Business

Nigeria’s ongoing energy reforms will play a crucial role in shaping Africa’s industrial and economic landscape, according to Olu Verheijen, Special Adviser to President Bola Tinubu on Energy. Speaking at the Nigeria International Energy Summit 2025 in Abuja, Verheijen highlighted the country’s strides in securing investments, boosting refining capacity, and improving electrification. She emphasized that Nigeria’s progress in these areas…

Flutterwave  has unveiled plan to list N4.5 trillion shares on the Nigerian Exchange (NGX). Flutterwave disclosed the Nigerian listing plan during a courtesy visit to President Bola Tinubu at the State House, Abuja. Flutterwave, which is valued at $3 billion, was founded by young Nigerians and it operates in the United States, Canada, Nigeria, Kenya, Uganda, Ghana, South Africa, and…

Unity Bank Plc posted gross earnings of N59.3 billion for the full year ended December 31, 2023, representing a growth of 3.84per cent year-on-year.  In its audited financials submitted to the NGX Group Limited, the Bank also witnessed improvements across key performance indicators, including a significant appreciation of customer deposits by 23per cent to N402.9 billion from N327.4 billion within…

Multichoice Nigeria has notified its customers of another price increment across its subscription packages on both DStv and GOtv. In a notice sent to its customers on Monday, the company said the new price regime is to take effect from March 1, 2025. According to the company, its latest price review will hike the DStv Compact bouquet from N15,700 to…

The Securities and Exchange Commission (SEC) has said the Commission has reduced time to market in its bid to ensure that the capital market is now more efficient and better positioned to aid the development of the Nigerian economy. The Director General of the SEC, Dr. Emomotimi Agama, who stated this during an interview in Abuja, weekend, emphasized that the…

Dangote Peugeot Automobile Nigeria (DPAN) has ramped up its production capacity to 44,000 vehicles annually, thanks to the integration of advanced technology in its assembly processes.  Leveraging cutting-edge systems, the plant now produces up to 120 vehicles daily, boosting local manufacturing and reducing Nigeria’s reliance on imported cars. Popular Peugeot models such as the Landtrek pickup, 3008, 5008, and 508…

Mr. Ayobami Oyalowo, the Executive Director of the Osun River Basin, has said that some interventions by the Federal Government have stabilised the Foreign Exchange (FX) market and the naira. In a statement by Oyalowo on Monday, he said rather than defending the naira as claimed by some Nigerians, the Central Bank of Nigeria (CBN) took specific measures to support…

President of Dangote Industries Limited (DIL), Aliko Dangote, revealed at the weekend that his company, the Dangote Petroleum Refinery, has over N600 billion worth of Premium Motor Spirit (PMS), otherwise known as petrol in storage, to sufficiently and conveniently meet the local needs of Nigeria. The position of Africa’s richest person, counters that of the Nigerian Midstream and Downstream Petroleum…

The domestic equities market experienced a bullish performance last week, as market capitalisation rose by N96 billion or 0.29 per cent Week-on-Week (W-o-W) to close at N67.614 trillion, as a result of the cancellation of 166.95 million units of ordinary shares of Dangote Cement Plc during the week. Also, the benchmark Nigerian Exchange Limited NGX All-Share Index (ASI) rising by…

Ecobank Nigeria, a subsidiary of Ecobank Group, has teamed up with Code 14 Labs to expand the accessibility and reach of coding education for children across Nigeria. The partnership leverages Code 14 Labs’ interactive coding workbooks, including the “Andrew Teaches” coding workbook, along with its network of trained teachers, to offer affordable annual training and proficiency certification to students. As…