Category: Business

        Spotify’s royalty payments to artists from Nigeria and South Africa — its two largest African markets — reached around $59 million in 2024, marking a major boost in earnings for African musicians on the global stage. The streaming platform paid out a total of $10 billion in royalties worldwide last year, …

        Nigeria’s total public debt reached N144.67 trillion ($94.23 billion) by December 31, 2024, marking a 48.58% increase from N97.34 trillion ($108.23 billion) at the end of December 2023, according to the Debt Management Office’s latest report released on Friday, April 4. The report also shows a quarter-on-quarter increase of 1.65%, from …

      Oil prices dropped sharply this week to $65 per barrel after U.S. import tariffs and an unexpected increase in OPEC+ supply caused a $10 per barrel decline in global benchmarks. Last week, oil prices rose after U.S. President Donald Trump imposed tariffs on countries importing crude from Venezuela. However, by Friday, prices …

The Nigeria Customs Service (NCS) has taken a significant step towards modernizing the country’s trade facilitation system with the issuance of its first Pre-Arrival Assessment Report (PAAR) under the newly introduced B’Odogwu system. This marks the start of the nationwide implementation of the B’Odogwu (Unified Customs Management System), a cutting-edge technology aimed at streamlining Customs …

      President Donald Trump has granted TikTok a 75-day extension, avoiding an impending ban on the Chinese-owned app as its April 5 deadline approached. In a Friday post on Truth Social, his social media platform, the U.S. President highlighted an executive order that extends negotiations, framing it as a crucial step in finalizing …

      FCMB Group Plc (NGX: FCMB) has released its audited financial results for the year ended December 31, 2024, reporting a profit before tax (PBT) of N111.9 billion, reflecting a 7.1% increase compared to the previous year. The Group’s gross revenue surged by 53.9% year-on-year to N794.4 billion in December 2024, driven by …

          South Africa called for reforms to the World Trade Organization (WTO) on Friday after US President Donald Trump imposed broad tariffs, stressing that all nations must adhere to global trade rules. Trade Minister Parks Tau explained that the tariffs, including a 31% tariff on US imports from South Africa, would …

      China has announced that it will impose additional tariffs of 34% on imports from the US, in retaliation for similar duties introduced by President Donald Trump this week as part of his aggressive trade strategy. The Chinese Ministry of Commerce confirmed on Friday that the new tariffs will apply to all goods …

        The Nigerian naira experienced its sharpest decline against the US dollar this week following President Donald Trump’s announcement of new tariff policies. Official data from the Central Bank of Nigeria (CBN) revealed that the naira dropped to N1,552.53 per dollar on Thursday, down from N1,531.25 the previous day, marking a decline …

Trustcrow, a property technology firm, has unveiled its title search report and property inspection report in a bid to provide buyers with intelligence on properties for acquisition or rent. Speaking at the launch of the product on Wednesday in Lagos, Mr. Joseph Orji, the Managing Director, Trstcrow, said that the two products are its flagship. …