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"N10 per litre tax on soft drinks..." are you ready?

Herconomy Updates

The Herconomy Enterprise Challenge is coming with a twist!

The Herconomy Enterprise challenge is still on, all the way into January 2022. We have an amazing twist to this year’s Challenge.

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Local Stories

N10 per litre tax on soft drinks: 15,000 direct, indirect jobs on the line — NLC, LCCI, MAN, NACCIMA

Stakeholders in the Nigerian economy have faulted the Federal Government on the introduction of excise duty of N10/liter on non-alcoholic carbonated and sweetened beverages, read more…

Enforce compulsory vaccination for LG, state workers, FG tells govs

The National Primary Healthcare Development Agency has urged state governments to step up mass vaccination against COVID-19 as part of moves to combat the virus. Read more…

Kukah’s invitation: Summon Gumi for hobnobbing with bandits, Christian youths tell DSS

Christian youths under the aegis of the Christian Association of Nigeria (Youth Wing) said on Sunday that they would mobilise to join the Catholic Bishop of Sokoto Diocese, Matthew Kukah, in appearing before the Department of State Services. Read more…

FG issues Lassa fever alert, death toll hits 102, cases now 4,632

The Nigeria Centre for Disease on Sunday gave a fresh warning over Lassa fever cases, which it said had risen to 4,632 and recorded 102 deaths. Read more…

International Stories

Queen's Platinum Jubilee: Celebration plans unveiled by Buckingham Palace

Buckingham Palace has unveiled the full line-up of celebrations to mark the Queen's Platinum Jubilee this year. Read more…

Aung San Suu Kyi: Ousted Myanmar leader jailed for another four years

A court in Myanmar has sentenced ousted leader Aung San Suu Kyi to four more years in prison, in the latest of a series of trials.

She was convicted for the illegal possession and import of walkie-talkies and breaking Covid-19 rules. Read more…

Novak Djokovic: Judge orders immediate release of tennis star

The judge hearing Novak Djokovic's challenge to an order by the Australian government revoking his entry visa has dramatically overturned the decision. Read more…

Tech Updates

Creditclan wants to end bulk payments and make life easier for Nigerians – CEO, Femi Bejide

Making bulk purchases and payments are always a pain in the neck, especially when you are an employee or self-employed, read more...

African startups raised $1 million every 2 hours in 2021 — Africa: The Big Deal

Even to a casual observer, 2021 was a massive year for the African tech ecosystem. It was the year when there were more disclosed funding rounds than we could keep up with. Read more…

Business Matters

Nigeria’s private sector borrows N5.16 trillion from banks in 11 months 2021

Private sector credit rose to a record high of N35.31 trillion as of November 2021, representing N5.16 trillion net new loans between January and November 2021. Read more…

The cryptocurrency industry saw $25.1 billion in investments from venture funding

The cryptocurrency space saw a lot of interest from asset managers and venture capital organizations in 2021, which translated to a significant amount of investment made in the space during the year 2021. Read more…

Capital importation falls by N1.68tn – CBN

Foreign investors appear to have boycotted the Nigerian market as capital importation has dropped by $4.08bn (N1.68tn) in one year, latest statistics have shown. Read more…

Senate probes N14.7bn PHCN privatisation fund in secret accounts

The Senate Committee on Public Accounts has begun investigation of N14.7bn proceeds of privatisation of the defunct Power Holding Company of Nigeria allegedly hidden in commercial banks by the Bureau of Public Enterprise. Read more…

FG loses N1.474tn to 222 terminal shutdowns in 10 months

Nigeria’s crude oil earnings were depleted by about N1.474tn between January and October 2021 due to various concerns at terminals that prevented the production of  50.788 million barrels of oil during the 10-month period. Read more…

Africa’s billionaire, Aliko Dangote gains N177 billion in 2021 as cement shares rally by 4.94%

Aliko Dangote, the chairman of the Dangote Group, raked in a total of N177 billion from his Dangote Cement Plc stake in 2021, as investors rallied up Dangote Cement Plc shares to appreciate by 4.94% year on year. Read more…

CBN says FG’s excessive borrowing frustrates monetary policy

The Central Bank of Nigeria (CBN) has stated that excessive borrowing by the Federal Government from the CBN’s Means and Ways Advances window could frustrate CBN’s monetary policy. Read more…

Metro

Oromoni: Lagos chief coroner fixes Jan 15 for inquest

Lagos State  Chief Coroner, Justice Mojisola Dada, has fixed January 15, 2022, for the commencement of inquest into the cause of death of Sylvester Oromoni, a 12-year-old student of Dowen College, Lekki, Lagos. Read more…

Bob Saget: US actor and comedian found dead aged 65

The US actor and comedian Bob Saget, best known for starring in the sitcom Full House, has died suddenly aged 65, his family has announced. Read more…

Commercial bus driver stabs lover’s husband to death in Ogun

Operatives of the Ogun State Police Command have arrested a 38-year-old man, Daniel Udoh, for allegedly killing one Emaka Umonko, the husband of a woman with whom he was allegedly having a secret love affair. Read more….

Quote of the Day

“Never let the fear of striking out keep you from playing the game.”– Babe Ruth