Business

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has accused the management of Dangote Refinery of trying to suppress competitors in the down stream sector of the Oil & gas sector.  The marketers’ accusation follows Dangote Refinery’s claim that marketers are complaining of its petrol pricing because they want to import substandard products at cheaper rates. The refinery…

Oando Plc reported a profit after tax of N60.3 billion in its audited financials for the full year ended 2023, a substantial improvement from its 2022 financial performance. Impressively, the company’s financial performance for the year ended December 31, 2023, was marked by other noteworthy developments. The company recorded a 43per cent increase in revenue, reaching N2.9 trillion compared to…

Access Holdings Plc has reported remarkable third-quarter results, with gross revenue soaring by 114.5 year-on-year to N3.4 trillion, and its holdings assets growing to N41.1 trillion for the period ending September 30, 2024. The group said the growth trajectory underlined its resilience and strong performance across diverse business segments, reinforcing its commitment to sustainable returns for shareholders. The holding’s gross…

      …FirstBank wins Legendary Award FBN Holdings Plc has clinched the prestigious title of the Year 2024 Overall Best Workplace in Nigeria in the small corporate category awards hosted by Great Place to Work (GPTW) last Friday in Lago. This year’s unprecedented recognition and acknowledgment clearly accentuates the deliberate strategy of the board and management of the company in creating…

Dangote Refinery has accused the Independent Petroleum Marketers Association of Nigeria (IPMAN) and nd Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) of spreading misinformation regarding petrol pricing and quality. In a press statement released on Sunday, Dangote’s Group Chief Branding and Communications Officer, Anthony Chiejina, asserted that any imported petrol sold at a price lower than that offered…

The Federal Government has set January 2025 as the deadline for the operationalisation of the $5 billion Africa Energy Bank in Abuja, the nation’s capital city. Assistant Director (Information), Ministry Of Petroleum Resources, Chris Ugwuegbulam in a statement said Nigerian delegation led by the Permanent Secretary, Ministry of Petroleum Resources and Executive Board Member representing Nigeria at the African Petroleum…

 The Securities and Exchange Commission has announced the postponement of the Third Quarter Capital Market Committee (CMC) Meeting earlier scheduled to hold on November 14, 2024. >>> According to a statement by the SEC, “The Commission is constrained to postpone the forthcoming Capital Market Committee meeting to allow the Commission attend to urgent regulatory commitments. “We will communicate the new…

The President and Chief Executive Officer of TotalEnergies worldwide, Patrick Pouyanne, has commended the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, for restoring investors’ confidence in the Nigerian upstream sector. Pouyanne, who commended the NUPRC boss during a meeting they both held at the Commission’s headquarters in Abuja, also pledged billion dollar investments in Nigeria’s…

…as airline celebrates 10th anniversary On October 25th, Vice President Kashim Shettima praised Air Peace during the airline’s 10th-anniversary celebrations, calling it “a Nigerian product and a Nigerian pride.” The event, attended by all 36 state governors, alongside numerous industry leaders, highlighted Air Peace’s significant contributions to Nigeria’s aviation sector and economy. In his remarks, Shettima acknowledged Air Peace’s resilience…

To enhance its environmental sustainability initiatives in line with global best practices, Dangote Industries Limited (DIL), has embarked on a restoration project of planting 10,000 mangrove trees across coastal states in Nigeria. The project, in partnership with Eco-Restoration Foundation, kickstarted at Akodo-Ise, Ibeju-Lekki, Lagos, was aimed at minimising the global effects of climate change, by promoting restoration, conservation and protection…