Business

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…

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…

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…

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…

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…

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…

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…

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…

The Ghana National Petroleum Authority (NPA) says it is considering buying petroleum products from the Dangote Petroleum Refinery once…

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 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 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…