Business

Nigeria’s billionaire investor Femi Otedola has issued an official statement giving reasons for his recent acquisition of shares in Dangote Cement, one of Nigeria’s largest companies. In a press release seen by…

For those who know Nigeria’s billionaire businessman Femi Otedola, he doesn’t like taking second seat when it comes to any investment of interest. He had tried taking the front seat from the Odukalas in FBN Holdings…

Nigeria’s foreign exchange (forex) reserves have risen to $33.25 billion amid optimism that the country…

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has continued to elevate its global standing, coveting several prestigious international awards,…

The Presidential Enabling Business Environment Council (PEBEC) has revealed that out of 345 companies with a turn over revenue of $1 billion in Africa (N1 trillion using official exchange rates), only 23 are in…

The Nigerian investment landscape maintained positive profits for investors in 2023, from the various capital market instruments to mutual funds. According to the data from the Securities Exchange Commission (SEC), the…

On Sunday, the Nigerian National Petroleum Company Limited announced its intention to utilize the $3.3 billion loan obtained from the African Export-Import Bank to meet its operational needs and pay upfront tax and…

In this exclusive interview on Channels Television, the Chairman of Presidential Tax and Fiscal Policy Reform, Taiwo Oyedele, says area boys can be trained for tax collection and paid decent salaries to forsake their old…

Samira Mensah, a credit analyst at S&P credit rating agency has stated that Nigerian fintechs do not pose any challenge to top-tier banks across the country. She stated this during an interview on CNBC Africa where…

•Say refinery will change business dynamics in downstream sector With production reportedly ongoing at the 650,000 barrel- per- day capacity…

Nearly one week following its $12.5-billion agreement to acquire Global Infrastructure Partners (GIP), the renowned infrastructure investment fund…

The value of Nigeria’s non-oil export revenue recorded a marginal decrease to $4.5bn in 2023, the Nigerian Export Promotion Council has said.…

The Securities and Exchange Commission and the Federal High Court have approved the plan of Glaxo Smith Kline Consumer Nigeria Plc to buy back its…

Management of Dangote Petroleum Refinery has commenced registration of distributors for the lifting and distribution of refined petroleum products across the country. So far, members of three prominent…

The Central Bank of Nigeria (CBN) is set to hold its first Monetary Policy Committee (MPC) meeting under the new Governor,  Mr. Olayemi Cardoso. The meeting is scheduled to hold on February 26 and 27. To this end, the…

Creditors of the popular burial ground, Ikoyi Vaults and Garden, Lagos, have taken ownership of the facility and all its appurtenances. This is according to a Caveat Emptor notice put on the entrance gate seen by Peoples…

Unilever Nigeria says it has stopped production and sales of home care and skin cleansing products — 10 months after the company announced plans to exit both markets. The company disclosed this in its unaudited interim…

The Central Bank of Nigeria’s (CBN) three-year battle with its foreign exchange backlog seems nearing its endgame, with loans and inflows offering a glimmer of hope. Yet, while the temptation to simply “throw money at the…

Heineken Lokpobiri, the minister of state for Petroleum Resources (Oil), has said that the Nigerian government was not against the sales of Shell assets, stating that the government remains committed to fostering a…

Power distribution companies (DisCos) in Nigeria have been given the green light by the regulator to buy electricity directly from producers of the commodity after over 10 years of relying on an intermediary called…

Billionaire investor Femi Otedola is reportedly acquiring shares in Dangote Cement, according to sources with knowledge of the matter.  Dangote Cement is among the SWOOT (Stocks Worth Over One Trillion) with a current…

For a moment in the NGX, Dangote Sugar Plc became the second Aliko Dangote-owned company to cross the N1 trillion market capitalization level.…

Africa’s richest man Aliko Dangote is swiftly recovering from his $3.6 billion wealth setback in 2023. In just 17 days of 2024, he has already regained over…

CBN to continue settlement of verified FX backlog There was more worry yesterday over the foreign airlines’ trapped funds now estimated at $812m with a stakeholder in…