Business

The Federal Airports Authority of Nigeria (FAAN) and the Plateau State Government have signed a Memorandum of Understanding (MoU) to develop and expand the Yakubu Gowon Airport into a major hub for agricultural produce and cargo operations. Announcing the development on its official social media platforms on Wednesday, FAAN described the partnership as a visionary step toward unlocking economic growth…

The Nigerian equities market on Wednesday extended its bullish run as price uptick in Oando Plc and 30 others pushed the overall capitalization to cross N71 trillion. The All-Share Index rose by 354.25 per cent, representing a gain of 0.32 per cent, to close at 112,781.73 points. Similarly, the overall market capitalisation value gained N233 billion to close at N71.118…

The Nigeria Deposit Insurance Corporation (NDIC) has called for feedbacks from financial services industry stakeholders in the country, policy makers and the general public towards the ongoing revision of the International Association of Deposit Insurers (IADI) Core Principles for Effective Deposit Insurance System. The Head, Communication & Public Affairs, NDIC, Hawwau Gambo in a statement on Tuesday stated that the…

The International Air Transport Association (IATA) said Nigeria has been removed from the list of countries with $1.25 billion global unrepatriated airlines’ revenue — otherwise known as blocked or trapped funds. IATA’s regional vice-president for Africa, Middle East, and Europe (AME), Kamil Al-Awadhi disclosed this at a news conference during the association’s recent annual general meeting (AGM). He said while…

The chairman of FBN Holdings Plc, Mr. Femi Otedola on Monday commended President Bola Tinubu’s fuel subsidy removal, among other reforms, stating that these reforms have restored investors’ confidence. Otedola spoke during a courtesy visit to minister of finance and coordinating of the economy, Wale Edun at his office in Abuja. “The improving macroeconomic conditions, enhanced regulatory clarity, and pragmatic…

The total market capitalisation of the Nigerian Exchange Limited (NGX) instruments increased to N121.4 trillion in May 2025 as the bourse continued to witness massive trading activities. This is about 3.9per cent increase over N116.7 trillion declared by the NGX for April 2025.   These instruments comprise of debt, Exchange Traded Funds (ETF), and equities. For the debt market, it is…

Jason Njoku, the CEO of IrokoTV, has opened up on the challenges that plagued the movie streaming platform in Nigeria. Speaking with media personality Chukwudi Iwuchukwu, Njoku described the company’s $100 million investment in the local market as a costly mistake.He said the platform, which was founded in 2011 and launched in 2015, was operating in “full survival mode” in…

Aliko Dangote, president of the Dangote Group, says Nigerians are paying only 55 percent of what citizens in other West African countries spend on petrol, thanks to local refining. Dangote made the statement during a visit to his refinery by Omar Touray, president of the Economic Community of West African States (ECOWAS) Commission. “In neighbouring countries, the average price of…

The Federal Government is set to deploy seven million smart electricity meters across Nigeria in a major push to eliminate estimated billing and plug revenue leakages in the power sector. The initiative, led by the Presidential Metering Initiative, was disclosed by Mrs. Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, during an interview in Abuja to mark the…

… We’ve capacity to meet ECOWAS’s petroleum needs – Dangote  Towering over the Lekki Free Zone on the edge of the Atlantic, the Dangote Petroleum Refinery is more than just a feat of engineering; it has become a symbol of ambition, vision, and industrial self-reliance for an entire continent. Now, that promise has been affirmed by the region’s highest political…