John Dare Okafor

1 month ago | techcabal.com | Frank Eleanya |John Dare Okafor |Sakhile Dube |Kenn Abuya

MTN Nigeria and Airtel Nigeria accounted for 57% of IHS Towers’ revenue in 2024, highlighting its heavy reliance on a handful of key customers in its largest market. Nigeria, which contributed 58.3% of IHS Towers’ total earnings, remains the dominant revenue driver for the world’s fifth-largest multinational tower company.

1 month ago | techcabal.com | Bunmi Bailey |Frank Eleanya |Faith Omoniyi |John Dare Okafor

For the first time in 13 years, Computer Warehouse Group (CWG) Plc and Chams Holding Company Plc have reported billion-naira profits owing largely to Nigerian banks upgrading their IT infrastructure and telecom companies acquiring more SIM cards. Their latest unaudited financial reports for full-year 2024 showed a 395% jump in combined after-tax profit—from ₦983.7 million in 2023 to ₦4.88 billion in 2024.

1 month ago | techcabal.com | Faith Omoniyi |Olumuyiwa Olowogboyega |Frank Eleanya |John Dare Okafor

CIG Motors, the Chinese automobile company that assembles and distributes GAC vehicles in Nigeria, has taken over operational management of LagRide, the Lagos government-backed ride-hailing company, according to three drivers familiar with the matter. The takeover marks a significant shift in LagRide’s operations as CIG Motors is expected to overhaul the vehicle financing model that has drawn criticism from drivers struggling with steep repayment plans.

1 month ago | techcabal.com | Frank Eleanya |John Dare Okafor |Ganiu Oloruntade |Kenn Abuya

MTN Nigeria, the country’s largest mobile network operator, is building its new headquarters in Eko Atlantic, joining a growing list of large firms relocating to the 10-square-kilometer city, including First Bank and Dangote Group. The United States Embassy is also developing a new diplomatic facility in Eko Atlantic, drawn by its promise of high-end infrastructure, modern office spaces, and a well-planned city layout.

1 month ago | techcabal.com | John Dare Okafor |Frank Eleanya |Ganiu Oloruntade |Kenn Abuya

The cost of making Nigeria’s staple stew has more than doubled in Lagos within a year, highlighting the deepening cost-of-living crisis in Africa’s most populous nation. According to the PricePally 2024 Stew Index Report, preparing a pot of beef stew now costs ₦17,817—soaring by 121.05% from ₦8,060 in 2023—as households grapple with surging food prices and inflation. Between 2023 and 2024, the cost of stew ingredients surged dramatically.