems to have become a monthly ritual, the Nigerian Breweries Plc has once again announced a hike in the prices of its products that would take effect from April 9, 2024, after it had made similar announcements in February and March 2024. A price review notification the Nigerian Breweries issued […]

May 21 2024 | Posted in Business,National | Read More »

World Bank Blacklists 58 Nigerian Companies, Individuals Over Corruption

LAGOS MAY 17TH (NEWSRANGERS)-The World Bank has blacklisted 58 Nigerian companies and individuals for engaging in corrupt practices, a move which comes as part of the institution’s ongoing efforts to uphold integrity and transparency in its projects and operations. Among those affected are 39 Nigerian companies previously debarred by the African Development Bank (AfDB), along […]

May 17 2024 | Posted in Business,National | Read More »

Why Dangote Refinery Is Sourcing For US Crude Oil Instead Of Nigeria Supply

LAGOS MAY 17TH (NEWSRANGERS)-Nigeria’s new Dangote mega refinery near Lagos is seeking to buy millions of barrels of US crude over the next year as it ramps up processing rates, a sign of the challenges that Africa’s largest producer faces in lifting its own oil output. The plant, built by Africa’s richest man Aliko Dangote, […]