Shell Completes Crude Oil Supply to Port Harcourt Refinery
The Shell Petroleum Development Company of Nigeria Limited has announced the successful completion of the supply of 475,000 barrels of…
Category: Trade
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…
Hardship Increases over high Prices of Cooking Gas and Diesel
Nigerian households and businesses face increasing challenges due to the rising costs of essential resources such as cooking gas and…
Export Sales Increases by 77% Amid Forex Reform
Three major players in Nigeria’s consumer goods industry – Unilever Nigeria Plc, Cadbury Nigeria Plc, and Okomu Oil Palm Plc…
Foreign Exchange: Market Records $584m Increase
The official Nigeria Autonomous Foreign Exchange Market witnessed a substantial boost, reaching $584 million in foreign exchange transactions, as revealed…
Nigerians’ Foreign Expenditure Hits $98 Billion in a Decade
According to recent data released by the Central Bank of Nigeria (CBN), Nigerians have spent over $98 billion on foreign…
Trump to Impose Higher Tariffs on Chinese Goods if Re-elected
Former US president Donald Trump has declared his intention to levy additional tariffs on Chinese goods exceeding 60% if he…
NNPC Adresses Concerns on Fuel Scarcity
The Nigerian National Petroleum Company Limited (NNPCL) has addressed concerns regarding long queues at filling stations in parts of Lagos,…
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…
Banks Rush to Sell Excess FX Holdings Ahead of CBN Deadline
Commercial banks in Nigeria were in a frenzy on Thursday as they worked tirelessly to offload their surplus foreign exchange…
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…
CBN Orders Banks to Sell Excess Dollar Stock to Stabilise Exchange Rate
In a bid to stabilize Nigeria’s volatile exchange rate, the Central Bank of Nigeria (CBN) has directed Deposit Money Banks…
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…
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 &…
Exit of Burkina Faso, Mali, and Niger Threatens ECOWAS Trade Relations
The potential withdrawal of Burkina Faso, Mali, and Niger Republic from the Economic Community of West African States (ECOWAS) poses…
Nigeria-Morocco Gas Pipeline: Minister Assures Uninterrupted Supply
Mr. Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas), has provided reassurance of uninterrupted supply to the Nigeria-Morocco…
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…
NNPC and Marketers Clash Over Petrol Subsidy, PMA Proposes N1,200/Litre
Tensions have risen between the Nigerian National Petroleum Company Limited (NNPC) and fuel marketers, represented by the Independent Petroleum Marketers…
Nigeria Borrows $1.71 Billion: Impact on Exchange Rates
In the first nine months of 2023, Nigeria secured $1.71 billion in foreign loans to enhance the country’s foreign exchange…
Sahel Capital Provides Financing to S&P Agribusiness for Hibiscus Flower Supply Chain Expansion
Sahel Capital, an impact-oriented private equity firm, has extended a loan facility to S&P Agribusiness, a trading company specializing in…
Kenya Re to Exit Indian Market Amid Heavy Losses from Agricultural Sector
Kenya Re, one of Kenya’s leading reinsurance companies, is planning to exit the Indian market due to increased losses primarily…