Reps summon NNPC, Agip, NUPRC, others over alleged $72m diversion
The House of Representatives Committee on Public Petitions has summoned the managing director and senior management staff of Nigeria AGIP…
Month: June 2024
Shell to acquire Singaporean LNG firm Pavilion Energy from Temasek
Shell has announced its acquisition of Singaporean LNG company Pavilion Energy from Temasek, aiming to bolster its leadership in the…
NATO targets AI, robots and space tech in $1.1 billion fund
The NATO Innovation Fund (NIF) has confirmed its first investments, allocating part of its €1 billion fund to four European…
Toyota Re-elects Chairman Akio Toyoda despite certification scandals
Toyota’s Chairman Akio Toyoda, along with nine other board members, was re-elected at the automaker’s annual general meeting on Tuesday.…
Ekpo Woos Canadian Businesses, Investors to Nigeria’s Gas Sector
Nigeria’s Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, emphasized the necessity of global partnerships, innovation, and a collective…
Adrian Wood Returns to Nigeria, Moves to Rebrand Ntel with Fresh Investors
Adrian Wood, former CEO of MTN Nigeria, has re-entered the Nigerian telecom industry as the new Chief Executive Officer of…
New Report Says Nigeria’s Liquefied Natural Gas Expansion Drive Faces Severe Future Risks
Nigeria’s ambitious plans to expand its Liquefied Natural Gas (LNG) projects, including the notable Train-7 initiative, face significant risks, according…
Universities Scotland says 20% decline in int’l student market reduces subsidized tuition for domestic students
Universities Scotland has raised alarms over the potential 20% reduction in international student numbers, warning it could significantly hinder the…
Nigerian Box Office set to hit N10 billion revenue in FY2024
The Nigerian box office is on track to reach an unprecedented N10 billion in revenue from cinema ticket sales and…
NEPZA Offers Duties Waiver, Tax Holiday To Startups In Free Trade Zones
The Nigeria Export Processing Zones Authority (NEPZA) has announced new measures aimed at retaining foreign businesses and startups within Free…
Amid $12bn Loss To Cyberattacks, Financial Stakeholders Decry Rising Threats
Financial experts have urged for innovative solutions to counter the escalating threat of cyberattacks, aiming to bolster confidence in banking…
Airtel Launches Submarine Cable, Taps Network International For Payments Processing
Airtel Telesonic, the wholesale division of Airtel Africa, has achieved a significant milestone by activating the 2Africa Submarine Cable System.…
Wemabod gets new MD
Wemabod Limited has announced a leadership transition with the appointment of Bashir Oladunni as the new Managing Director and Chief…
LBS, Stanbic IBTC Advocate Corporate Sustainability
Lagos Business School (LBS) and Stanbic IBTC Holdings emphasized the need for businesses to integrate environmental sustainability into their corporate…
AfDB to match Italy’s $150m concessional loans for Africa
The African Development Bank (AfDB) has announced its commitment to match the $150 million in concessional loans and grants from…
Import duty: FG summons 80 private jets owners over operating papers
The Nigerian Customs Service (NCS) has launched a new initiative aimed at cracking down on operators of improperly imported private…
Chinese investors’ rush for offshore assets spurs Hong Kong wealth inflows
Wealthy Chinese investors are increasingly turning to Hong Kong investment products, such as insurance and high-yield time deposits, to safeguard…
China’s factory output disappoints, property sector stuck in doldrums
China’s economic data for May revealed a mixed picture, with industrial output growth slowing to 5.6% year-on-year, below expectations, while…
Dangote refinery achieves double Nigeria’s 11-yr power output
Over the past eleven years, Nigeria has only managed to add 760 megawatts (MW) to its national grid, increasing its…
Morning Bid: Buoyant US eyes French angst, China home woes
Wall Street stocks and bonds maintained stability following a dynamic macroeconomic week, despite concerns over French political instability and a…
Oil steady as downbeat Chinese data offset demand hopes
Oil prices remained steady on Monday as mixed Chinese economic data tempered hopes for increased demand during the northern hemisphere’s…
Goldman Sachs raises S&P 500 year-end target to 5,600
Goldman Sachs has increased its 2024 year-end target for the S&P 500 Index to 5,600, up from a previous target…
Shares stable, euro downtrodden as political turmoil saps market mood
Shares stabilized on Monday as European stocks partially recovered from last week’s losses, with the euro remaining weak amid ongoing…
SK Group to protect affiliates from hostile takeover after chairman’s divorce ruling
South Korea’s SK Group Chairman, Chey Tae-won, addressed concerns on Monday about the potential impact of his recent divorce payment…
At Toyota shareholder meeting, all eyes on level of support for chairman
Toyota Motor Corporation’s Chairman, Akio Toyoda, is expected to secure re-election at the automaker’s annual general meeting (AGM) despite recent…
Murray-Bruce, Omokri support Fidelity Bank, urge Nigerians to buy its stock
Former Senator Ben Murray-Bruce and ex-presidential aide Reno Omokri have both expressed strong endorsements for Fidelity Bank, encouraging Nigerians to…
Nigeria’s FX reserves stablise at $33.16bn amid inflation surge
Nigeria’s foreign exchange (FX) reserves have demonstrated remarkable stability, holding firm at $33.16 billion, which signals economic steadiness despite rising…
Changan posts 3.29% rise in May sales, gets more popular in Nigeria
Chinese automaker Changan Automobile reported a modest increase in May sales. According to a production and sales report released on…
FG sets 9-month timeline for 2024 oil block licensing round
In a significant shift from previous practices, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has established a nine-month timeline for…
Growth Stack wins tech award
Growth Stack has been honored as Africa’s most trusted software development company of the year by the African Brand Congress.…