Dangote Refinery to Start Petrol Sales in August 2024
At a press briefing in Lagos, Dangote announced that his refinery will begin selling petrol directly to marketers starting in…
Author: ayotilewa
High yields force firms to reduce bond issuance by 98%
The value of corporate bonds issued by Nigerian companies plummeted by 98 percent between Q4 2022 and Q1 2024 due…
NNPC holds 7.2% stake in Dangote Refinery, not 20% – Aliko Dangote
Aliko Dangote has clarified that the Nigerian National Petroleum Company (NNPC) now holds a 7.2% stake in the Dangote Refinery,…
Banks’ Credits To Private Sector Grow By N30tr In One Year
Determined to bolster the private sector, Nigerian commercial banks have increased lending by about N30 trillion, according to a new…
Kaduna DisCo Gets New Owners
ASI Engineering Limited (ASI) has announced the acquisition of a 60% equity stake in the Kaduna Electricity Company Plc (Kaduna…
Consumer spending down as Nigerians remain gloomy on economy
Nigerians reduction in purchasing power have led to a decline in electronic payment transactions and this has been reflected in…
Equity market down as investors eye inflation, H1 earnings reports
The Nigerian Exchange (NGX) experienced continued declines last week due to profit-taking and sell pressure on highly priced stocks and…
Zenith Bank set to unveil capital-raising drive
Zenith Bank Plc is preparing to finalize its capital raising efforts to meet the Central Bank of Nigeria’s new banking…
P’Harcourt refinery undergoes licensing, minister defends rehabilitation exercise
The Port Harcourt Refining Company has completed mechanical work and received crude oil, but its operational start is delayed pending…
CBN drops BDC operators in $123m sale
The Central Bank of Nigeria (CBN) excluded Bureau De Change (BDC) operators from its latest forex sales, amounting to $122.67…
Taiwan president thanks Micron CEO for his trust in Taiwan
Taiwan President Lai Ching-te recently expressed gratitude to Micron’s Chief Executive Sanjay Mehrotra for the company’s ongoing investment and trust…
Japan households’ inflation expectations heighten, quarterly survey shows
Nearly 90% of Japanese households expect prices to rise in the next year, according to a quarterly Bank of Japan…
US lawmakers raise worries about China in Microsoft deal with Emirati AI firm
Republican lawmakers have requested an intelligence assessment from the Biden administration on Microsoft’s $1.5 billion investment in UAE-based AI firm…
Australia to bring anti-scam law targeting internet giants this year, regulator says
Australia plans to introduce a law by the end of the year requiring internet companies to proactively prevent scams or…
BIPC Seeks $500m UNHCR-IFC For IDPs Sustainability
The Benue Investment and Property Company Limited (BIPC) has proposed a business model to leverage a $500 million grant from…
FG To Invest In Made-In-Nigeria Vehicles, Transmit To CKD Assembly
The Director-General of the National Automotive Design and Development Council (NADDC), Oluwemimo Joseph Osanipin, has announced the federal government’s commitment…
Nigeria’s oil production adds 25,000 barrels per day
Nigeria’s daily oil production increased by 25,000 barrels per day, rising from 1.251 million barrels per day in May to…
NIDF posts N8.37bn post-tax profit
The Nigeria Infrastructure Debt Fund (NIDF) reported a 15.8% increase in post-tax profit for the first half of 2024, reaching…
Honeywell, Seplat drag equity market to N188bn loss
Investors on the Nigerian Exchange Limited faced losses totaling N188 billion on Thursday, primarily driven by declines in the share…
SEC harps on investor education to drive growth
Emomotimi Agama, the Director General of the Securities and Exchange Commission (SEC), emphasized the importance of investor education during a…
NDDC to boost Niger Delta development with N1.9tn budget
The Niger Delta Development Commission (NDDC) has presented its ambitious 2024 budget of N1.9 trillion to the House of Representatives…
Senate rejects bill seeking to review forex market regulations
The Nigerian Senate recently rejected the Foreign Exchange (Control and Monitoring) Bill, 2024 (SB. 353), proposed by Senator Sani Musa…
FG, IOCs agree on crude supply to Dangote, local refineries
The Nigerian government and local crude oil producers have pledged to maintain a sustainable supply of crude to domestic refineries…
Amazon could face probe over treatment of UK grocery suppliers, watchdog says
Britain’s grocery regulator has warned Amazon of a possible formal investigation if it does not improve compliance with the Groceries…
AI frenzy takes Taiwan’s TSMC to record peak, puts it in trillion dollar club
TSMC reached a record high in its second-quarter revenue, driven by strong demand for AI applications. The world’s largest contract…
Exclusive: In lithium industry first, IBAT commercializes new extraction technology
International Battery Metals (IBAT) has achieved a significant milestone in the clean-energy transition by becoming the first company to commercially…
Housing crisis in Spain’s cities drives rise in homelessness as tourism booms
Francisco Carrillo, a 62-year-old pensioner, finally found relief as he moved into a charity-provided apartment in Madrid after three years…
Nigeria’s regional trade declines, ranks 4th behind SA, Cote d’Ivoire, Egypt
Three years into the African Continental Free Trade Area (AfCFTA) agreement, Nigeria has experienced a decline in its intra-African trade.…
NERC Reels Out New Sanctions For DisCos
The Nigerian Electricity Regulatory Commission (NERC) announced new sanctions for Distribution Companies (DisCos) failing to meet specific contractual obligations with…
Global Regulators Tighten Rules On Banks Outsourcing Services
The Basel Committee of banking regulators has proposed that bank board directors take ultimate responsibility for managing the risks associated…