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Dangote Cement, others generate 1,540 MW for energy independence, says Aliko Dangote
The President and Chief Executive Officer of Dangote Group, Aliko Dangote, said the group generates up to 1,540 megawatts for manufacturing operations in all its subsidiaries. Dangote disclosed this on Thursday while speaking during a fireside chat with the Prime Minister of Grenada, where he was a Special Guest. Dangote said his investment in power generation was to achieve energy…
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Increase of 2025 appropriation bill to N54.2trn: salute to a transparent President, by Kola Amzat
Literally, government budget is a projection of government’s revenues and expenditure for a specific period, usually referred to as a fiscal or financial year, which may or may not correspond with the calendar year. As fundamental as Appropriation Bill to government fiscal planning is, as well as maintaining financial focus in governance, successive leaders of government had totally been found…
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UAC of Nigeria declares 109% increase in profit to N25.8bn
UAC of Nigeria Plc has announced exceptional 2024 performance in its unaudited financial statements for 2024, as profit before tax stood at N25.8 billion, about 109 per cent increase over N12.34 billion reported in 2023 financial year. The leading diversified holding company achieved revenue of N197.6 billion in the year under review, a robust 64 per cent rise from N120.53…
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Dangote refinery exports two cargoes of jet fuel to Saudi Arabia
…FG must support Domestic industries to achieve a $1trn economy, says NESG Dangote Petroleum Refinery recently achieved a significant milestone by successfully exporting two jet fuel cargoes to Saudi Aramco, the world’s largest oil producer and a leading integrated oil and gas company globally. Saudi Aramco is the official Saudi Arabian Oil Company, which is a majority state-owned petroleum and…
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AU formalizes partnership with AFRIMA to promote creative, cultural industries in Africa
The African Union (AU) and the All-Africa Music Awards (AFRIMA) recently formalized its long-standing partnership in promoting Africa’s creative and cultural industries, particularly in the field of music. This MoU aims to strengthen the already existing partnership since 2014 when AFRIMA launched its first Award ceremony that honours exceptional African musical talents and the promotion of African music at the…
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BREAKING: Totalenergies Marketing Nigeria declares N27.82bn profit after tax in 2024
Totalenergies Marketing Nigeria Plc on Wednesday declared N27.82 billion profit after tax in its unaudited full year ended December 31, 2024. This is an increase of 115 per cent from N12.91billion reported in 2023 full financial year. The petroleum marketing company listed on the Nigerian Exchange Limited (NGX) also declared N42.27billion profit before tax in 2024, about 140 per cent…
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FG moves to cut port operations cost by 25%, says Oyetola
The Minister of Marine and Blue Economy, Adeboyega Oyetola on Tuesday disclosed a move by the Federal Government to roll out the National Single Window (NSW) as part of efforts to cut the cost of doing business in Nigerian ports by at least 25 per cent. Speaking in Lagos at a stakeholders’ forum, Oyetola hinted that the implementation of the…
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Four Israeli soldiers swapped for 200 Palestinians
Hamas freed four female Israeli soldiers on Saturday in exchange for 200 Palestinian prisoners, the second swap under the Gaza truce, although Israel halted families from returning to bombed-out north Gaza over a delay in another hostage’s release. Reuters in a report stated that the four freed Israelis were led onto a podium in Gaza City amid a large crowd…
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US-bound plane with 256 onboard develops technical fault, returns to Lagos
A Boeing 787-8, departing Lagos for Washington Dulles reportedly declared an emergency and returned to Lagos. According to PUNCH Online, the plane crew kept the emergency transponder code 7700 (Emergency signal) with the control tower until it landed after establishing a return track to Lagos. The aircraft, registered N27903, is a widebody aircraft that is over 13 years old and…
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CBN approves release of FX Code amid driving ethical conduct
The Central Bank of Nigeria (CBN) has officially approved the release of the Nigerian Foreign Exchange (FX) Code, a move aimed at fostering ethical conduct and transparency within the nation’s foreign exchange market. In a statement on the apex bank’s website, it disclosed that the Code, which will serve as a vital guideline for the banking industry, is designed to…
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