Business

Illiquidity has reduced our capacity utilisation to 1,000MWs, says Omogiafo The liquidity crisis in Nigeria’s power sector is worsening as Transnational Corporation Plc (Transcorp) has revealed that the Federal…

The contentious $2.4 billion divestment of Shell Petroleum Development Company of Nigeria Limited (SPDC) to Renaissance Africa Energy Holdings has taken a new turn, as Global Gas & Refining Limited (GGRL)…

Dangote Cement Zambia, a subsidiary of Dangote Cement Plc has bagged three awards at the 6th national…

A rising number of 9mobile subscribers have been unable to switch to other networks in the past month, with industry insiders alleging that the telecom operator is deliberately blocking porting requests at the…

 … Sanwo-Olu says Dangote prioritize Nigerians’ welfare above profit   The Aliko Dangote Foundation, (ADF) has…

Unconfirmed reports say there is  another explosion at an oil facility in Ogba/Egbema/Ndoni Local Government Area of the Rivers State. A source in the area alleged that the explosion happened on a Manifold…

Former Minister of Finance, Kemi Adeosun, has urged President Bola Tinubu to appoint a National Export Adviser to drive reforms and boost Nigeria’s export sector. Adeosun made the call during her keynote address at…

Google said Tuesday it will acquire cloud security platform Wiz for $32 billion, citing the need for greater cybersecurity capacity as artificial intelligence embeds itself in technology infrastructure.…

The Major Energies Marketers Association of Nigeria (MEMAN) says the landing cost of imported premium motor spirit (PMS) dropped to N797.66 per litre on Monday. MEMAN, in its daily energy bulletin, said the figure…

Justice Inyang Ekwo of the Federal High Court in Abuja has struck out the preliminary objection of the Nigerian National Petroleum Company Limited (NNPCL), challenging the competence of the ₦100 billion import license…

…MTN, FirstBank, American Embassy, others take position Eko Atlantic has become Nigeria’s most sought-after city for its high-end infrastructure, prestige and well-planned city layout as reflected in…

Former Governor of Ogun State, Senator Ibikunle Amosun, has dismissed as deliberate mischief, claims by the Chairman…

Nigeria’s inflation rate declined to 23.2% in February 2025, marking a slight drop from 24.1% recorded in January 2025, according to data reported by Bloomberg. The agency last month overhauled the consumer…

Nigerian fintech company Sycamore has appointed Oluwagbenga Magbagbeola, former Managing Director of ARM Securities, to head its asset management division. This follows the company’s acquisition of a Securities and…

The Kwara government has announced the immediate revocation of 2024 signage and billboard licences across the state. This is contained in a statement signed by Ibrahim Garba, the secretary, task force committee…

One of Nigeria’s leading non-interest banks, TAJBank, says it is finalising arrangements to raise the sum of N20 billion Mudarabah Sukuk bond to beef up its additional tier 1 capital. The chief executive officer…

The Chairman of Honeywell Group, Chief Oba Otudeko, a former Managing Director of First Bank, Olabisi Onasanya and others are discussing “settlement”  in an alleged N12.3 billion fraud case under the supervision of…

MTN Nigeria’s service revenue surged by 35.6% in March following tariff adjustments implemented in February. A report by its group office in South Africa on Monday, also said expectations for further growth in…

Justice Chukwujekwu Aneke of the federal high court in Lagos has ordered Oba Otudeko to take a plea in the charges filed against him.…

Stakeholders on the Lekki-Epe port corridor have withdrawn from the various truck parks projects due to the Lagos State Government’s inability to implement investment policies. Vanguard gathered that a lot of…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied allegations that it opposed the recent reduction in Premium Motor Spirit (petrol) prices by Dangote Refinery and the Nigerian National…

The Asset Management Corporation of Nigeria (AMCON) has revealed that it has recovered over N2.1trillion from debtors despite facing several challenges since its inception. The corporation disclosed that it currently…

Notwithstanding the ban on cryptocurrency trading by the Central Bank of Nigeria (CBN), between July 2023 and June 2024, Nigeria is said to have contributed an estimated $59 billion to the virtual currency.…

First Bank has denied allegations of fraud in a lawsuit filed by a customer, Agbai Eke, against the bank. In a statement on Saturday, the bank described the claims as “entirely unfounded and false,”attributing the…