Africa Targets $58 Billion Investment to Boost Oil and Gas Sector
Nigeria, Libya, and Angola are set to spearhead a forecasted $58 billion investment influx into Africa’s oil and gas upstream…
Category: Business
Consumers protest as Discos hike meter price by 28%
Nigeria’s power distribution companies (Discos) have announced a significant increase in electricity meter prices, the second hike in just four…
Regency Alliance Insurance Reports Record Profits and Growth Amid Economic Shifts
Regency Alliance Insurance Plc announced significant growth in its 2023 financial performance, with gross written premium rising to N6.017 billion,…
Nigerian Consumer Rights Agency Urges Fairness in Electricity Metering Transition
The Federal Competition and Consumer Protection Commission (FCCPC) head, Tunji Bello, has urged electricity distribution companies (DisCos) to prioritize consumer…
Sahara Group Foundation Launches MADAA Initiative to Empower African Entrepreneurs
Sahara Group Foundation has launched its “Making A Difference Around Africa” (MADAA) initiative to support emerging African entrepreneurs. This initiative,…
Nigeria Calls for Investment in Mechanized Farming to Boost Agricultural Sector
The Nigerian government is encouraging local and international stakeholders to invest in large-scale mechanized farming as part of the efforts…
NGX Halts Six-Day Losing Streak with N131 Billion Gain
The Nigerian Exchange Limited (NGX) saw a positive turnaround yesterday, with its market capitalization rising by N131 billion, ending a…
Nigeria’s Oil Minister Pushes for Industry Commitment to Boost Production and Security Measures
Nigeria’s Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, has called on industry players to support the country’s ambitious…
MTN Nigeria Seeks to Raise N50 Billion Through Commercial Paper Issuance
MTN Nigeria Communications Plc is set to raise N50 billion through a commercial paper issuance as part of its broader…
Dangote Refinery Criticizes Pinnacle Oil’s Deregulation Claims and Defends National Interests
Dangote Petroleum Refinery has responded to Pinnacle Oil and Gas Limited’s CEO Robert Dickerman’s remarks on deregulation and the importation…
APMT Apapa Says Port Delays Caused by Poor Policy Enforcement
Kayode Daniels, the Head of Commercial at APM Terminals Apapa, clarified that cargo delays at Nigerian ports are primarily caused…
FG urged to stop tax reforms move
Tax consultant Adebisi Oderinde, CEO of AOC-Adebisi Oderinde & Co, has urged Nigerian President Bola Tinubu to reconsider implementing a…
AFEX Predicts Record Food Price Surge in Nigeria by 2025
The African Exchange (AFEX) projects an unprecedented rise in Nigerian food prices for the 2024/2025 season, driven by low domestic…
Nigerian Banks Defy Predictions as Non-Performing Loans Remain Stable in 2024
Against Fitch’s prediction that Nigerian banks’ Non-Performing Loan (NPL) ratios would rise in 2024, ten major banks have kept their…
Verve Hits 70 Million Payment Cards in Nigeria and Consolidates Market Leadership
Verve International, Africa’s largest domestic payment scheme, has reached a significant milestone with over 70 million payment cards issued in…
Polaris Bank Named Best Bank for MSMEs
Polaris Bank has been recognized as the “Best Bank for MSMEs” for the third consecutive year at the Banks and…
FG Secures Indian Firm’s Commitment for Offtake of Natural Gas for $4bn Steel Plant
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has successfully negotiated a major deal with Jindal Group for…
Fiducia Harps on SMEs Supply Chain Finance to Drive Economic Growth
Fiducia Data Services Limited has unveiled its initiative to close the financing gap for Small and Medium Enterprises (SMEs) in…
Nigeria Achieves Milestone Shipment to Kenya Under AfCFTA
The Nigeria Customs Service (NCS) has successfully facilitated the first shipment from Nigeria to Kenya under the African Continental Free…
Nigerian Court Issues Arrest Warrant for Dana Air Managing Director Over Fraud Charges
A Federal High Court in Abuja has ordered the arrest of Hathiramani Ranesh, the Managing Director of Dana Air, due…
Cash Scarcity in Kano State Impacts on Residents and Businesses
Residents and Point of Sale (POS) operators in Kano State are expressing deep concern over a persistent cash shortage that…
Naira appreciates to N1,725/$ in parallel market
The Naira saw a slight appreciation in the parallel market on Monday, rising to N1,725 per dollar from N1,735 last…
Petrol Price: Marketers set to import cheaper products
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has emphasized its intention to import premium motor spirit (PMS),…
Nigeria’s economy on new investments threshold
The Nigerian Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, expressed confidence that the country’s economy…
FBN Holdings Launches N150 Billion Rights Issue to Strengthen Lending and Digital Expansion
FBN Holdings is set to raise N150 billion from its shareholders through a rights issue, offering nearly six billion shares…
Foreign Inflows Surge in Nigeria’s Forex Market Amid Currency Challenges
In a significant turnaround, the Nigerian Autonomous Foreign Exchange Market (NAFEM) has reported total inflows reaching a five-month high of…
Nigerian Shippers’ Council Saves N40 Billion and Aims for $10 Billion Investment
The Nigerian Shippers’ Council (NSC) announced significant economic savings of over N40 billion in the past year, primarily through the…
United Nigeria Airline Partners with Cronos Aviation to Establish MRO Facility and Expand Fleet
United Nigeria Airlines (UNA) has signed a Memorandum of Understanding (MoU) with Cronos Aviation, an international charter airline, to establish…
Nigeria’s Foreign Exchange Market Faces Ongoing Challenges Despite Recent Measures
Despite efforts by the Central Bank of Nigeria (CBN) to stabilize the foreign exchange (FX) market, Fitch Ratings reports that…
Beiersdorf Clarifies Discontinuation of NIVEA Deodorant Amid NAFDAC Safety Alert
Beiersdorf, the German multinational known for its NIVEA Black & White Invisible Roll-on deodorant, has responded to a safety alert…