Business

The Nigerian National Petroleum Company (NNPC) Ltd. has fulfilled its pledge of re-streaming the Port Harcourt Refining Company (PHRC), signaling the commencement of crude oil processing from the plant and delivery of petroleum products into the market. Chief Corporate Communications Officer, NPC Ltd., Mr. Olufemi Soneye in a statement on Tuesday, said trucks began loading petroleum products which include Premium…

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday voted to raise the Monetary Policy Rate (MPR) by 25 basis points to 27.50 per cent from the previous 27.25per cent. This decision was made to address persistent inflationary pressures. The members also voted to retain the asymmetric corridor at +500basis points/-100basis points ; retain the…

The Nigerian National Petroleum Company Limited (NNPCL) on Tuesday, November 26, announced that the Port Harcourt Refinery has commenced operations. Its Chief Corporate Communications Officer Mr Olufemi Soneye disclosed this in a message to The Nation. He said: “A Historic Milestone: Port Harcourt Refinery Begins Operations. “Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences…

The Central Bank of Nigeria (CBN) has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators from December 3, 2024, to June 3, 2025. President of the Association of Bureaux De Change of Nigeria (ABCON), Aminu Gwadabe disclosed the extension during an emergency virtual general meeting held by ABCON for its members. He explained that the CBN…

…Dangote Cement, Refinery win Sectoral, Groundbreaking investment awards In a blitz of honour, the Pan-Africa Conglomerate, Dangote Industries Limited (DIL), and its subsidiaries Dangote Cement Plc and Dangote Refinery and Petrochemicals stole the show at the weekend in Lagos when they carted away excellence awards bestowed by the private sector employers’ body, Nigeria Employers Consultative Association (NECA) during its 2024…

Amid domestic and foreign macroeconomy challenges, Guaranty Trust Holding Company Plc (GTCO), and five other big Deposit Money Banks (DMBs) operating in Nigeria and other Sub-Saharan Countries in Africa generated an estimated N4.15 trillion profit before tax in nine months of 2024. This is about 110.4 per cent increase from N1.97 trillion profit before tax generated in nine months of…

The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr Aminu Maida, has restated the commitment of the agency to creating a truly consumer centric telecom industry. Maida stated that, creating a consumer centric telecom industry would enable consumers feel valued, informed, empowered and satisfied with the services they receive. He made this remarks at the 93rd Telecom Consumer…

…SEC DG Outlines Outlook For Capital Market In 2025 Over N2.7trillion capital has been raised in the capital market by banks and other companies, the Securities and Exchange Commission has revealed. The figure, which includes equity capital, excludes the amount raised by funds managers in the capital market. This is just as the Commission revealed that out of the N2.7trillion,…

The Nigeria Customs Service (NCS) Ondo/Ekiti Area Command has reiterated its commitment to fostering a business-friendly environment to enhance trade facilitation and promote economic growth. This pledge was reaffirmed by the Customs Area Controller (CAC), Comptroller Morenikeji Bewaji, during a meeting with delegates from the Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) at the Command’s headquarters…

Nigeria’s Gross Domestic Product (GDP) grew by 3.46% year-on-year in real terms during the third quarter of 2024, according to the latest report from the National Bureau of Statistics (NBS). This represents an improvement from the 2.54% growth recorded in Q3 2023 and the 3.19% growth reported in Q2 2024. The Q3 2024 growth was primarily driven by the Services…