Business

Nigeria’s Gross Domestic Product (GDP) grew by 3.46% year-on-year in real terms during the third quarter of 2024, according to the latest report from the National Bureau of Statistics (NBS). This represents an improvement from the 2.54% growth recorded in Q3 2023 and the 3.19% growth reported in Q2 2024. The Q3 2024 growth was primarily driven by the Services…

Access Bank Plc has denied the allegation of missing N500million in one of its branch in Nigeria, stating that the report is untrue and baseless. A social media influencer, VeryDarkMan, had exposed an allegedly  disturbing inheritance scandal involving Access Bank that has raised serious concerns about the integrity of the institution. The controversy centres around the mysterious disappearance of N500…

The management of Dangote Petroleum Refinery has announced a reduction in its ex-depot price of premium motor spirit (PMS), also known as petrol, to N970 per litre for oil marketers. This is a cut from the refinery’s N990 ex-depot price announced earlier this month, according to a statement on Sunday. The slash would help marketers save about N20 on each…

By Kunle Sanni The Minister of Solid Minerals Development, Dr. Dele Alake, has urged mining company executives to champion the establishment of a mining development bank to provide long-term credit essential for the sustainable growth of Nigeria’s mining sector. Speaking at the CEO Roundtable during the 2024 Nigeria Mining Week, Dr. Alake encouraged industry leaders to ensure that the proposed…

The Dangote Petroleum Refinery on Friday said the Nigerian National Petroleum Company Limited (NNPCL) not delivering the  agreed minimum of 385,000 bpd as the  initiative to sell crude priced in the local currency is faltering and the plant is still unable to secure adequate supplies. The vice-president of Dangote Industries Limited, Edwin Devakumar who spoke to Reuters, said, “We need…

The Federal Government has raised over N346.155 billion at its November 2024 bond auction, reflecting higher allotments despite a reduction in the amount offered. The auction, conducted by the Debt Management Office (DMO) on November 18, 2024, featured reopenings of the 19.30% FGN APR 2029 (5-Year Bond) and the 18.50% FGN FEB 2031 (7-Year Bond). Compared to October, the November…

The president of Association of Issuing Houses of Nigeria (AIHN), Kemi m said, the president Bola Tinubu-led administration  reforms in the foreign exchange market has significantly improved valuation transparency in companies that enabled more foreign investors to invest in the economy. Awodein stated this at the AIHN Annual General Meeting held in Lagos. The AGM provided an opportunity for the…

Airtel Nigeria, a leading telecommunications and mobile money service provider, has partnered with Mobihealth International, a pioneering telehealth service provider, to enhance access to healthcare for millions of Nigerians, especially in underserved communities. The partnership promises affordable, round-the-clock telemedicine services, enabling Nigerians to connect with licensed healthcare professionals via mobile phones. Through Mobihealth’s innovative platform, users can access services such…

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has pledged its commitment to revitalizing and commercializing football in Nigeria through strategic partnerships with key stakeholders in the sports sector. The Group Chief Executive Officer (GCEO) of NNPC Ltd., Mele Kyari, made this promise on Thursday while hosting a delegation from the National Sports Commission, International Management Group (IMG), and AfroSport…

— Oyetola describes feat as testament to acceptance of FG reforms The Managing Director of the Nigerian Ports Authority (NPA), Dr.  Abubakar Dantsoho has emerged the first Nigerian to be elected Chairman of the Port Management Association of West and Central Africa (PMAWCA) The recognition came during the closing ceremony of the 44th annual council and 19th roundtable of Directors…