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Herconomy Updates

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We will be starting our very first Herconomy Conversations this week and we are super excited to have you all join us Live on our Instagram page this Thursday by 6 pm!

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Local Stories

Cost of cooking gas hits N8,500, highest in over 3 years

The cost of purchasing a 12.5kg cylinder of household cooking gas in Nigeria has increased to N8,500, as at March... READ MORE

National convention: Aregbesola, Lai’s allies, aggrieved chieftains’ supporters dump APC

The crisis rocking the All Progressives Congress in at least 12 states has not abated despite the conclusion of the party’s national convention and the charge by the President, Major General Muhammadu Buhari (retd.), for unity, read more…

Olejeme’s N1.3bn NSITF fraud adjourned as accused reportedly slumps

The trial of former Chairman of Nigeria Social Insurance Trust Fund, Ngozi Olejeme, before Justice Maryam Aliyu of the Federal Capital Territory High Court, Jabi Abuja could not continue on Monday because the defendant allegedly slumped at home. Read more…

Lagos mother fights off suspected ritualist attempting to abduct kids

A suspected ritualist, Temitayo Olafisoye, has been arrested after a failed attempt to kidnap some pupils of a private school on Omole Estate in the Ojodu area of Lagos State. Read more…

International Stories

Ukraine seeks cease fire agreement with Russia after one month of war

The talk with Russian negotiators is with the goal of improving the humanitarian situation that has caused several Ukrainian residents to flee their homes. Read more…

Tech Updates

Nigeria’s CredPal secures $15M in debt and equity to scale its BNPL product across Africa

The adoption of buy now, pay later (BNPL) in Nigeria as a payment option both online and at the point of sale is expected to record a CAGR of 20% from 2021 to 2028, per this report. BNPL’s gr... Read more…

Business Matters

Russia-Ukraine war: Soaring shipping costs may worsen inflation in Nigeria, others, IMF warns

THE International Monetary Fund has said rising shipping costs as a result of the ongoing war between Russia and Ukraine may worsen inflation in Nigeria, and other nations in the world. Read more…

Naira falls across FX markets as supply surges to $202.1 million

The exchange rate between the naira and the US dollar closed at N416.5/$1 at the official Investors and Exporters (I&E) window. Read more…

Elon Musk: World’s richest billionaire gains $19 billion as Tesla stock breaks above $1,000

As investors position on Tesla's stock split, Tesla's shares were up more than 8% at the end of the Monday trading session in New York at $1,091. Read more…

Nigeria’s domestic debt service gulps N2.1 trillion in 2021

Nigeria spent a sum of N2.05 trillion on domestic debt service as debts rose by N3.49 trillion in 2021. Read more…

Edo attracts $531.2m oil palm investment in nine months – Govt

THE Federal Government has hailed the Edo state government’s sustained collaboration and investment in the agricultural sector. Read more…

Abuja DisCo MD, Bada, resigns, as former Eko DisCos MD, Adeoye takes over

The Interim Managing Director, Abuja Electricity Distribution Company (AEDC), Akinwumi Bada, has reportedly resigned from his position. Read more…

Telcos warn of disruptions in 11 states over Kogi’s clampdown

THE Kogi State Government through its Kogi State Internal Revenue Service agency has shut down a number of critical telecommunications sites in the state in a bid to force telecom operators to pay more taxes and levies. Read more…

Metro

Anthony Anderson’s wife, Alvina Stewart, files for divorce after 22 years

Stewart is demanding spousal support from the 51-year-old actor and comedian. Read more…

Domestic violence: Lil Frosh and girlfriend settles as she withdraws case from court

The rapper was arrested in 2020 for beating his girlfriend to a pulp. Read more…

Will Smith apologizes to Chris Rock and Academy

The actor says violence in all its forms is poisonous and destructive. Read more…

Quote of the Day

"Share your smile with the world. It's a symbol of friendship and peace."
—Christie Brinkley