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CSCS assures higher returns as ₦8.9bn dividend gets approval

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Why Islamic bank approved $1.8bn for Nigerian projects
News

Why Islamic bank approved $1.8bn for Nigerian projects

The Islamic Development Bank has revealed why the institution approved the sum of $1.8bn for Nigeria for Nigerian projects. According to The PUNCH, the President of the Saudi-based bank, Dr Mohamed Jasser at a meeting with the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, in Abuja on Monday stated that the funds […]

Honda boosts food production with new mechanised equipment
Agribusiness

Honda boosts food production with new mechanised equipment

Honda Manufacturing Nigeria Limited, over the weekend, launched a piece of agricultural equipment that would increase farmers’ yield as well as make large-scale farming efficient, in order to attain self-sufficiency in rice and other food production in Nigeria. The manufacturing company launched a hand-held shaft, for cultivating agricultural lands; a motorised backpack, for spraying chemicals […]

SMEs lament multiple taxes, poor power supply
Business

SMEs lament multiple taxes, poor power supply

Stakeholders in the Small and Medium-Scale Enterprises segment of the economy have lamented that lack of adequate power supply and multiple taxes are major issues strangling the growth of SMEs in Nigeria. The stakeholders identified SMEs as key drivers of the economy in Nigeria while calling on the government to do more in areas of […]

Energy transition: Osinbajo meets Siemens officials
Energy

Energy transition: Osinbajo meets Siemens officials

Vice President Yemi Osinbajo says the Federal Government looks forward to partnering with energy companies and other key stakeholders around the world in delivering its Energy Transition Plan. Osinbajo’s spokesman, Laolu Akande, in a statement on Saturday in Abuja,  said the vice president received a delegation from Siemens Energy led by its Chief Executive Officer, […]

Buhari unveils SDG financing framework
Oil and Gas

Buhari launches Pinnacle’s $1bn terminal at LFTZ

The President, Major General Muhammadu Buhari (ret’d) inaugurated the Pinnacle Oil and Gas FZE Terminal in Lekki Free Trade Zone of Lagos on Saturday saying the operations of the facility would ease congestion at the Apapa Port area. The President, in a video recording of the inauguration ceremony, said this new facility would reduce cost […]

Nigerians bought petrol N191.65 per litre September- NBS
News

Petrol cost average N191.65 per litre September– NBS

The National Bureau of Statistics on Saturday revealed that consumers paid an average of N191.65 for a litre of petrol in September. According to The News Agency of Nigeria, as obtained from the Petrol price watch for the month of September 2022, the average price for petrol saw a 16.26 per cent increase over the […]

Oil and Gas

Cooking gas prcie rose 60% one year – NBS

A report from the National Bureau of Statistics has revealed that the price of cooking gas soared by 60 per cent in one year. The News Agency of Nigeria reported that the average price of 5kg of cooking gas increased from N4,456.56 in August to N4,474.48 in September, the  (NBS) has stated. It stated in […]

Strategic Capital Investment
Banking

Polaris Bank announces new board

Strategic Capital Investment has appointed a new board of directors, just 24 hours after announcing the acquisition of Polaris Bank. The newly appointed board members will be in charge of navigating the bank’s affairs as it enters a new stage of growth. According to a corporate disclosure issued by the bank on Friday afternoon, the […]

Oil Theft: Nigeria loses $150m every two days
Oil and Gas

Why we lost our most-valued crude oil customers – FG

  The Chief Executive Officer of Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, has revealed why the country lost its most valued crude oil customers. FG on Thursday revealed that Nigeria lost its most valued crude oil customers, while some of its gas buyers now compete with the country in the same market. […]

Reps stops CBNs sale of Polaris Bank
Banking

CBN sells Polaris Bank N50bn

Strategic Capital Investment Limited has completed the acquisition of the entire Polaris Bank shares for N50 billion. The Central Bank of Nigeria which announced the sale of the bank in a press release on its website on Thursday said it worked in partnership with AMCON to complete the sale. “The Central Bank of Nigeria (CBN) […]

Telecommunications

Tariff hike: Telcos fume as FG orders reversal

  The decision of the Federal Government to order a reversal of the recent 10 per cent tarrif hike has left telecommunication companies fuming. By implication, Telcos like MTN Nigeria and Airtel, who had previously raised the cost of their data bundles by roughly 10%, will now need to go back to their previous prices […]

Kogi sues Dangote over Obajana ownership
News

Kogi sues Dangote over Obajana ownership

The Kogi State State Government has taken legal action against Dangote Industries Limited, the parent company of Dangote Cement Plc, regarding the ownership of the Obajana cement plant, a town in the Oworo region of the Lokoja Local Government Area. According to The PUNCH, the complaint was filed in the Kogi State High Court, Lokoja […]

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