Business

Oando Plc on Thursday announced the successful completion of the acquisition of 100per cent of the shareholding interest in the Nigerian Agip Oil Company (NAOC) from the Italian energy company, Eni, for a total consideration of $783 million comprised of consideration for the asset and reimbursement. The Chief Compliance Officer and Company Secretary, Oando, Ms. Ayotola Jagun in a statement…

… Urges Tinubu to implement directive on crude supply to Dangote refinery, others The Nigerian Bar Association (NBA) has called for the full implementation of the directive of President Bola Ahmed Tinubu on the supply of crude to Dangote refinery and modular refineries in the country. Describing the establishment of the refinery as both nationalistic and patriotic endeavour, the umbrella…

Price of petrol is being moderated by the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL) to guarantee stability, the oil giant has said. The NNPCL said it has been making PMS available for retail distribution at about half of the landing cost under an agreement with the government to safeguard Nigerians from the global fluctuation in oil…

Business owners are optimistic that the conditions for doing business in Nigeria will improve in August 2024, and the following six months, the Central Bank of Nigeria has stated. According to the Business Expectations report released by the apex bank on Wednesday, business owners expect businesses to perform better in August with an optimism index of 7.6 points. In the…

In line with its commitment to supporting youth empowerment and technological innovation, and creating opportunities for Nigerian youths to thrive in the digital economy, Unity Bank Plc recently held a high-impact webinar to explore the role of digital technology in sustainable development. The event drew participants from across Nigeria featuring the Telecommunications, Media and Technology, (TMT) ecosystem including start-ups, players…

Ibom Air has announced the addition of a second Airbus A220-300 to its growing fleet, following the aircraft’s arrival in Nigeria on August 10, 2024, at Murtala Muhammed International Airport, Lagos. The Akwa Ibom State Government, which is the airline’s shareholder, formally received the new aircraft on Tuesday, during a ceremony at Victor Attah International Airport in Uyo, Akwa Ibom…

The Central Bank of Nigeria (CBN) has reported a 130per cent surge in remittance inflows, with the figure reaching $553 million in July 2024. According to the CBN, this milestone represents the highest monthly remittance inflows ever recorded, marking a significant increase from the same period in 2023. This is according to a statement by Hakama Sidi Ali, the Acting…

Lango, a South African real estate firm, has agreed to acquire assets owned by Hyprop Investments Limited and Attacq Limited in Nigeria and Ghana for $200million. In a joint statement dated August 12, Lango agreed to acquire Accra Mall, Kumasi City Mall, West Hills Mall (all in Ghana), and Ikeja City Mall (ICM) in Nigeria, “at $200 million”. According to…

Sales of crude oil to Dangote Refinery and other local refineries will start on October 1, 2024. the Federal Government has said The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, announced at a meeting with the Implementation Committee on Crude oil Sales in Naira, on Monday in Abuja. A post on the official X page…

The Chairman, House of Representatives Committee on Banking & Ancillary Institutions, Honourable Eze Nwachukwu Eze; at the weekend in Enugu renewed the campaign for all agencies of the Federal Government to join the debt recovery drive of the Asset Management Corporation of Nigeria (AMCON). Eze said the recovery of such humongous amount of nearly N5trillion owed AMCON by a few…