Daily Juice
Five top Nigerian oil marketers spend N17.2 billion on employee costs in H1 2022
Herconomy Updates
We Are Live on Android and iOS🎉
Our Herconomy app is now live on Android and iOS to make saving much easier for you!
Head on to the Google play store and iOS App store to download the app NOW!
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Herconomy X Google
Is the state of the economy affecting your business? Concerned about the increasing exchange rate? Do you want to power your business to the next level?
Then apply for the Google Hustle Academy Business Bootcamp
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Herconomy Lightbox Session
Despite dwindling resources, economic downtimes and inflation, have you ever wondered how some millennial women manage to remain comfortable and enjoy a level of wealth? We’ve got you!!!
Join us this Thursday 18th August 2022 as our speaker Oler Oladele (founder of the Money Wits Club) lets us in on the Financial Secrets of the Wealthy Millennial Woman.
Please save the date on your calendar so you don’t miss it!!!!
Click on the link below to register.
Tech Updates
Microsoft opens the US, and Canada job opportunities for fresh graduates from Nigeria, and other African countries
Microsoft has announced employment opportunities for fresh graduates from Nigerian universities and other African countries. Specifically, the company is looking for software engineers from across Africa to join its US and Canada team. Read more…
Meta warns Android users of new malware hiding in WhatsApp, and YouTube apps
Meta, owners of Facebook, Messenger, Instagram, and WhatsApp has raised an alarm over a dangerous new malware strain hiding in bogus YouTube and WhatsApp apps. The company in its latest Quarterly Adversarial Threat Report 2022, said the new Dracarys malware is being injected into fake versions of popular apps such as WhatsApp and Youtube. Read more…
Unity shares drop 7% after board rejects acquisition by AppLovin
Unity shares tumbled 7% on Monday after the video game software company’s board rejected a bid to be acquired by AppLovin. Read more…
Tech Companies That Have Made Layoffs in 2022
Tech companies have been hogging the headlines in 2022, although perhaps not for the reasons they would like. Aside from legal tussles over acquisitions and endless data breaches, we've also seen layoffs in the tech industry. Read more…
Business Matters
Power intervention fund jumps to N2.9trn
The Federal Government’s intervention fund to the electricity distribution companies has risen to N2.9trn, from N2trn recorded as of May this year. Read more…
Fuel subsidy hits N1.593tn, refinery rehabilitation gulps N54.66bn
The latest data on the amount spent on subsidising Premium Motor Spirit, popularly called petrol, seen in Abuja on Monday showed that the government subsidised the commodity with N1.593tn between January and June 2022. Read more…
BoI disburses N1.2tn to enterprises in six years
The Bank of Industry said it disbursed over N1.2tn to 4,205,920 enterprises and created over 9,048,444m estimated direct and indirect jobs between 2015 and 2021. Read more…
The official exchange rate closes at N430/$1 as FX supply surges by 190% to $134.30 million
The exchange rate between the naira and the US dollar closed at N430/$1 at the Investors and Exporters (I&E) window, where forex is traded officially. Read more…
Bond issuances on Nigerian Exchange hit N2.5 trillion in H1 2022
The Federal Government and corporate Issuers’ confidence in the capital market have continued to firm up as bond issuances in the first half (H1) of 2022 on Nigerian Exchange Limited (NGX) grew to over N2.5 trillion, NGX has said. Read more…
Oil prices slump by 5% on weak China economic data, expected Iran supply
Crude oil prices slumped on Monday due to disappointing economic data from China, the world’s largest crude importer and second-largest crude consumer. Read more…
Five top Nigerian oil marketers spend N17.2 billion on employee costs in H1 2022
Seplat Energy, Total Energies, and Ardova led the list of oil marketers in Nigeria with the highest personnel expenses in the first half of the year. Read more…
Quote of the Day
“I don’t run away from a challenge because I am afraid. Instead, I run towards it because the only way to escape fear is to trample it beneath your foot.”
—Nadia Comaneci