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Business
Inflation: Manufacturers record 90.6% rise in cost of sales
Nigeria’s manufacturers are counting their losses to the drastic macroeconomic changes being executed by the Federal Government, FG. A key element of the difficulties has shown up in cost of sales with leading…
Group criticises Multichoice over discriminatory pay TV charges in Nigeria, South Africa
Save the Consumers, a Nigeria-based Non-Governmental Organisation, has condemned the recent 21 per cent price increase imposed…
Here’s why Money Market Fund is good despite declining rates
Despite declining inflation rates which have led to a drop in rates of most money market instruments, many analysts recommend Money Market Funds as a good buy for investors.…
No hiding place for violators in capital market – SEC warns
The Securities and Exchange Commission (SEC) says there is no hiding place for violators in the country’s capital market. The director-general of SEC, Emomotimi Agama, gave the warning in a notice to operators on…
Petrol marketers may sell to Nigerians in dollar if Naira-for-Crude issue is not resolved – IPMAN
The National Publicity Secretary of the Independent Petroleum Marketers of Nigeria (IPMAN) Chinedu Ukadike has said that petrol marketers may be forced to retail petroleum products in dollars following the decision of…
Tesla owners are trading in cars at record rates amid Musk backlash
Motorists appear to be eager to part ways with their Tesla vehicles, with Tesla trade-ins reaching a record high this month,…
FCMB Group Launches ‘The Power of the Group’ Campaign
FCMB Group Plc, a leading financial services holding company, has launched a new thematic campaign, The Power of the Group. At the heart of this campaign is a simple…
How Kano lost its lustre as Nigeria’s industrial hub
Once the heartbeat of Nigeria’s manufacturing sector, Kano State has suffered a dramatic industrial…
Liquidity squeeze hits demand for juicy Nigerian Treasury bills
The appetite for Nigeria’s one-year Treasury bills has been on a steady decline, despite the Central Bank of…
The rise and fall of Lagos’ Aswani market
There’s an old saying: no king reigns forever. In Lagos, Aswani Tuesday Market was once king. More than a market, it…
FCMB Opens Branch in Ogbomosho to Boost Local Economy
First City Monument Bank (FCMB) has expanded its footprint by launching a new branch in Ogbomosho. Officials say the move will boost financial inclusion and…
Nothing is impossible – Dangote tells Harvard scholars
President and Chief Executive, Dangote Industries Limited, Aliko Dangote, has urged young entrepreneurs and scholars to rise…
Air Peace Cuts Airfare On London-Lagos Route
Air Peace said it will grant N600,000 reduction in airfares to travellers who connect from cities across Nigeria to London with one additional piece of luggage. In a statement signed by the Head of Corporate…
Naira Appreciates To 1530.52/$ At Official Window
The naira appreciated by 0.16 per cent to 1530.52/$ from 1532.93/$ in the previous trading session on the Nigerian Foreign Exchange Market at the close of trading on Wednesday. Data from the Central Bank of Nigeria…
BREAKING: Dangote Refinery Announces Suspension Of Petrol Sale In Naira
Dangote Petroleum Refinery has announced suspension of sale of petroleum products in naira. This was announced in a notice sent to petroleum marketers, on Wednesday afternoon. In the notice obtained by Daily Trust,…
Nigerian Breweries takes full ownership of Heineken’s subsidiary
Nigerian Breweries Plc (NB) has completed the acquisition of the remaining 20 percent stake in Distell Wines and Spirits Nigeria Limited (DWSN). Distell Nigeria is a subsidiary of Distell International Limited —…
PENGASSAN accuses FG of aiding 11,000 Indians to secure Nigerian jobs
Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has accused federal Ministry of Labour and Ministry of Interior of disregarding established regulations in granting approximately 11,000…
BREAKING: Dangote to stop fuel supply to Nigerian market as naira-for-crude deal stalls
Dangote Refinery will stop loading petroleum products for Nigerian market as the renegotiation of the…
AGF leads senior lawyers in £15b Petro Union fraud case
Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), has led a team of senior lawyers to represent the Federal Government at a Supreme Court hearing on the Petro Union Oil and Gas…
Power sector’s liquidity crisis worsens as govt owes Transcorp N650b
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…
Global Gas escalates legal battle over Shell’s $2.4 billion divestment
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)…
DCP Zambia bags three sustainability awards
Dangote Cement Zambia, a subsidiary of Dangote Cement Plc has bagged three awards at the 6th national…
9mobile accused of blocking subscribers from switching operators
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…
Palliatives: Dangote donates 80,000 bags of rice to Lagos residents
… Sanwo-Olu says Dangote prioritize Nigerians’ welfare above profit The Aliko Dangote Foundation, (ADF) has…