Business

Lagos insists on valid planning permits for all

  • 16th May 2025
UK economy hits unexpected growth

Reforms position Nigeria as emerging investment hub –

  • 15th May 2025
Ogun cargo airport to employ 25000 youths on completion - Dapo Abiodun

Mamuda Beverages invests $50m in new industrial facility

  • 14th May 2025

Nigeria ships first Obodo crude blend, says NUPRC

  • 14th May 2025

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N130bn Sukuk listed on NGX, FMDQ - DMO

DMO raises N4.28bn from FGN savings bonds in May

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xAI updates Grok S’Africa’s ‘white genocide’ remarks controversy

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Humanoid robots will aid, not replace, human workers - China

Humanoid robots will aid, not replace, human workers –

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OpenAI tipped to join UAE mega data center project

OpenAI tipped to join UAE mega data center project

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Oil and Gas

Crude prices drop to $65, lowest since 2021

Oil prices dropped sharply to $65 per barrel this week after the United States imposed new import tariffs and an unexpected supply increase from OPEC+ flooded the market, wiping $10 off global benchmarks. This followed a brief rally last week when U.S. President Donald Trump announced tariffs on countries purchasing crude oil from Venezuela, tightening […]

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Expert urges SMEs embrace innovation for growth 

The CEO and Lead Innovator at Lalaa Consulting, Demola Aderibigbe, has urged small and medium-sized enterprises in Nigeria to embrace creativity and innovation in order to thrive and stay competitive with larger industry players. Speaking at the inaugural Academy of Creativity, Innovation & Disruption event in Lagos, he highlighted that SMEs must leverage these qualities […]

US Embassy in Nigeria moves to new visa service provider
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US cancels all visas for South Sudanese passport holders

The United States Secretary of State, Senator Marco Rubio, announced on Saturday that the US is revoking all visas for South Sudanese passport holders and blocking new arrivals. The move comes in response to South Sudan’s refusal to accept nationals who have been deported from the United States. “The State Department is taking actions to […]

Elon Musk announces upcoming release of AI chatbot Grok 3
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Elon Musk’s lawsuit against OpenAI starts in 2026

A federal judge has scheduled billionaire Elon Musk’s lawsuit against OpenAI for a jury trial in spring 2026, marking a significant development in the ongoing legal battle between Musk and OpenAI CEO Sam Altman. The case, which centers on Musk’s allegations that OpenAI abandoned its original nonprofit mission in favor of profit, will be heard […]

Business

ETranzact reports N5bn pre-tax profit for FY 2024

ETranzact International Plc reported a pre-tax profit of ₦5 billion for the year ended December 31, 2024, representing a 53.2% year-on-year increase from the ₦3.1 billion recorded in 2023. This significant growth underscores the company’s rising profitability and effective strategic expansion efforts in Nigeria’s fintech sector. ETranzact’s audited 2024 results, released on the Nigerian Exchange […]

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CBN injects $197.7m into FX market to ensure liquidity

The Central Bank of Nigeria injected $197.71 million into the foreign exchange market on April 4, 2025, as part of its ongoing efforts to ensure adequate liquidity and stabilize the market. This was disclosed in a statement by the Director of the Financial Markets Department,Dr. Omolara Omotunde Duke, who reaffirmed the Bank’s commitment to maintaining […]

Business

US begins enforcement of Trump’s 10% tariff, disrupts global trade

United States customs agents on Saturday began enforcing a 10% baseline tariff on imports from various countries, with higher tariffs on goods from 57 major trading partners set to begin next week. This action marked President Trump’s complete departure from the post-World War II system of agreed-upon tariff rates, opting instead for unilateral trade measures. […]

Oil and Gas

TotalEnergies posts N42.2b pre-tax profit for 2024

TotalEnergies Marketing Nigeria Plc reported a pre-tax profit of N42.2 billion for the year ended 31 December 2024, marking a 140.35% increase from the N17.5 billion recorded in 2023. The company’s full-year revenue surged by 63.83%, rising from ₦635.9 billion in 2023 to ₦1.04 trillion. White products, including Premium Motor Spirit, Automotive Gas Oil, and […]

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Musk, Bezos, Zuckerberg lose over $81b in two days

President Donald Trump’s announcement of new tariffs sent shockwaves through Wall Street, resulting in significant losses for the world’s wealthiest individuals. Over the two-day plunge, the combined losses wiped out $30.9 billion from Elon Musk’s net worth, $23.49 billion from Jeff Bezos’, and $27.34 billion from Mark Zuckerberg’s, making them the three richest people in […]

Lagos tops list of states with most external debt
Economy

Nigeria’s public debt rises to N144.67 in December 2024

Nigeria’s public debt surged by 48.58%, reaching N144.67 trillion ($94.23 billion) as of December 31, 2024, up from N97.34 trillion ($108.23 billion) at the close of 2023. This increase was disclosed in the latest report by the Debt Management Office on the country’s public debt profile. The report also showed a 1.65% quarter-on-quarter increase, from […]

Two arrested as Edo police bust illegal refinery
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Navy seizes vessels, destroys illegal refineries in March operation

The Nigerian Navy announced the seizure of vessels involved in crude oil theft and the destruction of several illegal refining sites during Operation Delta Sanity II in March. The Director of Naval Information, Commodore, Aiwuyor Adams-Aliu, made this disclosure in Abuja on Saturday, according to the News Agency of Nigeria. He stated that on March […]

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