Business

With the President Bola Tinubu reforms in the oil & gas sector that drive activiitiies,, Seplat Energy Plc, Conoil Plklc, and two others petroelium marketing companied listed on the Nigerian Exchange Limited (NGX) reported N1.18 trillion revenue in half year ended June 2024, about 115per cent increase from N547.74 billion reported in half year ended June 30, 2023. The other…

The Federal Airports Authority of Nigeria (FAAN) under the leadership of Managing Director/Chief Executive Mrs. Olubunmi Kuku has been praised for its committed efforts to improve federal airports across the country. Vice President of the Airline Operators of Nigeria (AON) and Chief Executive Officer of Air Peace, Dr. Allen Onyema, delivered a vote of confidence in FAAN’s management during a…

Dangote Refinery has denied fixing petrol prices at N600 per litre, as claimed by marketers early on Tuesday, August 13, 2024. The company spokesperson, Anthony Chiejina, disclosed this in a statement on Tuesday evening. The Independent Petroleum Marketers Association of Nigeria (IPMAN) had claimed that the Dangote Petroleum Refinery will sell its Premium Motor Spirit, popularly called petrol, at N600…

Industry leaders highlighted the telecommunications sector as a pivotal force in Nigeria’s economic growth at a recent town hall event organized by Financial Derivatives Company (FDC). The event, themed “Telecoms Industry 2.0: The Next Investment Frontier in Nigeria,” brought together key stakeholders to discuss the industry’s critical role in shaping the future of the Nigerian capital market. Group Managing Director…

Access Holdings Plc has extended its Rights Issue exercise till August 23, 2024, in response to recent nationwide protest that disrupted operations of businesses. The Pan-African financial institution seeks to raise 17,772,612,811 ordinary shares of N0.50 each at a price of N19.75 per share through Rights Issue offers. The offer will be issued on the basis of one (1) new…

The equities market on Tuesday sustained bearish position, as price depreciation in Nestle Nigeria Plc and 28 others dragged the market lower by N279 billion. The Nigerian Exchange Limited   All-Share Index (NGX) declined by 490.93 per cent or 0.50 per cent, to close at 97,390.01 basis points. Similarly, the overall market capitalisation value shed N279 billion to close at N55.296…

The Central Bank of Nigeria (CBN) on Tuesday said has reintroduced the publication of several key economic reports. Ag. Director, Corporate Communications, CBN, Mrs. Hakama Sidi Ali in a signed statement reaffirmed the apex bank’s commitment to fostering transparency and accountability in the Nigerian economy. The report reads, “These reports, including the Purchasing Managers’ Index (PMI), Business Expectation Survey (BES),…

The Nigerian National Petroleum Corporation (NNPC) Limited has debunked report that it is involved in the sabotage of the Dangote Refinery, highlighting its substantial investment in the $20 billion plant. The Dangote Refinery has been embroiled in an ongoing dispute with Nigerian oil sector authorities regarding the supply of crude oil. In a recent interview on the Bereke Family Radio…

Ecobank has announced that its first-ever Fintech Challenge semifinal event will be held in Lagos, Nigeria. Scheduled for Wednesday, August 14, the hybrid event will take place at the Ecobank Pan African Centre (EPAC) Lagos. The 2024 “Ecobank Fintech Challenge had over 1,550 applications from 70 countries from which only 40 semi-finalists were shortlisted. After reviewing their applications, a jury…

An investment firm, Barbican Capital Ltd, has dragged First Bank Nigeria Holdings FBNH, before a Federal High Court in Lagos over the alleged alteration of its 5.4billion shares by the bank. In the suit no. FHC/L/CS/ 1172/24, filed on its behalf by Bode Olanipekun, SAN,  Barbican Capital claimed that over the years and at different times, it cummulatively acquired about…