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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 Arabiaโs 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 NNPCโs 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 Plcโs recently concluded rights issue.
In a corporate notice filed on the Nigerian Exchange Limited on Wednesday,…
Net Forex inflow rises 70% to $42 bn
Nigeriaโs net foreign exchange inflows rose by 70.5 percent year-on-year (YoY) to $42.06 billion in the first nine months of 2024 (9mโ24) 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 nationโs…
Naira rebound seen in 2025 on higher FX inflows
โฆ 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 Africaโs 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 Refineryโs 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 Tinubuโs 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 โ CBN Report
โขAs 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
โฆ..โขFund only covers 571 vehicles at current prices
Operational modalities, including pricing and repayment plans, are factors that may thwart the…
New Year: Businesses Should Prepare For More Stress โ LCCI
The Lagos Chamber of Commerce and Industry (LCCI) has disclosed that the persistent inflation, reaching a 28-year record high of 34.60 per cent in…
$42.01bn External Reserves Can Finance Importation For Nine Months โ CBN
The Central Bank of Nigeria (CBN), on Wednesday, declared that the $42.01 billion external reserves of the country, could finance the…
Dangote Refinery Denies Liquidity Challenges, Dismisses NNPCLโs $1bn Loan Claim
The Dangote Petroleum Refinery and Petrochemicals (DPRP) has dismissed claims that the Nigerian National Petroleum Company Limited (NNPCL) used a $1 billion loan secured through a crude forward sale agreement…
2025 Budget Will Reduce Inflation To 15%, Bring Down Dollar To N1,500 โ Tinubu
President Bola Tinubu has set a N1500/dollar target in the 2025 Appropriation Bill presented to the joint session of the 10th National Assembly in Abuja on Wednesday.
According to him, the target was to enable the Federal…
Nigerian oil firm acquires Shell Petroleum Development Company
Renaissance Africa Energy Company Limited, a Nigerian oil and gas consortium, has confirmed receiving ministerial consent for the acquisition of Shell Petroleum Development Company (SPDC).
The landmark announcement,…