Business

Dangote Petroleum Refinery is set to construct fuel storage tanks in Namibia, aiming to supply up to 1.6 million barrels of gasoline and diesel to southern African nations. The strategic move marks a major step in the refinery’s ambition to dominate the continent’s refined fuel supply chain and potentially reshape energy trade flows across the region. According to Reuters, the…

The Nigerian equities market on Thursday extended its bullish run to the seventh consecutive trading session as price uptick in Okomu Oil Plc and 69 others nudged the overall capitalization up by N1.76 trillion. The All-Share Index (ASI) gained by 2,457.13 points, representing a growth of 2.01 per cent to close at 124,446.80 points. Also, market capitalisation rose by N1.76…

United Bank for Africa  (UBA) senior executives recently concluded the half Year business review with the announcement of strategic expansion into key market across Africa.  Held at global headquarters in Lagos, Group Managing Director/CEO, Oliver Alawuba, brought together executives responsible for UBA’s 24 countries of operation. It was an opportunity to restate the Group’s pan-African strategy, and commitment to further…

-Says FAAN’s success should be measured by impact on Nigerians Kunle Sanni – Minister of Aviation and Aerospace Development, Festus Keyamo, has inaugurated the board of the Federal Airports Authority of Nigeria (FAAN) with a charge to focus not just on financial performance but on the direct impact of their work on ordinary Nigerians. Speaking during the inauguration ceremony in…

The Federal Government, through the Debt Management Office (DMO), has announced plans to raise up to N360billion from bond sales in the third quarter of 2025, according to its latest bond issuance calendar. The calendar shows that the DMO will reopen two existing instruments monthly, the 19.30 per cent FGN April 2029 bond and the 17.95 per cent FGN June…

The Nigeria Customs Service (NCS), Kano/Jigawa Area Command, has recorded another major breakthrough in the fight against illicit financial flows with the interception of over N653 million worth of undeclared foreign currencies at the Mallam Aminu Kano International Airport (MAKIA). The seizure was announced on Tuesday, during a press briefing held at the Customs House, Bompai, Kano, where the intercepted…

Dangote Refinery has again within a week interval reduced its ex-depot the price of Premium Motor Spirit (PMS), commonly known as petrol, from N840 per litre to N820 per litre, effective immediately. It would be recalled that the company last week reduced its ex-depot price from N880 to N840 per litre. With assurance of steady supply of petroleum products, more…

Stanbic IBTC Holdings has successfully concluded its Rights Issue, raising an impressive N148.7 billion to surpassed the Central Bank of Nigeria (CBN) recapitalisation requirements. This achievement comes alongside an extraordinary oversubscription rate of 21.9per cent, reflecting the firm belief and support from existing shareholders. This strategic initiative not only ensures that the company meets the stringent recapitalisation requirements mandated by…

The Central Bank of Nigeria (CBN) has directed commercial banks in the country to submit a capital restoration plan. The apex bank noted that the requirement is part of regulatory efforts to support the exit from the forbearance regime. CBN Director of Banking Supervision, Olubukola Akinwunmi, made this known in a circular published on its website on Monday. CBN explained…

The Nigerian National Petroleum Company Limited (NNPCL) has handed over 35 hybrid Compressed Natural Gas (CNG)-powered buses to the Presidential Initiative on Compressed Natural Gas (Pi-CNG).  During a brief ceremony held at the NNPC Towers on Monday, the Group CEO, NNPC Ltd., Engr. Bashir Ojulari reiterated the Company’s commitment to support the Federal Government’s gas aspirations.  The GCEO, who stated…