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Business
Dangote’s $2bn Petrochemical Plant to Produce 77 Grades of Polypropylene
Dangote’s $2 billion Petrochemical Plant located in Ibeju-Lekki, Lagos State, is designed to produce 77 different high-performance grades of polypropylene in the country. With a turnover of…
Diaspora Remittances Hit $34bn as Nigerian Migrant Workers Top List
The Naira4Dollar policy of the Central Bank of Nigeria (CBN) may have begun to yield dividends as remittances from Nigerians in the Diaspora now stand at an average of $34…
Mark Zuckerberg now worth $137 billion, why Facebook is set to break $400 mark
Mark Zuckerberg, the genius behind the world’s most popular social media platform, has an estimated net worth of $137 billion. He is the youngest billionaire ever to surpass…
Ronaldo set to become Premier League’s top earner after Manchester United move
Manchester United announced yesterday via a club statement that they have completed the transfer of Portuguese forward, Cristiano Ronaldo from Juventus. The…
$2bn tax remittance: MTN Nigeria complying with payment plan, says Zainab Ahmed
Zainab Ahmed, minister of finance, budget and national planning, says MTN Nigeria has a payment plan with the Federal Inland Revenue Service (FIRS) to remit $2 billion tax…
Manchester United stocks rally on Ronaldo comeback
Manchester United, one of the world’s famous football clubs and the 4th biggest club in the world with a revenue of $698 million generated in 2020, has had its stock price rally for the…
President Buhari felicitates with Sahara Group at 25
President Muhammadu Buhari has congratulated Sahara Group on the landmark celebration of its 25 years in business. The President described the Group as a modest enterprise, which began as a…
FCMB partners Mercy Corps to uplift farmers, vulnerable people in the North East
First City Monument Bank (FCMB), the banking subsidiary of FCMB Group – one of Nigeria’s most diversified financial services groups – today, announced a partnership with Mercy Corps, a…
Apple’s Tim Cook gets $750mn bonus payout
Apple chief executive Tim Cook has received a bonus of some $750 million, reflecting his performance at the US technology giant in his 10 years at the helm, a regulatory filing showed. The Thursday filing with the…
South Africa’s Massmart to dispose 14 Game stores in Nigeria, Ghana, others
Massmart is disposing of all its general merchandise Game stores in West and East Africa as the Walmart majority-owned retailer evaluates its portfolio on the continent, its CEO said on Friday. Like its peer Shoprite…
Insurers pay N5.4b on #EndSARS riot
A total of N5.4 billion claims has been paid by insurers to Nigerians who suffered losses from #EndSARS riot that occurred last October, the Director-General, Nigeria Insurers…
Barge Operators Move One Million Containers In 1 Year
President of Barge Operators Association of Nigeria (BOAN), Edeme Kelikume Monday said about one million containers were ferried by barge in just one year by members.…
Facebook to launch digital wallet this year -Official
Facebook is ready to launch a digital wallet that would let users store cryptocurrencies, a senior company executive said in a US media interview Wednesday. David Marcus, head of…
Setting up filling stations in neighbouring countries won’t stop petrol smuggling – NNPC
The Nigerian National Petroleum Corporation (NNPC) says setting up filling stations in neighbouring countries will not stop petrol smuggling. Mele Kyari, group managing director of…
‘Tax evasion’: Tribunal orders Multichoice to pay N900bn to FIRS before hearing appeal
A tax appeal tribunal (TAT) sitting in Lagos has ordered Multichoice Nigeria Limited to pay 50 percent of N1.8 trillion to the Federal Inland Revenue Service (FIRS) over…
EFCC urges banks to ‘query’ customers’ sources of income
The Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, has urged banks in the country to investigate the sources of income of their potential customers…
Dangote Pledges to Boost Engineering in Nigeria, Bags Multiple Awards
The Dangote Group has bagged three awards given by the Nigerian Society of Engineers (NSE) in recognition of its outstanding contributions to the development of the engineering…
PIA: FG reverses exclusive petrol importation rights for Dangote, BUA
The Petroleum Industry Bill signed into law by President Muhammadu Buhari has reversed an exclusive right for holders of local refining licence to import petroleum products.…
$1 billion operational costs push private jet owners into bankruptcy
• Only 46 private jets are active, others scramble for survival • Over 45 aircraft inactive, 30 in Customs’ duty defaults • Owners boycott aviation rules to…
FG Pays $266.141m Cash Call Arrears to JV Partners in One Year, $1.464bn Outstanding
The federal government through the Nigeria National Petroleum Corporation (NNPC) was only able to pay $266.141 million out of an outstanding balance of $1.730 billion of Joint…
FG raised N350bn from Sukuk in three years – Jaiz Bank MD
Hassan Usman, managing director and chief executive officer of , says the federal government raised N350 billion from Islamic financing instrument, particularly Sukuk, in the last three years. Usman spoke when over the…
Shoprite to divest from Uganda, Madagascar — one year after exiting Nigeria
Africa’s largest food retailer, has announced plans to discontinue its operations in Uganda and Madagascar. The company expanded across Africa, becoming the continent’s leading food retailer. However, due to challenges such…
MTN Nigeria to invest over N600 billion in network infrastructure
MTN Nigeria, largest network by market share, says it will invest over N600 billion in network infrastructure over the next three years to improve telecommunications services across the country. Ernest Ndukwe, chairman of…
Nigerians in Diaspora remit $65.34bn in three years
The Nigerian Diaspora population remitted $65.34bn in three years to boost economic activities in the country, data obtained from the World Bank have shown. According to the…