Fatshimetrie Limited reports a petrol price reduction by the Nigerian National Petroleum Company (NNPC), offering a significant drop in the price of petrol at its petrol stations in Nigeria. Despite higher prices at independent stations, local production from the Port Harcourt and Dangote refineries is expected to stabilise prices going forward. The move is being viewed favourably as a step towards a fairer pricing structure in the Nigerian fuel market, benefiting consumers.
Category: Economy
Rising cocoa prices are causing concern among market participants. Concerns about production in Ghana and Côte d’Ivoire are fuelling this upward trend. Despite optimistic forecasts, concerns persist about the ability of these two major producers to meet growing demand. Global stocks are dwindling and pressure on supply is increasing. The coming months will be crucial to stabilise prices and ensure adequate supplies.
Fatshimetrie, a Nigerian cross-border payments startup, recently closed a $3 million funding round. Founded in 2021 by Ife Johnson and Justin Ziegler, the company focuses on converting local currencies to dollars and vice versa. With this investment, Fatshimetrie plans to strengthen its team and expand its operations in the United States, the United Kingdom, and Canada. The startup operates as a marketplace for currency conversions, facilitating international payments for businesses and individuals. With its blend of DeFi and TradFi, Fatshimetrie seeks to democratize access to cross-border financial services, providing an efficient and timely solution to the growing market needs.
The announcement by Flour Mills of Nigeria Plc marks the relaunch of the Honeywell brand, symbolizing innovation and commitment to Nigerian consumers. This bold move features a dynamic new identity, vibrant packaging and improved product quality, meeting the needs of modern Nigerian families. By focusing on tradition and innovation, the Honeywell brand offers premium quality noodles, pasta and bulk products. The relaunch is a testament to Flour Mills of Nigeria’s commitment to delivering superior quality products and meeting the expectations of local consumers, combining modernity and excellence.
The Federal Government of Nigeria is offering two new government bonds worth a total of ₦120 billion through auction in December 2021. These bonds offer attractive interest rates and aim to mobilize resources to finance the country’s development projects. Investors can diversify their portfolio by participating in these bond offerings, thereby supporting Nigeria’s economic growth while benefiting from stable long-term returns.
Belvedere Vodka has launched Belvedere 10, a premium vodka of unparalleled rarity, crafted from a unique rye. The exclusive launch party wowed select guests, offering personalized tastings and an immersive art experience. Influenced by the 1910 distillery, this exceptional spirit is the result of ten careful creation steps, resulting in a velvety texture and complex flavors. The beautiful bottle reflects the purity of the spirit, highlighting the raw elegance of Belvedere 10. A work of art in a bottle, this opulent liquid blends tradition and modernity to deliver an unparalleled sensory experience.
The article highlights President Bola Tinubu’s call for the media to support tax reforms, stressing their importance for national prosperity. Tinubu stresses the need to reduce taxes, support the most vulnerable and stimulate economic growth. The article offers a critical analysis of the reforms and highlights the challenges for citizens and the country. It also highlights the crucial role of the media in democracy and the responsibility of journalists to be ethical. Finally, it encourages an open and balanced dialogue on tax reforms to foster a better understanding of the economic and social issues.
The strike by assistants and heads of works at the University of Lubumbashi highlights the critical issues of recognition, remuneration and working conditions of teacher-researchers in the DRC. Beyond salary demands, this mobilization highlights the importance of supporting research and teaching for the development of the country. It is crucial that the government engages in constructive dialogue to find sustainable solutions and guarantee quality higher education in the DRC.
The extraordinary summit of heads of state of the Central African Economic and Monetary Community (CEMAC) is being held in Yaoundé to address the region’s major economic challenges. Rising public debt, budgetary difficulties and insufficient foreign exchange reserves are among the issues to be resolved. This summit also marks the return of Cameroonian President Paul Biya to the political scene. The success of this meeting will depend on the ability of leaders to make courageous decisions to ensure the stability and prosperity of their countries and the region.
Summary: Before the end of the year, take some time to take stock, manage your finances, celebrate your successes, and set goals for the year ahead. These crucial steps will help you close out 2024 on a high note and start 2025 with serenity and determination.