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Reps back Dangote’s industrialisation stride
Dangote Group’s industrialisation stride in Nigeria has received yet another momentum as federal lawmakers back the company’s stride. Members of the House of Representatives who visited Dangote Cement Plc in…
FCCPC gives businesses one month ultimatum to reduce prices, says defaulters will be penalised
The Federal Competition and Consumer Protection Commission (FCCPC) has threatened to penalise businesses involved in price fixing and gouging, issuing a one-month moratorium for them to reduce prices. Price…
OVH Acquisition: CAC dissolves NNPC retail, Nueoil
The Corporate Affairs Commission (CAC) has dissolved the downstream arm of the Nigerian National Petroleum Company Limited (NNPC Retail)…
Ethiopian Airlines no longer interested in setting up Nigeria’s national carrier – CEO…
Mesfin Tasew Bekele, the CEO of Ethiopian Airlines has said it no longer has intention to set up national carrier for Nigeria. In a video interview with Bloomberg Africa, Bekele said plans for Ethiopian Airlines…
Etuh, Danjuma acquire Notore Chemical for $150m
Thomas Etuh, founder of Tak Agro, in partnership with Theophilus Danjuma’s TY Holdings, has acquired Notore Chemical Industries Plc in Onne, Rivers State, for $150 million, BusinessDay has learnt. Tak Agro is a key…
CBN lifts suspension on bank borrowing, sets 31.75% lending rate
The Central Bank of Nigeria (CBN) has lifted its suspension on bank borrowing from its Standing Lending Facility (SLF). Following the 296th Monetary Policy Committee (MPC) meeting, the apex bank has set the…
South Africa’s Johan Rupert overtakes Dangote as Africa’s richest man
South Africa’s luxury goods tycoon Johann Rupert has become Africa’s top billionaires, overtaking Nigeria’s Aliko Dangote, who has lost the prime spot. The 74-year-old controls the world’s largest luxury…
ENI-Oando ‘speedy’ approval questions lingering divestments
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has come under scrutiny following the approval of…
NUPRC rejects Shell’s $1.3bn onshore asset sale to Renaissance
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has rejected Shell International Plc’s bid to sell its onshore assets to Renaissance in a transaction worth $1.3 billion. Sources close to the…
Concerns as Emirates opens ticket booking in dollars
Stakeholders in the travel industry have raised concerns over Emirates decision to open ticket booking on Nigerian routes in dollars, ahead of its resumption of flights in October 1. BusinessDay’s checks on…
NNPC absorbing actual costs of petroleum products, says Tonye Cole
Tonye Cole, co-founder of Sahara Group, says the Nigerian National Petroleum Company (NNPC) Limited is…
Dangote Cement Gboko Commits to Sustainable Infrastructural development of Host communities
The management of Dangote Cement, Gboko Plant has declared that its host communities are critical…
Oando’s acquisition of NAOC, product of 10 years hard work – Wale Tinubu
The Group Chief Executive, Oando Group, Jubril Adewale Tinubu, has attributed the acquisition of 100 per cent of the shareholding interest in the Nigerian Agip Oil Company (NAOC) from the Italian energy company, Eni, to…
Battle For 130-Year Old FirstBank May Impact Its Fortunes — Investors
…Boardroom Squabble Threatens N350bn Recapitalisation Plan …Shareholders Ask Parties To Sheathe Sword, Differ On CBN’s Role For FBN Holdings Plc, parent company of 130-year old FirstBank, Nigeria’s oldest…
Nigeria’s domestic dollar bond steals Eurobond shine
Jamiu Agah, a Lagos-based information technology consultant, would have had to wait 10 more years to invest in a Nigerian Eurobond start getting the best out of his dollar savings. The 33-year-old IT expert earns…
Engineers hail Dangote Petroleum Refinery as Awesome and Mind-blowing
…As company prepares for PMS rollout ...Dangote commended for hiring, nurturing Nigerian Engineers The League of engineering bodies in…
Fraud allegations against me motivated by malice, says Dozy Mmobuosi
Odogwu Mmobuosi, a Nigerian businessman, popularly known as Dozy Mmobuosi, says allegations of infractions against his business…
Unclaimed dividends: Poor identification of investors major challenge, says SEC
The Securities and Exchange Commission (SEC) says the lack of proper identification of investors is a key factor contributing to unclaimed dividends. Speaking during a recent interview, Emomotimi Agama, SEC’s…
Banks’ FX Windfall Tax: Promoting Fair Share in Wealth Redistribution
The introduction of a new windfall tax on Nigerian banks has continued to generate debate. While some have argued that the policy could hurt financial…
Dangote refinery commences petrol production test-run
The 650,000-barrel-per-day Dangote refinery is undergoing test runs for petrol production, with full operation expected by mid-September. This is according to a report by Reuters which quoted a note by industry…
Cost of living crisis eases as prices of garri, potato, tomato drop
Nigeria’s cost of living is easing for the first time since late 2022, offering an unexpected respite for households and a possibility of the Central Bank of Nigeria (CBN)’s interest rate cut in September. Monthly…
NNPC pays N140.55bn for Oando-branded retail stations, jetty, others
…provides scant information on seller The Nigerian National Petroleum…
Shareholders worry as Ownership Tussle, Fraud rocks First Bank – Share Price Plummets
Shareholders of First Bank of Nigeria (FBN) Holdings, Nigeria’s oldest financial institution, are growing increasingly anxious as recent crises and scandals have caused the company’s share price to plummet by over…
Neither Tinubu Nor His Nephew Has Interest In OVH Acquisition – NNPCL Replies Atiku
The Nigeria National Petroleum Company Limited (NNPCL) has said its investment decisions are strictly determined on the basis of commercial viability and national interest. It spoke in response to former…