NNPC absorbing actual costs of petroleum products, says Tonye Cole
Tonye Cole, co-founder of Sahara Group, has highlighted the significant pressure on the Nigerian National Petroleum Company (NNPC) Limited due…
Year: 2024
Concerns as Emirates opens ticket booking in dollars
Stakeholders in Nigeria’s travel industry have expressed concern over Emirates’ decision to price tickets on Nigerian routes in U.S. dollars…
Africa’s poverty is man-made, not an act of God – Obasanjo
Former Nigerian President Olusegun Obasanjo recently highlighted the man-made nature of poverty in Africa, emphasizing that the continent has the…
NUPRC rejects Shell’s $1.3bn onshore asset sale to Renaissance
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reportedly rejected Shell International Plc’s proposed sale of its onshore assets to…
Birkenstock misses profit estimates as expansion plan hits margins
Birkenstock missed quarterly profit expectations, with its shares dropping 12% in premarket trading. The German sandal maker’s global expansion and…
China will not impose anti-dumping measures on EU brandy, for now
Beijing has decided not to impose provisional tariffs on European Union brandy despite finding that it was sold below market…
Exclusive: US government funding yielded hundreds of patents for China-based researchers
Research funded by the U.S. Defense Department, NASA, and other government agencies has resulted in over 1,000 U.S. patents granted…
Aviation minister signs MoU with Boeing to facilitate aircraft acquisition
Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, signed a strategic Memorandum of Understanding (MoU) with Boeing to advance…
Nigeria, Germany target over $500mn in energy deals in 2024
Nigeria and Germany plan to surpass last year’s $500 million in energy deals by targeting even larger agreements in 2024.…
Nigerian oil grades maintain premium status, Cast light on economy
Nigeria’s Brass River, Bonny Light, and Qua Iboe crude oils have surged above the Brent Crude benchmark due to supply…
BREAKING: Currency outside bank drops to N3.66 trillion in July, biggest fall in 2024
In July 2024, the amount of currency outside Nigeria’s banking system decreased to N3.66 trillion, marking a 3.32% drop from…
EKEDC disconnects power supply from UNILAG
Eko Electricity Distribution Company (EKEDC) has disconnected the University of Lagos (UNILAG) from the power supply because of unpaid electricity…
Nigeria, Belgium deepen bilateral ties
The Nigerian Ports Authority (NPA) and the Kingdom of Belgium have agreed to strengthen their bilateral relationship to boost efficiency…
Nigeria, Benin Republic open dry port trade office in Kano
Nigeria and Benin Republic have jointly opened the Tsamiya Dry Port Trade Office in Kano State to enhance regional trade…
Elumelu: Tenure limit for bank CEOs inspired Heirs Holdings formation
Tony Elumelu, Chairman of Heirs Holdings Group, revealed that the Central Bank of Nigeria’s (CBN) 2010 policy limiting bank CEOs’…
Govt sets Sept 14 deadline for SIM-NIN linkage
The Nigerian Communications Commission (NCC) has announced a new deadline for all mobile subscribers to link their SIM cards with…
Gas suppliers seek end to multiple taxation
The National Oil and Gas Suppliers Association of Nigeria (NOGASA) has called on the Federal Government to tackle the issue…
NEPC reports $2.7bn in non-oil exports half year 2024
Nigeria’s non-oil exports generated $2.7 billion in the first half of 2024, reflecting a 6.26% increase from the $2.5 billion…
TGI Foods SPV launches N25bn commercial papers
TGI SPV Plc, a special purpose vehicle created by Tropical General Investments Group, has launched N25 billion in Series 1…
Without structural gaps, Nigeria’s GDP will grow by 5% – IMF
*The International Monetary Fund (IMF) stated that Nigeria’s economy, currently growing at 3.19%, could reach a 5% growth rate by…
External auditors to examine NNPC N2.6tn subsidy claim
The Federal Government of Nigeria is set to hire an external auditor to verify the N2.7 trillion fuel subsidy claim…
Reps promises to pass bill on electricity theft
The Chairman of the House of Representatives Committee on Privatisation and Commercialisation, Hamisu Ibrahim, announced plans to collaborate with other…
AMCON set to sell Ibadan Disco
The Assets Management Corporation of Nigeria (AMCON) plans to sell the Ibadan Electricity Distribution Company (IBEDC) to investors capable of…
Recapitalisation: ASHON accuses banks of sidelining stockbrokers
The Association of Securities Dealing Houses of Nigeria (ASHON) has accused banks of bypassing licensed stockbrokers in the ongoing bank…
Zuckerberg says Biden administration pressured Meta to censor COVID-19 content
Meta CEO Mark Zuckerberg has stated that senior officials from the Biden administration pressured his company to censor certain COVID-19…
Canada to impose 100% tariff on Chinese EVs, including Teslas
Canada has announced plans to impose a 100% tariff on imports of Chinese electric vehicles (EVs) and a 25% tariff…
UBS Wealth Management raises odds of U.S. recession to 25% from 20%
UBS Global Wealth Management has increased the likelihood of a U.S. recession to 25% from 20%, pointing to a weakening…
US to award HP $50 mln for semiconductor tech project
The U.S. Commerce Department announced plans to award $50 million to HP to expand and modernize its existing facility in…
Sony to raise PlayStation 5 price by 20% in Japan
Sony announced a 20% price increase for its PlayStation 5 (PS5) console in Japan, citing global economic fluctuations and a…
Stock deals jump 44% on banks’ recapitalisation
In the first seven months of 2024, Nigerian equities market transactions increased by 44% compared to the same period in…