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Shell, Ardova partner to boost energy sector productivity

Shell International has collaborated with Ardova Plc to create the inaugural Power Conference, which aims to encourage debate around productivity and competitiveness in the energy sector. Powering Nigeria’s Industries – Enhancing Productivity and Competitiveness,” was recently held in Lagos, according to The Punch. According to a statement from the corporation, the conference focused on the […]

Stanbic Bank Kenya bets on startups with $100m investment
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Price pressure, weak demand drives PMI to seven-month low

The Stanbic IBTC Purchasing Managers Index fell to a seven-month low amid weak demand and price pressures. The monthly PMI, issued on Monday, showed that the headline figure generated from the survey fell to 50.1 points in June from 52.1 in May, the lowest level in seven months, according to The Punch. Commenting on the […]

Dangote Refinery loses N32.5bn after petrol price cut
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Dangote refinery increases gasoil exports to West Africa

Dangote oil refinery is rapidly increasing its gasoil exports to West Africa, capturing market share from European refiners, according to traders and shipping data. Reuters reported that the $20 billion refinery is currently producing a lower grade of gasoil than expected as it awaits the restart of units necessary for producing cleaner fuels. As a […]

Dangote Refinery loses N32.5bn after petrol price cut
News

Dangote refinery: Marketers fear higher petrol price

Petroleum marketers are concerned that the petrol price from the Dangote refinery may be higher than anticipated, as it’s expected to hit the market two weeks from now. This follows the difficulty in sourcing crude locally from the international oil companies by Dangote Refinery. It continues to buy crude oil from the United States and […]

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Oil companies patronize illegal refineries, Tantita security claims

Tantita Security Services Nigeria Limited purportedly revealed on Monday that oil corporations buy refined automotive gas oil, also known as diesel, from clandestine refineries in numerous host communities around the Niger Delta region. This was disclosed by Tantita in Abuja during the ongoing Nigeria Oil and Gas Energy Week Conference, which is attended by both […]

Fraud losses decline in Nigerian banks in Q1 2024 - Report
Banking News

Bank directors buy N39bn shares amid sector recapitalisation

As the banking sector’s recapitalisation accelerates, some bank executives are beginning to bet on their companies by raising their stakes, according to The PUNCH. The analysis of the directors’ transactions with the Nigerian Exchange Limited from the end of May to June, shows bank directors purchased around 1.86 billion shares worth approximately N39.32 billion. The […]

News Tech

Meta rolls out monetization for Nigerian, Ghanaian creators

Social media giant, Meta has announced that content creators from Nigeria and Ghana can now start earning money on Facebook from Monday, July 1, 2024. The company has introduced two new monetization features to facilitate this: In-Stream Ads on Facebook and Facebook Ads on Reels. According to Meta’s statement, these features will allow creators to […]

News

MSMEs are backbone of global economies – Moniepoint

The Managing Director of Moniepoint MFB, Babatunde Olofin has commended Micro, Small, and Medium Enterprises as the backbone of the global economy and vital participants in reaching the Sustainable Development Goals. This was disclosed by Olofin during the World MSME Day celebrations, according to Thisday. In thestatement, Olofin stated that with the correct backing from […]

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NRC reports 84.91% revenue growth in Q1 of 2024

The Nigeria Railway Corporation has stated that its revenue increased by 84.91 per cent in 2024 compared to the first quarter of 2023. This was disclosed in the National Bureau of Statistics report for first quarter 2024. The corporation earned N1.42 billion in the the first quarter of 2024, contrary to the first three months […]

Economy News

Rising volume of non-bank transactions threaten financial stability – Cardoso

The governor of the Central Bank of Nigeria, Yemi Cardoso, has expressed concern about the increasing transaction volumes of Non-Bank Financial Institutions and Other Financial Institutions, noting major threats to financial stability. Cardoso, represented by the Acting Director of the CBN’s Other Financial Institutions Department, Abayomi Arogundade stated this on Monday at the 10th Meeting […]

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