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Dangote asks NNPC, marketers to stop fuel importation, boasts sufficient supply

The Chairman of Dangote Group, Aliko Dangote, has called on petroleum marketers, including the Nigerian National Petroleum Company Limited, to source petrol directly from his refinery to fulfill local demand. This announcement followed closed-door discussions with President Bola Tinubu at the Aso Rock Villa in Abuja. Dangote confirmed the refinery’s capability to produce over 30 […]

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Food security: FG unveils initiative to cultivate 750,000 hectares

The Federal Government has unveiled an initiative to cultivate 750,000 hectares of land for maize, wheat, rice, and cassava farming, aiming to address the rising food inflation in the country. This effort is part of the National Agricultural Growth Scheme Agro-pocket project. This was disclosed by the Minister of State for Agriculture, Senator Aliyu, during […]

TikTok removes more Universal Music songs as conflict worsens
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TikTok founder, Zhang Yiming, ranked China richest man

The founder of ByteDance, Zhang Yiming, has officially become China’s richest individual, according to the latest rankings from Hurun Research Institute. With a personal fortune of $49.3 billion, Zhang has overtaken Zhong Shanshan, Chairperson of Nongfu Spring, who has held the top position for the past three years, according to CNBC. Zhong’s wealth fell 24% […]

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Telecom operators losing billions to vandalism, theft – NCC

The Executive Vice Chairman of the Nigerian Communications Commission, Dr. Aminu Maida, has emphasized the severe challenges currently confronting telecommunications operators in Nigeria, such as frequent fiber cuts, vandalism, and equipment theft, which are leading to losses in the billions of Naira. His comments follow President Bola Tinubu’s recent Executive Order designating telecom infrastructure as […]

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Elumelu Foundation supports 20,000 African entrepreneurs with $5,000

Heirs Holdings and the Tony Elumelu Foundation have announced a provision of $5,000 in seed capital to young African entrepreneurs, aimed at stimulating economic growth across the continent. This initiative was revealed during the Future Investment Initiative, New Africa Summit in Saudi Arabia, where the Chairman of Heirs Holdings and Founder of the foundation, Tony […]

Moniepoint raises $110m in funding
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Moniepoint raises $110m in funding

Nigerian fintech Moniepoint has secured $110 million in a funding round led by Development Partners International, according to TechCabal. This new capital infusion nearly triples the company’s valuation, propelling it to $1 billion and positioning Moniepoint as Africa’s latest unicorn. Founded in 2015, Moniepoint has now joined the ranks of African fintech giants alongside companies […]

Access Bank nears final stages of National Bank of Kenya acquisition
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Access Bank plans US expansion in 2026

Access Bank has announced plans to enter the U.S. market by the first quarter of 2026, further solidifying its position as a leading African banking institution on the global stage. The Group Managing Director and CEO of Access Bank Plc, Mr. Roosevelt Ogbonna, announces on Monday that the financial institution is committed to expanding its […]

Customers oppose Discos' plan to recover prepaid meters
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IBEDC, Bresson sign N180bn 24-hour electricity deal for Ogun community

Bresson AS Nigeria Limited and Ibadan Electricity Distribution Company have officially signed a Power Purchase Agreement valued at N180 billion to provide 24-hour electricity to Magboro, Ogun State. The deal, signed on Monday in Lagos, represents a major advancement in efforts to deliver uninterrupted and affordable power to the region, according to The PUNCH. Under […]

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600,000 small-scale farmers to benefit from FG’s support

The Federal Government has unveiled plans to support 600,000 small-scale farmers nationwide as part of its strategy to enhance food production and combat rising inflation. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, made this disclosure during a press briefing for the Nigerian delegation at the 2024 IMF/World Bank Annual […]

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FG okays licenses for nine modular refineries

The Federal Government, via the Nigerian Midstream and Downstream Petroleum Regulatory Authority has granted licenses for nine modular refineries. This was disclosed by the Chief Executive of NMDPRA, Farouk Ahmed, during the 2024 Oil Trading & Logistics Africa Downstream Energy Week held in Lagos on Monday, according to The Punch. He said that the licenses […]

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Banking

HSBC records $8.5bn pre-tax profit in Q3

Banking giant HSBC said Tuesday that pre-tax profit in the third quarter rose 10 percent year-on-year, citing revenue growth in two of its divisions, days after the lender announced an organisational overhaul. The rise in pre-tax profit to $8.5 billion reflected a strong performance in its wealth management division as well as higher revenues in […]

Aviation auditors begin security audits of Lagos, Abuja airports
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Four free trade zones draw $8bn in investments – Officials

Four free trade zones have attracted a total investment of $8 billion, enhancing local economic activity and international trade relations, according to officials of the FTZs. The Lagos Free Trade Zone drew $2.5 billion, the Lekki Free Trade Zone attracted $4 billion, Alaro City received $1 billion, and the Lagos Deep Offshore Logistics garnered $500 […]