Daily Juice
Nigeria’s inflation overshoots World Bank projection by 20%
Herconomy Updates
We Are Now Live on Android
Yayyyyy! Our Herconomy app is now live on Android!
Click on the link below to download the app and don’t forget to set up your easy save, with as little as 50 naira.
Herconomy Conversations
We millennials have witnessed drastic changes in work patterns, information, technology and the economy.
These have highly defined how we relate to finances, make economic decisions and handle money.
Join us Today 18th July 2022 on Instagram with our speaker Adetoke Oluwo, a Serial Entrepreneur and Lifestyle Influencer, as we discuss how best to relate to your finances as a millennial woman.
Herconomy Lightbox Sessions
“Are we heading into a downward time in the economy?” With the recent rise in Nigeria’s inflation, we can bet this question has been on the mind of every Nigerian.
As of today Nigeria’s inflation rate is at 18.6% this is 20% above the projections of world bank, this mostly likely means another increase in the price of food items.
How can we survive this period without starving?
Join us this Thursday with, Lanre Smith, the founder and CEO of WorldBay Tech. Lanre is also an expert in the food and agriculture sector, and will be giving us some insight on the necessary steps to take in the face of rising cost of food.
Click on the link below to pre-register for this session.
Hangout With Herconomy and Bellagrace
It is going to be an evening of games, drinks and shopping with Herconomy and Bellagrace.
Enjoy saving as you spend with Herconomy as you get discounts when you shop at our open house events.
Venue: Bella Grace, 32 Opebi road Ikeja.
Date: Saturday 30th July
Time: 4 pm
Make it a date with us and stand a chance to:
Win prizes in a raffle draw.
Purchase select items for 10k flatrate!
Get 10% off all purchases.
Click on the link below to register now!
Tech Updates
Flutterwave shuts down virtual dollar card service
Fintech company, Flutterwave, has said it will shut down its virtual dollar card service also known as Barter card, effective from July 17, 2022. The company disclosed this in a message to its customers today. Read more…
Local Stories
ASUU strike: Nigeria Labour Congress to hold a 2-day nationwide protest
The Nigeria Labour Congress (NLC) has lent its voice to the ongoing industrial dispute between the Federal Government and the Academic Staff Union of Universities (ASUU) as it has announced plans to commence a 2-day nationwide protest on Tuesday, July 26, in solidarity with the ongoing strike action by the lecturers union. Read more…
Faceoff with Aregbesola cost Oyetola re-election – Minister’s faction
Members of the Osun State All Progressives Congress loyal to the Minister of Interior, Ogbeni Rauf Aregbesola, have said the state Governor, Gboyega Oyetola’s fight with them cost him his re-election. Read more…
Peter Obi congratulates Adeleke, justifies Labour Party’s performance
The Labour Party Presidential candidate, Peter Obi, has congratulated Osun State Governor-elect, Ademola Adeleke, on his victory at Saturday’s governorship election in the state. Read more…
Zamfara govt suspends emir for turbaning repentant bandit
The Zamfara State Government has suspended the Emir of Sabon Birnin Yandoto of Tsafe local government area of the state, Aliyu Garba Marafa, for turbaning a notorious repentant bandits’ leader, Adamu Aliero, as Sarkin Fulani (leader of Fulani). Read more…
International Stories
India hits 2 billion Covid-19 vaccinations as infections hit four-month high
The Indian government's Covid-19 vaccinations hit 2 billion on Sunday, with booster doses underway for all adults, as daily infections hit a four-month high, official data showed. Read more…
3 people killed and 2 injured during a shooting at an Indiana shopping mall
Three people are dead and two others injured after a shooter opened fire in the food court of a Greenwood, Indiana, shopping mall Sunday evening, police say. Read more…
Ghana confirms first cases of deadly Marburg virus
Ghana has confirmed its first two cases of the deadly Marburg virus, a highly infectious disease in the same family as the virus that causes Ebola. Read more…
More evacuations as Mediterranean wildfires spread
France has evacuated more than 16,000 people threatened by wildfires in the south-west, as fires also spread in Spain, Croatia and Greece. Read more…
Business Matters
Nigeria’s inflation overshoots World Bank projection by 20%
DESPITE raising its Monetary Policy Rate (interest rate), Nigeria’s inflation rate is now 20 per cent above the World Bank’s projection of 15.5 per cent. Read more…
Airtel pushes SWOOTs capitalization up by N316.86 billion w-o-w
The combined market capitalization of stocks worth over one trillion (SWOOTs) appreciated by 1.58% to close at N20.74 trillion from N20.41 trillion the previous week, reflecting a gain of N316.86 billion. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTNN Plc. Read more…
Crypto Venture Capital investments drop by $3.2 billion in first half of 2022
Venture capital (VC) investments in crypto companies are down 26% in the first half of the year, compared to the first half of 2021. Investments in crypto companies totalled $9.3 billion in the first six months of 2022, down from the record $12.5 billion in the first half of 2021, according to data provided by Crunchbase. Read more…
Senate orders NIMASA DG’s arrest over $9.305bn loss
THE Senate through its Panel on Public Accounts has ordered the arrest of the Director-General of the Nigerian Maritime and Safety Agency, Dr Bashir Jamoh, for allegedly paying $5mn to a legal firm as a professional fee for the recovery of a $9.3bn loss. Read more…
Crude oil price hits over $100 again
The price of crude oil climbed above the $100 mark on Sunday hitting $101.16/barrel after trading around $98/barrel since Tuesday, as oil marketers in Nigeria maintained an increased pump price for Premium Motor Spirit, popularly called petrol, higher than the approved rate. Read more…
Metro
Ada Ameh is dead
The death of the actress was confirmed by the president of the Actors Guild of Nigeria, Emeka Rollas. Read more…
Quote of the Day
“If you set goals and go after them with all the determination you can muster, your gifts will take you places that will amaze you.”
—Les Brown