Business

The Nigerian Upstream Petroleum Regulatory Authority (NUPRC) says the country’s oil production increased to 1,485,700 barrels of oil per day (bpd) in April. According to NUPRC’s latest crude oil and condensate production data, the figure represents the first month-on-month output growth. The current production level signifies a 6.06 percent rise compared to March, when the yield was 1,400,783 bpd. With…

The equities market on Monday witnessed a mixed note as the overall capitalisation edged down by N296 billion amid profit-taking in MTN Nigeria Communication Plc (dropped by 2.07 per cent) and 25 others. The Nigerian Exchange Limited All Share Index (NGX ASI) lost by 471.93 basis points or 0.43 per cent to close at 108,261.47 basis points. Also, market capitalisation…

In demonstration of its commitment to financial empowerment targeting Youths, Unity Bank Plc has again championed the cause of financial literacy by facilitating Training in 13 secondary schools across Nigeria to commemorate the 2025 Global Money Week. Held under the theme, “Think before you follow, wise money tomorrow,” this year’s engagement focused on helping young people develop discernment and critical…

The Nigerian Postal Service (NIPOST) has signed a direct international mail partnership with KLM Royal Dutch Airlines, targeted at improving its logistics and international mail delivery services. This was disclosed by the postmaster-General/CEO of NIPOST, Tola Odeyemi on X account. Odeyemi noted that the collaboration will significantly enhance the efficiency of international mail delivery by eliminating reliance on third-party handlers. “I…

Dangote Petroleum Refinery has slashed the gantry price Premium Motor Spirit (PMS) also known as petrol to N825 per litre from N835 per litre as competition continues in the domestic market. Last month, the 650,000 barrels per day refinery reduced the gantry price of petrol to N835 per litre from N865 per liter. Report indicated that the latest adjustment is…

 It was the turn of Osun State for the National Food Intervention programme by the Aliko Dangote Foundation (ADF) as the Foundation began the distribution of 30,000 bags of rice for the economically vulnerable in the state at the weekend. The state Governor, Senator Ademola Adeleke who flagged off the distribution expressed gratitude to Africa’s foremost industrialist and philanthropist, Aliko…

Fidelity Bank Plc, has announced a remarkable financial performance for the first quarter of 2025, recording a Profit Before Tax (PBT) of N105.8 billion, representing an impressive growth of 167.8per cent compared to N39.5 billion in Q1 2024. The bank’s unaudited financial statements, released on the Nigerian Exchange (NGX) on recently highlight a substantial increase in Gross Earnings, which rose…

The Federal Airports Authority of Nigeria (FAAN) has officially commissioned a new domestic cargo terminal at the General Aviation Terminal (GAT) in Lagos, marking a significant step forward in its ongoing efforts to modernize aviation logistics in the country. The terminal, launched on May 9, 2025, was overseen by the Hon. Minister of Aviation and Aerospace Development, Festus Keyamo, and…

MTN Group has disclosed that it has invested over $10 billion in Nigeria’s digital infrastructure since it entered the market in 2001, affirming its long-term commitment to Africa’s most populous country. The announcement was made by MTN Group Chairman, Mcebisi Jonas, during a strategic meeting with South Africa’s Minister of Trade, Industry, and Competition, Parks Tau, at the company’s Johannesburg…

The Federal Airports Authority of Nigeria (FAAN) has announced the completion of major upgrades at the Hajj Terminal of the Murtala Muhammed Airport, Lagos, in preparation for the 2025 Hajj operations. In a statement issued on Friday, FAAN said the enhancements were carried out to ensure a seamless, comfortable, and dignified travel experience for all intending pilgrims. Among the new…