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Transcorp top gainers chart as NGX closes at 78,020.54 points
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Equity market begins week with ₦52bn surge

The Nigerian Exchange started the week strong, gaining N52.17 billion in market capitalization. The Nigerian Exchange saw increased market activity on Monday, with the All Share Index rising by 83.31 points to 106,621.91, pushing the year-to-date gain to 3.59%. Eterna Plc led the gainers’ chart with a 9.96 per cent appreciation, closing at N37.55 per […]

FG to enforce 'drill or drop' policy to boost oil production
News

74 Chinese firms interested in Nigeria’s oil sector – NUPRC

Approximately 74 Chinese companies have expressed interest in investing in Nigeria’s oil and gas sector, as part of a broader group of 216 Chinese firms aiming to invest across various sectors of the Nigerian economy, according to a statement issued by the Nigerian Upstream Petroleum Regulatory Commission on Monday. The Chairman of the House Committee […]

News

FIRS targets higher tax-to-GDP ratio with e-invoicing rollout

The Federal Inland Revenue Service is pushing for large tax consultants to adopt the electronic invoicing system, emphasizing its role in improving Nigeria’s tax-to-GDP ratio. The system is expected to enhance tax compliance, increase transparency, and reduce revenue leakages. The FIRS made this call on Monday in Lagos during a stakeholder engagement forum on the […]

30 injured, jet fuel spills in tanker collision near England coast
News

30 injured, jet fuel spills in tanker collision near England coast

Two ships on Monday collided off the eastern coast of England on Monday near the port of Grimsby involved the U.S.-flagged tanker MV Stena Immaculate—carrying jet fuel from Greece—and the Portugal-flagged container ship Solong, en route from Scotland to the Netherlands. All 37 crew members aboard both ships have been accounted for, with one person […]

NNPCL reports N2.69trn in tax expenses for 2023
News

NNPC halts naira-for-crude deal, impacting Dangote, others

The Nigerian National Petroleum Company Limited has suspended the naira-for-crude oil swap arrangement with domestic refiners, including the Dangote Refinery and other private operators. This decision, effective immediately, has raised concerns about its potential impact on Nigeria’s energy sector and the broader economy, according to BusinessDay. According to sources privy to the information, NNPC has […]

News

Fire incident at Aba power facility contained – Management

Geometric Power, an integrated power company said it has successfully contained a fire outbreak at its facility in Osisioma Industrial Layout, Aba, early Monday. According to the statement by the company, the affected building was previously used by the defunct South African firm Group 5 during construction and had been largely unused for over 12 […]

MTN, Airtel generate N3.67trn data, voice revenue in 2024 H1
News

MTN, Airtel cut $1.2bn debt to reduce FX burden

MTN Nigeria Communications Plc and Airtel Africa have significantly reduced their foreign debt, repaying a total of $1.2 billion in 2024. This move aims to ease the burden of foreign exchange volatility and support their return to profitability. After the naira’s sharp depreciation in 2023, MTN Nigeria and Airtel Africa recorded $1.56 billion in foreign […]

News

Blackout: US embassy reschedules visa applications in Lagos, Abuja

The United States Department of State has attributed the recent visa application challenges for Nigerians to a partial system outage and assured that affected interviews will be rescheduled. It added that interviews will be rescheduled for affected applicants. This was disclosed in a statement by the press officer at the Office of Public and Congressional […]

News

Deceased retirees’ relatives receive N274bn in death benefits – PenCom

The National Pension Commission has disbursed N274.34 billion in death benefits to 45,976 beneficiaries over the past five years. This was revealed in its latest Pension Industry Performance Dashboard. The payments were made to the legal beneficiaries of deceased contributors under the Contributory Pension Scheme. Data from PenCom shows that 2024 recorded the highest death […]

News

NCDMB acquires 20% stake in 100,000bpd Rivers refinery project

The Nigerian Content Development and Monitoring Board has acquired a 20% equity stake in a 100,000 barrels per day refinery project in Rivers State. The project is being developed by African Refinery Group Ltd in collaboration with the Nigerian National Petroleum Company Ltd. This was disclosed by NCDMB via its official X account (formerly Twitter). […]

News

UK-Nigeria trade hits £7.8bn

Nigeria-United Kingdom trade is currently valued at £7.8 billion, according to UK Deputy High Commissioner, Mrs. Gill Lever. She made this known at the launch of a British Franchise Body Shop in Nigeria, the first of its kind in West Africa. Lever reaffirmed the UK’s commitment as Nigeria’s partner in progress. She said, “And our […]

Seplat reports 11% increase in production after SEPNU acquisition
News

Seplat reports 11% increase in production after SEPNU acquisition

Seplat Energy Plc has recorded an 11% surge in total production following its acquisition of Mobil Producing Nigeria Unlimited, now rebranded as Seplat Energy Producing Nigeria Unlimited. This was disclosed in the company’s audited financial results for the year ended December 31, 2024. According to the report, Seplat’s onshore assets averaged 48,618 barrels of oil […]

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