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Senate probes $1.5bn spent on rehabilitation of Port Harcourt refinery in 2021
The Nigerian Senate has raised concerns about the $1.5 billion allocated in 2021 for the maintenance of the Port!-->…
Don’t register police insurance company — Kyari, former NAICOM CEO
Mohammed Kari, a former Commissioner for Insurance, has opposed the licensing of Nigeria Police Force (NPF)!-->…
Why CBN Injected N700bn Bailout In Unity Bank-Providus Bank Merger
The Central Bank of Nigeria (CBN) has approved a N700 billion financial package to support the merger between!-->…
Axxela, NNPC Gas Company Commission 5km Gas Pipeline
Axxela Limited, in collaboration with NNPC Gas Marketing Limited (NGML), has commissioned a 5km natural gas!-->…
CBN eases FX pressure, sells $876.26m to end-users at N1,495/$
The Central Bank of Nigeria (CBN) has sold $876.26 million at a rate of N1,495 per dollar through a Retail Dutch!-->…
MeCure reports 38% rise in revenues as cost mute profit growth
MeCure Industries PLC announced its financial results for the second quarter of 2024, revealing a slight increase!-->…
Credit to economy falls 1.5% to N102.7trn
In June, banks’ lending to the economy fell by 1.5% from May, dropping to N101.2 trillion. This decrease was noted!-->…
US, Africa Investment Summit To Hold In September
The Sub-Saharan Africa Business and Investment Summit (SSABIS) will return in September 2024, following the!-->…
TCN Blames Arcing For Loss Of Supply On National Grid
The Transmission Company of Nigeria (TCN) has refuted reports of a grid collapse on Monday. Instead, it described!-->…
Aviation Unions Seek Tinubu’s Intervention In Arik Air’s Grounding
Three major aviation unions have appealed to President Bola Tinubu for intervention in the grounding of Arik Air's!-->…
Nigeria’s NLNG dividend falls 43% on gas constraints
Nigeria's revenue from Nigeria Liquefied Natural Gas (NLNG) Limited has dropped by 43% due to persistent gas!-->…
Dangote to sell 12.5% refinery stake amid liquidity concern
The Dangote Group is considering selling a 12.5% stake in its newly commissioned refinery due to liquidity!-->…
FG unveils comprehensive strategy for economic growth, citizens’ welfare
Nigeria’s Finance Minister, Wale Edun, has outlined the federal government’s strategy to revitalize the economy!-->…
Heirs Insurance Group appoints Puri, Iroche as non-executive directors
Heirs Insurance Group (HIG) has announced the appointment of Ibrahim Puri and Sonny Iroche as independent!-->…
NNPC Announces Launch of New Crude Oil Grade, Targets 50,000bpd
NNPC Ltd has launched a new crude oil grade called Utapate into the international market. The oil is produced from!-->…
Overland Begins Lagos-Abuja Direct Flights
Starting August 9, 2024, Overland Airways will begin daily direct flights between Lagos and Abuja.
The airline!-->!-->!-->…
NCC orders telcos to simplify tariff plans
The Nigerian Communications Commission (NCC) has directed telecom operators to make their tariff plans, bundles,!-->…
Naira depreciates to N1,600/$ in parallel market
On Monday, the Naira weakened in the parallel market, falling to N1,600 per dollar from N1,590 last weekend.
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Oil/gas communities send memo to FG, IOCs, NDDC
Oil and gas communities in the Niger-Delta have presented a comprehensive agenda to the Federal Government,!-->…
BUA Cement’s pre-tax profit drops by 54% in Q1
BUA Cement’s second-quarter results for 2024 show a significant decline in pre-tax profit, falling by 54%!-->…
MTN, Airtel Cut Foreign Debt as Naira Falls
Telecommunication giants MTN Nigeria and Airtel Africa have significantly reduced their foreign exchange (FX)!-->…
Nigerians experience blackout as national grid collapses again
Nigeria's electricity grid collapsed once more on Monday, causing a nationwide blackout. The system failure, which!-->…
Businesses reopen as states contain simmering protests
On Monday, many businesses in Lagos, including popular markets like Mile 2 and government offices in Alausa and!-->…
CBN introduces Dutch auction system to tackle forex shortages
The Central Bank of Nigeria (CBN) has introduced a Retail Dutch Auction System (DAS) to address the fluctuations!-->…
African caucus calls for investments, energy access, to boost AfCFTA
The African Caucus, which includes over 50 African Ministers of Finance and Central Bank governors, has urged for!-->…
NCC Extends NIN-SIM Verification Deadline Beyond July 31, 2024
The Nigerian Communications Commission (NCC) has instructed telecom operators to extend the NIN-SIM verification!-->…
Bank directors disagree with Otedola, Elumelu on FX windfall tax
The Bank Directors Association of Nigeria (BDAN) has expressed disagreement with the views of FBN Holdings!-->…
BUA Foods Reports N672.39 Billion Revenue in First Half of 2024
BUA Foods Plc reported N672.39 billion in revenue for the first half of the financial year ending June 30, 2024,!-->…
Exchange rate for customs duties collection rises to N1,618/$
The exchange rate for the Nigeria Customs Service (NCS) duties collection has increased to N1618.73/$, up from the!-->…
Dangote Refinery: Civil Societies to Monitor Crude Sales Compliance by NNPCL
A coalition of 28 Civil Society Organizations (CSOs) announced plans to set up a situation room to monitor the!-->…