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Business
FCMB Group Plc Announces Successful Completion of its Public Offer, raises ₦147.5 billion with 33%…
FCMB Group Plc (“FCMB Group” or the “Group”), a leading financial services group, is pleased to announce the successful…
Telecoms operators demand tariff review, to begin service shedding
The Association of Licensed Telecommunications Operators of Nigeria on Monday said its members would start service shedding, if nothing was done to increase…
Naira’s free fall threatens 2025 fiscal plan
…as CBN forex policy flops Budget rose 74% nominally but shrunk 23% in real value A tough fiscal year 2025 appears to be underway following the tall order in currency valuation which may restrict the…
Naira seen hitting N1,804/$ on 2025 volatility projections – Report
The Nigerian naira is projected to depreciate to a weighted fair value of N1,804.45 in the coming year as tendency of volatility persists. This is according to a new report by Lagos-based investment and research…
‘Everybody Loves Jenifa’ Pushes Cinema Sales To ₦1bn In One Week
Funke Akindele’s newly released movies, “Everybody Loves Jenifa” and “Alakada! Bad and Boujee”, have pushed Nigerian cinemas to record ticket sales of over ₦1 billion in one week. According to Nile Media…
Olam Group sells $1.24B stake in agri unit to Saudi investment firm
Olam Group Limited has completed the sale of a 35.43% stake in its agricultural division to Saudi Arabia’s SALIC International Investment Company for US$1.24 billion. The deal, which closed on December…
NLC hails fuel price slash by Dangote refinery
*Says it bring timely relief for Nigerians The Nigeria Labour Congress (NLC) has Dangote Refinery over the recent slashed…
MultiChoice offers three-day free access to all DStv channels
All DStv customers will have free access to all DStv channels from December 27 to 29, regardless of their current subscription package. This is…
Telecom Operators Lose N35.4bn To Fibre Cable Cuts In 1 Year
The telecom operators in Nigeria have bemoaned frequent fibre optic cable cuts, leading to a loss of at least $23m (35.4bn) in 2023. This has also caused internet outages, impacting telecom service quality in the…
The true story of how NNPC’s investment in Dangote refinery fell to 7.2% – Aliko Dangote
The chairman of Aliko Dangote Industries Limited, Aliko Dangote has told the true story of how the planned investment of state owned oil company Nigerian National Petroleum Company (NNPC) fell to a mere 7% from…
CBN disqualifies 41.65m shares in Access Holdings rights issue
The Central Bank of Nigeria has disqualified 41.65 million shares worth N822.60m in Access Holdings Plc’s recently concluded rights issue. In a corporate notice filed on the Nigerian Exchange Limited on Wednesday,…
Net Forex inflow rises 70% to $42 bn
Nigeria’s net foreign exchange inflows rose by 70.5 percent year-on-year (YoY) to $42.06 billion in the first nine months of 2024 (9m’24) from $24.66 billion in the corresponding period of 2023. Details in…
JUST IN: NNPC reduces petrol price to N965/litre in Abuja
NNPC Limited has reduced the pump price of petrol at its retail outlets in Abuja to N965 per litre, down from N1,030 per litre. Visits to NNPC retail outlets in the Central Area and Nyanya suburb of the nation’s…
Naira rebound seen in 2025 on higher FX inflows
… Lower petrol, food importation could strengthen currency The naira could see better days in 2025 as analysts project higher foreign exchange inflows into Nigeria as well as lower petrol and food…
FCMB Group Shareholders Approve N340 Billion Capital Raise
FCMB Group Plc has secured shareholder approval for a 340 billion naira capital raise. The approval, granted during an extraordinary general meeting held in Lagos…
Dangote Eying N650 Per Litre In Petrol Price War
Petrol prices in Nigeria may be headed downhill to as low as N650 per liter in the first quarter of 2025 as Africa’s largest refiner, Dangote…
Fuel to sell at N935 per litre from Monday – IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN), says the price of petrol will drop to N935 per litre by Monday in view of Dangote Refinery’s new arrangement. IPMAN said the new price was…
Naira for crude initiative has reduced prices of petroleum products – Aliko Dangote
Aliko Dangote, founder of the Dangote Group, has commended President Bola Tinubu’s naira for crude swap deal, citing its…
BREAKING: NNPC reduces ex-depot petrol price to N899/litre
The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price for Premium Motor Spirit (PMS), also known as petrol, to N899 per litre. The product previously sold at N1,020. According to the…
CBN Permits BDCs To Buy $25,000 Weekly To Meet Yuletide Demands
The Central Bank of Nigeria has granted temporary permission to Bureau de Change operators, to purchase up to $25,000 in foreign exchange weekly from the Nigerian Foreign Exchange Market, which was launched…
Christmas: Chicken Costs N25,000, Turkey N130,000
Ahead of the Christmas and New Year festivities, costs of basic food items have skyrocketed, raising apprehension among Nigerians, Daily Trust can report. This is as many civil servants, who spoke to our…
Businesses see naira depreciating this month – CBN Report
•As Consumers express pessimism on economy Nigerian businesses, while expressing optimism about the macroeconomic environment, have projected further depreciation of the naira this month and the first three months…
BREAKING: Dangote Crashes Petrol Price Below N900/Litre
Dangote Refinery has announced a significant reduction in petrol prices, with rates dropping to as low as N899 per litre for two million litres. This…
Uncertainty trails N20 billion consumer auto finance scheme
…..•Fund only covers 571 vehicles at current prices Operational modalities, including pricing and repayment plans, are factors that may thwart the…