Petrol price hike: NLC cries foul, threatens strike
The Nigeria Labour Congress (NLC) has called on the federal government to immediately reverse the recent increase in the price…
Category: Business
Sovereign Trust Insurance pays N1.9bn claims in H1
Sovereign Trust Insurance Plc has reported disbursing N1.9 billion in claims during the first half of 2024. The payouts, covering…
Power generation hits 5,313MW, first time in three years
Nigeria’s power generation surged to a three-year high of 5,313 megawatts on Monday, according to the Federal Ministry of Power.…
Air cargo demand rises by 13.6% – IATA
The International Air Transport Association (IATA) reported a 13.6% increase in global air cargo tonne-kilometres in July 2024 compared to…
Virgin Atlantic begins Accra-London flight
Virgin Atlantic has announced the re-launch of its daily flights between Accra, Ghana, and London Heathrow, starting May 1, 2025.…
Oando director resigns
Oando Plc has announced the resignation of Mr. Tanimu Yakubu as a non-executive director, following his decision to undertake a…
World stocks tiptoe, dollar holds as investors await US data
World stocks held steady on Tuesday while the dollar remained near a two-week high as investors awaited crucial U.S. economic…
EV firm Polestar taps former Stellantis finance executive as CFO
Polestar announced the appointment of Jean-Francois Mady, a former Stellantis finance executive, as its new CFO, following the recent replacement…
Cathay Pacific inspections find 15 A350s need engine parts replaced
Cathay Pacific Airways announced it has inspected its entire Airbus A350 fleet after a critical engine component failed during a…
Asian markets slip amid economic worries
Asian markets fell on Tuesday as investors anticipated the upcoming U.S. jobs report, which is expected to influence the Federal…
‘It’s falsehood,’ FG denies ordering NNPC to raise fuel price
The Federal Government has refuted claims suggesting that the Ministry of Petroleum Resources ordered the Nigerian National Petroleum Company Limited…
NGX, UNIMAID Sign Strategic Partnership to Promote Capital Market Education
The Nigerian Exchange (NGX) and the University of Maiduguri (Unimaid) have signed a Memorandum of Understanding (MoU) aimed at bridging…
PremiumTrust Bank posts N47.8b gross earnings
PremiumTrust Bank achieved gross earnings of N47.80 billion and a profit before tax of N14.10 billion in 2023, as announced…
Nigeria’s manufacturing sector plunges as GDP contribution declines by 20.95% in 6 months
Nigeria’s manufacturing sector has seen a significant decline in its contribution to the nation’s GDP, dropping by 20.95% in the…
Equities market resumes September bullish, investors gain N123bn
The Nigerian equities market kicked off September on a bullish note, with investors’ wealth growing by N123.45 billion due to…
DMO opens September bonds offer with 18.2% interest
The Federal Government of Nigeria, through the Debt Management Office (DMO), has launched its September 2024 Federal Government of Nigeria…
UK’s Aviva conspired to dodge India compensation and tax rules, agency says
The Indian tax agency has accused British insurer Aviva of breaching local regulations on sales commissions through a scheme involving…
Oil prices face pressure from slow China demand and inventory rise
Oil price forecasts for 2024 have been downgraded due to weak fuel demand from China, the world’s top importer, and…
Manufacturing grows by 1.28%
In the second quarter of 2024, Nigeria’s manufacturing sector recorded a year-on-year growth of 1.28%, according to the latest Gross…
OVH Acquisition: CAC dissolves NNPC retail, Nueoil
The Corporate Affairs Commission (CAC) has dissolved NNPC Retail, the downstream arm of the Nigerian National Petroleum Company Limited (NNPC),…
NCC uncovers 100,000 SIM cards linked to one individual
The Nigerian Communications Commission (NCC) has uncovered a shocking case where over 100,000 Subscriber Identification Modules (SIM) cards were linked…
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…
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…
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…