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Seplat, Aradel, Oando post ₦7.05trn revenue amid US-Iran war

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NNPC debunks recruitment exercise

By Wilson Adekumola   The Nigerian National Petroleum Company Limited has debunked reports going viral in recent weeks on social media claiming that it was conducting recruitment exercise.   fake job postings that have been circulating online in recent weeks.   NNPC disclosed this in a statement signed by its management on Monday, stating that […]

Amazon to make movie on Altman's dramatic OpenAI exit, return
News Tech

OpenAI CEO emphasizes need for thoughtful AI regulation

The CEO of OpenAI, the company behind, ChatGPT, Sam Altman stated on Monday that while regulation could be done incorrectly, it is vital and should not be feared. He stated this in Taiwan amid widespread worries about the quick development of artificial intelligence. A global AI safety summit will be held in November in Britain […]

Amazon restructures Wondery Podcast Studio, cuts 110 jobs
News Tech

Amazon to invest $4b in AI company Anthropic

Amazon announced on Monday that it will invest up to $4 billion in cash in the AI company, Anthropic in an effort to compete with burgeoning cloud rivals on artificial intelligence. As part of the agreement, Anthropic’s technology will get early access to Amazon’s workers and cloud customers, allowing them to integrate it into their […]

Equity investors lose N1.5tn as bond yield rises
Business

Stock market loses N39bn due to higher trade volume

The local bourse closed down 0.11 percent week on week on Friday due to sluggish market momentum, with investors losing N39 billion. According to The Punch, when compared to the previous week’s figures of N36.886 trillion and 67,395.74 basis points, the market capitalization and the Nigerian Exchange Limited All Share Index both ended trading lower […]

Oil and Gas

NNPCL exports $1.7bn crude as production drops 12% – Report

The Nigerian National Petroleum Company Limited, acting on behalf of numerous stakeholders, facilitated the lifting of a total of 14.23 million barrels of crude oil in 2021, valued at $999.71 million. The Times reported that this is supported by the newly released Nigerian Extractives Industries Transparency Initiative 2021 Oil and Gas Report. According to the NEITI study, […]

Shareholders to get N1.5bn dividend - NGX Group
Business

NGX ASeM trades flat over low investors’ interest

The Nigerian Exchange Limited’s Alternative Securities Market board has been trading flat for weeks due to a lack of investor interest. The Punch reported that the board’s index has stayed constant at 658.99 basis points since July 19, 2023, according to statistics from the NGX. The ASeM index includes companies like Capital Oil, with a market […]

EFFC Dangote raid crashes Nigeria dollar bond one week - Bloomberg
News

Again, Dangote named ‘Brand of the Year’

Dangote Industries Limited has received the Brand of the Year award in acknowledgment of the company’s outstanding corporate performance over the last year. The Punch reported that the award category won by Dangote was the flagship in recognition of the company’s ongoing contributions to the economic development of Nigeria and Africa, Marketing Edge Publisher John Ajayi […]

NNPCL demolishes 34 illicit refineries
featured

NNPCL trades N2.6tn of crude for refined products

The Nigerian National Petroleum Company Limited traded crude oil worth N2.6 trillion for refined petroleum products in 2021, according to the most recent data from the Nigeria Extractive Industries Transparency Initiative, an organization under the federal government. The Punch reported that according to data on crude oil output taken from the NEITI’s recently issued 2021 […]

UBA begins $6bn project to support African SMEs
Banking

UBA begins $6bn project to support African SMEs

The United Bank for Africa has unveiled a $6 billion program to promote and strengthen the operations of small and medium-sized businesses across the African continent by offering reliable and all-encompassing financial options. The program would allow SMEs to obtain funding for small enterprises that specialize in the main industries of agro-processing, pharmaceuticals, automotive and […]

Conoil to issue N1.73bn dividend to shareholders
Business

Conoil to issue N1.73bn dividend to shareholders

Conoil Plc would distribute N1.73 billion to its shareholders as a dividend. This equals N2.50 per share for the fiscal year 2022. The Punch reported that the major oil marketer said in a statement released over the weekend. It stated that despite the country’s growth challenges and the challenging operating environment, its profit before tax increased […]

Meta plans fourth AI overhaul in six months
News Tech

Meta to launch AI chatbot for young users

Meta is getting ready to introduce a generative AI chatbot intended at younger users that will be termed “Gen AI Personas” internally, The Wall Street Journal reported. Following ChatGPT’s rise over the past year as one of the fastest-growing apps ever, the many “personas” aimed at enticing youthful users with more colourful behaviour. A “sassy […]

NASA returns from space with asteroid
News Tech

NASA returns from space with asteroid

NASA has successfully brought its first piece of asteroid back to Earth as the OSIRIS-REx mission released its capsule containing a sample obtained from the asteroid Bennu on Sunday. OSIRIS-REx has “brought something extraordinary: the largest asteroid sample ever received on Earth,” NASA Administrator Bill Nelson said on NASA TV. “It’s going to help scientists […]

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