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Business
GenCos, DisCos owe banks N836bn amid crisis
Power generation and distribution companies owe Nigerian banks N836.09bn amid the lingering problems plaguing the sector since it was privatised over eight years ago. This is according to the Central…
Russia sees 38% rise in energy export earnings this year – Report
Higher oil export volumes, coupled with rising petrol prices, will boost Russia’s earnings from energy exports to $337.5bn this year, a 38 percent rise from 2021, according to an economy…
Naira fights back, gains after 2-day loss to Dollar
The Naira on Wednesday appreciated against the dollar at the Investors and Exporters window, exchanging at N429.38. The figure represented a gain of 0.16 per cent compared with the N430.67 it…
Nigeria’s indecision on ExxonMobil-Seplat deal could hurt oil reform – Bloomberg
A Bloomberg report has knocked the Federal Government over what it termed a “flip-flop” in the ExxonMobil-Seplat Energy shares deal, warning that indecisiveness on the deal could hurt Nigeria’s oil reform. ExxonMobil, Delaware, USA, had…
CBN Cancels 5% Interest Rate On Covid-19 Interventions
The Central Bank of Nigeria (CBN) has reverted its earlier five per cent…
How 5G Will Usher in a New World for Nigerians – CEO, MTN Group
Following his visit to Nigeria earlier in the year,…
Britain unveils tariff-free trade scheme with Nigeria
Nigerians are set to benefit from a new trading scheme in the United Kingdom that will cut price tariffs on hundreds of everyday products exported into the country from 2023. The UK’s International Trade…
Ghana Cedi declared worst performing currency worldwide by Bloomberg
According to Bloomberg, the Ghana Cedi is currently in tatters, haven…
GTCO Autism Conference Holds on August 29th and 30th at MUSON Centre, Onikan, Lagos
The 12th edition of the…
Reps Seeks $753m Debt Reconciliation Between NPA, Terminal Operators
The Public Account Committee of…
‘Joker’ sequel stars Lady Gaga and Joaquin Phoenix are reportedly getting massive…
The "Joker" sequel, "Joker: Folie à Deux," is coming to theaters in 2024, and the stars and…
Nigeria’s Bank of Industry raises $1 billion loan for companies
The Bank of Industry (BoI) has announced the successful completion of a landmark EURO 1 billion Guaranteed Senior Loan Facility. This is to further enhance its capacity to deliver on…
Julius Berger to commission cashew processing plant in September
Julius Berger Nigeria Plc has announced that the official launch ceremony of its cashew processing plant would be held on September 10, 2022. This is contained in a disclosure signed by C. E. Madueke, the…
Official exchange rate closes at N430/$1 as FX supply surges by 190% to $134.30 million
The exchange rate between the naira and the US dollar closed at N430/$1 at the Investors and Exporters (I&E) window, where forex is traded officially. Naira depreciated by 0.09% on…
Apple iPhone 14 to hit global tech market
Apple Inc is set to unveil iPhone 14 at a yet-to-be announced date with mind blowing features. Some of the new features in the iPhone 14 model range is likely to have the most recent chipset, which would…
Travelers Groan As Economy Class On Int’l Flight Hits N1m
The paucity of forex and the inability of international airlines to repatriate their trapped funds may have taken a heavy toll on the traveling public as six hours return flight ticket to Europe…
DISCOs: BPE, CBN give banks 6 month deadline to quit
The Bureau of Public Enterprises, BPE, and the Central Bank of Nigeria, CBN, has handed down a 6- month deadline to banks which recently took over the shares of core investors in some Electricity…
What to know about the contentious $418m Paris Club consultancy fee
Nigeria’s 36 governors under the auspices of…
Old English Supermarket Opens New Outlet In Surulere
With four branches already booming and servicing its teeming…
Saudi Aramco posts $87bn profit in six months on high oil prices
Saudi Arabian Oil Company (Aramco) says its…
NNPC Ltd, Partners Resolve $9bn Dispute, Sign Pacts For 6 Oil Fields
The Nigerian National Petroleum Company (NNPC) Ltd and its partners on Friday cleared lingering disputes that attracted $9 billion contingency liability as they signed new oil production pacts for…
Nigeria’s gas flares lowest since 2012 as use increases
Nigeria’s gas flares fell the most since 2012 due to…
I declined Tesla’s offer to get raw materials from Nigeria – Minister
Speaking at a summit titled, “Leveraging Future Minerals for Sustainable Development”, Adegbite said a Tesla representative approached him at a summit in Saudi Arabia and showed interest in getting…