Economy
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CNG trucks: Nigerians rally behind Dangote refinery as NUPENG threatens strike
Nigerians on social media have rallied behind the Dangote Petroleum Refinery in the wake of opposition from the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) over the refinery’s proposed deployment of 4,000 Compressed Natural Gas (CNG)-powered trucks for fuel distribution. NUPENG’s declaration of a nationwide strike in protest against the initiative has ignited widespread debate across digital platforms,…
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United Nigeria Airlines acquires six Boeing 737-800NG aircraft
As part of the ambitious expansion plan, United Nigeria Airlines has announced the acquisition of six Boeing 737-800 Next Generation (NG) aircraft, in a landmark deal sealed with America’s Southwest Airlines and Boeing. The deal also includes plans for an additional four aircraft, bringing the total acquisition to 10. With impressive fuel efficiency from advanced aerodynamics and engines, the 737-800…
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Naira closes at N1,513/$ at official market
The Naira on Monday depreciated by 0.099 per cent to close at N1,513.00 at the Nigerian Foreign Exchange Market (NFEM) as against N1,511.50 the dollar it closed last week. In the parallel market, the naira appreciated to N1,527 against the dollar, making it the highest level in over a month. This is against Friday’s closing rate of N1,530.96 against the…
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Equities market appreciates by 0.24% by commence new week positive
The domestic equities market on Monday commenced on a positive position as investors’ investments appreciated by 0.24 per cent. The major market indicator, Nigerrian Exchange Limited All-Share Index (NGX ASI) up by 227.68 points or 0.24 per cent to close at 96,205.85 basis points, while the market capitalisation appreciated by N262 billion to close at N88.199 trillion. Looking ahead, Coronation…
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AIICO Insurance, other insurance firms dominate top 10 best performing stocks in August
A total of 10 listed companies emerged as top-performing stocks in the month of August 2025, with most of them being insurance companies. The others are: Mutual Benefits Assurance, AIICO Insurance, Veritas Kapital Assurance, Guinea Insurance, Regency Alliance Insurance, NCR Nigeria, Coronation Insurance, Linkage Assurance, Universal Insurance and Ellah Lakes. Reviewing the performance, it was discovered that, Mutual Benefits Assurance’s…
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PHOTO NEWS: Cardoso promotes Nigerian-European trade, investment & exchanges
The European Business Chamber of Commerce (Eurocham) Nigeria, during the weekend hosted the Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, as Guest Speaker at its Exclusive Business Forum, held in Lagos. The high-level engagement, which featured a fireside chat with Governor Cardoso, brought together the distinguished C-level executives from EU member companies. Cardoso, during the fireside chat, discussed…
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Customs board approves $300 duty-free threshold for imports, warns officers against unethical behaviour’
The Nigeria Customs Service (NCS) board has approved a formal de-minimis threshold of $300 for low-value consignments imported via express shipments and passenger baggage. The board said the move is intended to simplify clearance, boost e-commerce and reduce delays at ports and entry points. According to a statement issued on Sunday by the National Public Relations Officer for Comptroller-General of…
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Equities market drops by N832bn in first trading week September
The equities market dropped by N832 billion in the first trading week in September 2025, as weak sentiment dominate trading activity. The Nigerian Exchange Limited All Share Index (ASI) shed 0.94 per cent week-on-week to close at 138,980.01 points. Market capitalisation fell by N832 billion to N87.937 trillion, trimming the year-to-date return to 35.03 per cent. The persistent downturn highlights…
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Oramah, others reaffirm commitment to Global Africa
Bolaji Adebiyi, Algiers Afreximbank President, Prof. Benedict Oramah, along with political and business leaders across Africa and the Diaspora, have reaffirmed their commitment to a Global Africa that will develop into a single market for the benefit of its over two billion people. The leaders spoke in Algiers, Algeria, during the Diaspora Day segment of the ongoing Intra-African Trade Fair,…
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UBA extends N157.8bn rights issue offer till September 19
In a move to allow more shareholders participate in its current offer, the management of United Bank for Africa Plc (UBA) has extended its N157.8billion rights issue exercise till September 19, 2025. The group company secretary/legal counsel, UBA, Bili Odum in a statement stated that the initial scheduled to close on Friday, September 5, 2025, has been extended by two…
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