Business

The average price of imported high-quality loose rice has risen dramatically by 144.77 per cent over the past year, while the Federal Government delayed implementing its duty-free food policy. This information comes…

Residents and Point of Sale (POS) operators in Kano State are lamenting over cash scarcity in the state. Daily Trust reports that the problem of cash scarcity is hitting businesses and threatening survival by the…

Persistent network issues caused by electronic banking portal upgrades at some commercial banks are currently disrupting cargo clearance at Apapa and Tin-Can Ports. The disruptions have trapped many import containers…

Africa Oil Corp., a Canadian oil and gas company, has secured a significant boost to its long-term operations in Nigeria with the renewal of its Petroleum Mining Lease 52 (PML 52) for an additional 20 years. This…

Dangote Petroleum Refinery, Sunday, alleged that an international trading company has hired a depot to blend substandard petroleum products in Nigeria. The refinery said the international trading company plans to…

The Federal Government has begun the disbursement of N75bn loan to manufacturers 14 months after announcing the plan. Disbursed through the Bank of Industry at a nine per cent annual interest rate, the loan is to…

Oando Plc has released its financial result for the year ending December 31, 2023, posting a Profit-After-Tax (PAT) of N60.27 billion- a reversal from the N81.23 billion loss in the previous year. This is…

Following the ban on Nivea Black and White invisible roll-on deodorant, the German multinational company that manufactures, Beiersdorf, has said its product recently flagged by…

The Central Bank of Nigeria (CBN) says credit extended to the government by banks surged to N42.02 trillion in September 2024, representing a 78.6 percent increase from N23.52 trillion in January. Credit to the…

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Thursday revealed a new government policy that would permit Nigerians who currently hold dollars outside the formal banking system to…

The Dangote Petroleum Refinery has clarified that it has no direct business dealings with the Independent Petroleum Marketers Association of Nigeria (IPMAN) regarding the purchase of refined petroleum products. In…

To enhance its environmental sustainability initiatives in line with global best practices, Dangote Industries…

MTN Nigeria recorded a loss after tax of N514.9 billion for the first nine months of 2024, primarily attributed to naira depreciation, which increased foreign currency-denominated obligations. This is according to the…

Wema Bank Nigeria (“Wema” or “the Bank”)) has released its unaudited Consolidated Financial Statements for the period ended September 30th 2024, to the…

In the exercise of its regulatory powers, the National Insurance Commission (NAICOM) has sacked the Board and Management of African Alliance Insurance Plc, one of Nigeria’s oldest life assurance companies, following years…

MTN Nigeria Communications Plc has charted its path back to profitability after three successive quarters of loss. The telco declared a profit after tax of N4.13 billion in the third quarter of 2024. However, the…

Ghana is calling for a harmonised currency among members of the Economic Community of West African States to aid in fuel lifting from the Dangote Petroleum Refinery and other business transactions. The Chairman of…

•IPMAN, PETROAN eye refinery’s 500m PMS reserves, queues in Abuja after NNPCL’s price hike Oil marketers have again written a letter to the Dangote Petroleum Refinery expressing their willingness to buy refined…

The Federal Competition and Consumer Protection Commission has sounded the alarm on a ‘cartel’ manipulating market prices nationwide, inflating costs for goods and services despite government stabilisation efforts.…

Aradel Holdings Plc, listed on the Nigerian Exchange (NGX) Main Board on October 14, 2024, has witnessed a sharp drop in market value, with its capitalization plunging by close to N1 trillion. Initially valued at…

Nigeria’s money supply (M3) has grown by 62.8% year-on-year (YoY) in September 2024, despite the Monetary Policy Committee’s (MPC) tightening stance aimed at curbing excess liquidity to control inflation. According to…

In a bold step towards empowering Nigeria’s small and medium enterprises (SMEs), Wema Bank has launched the Wema Export Trade Academy, a groundbreaking…

Olu Verheijen, special adviser to the president on energy, says the issues around Shell’s proposed sale of its onshore assets to Renaissance, a consortium of local companies will be resolved soon. “I am sure that in short…

GTCO Plc released its third-quarter results, showing that pre-tax profits rose to N215.69 billion, compared to N105.8 billion recorded in the corresponding quarter of 2023. These third-quarter profits helped boost…