Nigeria’s petrol imports hit eight-year low amid refining expansion
Nigeria’s petrol imports fell to their lowest level in eight years in September, according to a new report, as ongoing government reforms…
Business
Paramount expands portfolio with acquisition of The Free Press
Paramount announced on Monday that it will acquire The Free Press, a digital news outlet founded as an alternative to United States…
Stock market plummets over proposed 25% capital gains tax
Nigeria’s capital market is in turmoil following fresh concerns over the impending 25 per cent Capital Gains Tax on share disposals, which…
Fintechs drive N71.5trn transactions in 2024 – NIBBSS
Nigerian Fintechs dominate transaction volumes in the digital payment space while traditional banks focus on translating digital activity into strong revenue growth.…
Sahara Group targets 350,000 barrels oil production in five years
Sahara Group, one of Africa’s leading energy and infrastructure conglomerates, has announced ambitious plans to ramp up its upstream crude oil production…
Africa must move beyond raw mineral exports, says minister
The Minister of Solid Minerals Development and Chairman of the African Minerals Strategy Group, Dr. Dele Alake, has urged a bold new…
NUPRC reports 762% surge in rig count, new investments
Nigeria’s upstream petroleum regulator has announced major progress in the oil and gas sector, reporting a 762 per cent increase in rig…
Naira rises to ₦1,465 against dollar amid stronger FX inflow
The naira extended its rally last week, closing at ₦1,465/$ on the official market, driven by a weaker U.S. dollar—following soft U.S.…
UAC secures FCCPC approval, completes Chivita, Hollandia acquisition
UAC of Nigeria PLC announced that it has finalized the acquisition of Chivita|Hollandia, following approval from the Federal Competition and Consumer Protection…
Nigeria is exciting to invest in now — Billionaire Bayo Ogunlesi
President Bola Tinubu has secured a powerful endorsement from Nigerian-American billionaire and global infrastructure titan, Adebayo Ogunlesi, a development that could mark…
SEC fines Stanbic IBTC N50.1m over GTCO share offer breach
The Securities and Exchange Commission has fined Stanbic IBTC Capital Limited N50.145 million for regulatory breaches related to Guaranty Trust Holding Company…
Adebayo Ogunlesi eyes investments in Nigeria’s ports, aviation
Nigerian-born billionaire Adebayo Ogunlesi, founder of Global Infrastructure Partners and a Goldman Sachs board member, has signaled potential investments in Nigeria’s ports…