Business

Dangote Petroleum Refinery & Petrochemicals has announced that it will refund customers who purchase Premium Motor Spirit (PMS) at rates higher than the advertised prices from any of its key partners – AP (Ardova Plc), Heyden, or MRS – across Nigeria. This move follows the refinery’s recent reduction of its gantry price from N890 per litre to N825 per litre.…

The Chief Executive Officer of the Oil and Gas Free Zones Authority (OGFZA), Mr. Bamanga Jada, has revealed that the agency is currently facilitating the establishment of liquefied petroleum gas (LPG) processing plants in Onne and Liberty Free Zones with a total storage capacity of 70,000 metric tonnes. He disclosed that when completed, the projects would enhance access to clean…

The Federal Airports Authority of Nigeria (FAAN) has announced the temporary closure of Runway 18R/36L at Murtala Muhammed Airport, Lagos, for maintenance work. According to a statement signed by Mrs. Obiageli Orah, Director of Public Affairs and Consumer Protection, the closure will take effect from 3:00 AM on March 3, 2025, to 11:59 PM on March 4, 2025. The temporary…

The Securities and Exchange Commission (SEC), in its commitment to developing the capital market and increasing participation among Nigerians, is set to train selected women in capital market literacy through its training arm, the Nigerian Capital Market Institute. SEC Director General, Dr. Emomotimi Agama, disclosed this initiative during a meeting with the Minister of Women Affairs, Hajia Imaan Suleiman-Ibrahim. The…

The equities market of the Nigerian Exchange Limited (NGX) dropped by N421 billion in one week as investors engaged in cautious portfolio adjustments and sectoral realignments. As a result of the market downturn, the All-Share index declined by 0.62 per cent to close the week at 107,821.39 points. Similarly, market capitalisation lost N421 billion week-on-week (W-o-W) to close at N67.193…

Key stakeholders have urged the leadership of the NEZ Association, Nigeria Export Processing Zones Authority (NEPZA), and Oil and Gas Free Zones Authority (OGFZA) to further engage with the Central Bank of Nigeria (CBN) to finalise the guidelines for the implementation of offshore banking in Special Economic Zones (SEZs). This, among others, was part of the communique issued at the…

The Nigerian Civil Aviation Authority (NCAA) has announced plans to shut down Ibadan Airport for six months to allow for maintenance and upgrade works. The Director of Public Affairs and Consumer Protection, Mr. Michael Achimugu, disclosed this on Friday via his official handle on X, stating that the temporary closure is expected to begin in early March. “Subject to new…

…board approves record N4.4bn dividend for shareholders   Nigerian Exchange Group Plc has announced its audited financial results for the year ended December 31, 2024, delivering a record-breaking profit before tax (PBT) of N13.6 billion, marking an impressive 157.3 per cent year-on-year growth.  This strong performance was driven by robust revenue expansion, strategic cost optimization, and increased market participation, reflecting the…

By Kunle Sanni Foreign airlines operating in Nigeria will not receive approval for their summer flight schedules unless they partner with local catering companies for onboard meal services, Minister of Aviation and Aerospace Development, Festus Keyamo, has warned. Keyamo issued the directive during a stakeholders’ meeting in Lagos on Friday, reiterating his commitment to boosting Nigeria’s local economy. He expressed…

The Comptroller-General of Customs, Adewale Adeniyi, has reaffirmed the Nigeria Customs Service’s (NCS) commitment to enhancing collaboration with the Central Bank of Nigeria (CBN) to facilitate trade and boost revenue generation—a development he said would benefit all Nigerians. CGC Adeniyi made this known recently, during a courtesy visit to the Central Bank of Nigeria, where he met with its governor,…