Business

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun on Thursday paid a courtesy visit to the Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari in his office in Abuja. 

The Central Bank of Nigeria (CBN) has revealed that Naira at the official foreign exchange rate depreciated by 0.1per cent to N1,520.00 against the dollar on Thursday from N1,505 against the dollar it closed on Wednesday.  Accordingi to CBN, the Naira reached a highest and lowest value of N1,520 and N1,505 against dollar, respectively.  However, the overnight lending rate expanded…

Dangote Industries Limited, (Dangote Group), and its subsidiaries has disclosed that it paid over N402 billion in taxes in 2024, making it the highest taxpayer in the country. Dangote’s Chief Branding and Communication Officer, Anthony Chiejina, declared during a meeting with some senior media executives who visited him in his Lagos Office that Dangote Industries Limited (DIL) and its subsidiaries,…

The Minister of Women Affairs, Hajia Imaan Sulaiman -Ibrahim has called on all stakeholders to take immediate and decisive action in empowering women through financial literacy and inclusion. The minister said this at an event to commemorate the International Women’s Day with the theme, “Accelerate Action” – Empowering Women Through Financial Literacy & Inclusion.” The event, organized by the Securities…

VFD Group Plc has migrated from N1.02 billion loss before tax in 2023 financial year to N12.46 billion profit before tax in unaudited financial year ended December 31, 2024.  The multi-sectoral investment Company, listed on  the main board of the Nigerian Exchange (NGX) declared N10.41 billion profit after tax in 2024 from a loss of N0.75 billion announced in 2023…

 The equities market on Wednesday extended its losing streak as investors profit–taking down the overall capitalisation by N289 billion. The All-Share Index declined by 467.77 basis points or  0.44 per cent, to close at 106,436.48 basis points. Similarly, the overall market capitalisation value shed N289 billion to close at N66.653 trillion. Investor sentiment, as measured by market breadth also closed…

FirstBank Plc on Wednesday broke the ground for a new corporate headquarters at the Eko Atlantic, Lagos. Vice President Kashim Shettima who represented President Bola Tinubu at the event performed the groundbreaking event. The event had many of the leading corporate executives, governors and business men and women in attendance. Among those who attended the event were Lagos State Governor…

The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa has reaffirmed the agency’s commitment to fostering collaboration among researchers, technology experts, and academics to tackle national challenges through innovation and cutting-edge technology. Inuwa made this reaffirmation during a visit by the management of Nasarawa State University, Keffi (NSUK), led by the Vice Chancellor, Professor Sa’adatu Hassan…

Plans are underway towards building a United Kingdom/Nigeria National Cybersecurity Architecture as the National  Information Technology Development Agency (NITDA) is to facilitate UK/Nigeria Inward Cyber Trade Mission. Director-General National Information Technology Development Agency NITDA, Kashifu Inuwa at the meeting with some UK delegates on Monday in Abuja, said that President Bola Tinubu was committed to economic reforms and transformation, which…

Three cement manufacturing companies in Nigeria, Dangote Cement Plc, BUA Cement Plc and Lafarge Africa Plc generated a sum of N984.7 billion profit before tax in 2024 financial year, about 40.5 per cent growth over N701.03 billion declared in 2023.  In the period under review, Dangote Cement generated N732.54 billion PBT, an increase of 32.4 per cent when compared to…