Business

The Federal Government of Nigeria can no longer shoulder the financial burden of developing and expanding airports alone, according to Barr. Festus Keyamo, the Minister of Aviation and Aerospace Development. Speaking at the 2024 Airport Business Summit and Expo (ABSE) on Friday, Keyamo highlighted the critical need for public-private partnerships (PPPs) to effectively fund infrastructure projects in the aviation sector.…

Fidelity Bank Plc has denied allegations of data breach and disputed the fine imposed by the Nigerian Data Protection Commission (NDPC).  The divisional head of brand and communications, Fidelity Bank, Meksley Nwagbohin a statement, said the bank “conducted itself to the highest ethical standards by ensuring full compliance with extant laws on data protection”. On Wednesday, NDPC said it imposed…

The Nigerian National Petroleum Company Limited (NNPC Ltd) has firmly dismissed allegations made by former Vice President Alhaji Atiku Abubakar regarding the company’s operations and leadership. In a press release signed by the Chief Corporate Communications Officer, Olufemi Soneye, NNPC Ltd addressed the claims, clarifying the circumstances surrounding its acquisition of OVH and the role of its Group Chief Executive…

The Nigerian equities market continued its bearish trend on Thursday, with the overall market capitalization dropping by N64 billion. The All Share Index (ASI) fell by 113.46 points, representing a decrease of 0.12 per cent, to close at 95,718.05 points. Similarly, market capitalization declined by N64 billion, closing at N54.983 trillion. The downturn was driven by losses in medium and…

Oando Plc on Thursday announced the successful completion of the acquisition of 100per cent of the shareholding interest in the Nigerian Agip Oil Company (NAOC) from the Italian energy company, Eni, for a total consideration of $783 million comprised of consideration for the asset and reimbursement. The Chief Compliance Officer and Company Secretary, Oando, Ms. Ayotola Jagun in a statement…

… Urges Tinubu to implement directive on crude supply to Dangote refinery, others The Nigerian Bar Association (NBA) has called for the full implementation of the directive of President Bola Ahmed Tinubu on the supply of crude to Dangote refinery and modular refineries in the country. Describing the establishment of the refinery as both nationalistic and patriotic endeavour, the umbrella…

Price of petrol is being moderated by the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL) to guarantee stability, the oil giant has said. The NNPCL said it has been making PMS available for retail distribution at about half of the landing cost under an agreement with the government to safeguard Nigerians from the global fluctuation in oil…

Business owners are optimistic that the conditions for doing business in Nigeria will improve in August 2024, and the following six months, the Central Bank of Nigeria has stated. According to the Business Expectations report released by the apex bank on Wednesday, business owners expect businesses to perform better in August with an optimism index of 7.6 points. In the…

In line with its commitment to supporting youth empowerment and technological innovation, and creating opportunities for Nigerian youths to thrive in the digital economy, Unity Bank Plc recently held a high-impact webinar to explore the role of digital technology in sustainable development. The event drew participants from across Nigeria featuring the Telecommunications, Media and Technology, (TMT) ecosystem including start-ups, players…

Ibom Air has announced the addition of a second Airbus A220-300 to its growing fleet, following the aircraft’s arrival in Nigeria on August 10, 2024, at Murtala Muhammed International Airport, Lagos. The Akwa Ibom State Government, which is the airline’s shareholder, formally received the new aircraft on Tuesday, during a ceremony at Victor Attah International Airport in Uyo, Akwa Ibom…