SAHCO grows gross profit to N8.19bn
Skyway Aviation Handling Company (SAHCO) Plc announced a substantial growth in its gross profit, reaching N8.195 billion for the financial…
Category: Business
Nigeria’s Eurobond Issuance Plans Remain Uncertain
Nigeria’s planned Eurobond issuance has left investors and market players in uncertainty as authorities have not disclosed the timing of…
Meta Trims Office Space in Lagos after layoffs
Meta, the parent company of Facebook, Instagram, and WhatsApp, is downsizing its office space in Lagos, Nigeria, following workforce reductions…
G7 partners pledges $420-million-dollar investments for Africa as Nigeria positions
Leaders from the Group of Seven (G7) countries, along with representatives from Italy and the United States private sectors, have…
NDIC Lists Heritage Bank Assets for Sale Nationwide Following License Revocation
The Nigeria Deposit Insurance Corporation (NDIC) has announced the sale of Heritage Bank’s assets nationwide following the revocation of the…
Customs Seizes 26,950 Litres of Smuggled Petroleum Products in Lagos, Ogun States
The Nigeria Customs Service (NCS) intercepted 26,950 litres of petroleum products valued at N19 million in Lagos and Ogun States.…
World Bank, WTO, NITDA Move To Enhance Digital Trade
The National Information Technology Development Agency (NITDA), the World Bank, and the World Trade Organisation (WTO) have joined forces to…
Minister Unveils Nigeria’s Largest Syringe Manufacturer
Dr. Tunji Alausa, the Minister of State for Health and Social Welfare, has called for collaboration among stakeholders in Nigeria’s…
Minimum wage: Our agreement with FG is N250,000 – NLC, TUC
The Organised Labour has firmly stated that the only agreement it recognizes with the Federal Government regarding the national minimum…
NNPCL Calls For Establishment Of Special Court Over Crude Oil Theft
Mr. Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC), has called on the judiciary…
Money market funds grow by 14% in 5 months
In the first five months of 2024, Nigeria’s money market funds saw a significant increase of 14%, driven by investors’…
Food & Beverage West Africa Show Declared a Huge Success with Over 5,000 Exhibitors
The Food & Beverage West Africa Show, organized by BtoB Event, has been deemed a significant success with a large…
Shelter Afrique Set to Transform into Dynamic Development Bank at 43rd Annual General Meeting
Shelter Afrique Development Bank is set to undergo a significant transformation during its 43rd Annual General Meeting (AGM) in Kigali,…
Aiteo-Nembe Dispute Threatens Nigeria’s Oil Production
Nigeria’s daily crude oil production, which currently stands at 1.5 million barrels per day, is at risk of declining due…
Company Income Tax Reduced By 12% In Q1
Nigeria’s Company Income Tax (CIT) revenue fell to N984.6 billion in the first quarter of 2024, marking a 12.87 percent…
South African pay-TV group MultiChoice slides into annual loss
South African pay television company, MultiChoice Group, reported a pre-tax loss of $38 million for the financial year ending March…
Micro pension records mixed fortune as contributions decline
Despite a rise in the number of contributors to the micro pension fund, informal sector workers are reducing their contributions…
Sterling Bank partners SPPG for credential verification via blockchain tech
Sterling Bank has partnered with the School of Politics, Policy, and Governance (SPPG) to transform the verification of academic credentials…
Bitwise Predicts AI and Crypto Industries Could Add $20 Trillion to Global GDP by 2030
Bitwise Asset Management, a prominent investor in Bitcoin Exchange Traded Funds (ETF), has projected that the combined growth of the…
We secured about $5.5 billion in bank loans to build Dangote Refinery – Aliko Dangote
Africa’s richest individual, Aliko Dangote, disclosed that his company secured approximately $5.5 billion in bank loans from domestic banks across…
Banking sector remains safe, CIBN assures customers
The Chartered Institute of Bankers of Nigeria (CIBN) has reassured bank customers of the stability and security of the Nigerian…
Nigeria’s Oil Production Slumps To 1.25m Bpd In May
Nigeria’s oil production saw a downturn in May, decreasing to 1.25 million barrels per day (mbpd) from 1.28 mbpd in…
Court Stops DisCos, NERC From Hiking Electricity Tariff
A high court in Lagos has issued an interim order preventing ten electricity distribution companies (DisCos) and the Nigerian Electricity…
Company Income Tax Dips N135.4bn, VAT Grows N230bn In Q1
Nigeria’s Company Income Tax (CIT) has seen a significant decline, dropping to N984.61 billion in the first quarter of 2024,…
Uncertainty Clouds Nigeria’s Eurobond Plans
Nigeria’s plans to issue Eurobonds this year, a key strategy to strengthen government finances, are facing significant uncertainties. Initially announced…
Tolaram Splashes Over N100bn For Diageo’s 58.02% Stake In Guinness
Tolaram, a Singapore-based holding company, is set to acquire Diageo’s 58.02 percent stake in Guinness Nigeria for approximately N103 billion…
Price war on London route takes off as foreign airlines slash fares
Competition on the popular Lagos-London route has intensified, with foreign airlines significantly reducing fares. British Airways now offers economy class…
I Was Warned Against Building Refinery — Dangote
Aliko Dangote, the Nigerian billionaire behind the Dangote Group, recently spoke about the challenges of constructing Africa’s largest oil refinery…
Tinubu Approves New Leadership For National Council On Climate Change
President Bola Tinubu has appointed Dr. Nkiruka Maduekwe as the interim Director-General/Chief Executive Officer of the National Council on Climate…
Dangote Inaugurates CKD Truck Assembly Plant In Lagos
Dangote Sinotruk West Africa inaugurated a completely knocked down (CKD) truck assembly plant in Ikeja, Lagos state. The event, held…