Business Archives

· May 10

X says India ordered it to block 8,000 accounts or face jail for local staff

India’s government has ordered X, owned by Elon Musk, to block over 8,000 accounts within the country or face significant fines and imprisonment of local staff. The directive targets accounts linked to Pakistani politicians, media, and celebrities amid heightened India-Pakistan tensions following a deadly Kashmir terror attack. X has begun...

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X says India ordered it to block 8,000 accounts or face jail for local staff

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Business

Nairaland

· May 9

Nigeria’s Crude Oil Output Falls By 4.37% In March, Below OPEC’s Quota – Politics – Nigeria

Nigeria’s crude oil output decreased by 4.37% in March 2025, dropping to 1.401 million barrels per day, below its OPEC quota of 1.5 million bpd as reported in OPEC’s April Monthly Oil Market Report. The production shortfall is attributed to issues such as underinvestment, aging infrastructure, and widespread oil theft,...

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Economy

Legit

· May 9

Trump suggests lower China tariff, says 80% ‘seems right!’

US President Donald Trump suggested lowering tariffs on Chinese imports to 80%, down from the current 145%, with some goods facing cumulative duties up to 245%. This proposal comes ahead of trade talks in Geneva between US Treasury Secretary Scott Bessent and China’s Vice Premier He Lifeng aimed at de-escalating...

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Trump suggests lower China tariff, says 80% ‘seems right!’

Image Credit: legit

Business

Arise

· May 8

China Says Taiwan Independence is a Threat to It’s Sovereignty, Territorial Integrity

China reaffirmed that Taiwan independence threatens its sovereignty and territorial integrity, emphasizing the one-China principle as fundamental in China-Nigeria relations. Zhu Songbo, Political Section Chief at the Chinese Embassy in Nigeria, praised Nigeria’s adherence to this principle, including relocating the Taiwan Trade Office out of Abuja. Chinese officials urged Nigerian...

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China Says Taiwan Independence is a Threat to It’s Sovereignty, Territorial Integrity

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Business

Legit

· May 8

Nigerians react as Dangote meets with the Bayo Ojulari-led NNPC team

Aliko Dangote, President of Dangote Group, met with NNPCL CEO Bashir Bayo Ojulari to discuss cooperation and healthy competition between Dangote Refinery and NNPCL. The meeting marks a potential thaw in their previously tense relationship under past leadership, especially regarding the naira-for-crude deal. Both leaders expressed optimism about productive collaboration...

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Nigerians react as Dangote meets with the Bayo Ojulari-led NNPC team

Image Credit: legit

Business

Timeslive.co

· May 8

Bill Gates to give away fortune by 2045, $200bn for world’s poorest

Bill Gates pledged to donate nearly his entire fortune, estimated at $108 billion, over the next two decades, aiming to give approximately $200 billion to the world’s poorest through the Gates Foundation by 2045. The move comes amid significant cuts to international aid by governments including the US, UK, and...

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Bill Gates to give away fortune by 2045, $200bn for world’s poorest

Image Credit: timeslive.co

Business

Nairametrics

· May 8

Temu billionaire, Colin Huang is $4.37 billion richer in 2025

Colin Huang, founder of Pinduoduo and global shopping platform Temu, saw his net worth increase by $4.37 billion in 2025, reaching approximately $38.6 billion. Huang holds a 25% stake in Pinduoduo, which reported revenues of about $54.7 billion in 2024, driven by growth in both Chinese and international markets. Since...

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Business

Tori

· May 8

British High Commission Reacts To Report On Visa Restrictions For Nigerians And Others For Overstaying Their Visas

The UK Home Office identified Pakistan, Nigeria, and Sri Lanka as countries whose nationals frequently overstay visas and seek asylum. As a result, the UK may impose tougher visa conditions for work or study applications from these countries to tighten immigration controls. The British High Commission in Nigeria emphasized their...

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British High Commission Reacts To Report On Visa Restrictions For Nigerians And Others For Overstaying Their Visas

Image Credit: tori

Business

Nairaland

· May 8

How Import Waivers Are Crippling Local Rice Mills – Agriculture – Nigeria

The Nigerian federal government’s import duty waiver on rice, maize, and sorghum, intended to lower food prices and mitigate the food crisis, is adversely affecting local rice millers by making imported goods more competitive. Local millers report business closures and job losses, citing cheaper foreign rice imports, including potentially low-quality...

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Agriculture

Techcabal

· May 8

Jumia predicts profitability in 2027 as Q1 results reflect consumer gains

Jumia expects to generate enough revenue to cover operating expenses by 2027, aiming for profitability despite not accounting for taxes yet. Q1 2025 saw a 26% revenue decline mainly from Egypt’s corporate sales slump, but consumer orders increased 21%, marking the strongest growth in two years. The company improved efficiency...

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Business