Business

The first trading session of the week closed on a positive note as the overall capitalisation rose by N37 billion, following buying interest in Okomu Oil Plc and 27 others. The Nigerian Exchange Limited All Share Index (NGX ASI) rose by 63.83 points or 0.07 per cent to close at 96,037.28 basis points. Also, market capitalisation gained N37 billion to…

The Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, has arrived in Charleston, South Carolina, alongside the CEOs of major Nigerian airlines for a week-long engagement with Boeing. The visit, which follows an invitation from Boeing, will also include a trip to Seattle, Washington. In a statement released by Obafemi Bajomo, the Special Adviser to the Minister, it…

In line with its strategic vision to be a dynamic and reliable global energy supplier of choice, the Nigerian National Petroleum Company Limited (NNPC Ltd.) has commenced shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on Delivered Ex-Ship (DES) basis. The Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye in a statement stated the company achieved the…

The Assets Management Corporation of Nigeria (AMCON) says the only way to make the  Ibadan Electricity Distribution Company (IBEDC) more efficient is to sell it to viable investors. The AMCON Managing Director/Chief Executive Officer, Gbenga Alade, stated this at an interactive session with media executives in Lagos on Monday. Alade told journalists that when he took office five months ago,…

Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Monday stated that the approvals given to the NAOC-Oando and Equinor – Chappal divestments were in accordance with the Petroleum Industry Act (PIA) 2021, stressing that it defined regulatory framework, and standard consent approval process set by the Commission under the Act. The head, public affairs unit, NUPRC, Mrs. Olaide Shonola in a…

The League of engineering bodies in Nigeria have hailed the huge scale of engineering structures at the Dangote Petroleum Refinery and Petrochemicals and Dangote Fertiliser Plant at Ibeju-Lekki, Lagos State, describing the superstructure at the complex as awesome and mind-blowing; even as the company prepares for the rollout of its premium motor spirit (PMS) product, also known as petrol. The…

The Federal Government of Nigeria can no longer shoulder the financial burden of developing and expanding airports alone, according to Barr. Festus Keyamo, the Minister of Aviation and Aerospace Development. Speaking at the 2024 Airport Business Summit and Expo (ABSE) on Friday, Keyamo highlighted the critical need for public-private partnerships (PPPs) to effectively fund infrastructure projects in the aviation sector.…

Fidelity Bank Plc has denied allegations of data breach and disputed the fine imposed by the Nigerian Data Protection Commission (NDPC).  The divisional head of brand and communications, Fidelity Bank, Meksley Nwagbohin a statement, said the bank “conducted itself to the highest ethical standards by ensuring full compliance with extant laws on data protection”. On Wednesday, NDPC said it imposed…

The Nigerian National Petroleum Company Limited (NNPC Ltd) has firmly dismissed allegations made by former Vice President Alhaji Atiku Abubakar regarding the company’s operations and leadership. In a press release signed by the Chief Corporate Communications Officer, Olufemi Soneye, NNPC Ltd addressed the claims, clarifying the circumstances surrounding its acquisition of OVH and the role of its Group Chief Executive…

The Nigerian equities market continued its bearish trend on Thursday, with the overall market capitalization dropping by N64 billion. The All Share Index (ASI) fell by 113.46 points, representing a decrease of 0.12 per cent, to close at 95,718.05 points. Similarly, market capitalization declined by N64 billion, closing at N54.983 trillion. The downturn was driven by losses in medium and…