Business

The President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has praised former Head of State, Gen. Ibrahim Badamasi Babangida, popularly known as IBB, for implementing policies that liberated the private sector in Nigeria during his regime. Dangote made this statement on Thursday during the unveiling of the book “A Journey in Service”, the autobiography of the former Head…

The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has voted to hold all rates across board with the headline monetary policy rate (MPR) held at 27.5 per cent.  This was announced by the central bank governor, Yemi Cardoso, at the press briefing of the monetary policy committee on Thursday. Raise the MPR by 25 basis points to 27.50…

The Nigerian naira posted decent gains against the American dollar on the parallel foreign exchange market during the mid-week trading session, amid ongoing improved market sentiments in Nigeria’s capital market. Currency traders exchanged the naira at an average rate of N1,515 on Wednesday, up from N1,520/$ on Monday, representing a gain of N5 within a single day. The changing dynamics…

Aliko Dangote, Africa’s richest man, has announced a $400 million plan to revive a second production line at the Mugher cement plant in Ethiopia, aiming to double the facility’s annual capacity to three million tons. The Ethiopian plant that became operational in 2015 has faced challenges, including recurrent violence in the region, Bloomberg reported. This led to the vandalism of…

By Kunle Sanni The Federal Government has announced a ban on 60,000-litre fuel tankers from operating on Nigerian roads, effective March 1, 2025. Ogbugo Ukoha, Executive Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), made the announcement after a meeting with key stakeholders, including the Department of State Services (DSS), Federal Road Safety Corps (FRSC), and the…

The Nigeria Data Protection Commission (NDPC) on Wednesday announced that it is collaborating with the Nigerian Communications Commission (NCC) to strengthen data protection and privacy in Nigeria’s telecommunications sector.  The National Commissioner/CEO of the NDPC, Dr. Vincent Olatunji, inaugurated a joint working group between the NDPC and the NCC named, Data Protection in Telecommunications Working Group (DPTWG).  The group was…

Following a successful completion of the 10th anniversary of the Access Bank Lagos City Marathon, the financial institution on Wednesday restated its commitment to community and sustainability.  Access Bank concluded its Lagos City Marathon last Saturday, as it highlighted  the platform’s ability to foster unity, promote healthy lifestyles, and showcasing African excellence on the global stage.  Since its inception in…

The Governor of Central Bank of Nigeria (CBN), Mr, Olayemi Cardoso was at the meeting of governors of Central banks of Economic Community of West African States (ECOWAS) Member States in Sierra Leone recently. Economic Integration was part of what the ggovernors discussed at the 65th ordinary meeting.

The Chairman of the Senate Committee on Capital Market, Senator Osita Izunaso, has announced that the National Assembly has transmitted the Investments and Securities Bill 2024 to President Bola Ahmed Tinubu for assent. Speaking during the Securities and Exchange Commission’s budget defense on Tuesday in Abuja, Sen. Izunaso stated that lawmakers expect the President to sign the bill into law…

 Legislators in Lagos State have commended the Lagos State Internal Revenue Service (LIRS) for achieving an unprecedented milestone in revenue generation, surpassing N1 trillion.  This landmark accomplishment positions LIRS as the first sub-national revenue agency in Nigeria to attain such a feat, reflecting its professionalism, efficiency, and commitment to transparent tax administration. Former Chairman of the House Committee on Economic…