Dangote: NNPC Made Huge Mistake By Reducing Stake in Our Refinery from 20% to 7.2%
Aliko Dangote, Africa’s wealthiest man and President of Dangote Group, has criticized the Nigerian National Petroleum Company (NNPC) for reducing…
Year: 2024
FG Offers N150bn in Bonds for September Auction with Competitive Rates
The Debt Management Office (DMO) has announced that the Federal Government of Nigeria is offering N150 billion worth of bonds…
APM Terminals Apapa sees 25% non-oil exports
APM Terminals Apapa announced a 25% increase in non-oil export throughput for the first half of 2024, handling 51,000 TEUs…
NSIA Insurance grows premium to N22.3bn
NSIA Insurance has reported a 24% growth in Gross Written Premium (GWP), rising to N22.3 billion in 2023 from N18…
Multilateral banks’ climate financing hit $125bn – AfDB
Multilateral development banks, including the African Development Bank (AfDB), have reached a record $125 billion in climate financing for 2023,…
Equity market starts week with N79bn gain
The Nigerian equity market started the week on a positive note, gaining N79 billion on Monday due to the appreciation…
Finance ministry, Customs’ bureaucracy stalls zero food import take-off
The United States Chamber of Commerce has committed $320 million toward mortgage refinancing and SME financing in Nigeria, marking a…
Tariff hike looms as monthly power subsidy hits N181bn
Dr. Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC), announced that the construction of the $3.5 billion Bakassi…
New US rules to exacerbate trade dispute with China
China has issued a warning to the United States, urging it not to take “discriminatory actions” against Chinese firms, following…
Construction of $3.5bn Bakassi seaport to begin soon – ICRC
Dr. Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC), announced that the construction of the $3.5 billion Bakassi…
Customs, SMEDAN partner to ease SMEs’ cross-border trade
The Nigeria Customs Service (NCS) is partnering with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to enhance…
$3.5bn business deals sealed at Indonesia-Africa Forum 2024
The 2nd Indonesia-Africa Forum held in Bali, Indonesia, resulted in the signing of 32 business partnership deals worth over $3.5…
Stock market sustains bullish trend
Ahead of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) meeting, the Nigerian stock market has maintained positive…
CBN Expected to Maintain Interest Rates as Inflation Declines Ahead of MPC Meeting
As the Central Bank of Nigeria (CBN) commences its 297th Monetary Policy Committee (MPC) meeting, financial analysts expect the apex…
PenCom reports over N5.72trn public sector contributions in Q2 2024
The National Pension Commission (PenCom) has reported significant growth in both public and private sector pension contributions, with public contributions…
External reserves hit 22-month high amid naira struggles
Nigeria’s external reserves have surged to a 22-month high of $37.31 billion as of September 2024, driven by significant foreign…
Cooking gas price rose by 69% in August 2024
The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has seen a significant increase in Nigeria over…
Nigerian economy to hit $400bn by 2026 – Rewane
Bismarck Rewane, the Managing Director of Financial Derivatives Company, forecasts Nigeria’s economy to grow by 3.5% by 2026, increasing the…
Dangote officials, refiners tackle marketers over imported PMS
Officials of the Dangote Petroleum Refinery and the Crude Oil Refiners Association of Nigeria (CORAN) have opposed the importation of…
FG eyes economy revamp with single-digit rates, tax incentives
The Nigerian government has introduced key economic reforms aimed at stimulating growth by reducing corporate taxes, offering single-digit interest rates,…
Why Coca-cola suspended its 5-year $1 billion investment pledge to Nigeria in 2021 – Presidency
The Nigerian presidency has clarified the reasons behind Coca-Cola’s initial withdrawal of its $1 billion investment pledge, made in 2021,…
What Exactly Is Cardoso Doing At The CBN
Yemi Cardoso is marking his first year as Governor of the Central Bank of Nigeria (CBN) amid tough economic conditions.…
11 plc, Total Energies, AA. Rano, others pay N766 to lift Dangote petrol
Petroleum marketers like 11plc, Total Energies, and AA Rano have started lifting petrol from Dangote Refinery through NNPC Trading Limited…
Jega Submits Recommendations For Livestock Reforms To Tinubu
Former INEC Chairman, Prof. Attahiru Jega, has presented a 152-page report to President Bola Tinubu, detailing recommendations for a 10-year…
World Bank to approve $1.5bn loan to Nigeria by September 26
The federal government is poised to secure a $1.5 billion loan from the World Bank, with approval expected on September…
Sterling Holdco boosts recapitalisation with N75b capital
Sterling Financial Holdings Company (Sterling Holdco) has successfully raised N75 billion to support the recapitalisation of its banking subsidiaries, including…
Nigerian Customs Apapa Command hits record N1.5 trillion revenue in 9 months
The Nigeria Customs Service (NCS) recorded significant growth in revenue with ₦277.5 billion in import duties and ₦15.8 billion in…
Canada tightens foreign worker eligibility, reduces study permit issuance by 10% for 2025
The Canadian government will reduce the issuance of study permits by 10% for 2025, lowering the cap from 485,000 in…
Over $500 million investment attracted through Public-Private Partnership projects – Infrastructure Commission
The Nigerian government, through the Infrastructure Concession Regulatory Commission (ICRC), has attracted over $500 million in investments through Public-Private Partnerships…
Dapo Abiodun announces $5 million UK battery plant investment in Ogun State
The Ogun State Government has announced the establishment of a $5 million battery recycling plant by a British company, marking…