Business
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Dangote Refinery slashes diesel price to N1,000 per litre
THE $20 billion Dangote Petroleum Refinery has slashed the price of diesel by 16.6 per cent to N1,000 per litre,…
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Naira appreciates to N1,080$ in black market
The Naira, yesterday, appreciated to N1,080 per dollar in the parallel market, from N1,230 per dollar last weekend. Similarly, the…
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Nigeria’s FDI fell by $19bn in 10 years – Edun
Foreign Direct Investments into Nigeria fell by $19bn in 10 years, from $22.7bn in 2014 to $3.7bn in 2023, it…
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Nigeria’s inflation increases to 33.20% in March
Nigeria’s inflation rate rose to 33.20 per cent in March 2024 from 31.70 per cent in February 2024. This was…
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China’s Q1 GDP growth tops forecasts on policy support
China’s economy grew faster-than-expected in the first quarter, data showed on Tuesday, offering some relief to officials as they try…
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NGX set to adopt technology for bank recapitalisation exercise
The Nigerian Exchange Group has said that it will be adopting technology to drive the capital-raising efforts of financial companies…
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Opay under pressure from customers over unresolved disputes
A microfinance bank, OPAY, yesterday, grappled with intense backlash after a customer, Okunola Akinropo, made waves in the aftermath of…
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Did you know these 5 billionaires lost the most money in Crypto?
From the collapse of Sam Bankman-Fried and Gary Wang’s FTX to the fall of Binance’s Changpeng Zhao, the cryptocurrency industry…
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Manufacturers express concern over high cost of diesel
Manufacturers are voicing concerns over the soaring cost of automotive gas oil (AGO), commonly known as diesel, which they rely…
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Stock Market dips N633bn as banks recapitalization mounts pressure
Investors are showing hesitancy in the stock market, particularly within the banking sector, following the Central Bank of Nigeria’s recent…
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TCN and DISCOs dispute over decrease in 20-hour power supply amid tariff hike
As frustration grows among Band A customers due to the inability of Electricity Distribution Companies (DisCos) to fulfill the promised…
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FIRS generated N12.3trillion in 2023 – CEO
The Chief Executive, Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, said that the organisation witnessed unprecedented progress in revenue…
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Fleeing Binance Executive, Anjarwalla found as FG commences extradition
Nigerian government says Binance executive, Nadeem Anjarwalla, who escaped custody in Nigeria, has been found in Kenya. A source in…
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Nigeria to provide solar subsidy for underserved areas in the national grid
The Nigerian government plans to provide subsidies to developers and operators of solar mini-grids in unserved and underserved areas via…
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Nigeria’s poor growth will weaken West Africa’s economy –W’Bank
The World Bank has said that the lower-than-average growth in Nigeria will hold back the sub-region’s economic performance. The Washington-based…
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Banks, fintechs, others lose $12bn to cyber attacks in 20 years — IMF
The International Monetary Fund (IMF) has said that financial institutions across the world lost a sum of $12 billion to…
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New electricity tariff may drop if naira keeps rebounding – Adelabu
The Minister of Power, Adebayo Adelabu, says the N225 Kilowatt-Hour being paid by electricity consumers on Band A will reduce…
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NNPCL unveils plan to stabilise Naira
The Nigerian National Petroleum Company Limited (NNPCL) is set to increase its gas output, targeting both local and international markets.…
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Adelabu Apologises For Saying Nigerians Keep Freezers On Due To Low Tariff
The Minister of Power, Adebayo Adelabu, has apologised to Nigerians for saying that they keep freezers on for days due…
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Natural gas vital to driving economic growth – NNPCL
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mr Mele Kyari, has reiterated the crucial role…
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GTCO records N609.3bn rise in profit
Guaranty Trust Holding Company GTCO Plc, has recorded 184.5% increase in its Profit Before Tax, PBT to N609.3 billion in…
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10 commercial banks operating expenses rise to N3tn
The combined operating expenses of 10 Nigerian banks surged by 42.51 percent to N3.23 trillion in 2023, up from N2.26…
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AfDB secures $110,000 grant for Ekiti electricity plan
THE African Development Bank, AfDB, has secured funding support of $110,000 from the Sustainable Energy Fund for Africa, SEFA, for…
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Electricity tariff hike capable of hurting us, APC NWC member cries out
The Deputy National Organizing Secretary of the ruling All Progressives Congress (APC), Nze Chidi Duru, has called upon President Bola…
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UBA’s gross earnings hits N757.7bn
United Bank for Africa (UBA) Plc has recorded a 143 per cent rise in gross earnings to N2.08 trillion in…
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Electricity Tariff Hike: Atiku faults FG’s move
Former Vice president and PDP’s presidential candidate in the 2023 election, Atiku Abubakar has joined the growing list of critics…
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Stock investors lose N252bn on Thursday
Stock investors lost N252bn as the Nigerian Exchange sustained its bearish trading on Thursday. The market lost about N467bn between…
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AfDB, Indorama partner to boost fertiliser production
The African Development Bank has signed a $75m loan agreement with Nigeria’s Indorama Eleme Fertiliser and Chemicals Limited. The bank…
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How Bernard Arnault overtook Elon Musk to reach No. 1
For the second year running, luxury goods magnate Bernard Arnault is the richest person in the world, ranking number one…
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Meet the World’s Top 10 female billionaires in 2024
According to Forbes’ latest data, out of the 2,781 billionaires worldwide, 369 are women, constituting 13.3% of the total, up…
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Okra, uLesson granted tax exemptions for investment in 2023
The Nigerian government's tax exemption scheme has benefited nine companies in the information and communication industries.
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TUC reacts to electricity tariff hike, says unacceptable
The Trade Union Congress says no Nigerian receives 20 hours of power supply per day, noting that the new electricity…
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Telecoms union suspends planned strike
The Private Telecommunications and Communications Senior Staff Association of Nigeria has suspended its planned strike, which was to begin on…
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Marketers have started lifting diesel from Dangote Refinery
The Chief Executive Officer/CEO, Major Energy Marketers Association of Nigeria, MEMAN, Clement Isong, said marketers have started to lift diesel…
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Dangote, Adenuga, Rabiu, Otedola make Forbes’ 2024 billionaires list
Forbes has listed Nigerian businessmen, Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola, as the top richest Nigerians in…
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Cadbury records N19bn loss, shareholders receive no dividends
The shareholders of consumer goods firm, Cadbury Nigeria Plc will get no dividend payment for the financial year 2023 as…
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NRC revenue dropped by N120m in 2023 – NBS
The Nigeria Railway Corporation lost N119.85m in 2023 compared to revenue figures recorded in 2022. According to the data obtained…
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Equity investors gained N18tn in Q1
The bullish trading pattern of 2023 extended into the first quarter of 2024, resulting in a N18.203tn gain for investors…
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Heirs Technologies dips hands into $250bn global outsourcing market
A subsidiary of the Tony Elumelu majority-owned holding company, Heirs Technologies, wants to become like Tek Experts, a company which…
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Access Bank lost over ₦6 billion to fraud last year
Access Bank, Nigeria's largest commercial bank by assets, reported losses of ₦6.15 billion from fraud and forgery, in 2023, up…
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