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FG negotiates 30 percent discount for airport cab passengers
The Federal Government through its Presidential Compressed Natural Gas Initiative (P-CNGI) has signed agreements with Airport Taxi Operators and 800 cabs for a 30% discount for passengers on the Nnamdi Azikiwe…
Naira devaluation, subsidy removal weakens business confidence in Nigeria – Report
Business confidence in Nigeria has declined sharply due to the impact of naira devaluation and the removal of fuel subsidies, a new report by Standard Bank’s Africa Trade Barometer has revealed. The Africa Trade…
Aso Rock Visit: What I Told Tinubu – Dangote
President of Dangote Group, Aliko Dangote, has opened up on the discussion with President Bola Ahmed Tinubu at the Presidential Villa, Abuja, on Tuesday. Dangote met with President Tinubu with other members of the…
Nigeria consumes 50 million litres of petrol daily — NMDPRA
The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has disclosed that the country’s daily petrol consumption ranges between 45 million and 50 million litres. The Chief Executive Officer of…
Moniepoint valued at $1 billion as Google, others invest $110 million
Nigerian fintech, Moniepoint, has secured a $110 million investment from multiple investors including Google, bringing its valuation to $1 billion and giving it a unicorn status. The Series C investment was led…
BREAKING: NNPC Increases Fuel Price Again, Sells For N1025/Litre In Lagos
The Nigeria National petroleum company (NNPC) has increased fuel price in Lagos again. Checks by us at some of the company’s station in Lagos revealed that the fuel now…
Local Content: Dangote Cement, Ibese Plant Enhances Skills of Local Business Operators
The management of Dangote Cement's Ibese Plant has reaffirmed its commitment to advancing its local content policy, aiming to stimulate the economies of its 17 host…
Ghana to import petroleum products from Dangote refinery ‘to reduce prices’
The Ghana National Petroleum Authority (NPA) says it is considering buying petroleum products from the Dangote Petroleum Refinery once…
Pressure mounts on naira, falls to N1,740 in parallel market
There are indications that the local currency is set to fully reverse its gains as the depreciation trend enters a new height, hitting N1,740/$1 in the parallel market at the close of trading last weekend. However,…
Rice mills in northern Nigeria shutdown as economic woes bite, govt intervention cease
Rice mills in the Northern part of the country have been shutting down on the back of an increase in production cost as well as the halt of intervention finance in the last 18 months. In the years between 2015 and…
South Africa’s ‘Pick n Pay’ to exit Nigeria after selling 51% stake in its joint venture
South African grocery retailer Pick n Pay is set to exit the Nigerian market by selling its 51% stake in a joint venture, as part of a broader restructuring strategy outside its home market, CEO Sean Summers announced…
Recapitalisation: FBNHoldings opens N150b rights issue
FBNHoldings Plc has opened its Rights Issue, offering 5.983 billion ordinary shares at 50k each, priced at N25 per share, totalling N150…
Dangote backs Tinubu’s CNG drive, invests over $280m in trucks, infrastructure
... becomes the largest operator of CNG trucks in Nigeria In a demonstration of its support for President Bola…
How US sent aircraft with medical equipment to evacuate Binance executive Gambaryan from Nigeria –…
The U.S. on Thursday deployed a plane outfitted with medical supplies to retrieve Tigran Gambaryan, an executive of Binance Holdings Limited, from Nigeria. According to The New York Times, Gambaryan left the…
Nigerians spend N327.05bn annually on petrol, diesel – NBS report
Nigerians spend a staggering N327.05 billion annually on petrol and diesel, according to a new report by the National Bureau of Statistics (NBS). The report, which was the latest Nigeria Residential Energy Demand-Side…
CBN challenges ‘N579 billion Stamp Duty’ judgment for Kasmal International, lists 17 reasons
The Central Bank of Nigeria (CBN) and the Attorney General of the Federation (AGF) have cited 17 grounds why the Court of Appeal in Abuja should quash the judgment of the Federal High Court, Abuja which ordered the…
Tolaram consolidates hold on Guinness Nigeria with appointment of new Finance Director
Guinness Nigeria Plc has announced the resignation of Mr. Emmanuel Difom as Director, Finance and Strategy and onward appointment of Mr. Mayank Kabra in his place effective on the 1st of November, 2024. In a statement on…
WEMA BANK PIONEERS NIGERIA’S FIRST LICENSED BANKING APP FOR TEENAGERS, ALAT XPLORE App
Wema Bank, Nigeria’s foremost innovative app and pioneer of Africa’s first fully digital bank, ALAT, is breaking new ground by pioneering yet another industry first;…
NGX suspension: Agip deal delayed release of financial statements, says Oando
Oando Plc says the Nigerian Agip Oil Company (NAOC) deal delayed the release of its 2023 audited financial statements (AFS).…
Dangote Refinery ships first 79.4 Million litres of Petrol by sea to domestic market — Report
Dangote Refinery has supplied about 79.4 million litres of petrol by sea to the local market, marking a significant boost to Nigeria’s…
Rep faults CBN over validity of old, new naira notes
Afam Ogene, the Labour Party caucus leader in the House of Representatives, has faulted the Central Bank of Nigeria (CBN) over its indecisiveness…
Nvidia, worth $3.53 trillion, dethrones Apple, becomes world’s most valuable company
Nvidia has seized the crown as the world’s most valuable company, briefly eclipsing Apple in a remarkable show of market dominance driven by increased demand for its advanced AI chips. This milestone shows Nvidia’s…
Foreign reserves rise to $40.2bn in October – Cardoso
Nigeria’s foreign reserves hit $40.2 billion in October 2024 from $38.4 billion reported in September. This was disclosed by Olayemi Cardoso, Central Bank governor, during an investors’ meeting in Washington DC, the…
Non-performing loans in banks hit 5.1% – World Bank
The World Bank has revealed that non-performing loans across Nigerian banks have reached an alarming 5.1 percent, according to a report. The Nigeria Development Update published by the global apex bank disclosed that…