Foreign direct investments withdrawal will continue in Nigeria – EIU
The Economist Intelligence Unit (EIU) has issued a report stating that indigenous oil companies acquiring assets from international oil companies…
Category: investment
Saudi Aramco’s Dividend Payouts Exceed Nigeria’s Budget
Saudi Aramco, the majority state-owned oil firm of Saudi Arabia, announced a significant dividend payout of $97.8 billion in 2023,…
Foreign Investor Eyes LivingTrust Mortgage Bank
LivingTrust Mortgage Bank Plc is set to receive a significant boost with a foreign investor eyeing a 7% stake in…
Vitafoam Nigeria Plc Shareholders Approve N1.95 Billion Dividend
At the 62nd Annual General Meeting (AGM) of Vitafoam Nigeria Plc in Lagos, shareholders unanimously approved the company’s initial declared…
AfDB President Unveils $25 Billion Agriculture Investment Plan
Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), is committed to tackling Africa’s food insufficiency challenge head-on. He…
Airtel Buys Back 991,861 Shares from Citigroup
Airtel Africa recently made a significant move in the stock market by purchasing nearly 992,000 units of its shares valued…
Delta State Government Partners with UK Firm for Mangrove Restoration Project
The Delta State Government recently finalized an agreement with a United Kingdom firm and other partners to restore mangrove forests,…
AVA Global Asset Launches 20bn Fund for Infrastructure Development
Ava Global Asset Managers Limited, a member of the AVA Capital Group, is launching a N20 billion fund as part…
UK Officials Seek Investment Opportunities in Nigeria
The UK Minister for Business and Trade, Kemi Badenoch, alongside the Prime Minister’s Trade Envoy to Nigeria, Helen Grant, is…
Dangote Refinery Among World’s Top 8 Largest Refineries
Nigeria’s Dangote Refinery, boasting a production capacity of 650,000 barrels per day, has earned a prestigious rank among the globe’s…
Bank of Industry to Administer N200bn Fund to Buisinesses
The Federal Government has entrusted the Bank of Industry (BOI) with a N200 billion fund aimed at bolstering businesses nationwide.…
Benin Republic’s Dollar Bond Oversubscribed, Raises $750m
Benin Republic successfully issued its first-ever dollar-denominated bond, raising a substantial $750 million. The bond offering witnessed overwhelming investor interest,…
Tullow Oil To Plan Temporary Halt in Ghana Drilling Operations
Tullow Oil, in collaboration with its Joint Venture Partners, is gearing up for a temporary suspension of drilling operations in…
IFC’s Invests $2 Billion Across Sectors in Nigeria
Sergio Pimenta, the Regional Vice President for Africa at the International Finance Corporation (IFC), revealed that the institution’s investments in…
World Bank’s Managing Director to Embark on Visit to Nigeria
Anna Bjerde, the Managing Director of Operations at the World Bank, is poised to undertake a pivotal two-day engagement in…
Shell PLC Returns $23bn to Shareholders
Shell Plc, in a statement released by its Chief Executive Officer, Wael Sawan, announced that it returned $23 billion to…
FBN Holdings Reports N309bn Profit
FBN Holdings, in its Unaudited Consolidated Financial Statements for the period ended December 31, 2023, announced a substantial profit of…
Dangote Refinery: NIMASA Foresees Revenue Decline
The Nigerian Maritime Administration and Safety Agency (NIMASA) has projected a decrease in revenue following the commencement of operations by…
CBN Clears Foreign Airlines’ Unpaid Claims
The Central Bank of Nigeria (CBN) announced that it has settled outstanding payments owed to foreign airlines operating in the…
GlaxoSmithKline Reports 33.76% Profit Decline
GlaxoSmithKline Consumer Nigeria Plc witnessed a significant 33.76% decline in profit, dropping to N510.80 million in 2023 from N771.15 million…
Geregu Power Plc Proposes N8 Dividend per Share
Geregu Power Plc’s board of directors has announced a proposed dividend of N8 per share for the 2023 financial year.…
NNPC Engages South Korea for Gas Projects
The Nigerian National Petroleum Company Limited (NNPCL) has initiated discussions with a South Korean consortium led by Daewoo E &…
Dangote Refinery Plans to Import Crude from the US
In anticipation of potential supply disruptions that could jeopardize its operations, Dangote Refinery is preparing to import crude oil from…
Nigerian Domestic Stock Transactions Surge to N1968.4bn YTD, Foreign Investors Remain Cautious Amid Forex Challenges”
Domestic transactions on the Nigerian Exchange Limited have soared to N1968.4 billion year-to-date, surpassing the entire value of transactions by…
Stock Market Buzz: FBN Holdings, Japaul, UBA, and More Drive Active Trading Frenzy
In a dynamic trading session, the Nigerian stock market witnessed high activity, with FBN Holdings, Japaul Gold, UBA, Access Corporation,…
Surge in BUA Foods and Dangote Sugar Stocks Sparks Market Rally, Adding N324 Billion to Market Capitalization
The Nigerian stock market kicked off the week on a positive note as renewed investor interest in key stocks like…
Auditor-General Raises Concerns Over Non-Performing Investments in NSSF
The Auditor-General has flagged non-performing investments totaling Sh630.3 million in the National Social Security Fund (NSSF), a State-controlled entity in…
Binance Shuts Down Fiat-to-Crypto Platform Amidst Crypto Market Fluctuations
Binance, a prominent cryptocurrency exchange, has announced the closure of its fiat-to-crypto payments platform, Binance Connect. This decision comes as…
NSIA, Beating the Odds With Higher Investments and Better Financial Results
As a means of encouraging Nigerian inventors and technopreneurs to develop solutions that address real-world problems with a worldwide applicability,…
FIRS and NCDMB Offer a 20% Tax Refund to Encourage Investment in the Oil Business.
Oil and gas businesses seeking to lower their tax obligations and increase profitability by investing in R&D are being offered…