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Business
PHOTO NEWS: Ojulari engages delegations from IPPG on strengthening collaboration with IoCs
The Group Chief Executive Officer of NNPC Ltd., Engr. Bashir Ojulari, hosted a delegation from the Independent Petroleum Producers Group (IPPG) on the need to strengthen collaboration with International oil Companies (IoC). The delegation that met with the NNPCL boss in Abuja was led by the Chairman, Abdulrazaq Isa of Waltersmith Petroman Oil Limited. The corporation, in a tweet, said…
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Business
Foreign reserves drop to $38.02bn
Nigeria’s foreign reserves dropped to $38.02 billion as of June 11, 2025, according to the latest data from the Central Bank of Nigeria (CBN). At $38.02 billion, the foreign exchange buffer has depreciated by $427 million so far in June, when it opened at $38.45 billion. As the foreign reserves continue to depreciate, the Naira at the foreign exchange market…
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Business
Equities market gains N512.5bn in one week
Despite trading for three days, the Nigerian equities market appreciated by N512.5 billion in one week as investors renewed interest in blue-chip companies quoted on the Nigerian Exchange Limited (NGX). Specifically, the market capitalisation closed at N72.788 trillion, about N512.5billion or 0.71 per cent week/week(w/w) increase from N72.275 trillion it opened for trading. Also, the NGX All-Share Index crossed the…
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Business
Debt, equities, ETF rise to N121.4trn in May 2025, says NGX
The overall market capitalisation of the c instruments (debt, equities and Exchange Traded Fund) crossed the N120trillion mark to N121.4 trillion in May 2025, amid a hike in foreign investors inflow into the bourse this year. This is about 11.05 per cent or N12.08trillion Year-till-Date growth when compared to N109.27 trillion overall market capitalisation closed December 2024. For the debt…
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Global News
Global Oil price jumps over 7% after Israel’s strikes on Iran
Oil prices jumped more than seven per cent on Friday, trading near multi-month highs after Israel launched widescale strikes against Iran, sparking Iranian retaliation and raising worries about disrupted oil supplies. According to a report by Reuters, the brent crude futures jumped $5.1, or around 7.4per cent, to $74.46 a barrel by 0843 GMT after hitting an intraday high of…
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Global News
London-bound plane carrying 242 people crashes after take-off in India
A London-bound Air India plane carrying 242 people crashes shortly after take-off in Ahmedabad, western India According to BBC report, the Flight AI171 was travelling from Ahmedabad to London Gatwick. There were 169 Indian nationals on the flight, 53 Britons, seven Portuguese nationals and one Canadian, Air India says Videos show scenes of devastation in the residential area where the…
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Business
CBN refutes report of extending BDC recapitalisation deadline
The Central Bank of Nigeria (CBN) has refuted claims circulating in the media suggesting an extension of the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025. The CBN’s Acting Director of the Corporate Communications Department, Mrs. Hakama Sidi Ali, in a statement said the bank dismissed the information as “false” and “misleading.” The bank noted that no…
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Business
NNPCL declares N5.89trn revenue in April 2025
The Nigerian National Petroleum Company (NNPC) Limited has reported a revenue of N5.89 trillion for April 2025. In its new report titled ‘NNPC Limited Monthly Report Summary — April 2025,’ the oil firm said it recorded profit after tax of N748 billion for the same period. NNPC said it made statutory payments of N4.22 trillion between January and March 2025. “All financial figures are…
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Business
PHOTO NEWS: NNPCL boss hosts delegation from Moeve Global to champion sustainable energy
The Group CEO of NNPC Ltd., Engr. Bashir Ojulari on Wednesday hosted a delegation from Moeve Global, a global leader in sustainable mobility and energy, led by CEO Maarten Wetselaar in Abuja. The Corporation in tweet stated that discussions of the meeting focused on forging strategic partnerships to align with presidential directives on boosting production. Ojulari, who emphasised NNPC Ltd.’s…
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Company Report
After 20 years, Dangote retires as Chairman of Dangote Sugar Refinery
The Chairman, Board of Dangote Sugar Refinery Plc, Aliko Dangote has retired as the chairman of the company after 20 years of running its affair. The company’s secretary, Temitope Hassan in a statement disclosed that his retirement takes effect from June 16, 2025. Dangote, who has been at the helm of leadership since 2005, is credited with steering Dangote Sugar into…
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