APM Terminals Recycles Used Tyres Into Footwear
Determined to tackle the issue of used tyres littering Lagos, transport and logistics giant APM Terminals has begun recycling its…
Category: Business
RT Briscoe To Raise N10bn With Investment Scheme
RT Briscoe has launched a flexible investment plan aimed at supporting its 43,000 shareholders, mostly retired individuals, to invest in…
CBN grants IMTOs naira access to boost remittances
The Central Bank of Nigeria (CBN) has announced new measures aimed at enhancing naira liquidity and increasing diaspora remittances. According…
BDC Operators Struggle with New CBN Guidelines
Bureau De Change (BDC) operators in Nigeria have yet to comply with the new operational guidelines issued by the Central…
Business registration possible in 24 hours, says CAC ambassador
The Corporate Affairs Commission (CAC) has introduced a Special Registration Portal (SRP) that enables business registration within 24 hours, according…
FBN Holdings gross earnings soared by 181% in Q1
FBN Holdings reported a significant 181.43% increase in gross earnings to N1.60 trillion for Q1 2024. Interest income contributed 60%…
Caverton Offshore loss worsens to N12bn
Caverton Offshore Support Group’s losses after tax worsened by 146.79% to N12.75 billion at the end of 2023, compared to…
High food prices persist despite N1.25tn agriculture budget
Farmers and stakeholders have criticized the rising food prices in Nigeria, despite the federal government allocating over N1.25 trillion to…
Naira sells 1,485/dollar as official forex market records $23bn
Forex turnover in Nigeria’s official market surged to $23.29 billion over six months, driven by Central Bank of Nigeria reforms.…
Aiteo resumes production at OML 29 in Bayelsa after oil leak shutdown
Aiteo Eastern Exploration and Production Company (AEEPCO) has resumed production at Oil Mining License (OML 29) in the Nembe swamp…
Airport extortion beyond aviation ministry’s control – Keyamo
The Minister of Aviation and Aerospace Development, Festus Keyamo, acknowledged that the problem of extortion by officials at Nigeria’s airports…
NNPC shifts $700m gas pipeline delivery date to August
The Nigerian National Petroleum Company Limited (NNPC) has postponed the completion date of the $700 million Obiafu-Obrikom-Oben (OB3) gas pipeline…
Nigeria Spends $15.55bn on Debt Servicing Over Five Years
The Federal Government of Nigeria spent $15.55 billion on debt servicing between 2019 and 2024, according to data from the…
Dangote accuses IOCs of plotting failure of its refinery
Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, has accused International Oil Companies (IOCs) in Nigeria…
Protests Erupt in Kenya Over New Tax Increases
Protests have erupted across Kenya following the approval of significant tax increases by lawmakers, which have proven unpopular even among…
JPMorgan wealth head sees China’s economic outlook improving
Mary Erdoes, CEO of asset and wealth management at JPMorgan Chase, expressed optimism about the bank’s business prospects in China…
First Bank of Nigeria Appoints Olusegun Alebiosu as CEO, Ini Ebong as Deputy MD
First Bank of Nigeria Limited has officially named Olusegun Alebiosu as its new Managing Director and Chief Executive Officer. Alebiosu…
FG’s deficit spending rises 8% to N1.07trn
The Federal Government of Nigeria’s deficit spending rose by 8.0% year-on-year (YoY) to N1.07 trillion in January 2024, up from…
NLNG’s $4.3bn Train-7 project reaches 67% completion
Nigeria LNG Limited has announced that its $4.3 billion Train-7 project is now 67% complete. The project has achieved 45…
FG seeks N450 billion from June 2024 bond auction
The Federal Government of Nigeria aims to raise at least N450 billion through its June 2024 bond offer, as announced…
Olufemi Otedola Becomes Largest Shareholder in FBN Holdings with New Share Purchase
Olufemi Otedola, chairman of FBN Holdings, has acquired an additional 546,674,034 shares through Calvados Global Services Limited at N21.97 per…
Africa Global Logistics Launches in Nigeria, Unveils Growth Plans
Africa Global Logistics (AGL), formerly Bolloré Africa Logistics, has officially launched in Nigeria, aiming to revolutionize the country’s logistics landscape…
WIOCC raises $41 million to expand infrastructure in Nigeria, others
The West Indian Ocean Cable Company (WIOCC) has secured $41 million in debt funding led by IFC and Proparco to…
Nigerians Living In Urban Cities Make Up 83% Of Beneficiaries Of FG’s Cash Transfer Program
The Nigerian government’s cash transfer program, supported by an $800 million World Bank loan, has reached over three million poor…
WestJet Works to Resume Normal Operations After Union Rescinds Strike Notice
WestJet Airlines is working to return to normal operations following the rescindment of a strike notice by the union representing…
Guzman Y Gomez surges 37% in hottest Australian IPO in three years
Guzman Y Gomez (GYG.AX), a Mexican food chain, delivered Australia’s best initial public offering (IPO) debut in three years, with…
Citigroup Eyes European Expansion Despite Political Instability
Citigroup (C.N) is poised to expand its business in Europe despite the continent’s political volatility, which has deterred investors, according…
Nigeria’s Petrol Prices Surge by 223% in May
Month-on-month, the price increased by 9.75%, up from N701.24 in April 2024. The report highlights that the national average retail…
Okomu Oil, Presco post 94% growth in profits in Q1’2024 amid rising inflation
The combined profit of Presco Plc and Okomu Oil Palm Company Plc soared by 94.32% in the first quarter of…
World Bank disburses $300m palliative loans, benefitting 3 million Nigerians
The World Bank has disbursed an $800 million palliative loan to assist poor and vulnerable households affected by recent government…