Business

The co-chair of the Bill and Melinda Gates Foundation, Bill Gates, has stated that Nigeria’s low tax collection rates threaten financing critical sectors such as health and education. Gates made these remarks on Tuesday during Nutrivision 2024, a Pan-African youth dialogue on nutrition held in Abuja. Gates spoke while responding to a question on potential financing mechanisms for large-scale public…

United Capital Trustees, a subsidiary of United Capital Group, has announced the appointment of Michael Abiodun Thomas as the new Managing Director/Chief Executive Officer. This appointment follows a rigorous approval process by the Securities and Exchange Commission (SEC). Michael Abiodun Thomas brings nearly two decades of experience in trust services, legal compliance, and wealth management with a proven track record…

The Federal Competition and Consumer Protection Commission (FCCPC) has expressed that it had granted a one-month moratorium before enforcement begins on price control, stressing that it provided businesses with the necessary time to adjust their practices and ensure full compliance with laws aimed at protecting consumers and fostering fair competition. The Director, Special Duties & Strategic Communication, FCCPC , Mr.…

The Nigerian equities market on Tuesday closed on a positive note following share price appreciations in Oando Plc and 28 others. As a result, the All-Share Index (ASI) gained 79.79 points, representing a gain of 0.08 per cent to close at 96,873.74 points. Also, market capitalisation rose by N46 billion to close at N55.647 trillion. As measured by market breadth,…

The President, Dangote Group, Alhaji Aliko Dangote on Tuesday disclosed that the $20 billion Dangote Refinery awaits Nigerian National Petroleum Company (NNPC) Limited approval to commenced the roll out of Premium Motor Spirit (PMS) to local market from its refinery. The refinery launched in May 2023, is expected rolled out its first PMS or petrol, from its 650,000 barrels per…

The Chairman of Dangote Group, Alhaji Aliko Dangote on Tuesday disclosed that Nigeria by October 2024 will stop importing of Polypropylene, stressing that the $20billion Dangote Refinery is ready to meet market demands. The 650,000 barrels per day Dangote refinery located in Lagos has concluded the test production of petroleum and will begin sale immediately. Speaking to journalists on AriseTV during…

The Nigeria Civil Aviation Authority (NCAA) has clarified the situation surrounding the alleged ban on Nigerian airlines by the United States, citing a misinterpretation of some decisions of the Federal Aviation Administration (FAA). In a statement signed on Monday by Capt. Chris Najomo, Acting Director General of Civil Aviation, the NCAA addressed the confusion and provided context to the report…

…Trains farmers on applications Determined to boost food production and enhance socio-economic development of its host communities, Dangote Cement, Ibese Plant has donated agricultural supplies to local farmers. This initiative is part of the company’s broader empowerment programme designed to ensure food security for the people. In what has become an annual programme, 60 farmers from the 17 host communities…

The local equities market has dropped by N1.12 trillion between July and August 2024, as investors’ profit-taking persisted in some blue-chip companies listed on the Nigerian Exchange Limited (NGX). The downward trend in the two months under review is coming on the backdrop of a hike in the Monetary Policy Rate, leading investors to divest into lucrative high yield Treasury…

Nigerian Exchange Limited (NGX) and the University of Maiduguri (UNIMAID) have signed a Memorandum of Understanding (MoU) to bridge the gap between academic research and industry practice. This strategic collaboration aims to foster innovation, enrich learning, and promote sustainable development within the capital market sector. The MoU signing ceremony, attended by key representatives including NGX CEO Jude Chiemeka and Prof.…