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NGX halts trading of delisted-GSK shares
featured

GSK gets SEC approval to delist from NGX

GlaxoSmithKline Consumer Nigeria Plc has announced that it has received formal Securities and Exchange Commission approval for its proposed scheme of arrangement. This will lead to minority investors getting a total cash payment of N17.42 per share for each share owned. GlaxoSmithKline UK, a prominent pharmaceutical company, announced its pullout from Nigeria in August after more […]

Port Harcourt Disco promises clients impactful year
Electricity

Port Harcourt Disco promises clients impactful year

The Management of the Port Harcourt Electricity Distribution Plc has guaranteed customers within its franchise, a new year of positive impact as it launched the business year. According to Arise News, PHED’s Managing Director and Chief Executive Officer, Dr. Benson Uwheru, offered the assurance at a strategic discussion with business executives from across the coverage region. The MD reiterated […]

Amazon plans stand-alone app for payments in India
Tech

Amazon lays off staff from Buy with Prime division

Amazon on Thursday, announced that it is letting go of less than 5% of its workforce at its Buy with Prime division. Buy with Prime, which debuted in 2022, provides fulfilment and shipping services via its logistics network to businesses that aren’t Amazon merchants. The division is still a high priority, according to Amazon, which […]

FG relocates FAAN headquarters from Abuja to Lagos
Aviation

FG relocates FAAN headquarters from Abuja to Lagos

The federal government has announced the relocation of the Federal Airport Authority of Nigeria from Abuja to Lagos. FAAN’s managing director and chief executive officer, Olubunmi Kuku, stated this in a circular dated January 15, 2024. According to Kuku, the Minister of Aviation and Aerospace, Festus Keyamo, gave the order to relocate the headquarters to Lagos. In […]

Students sign up for Cousera AI courses every minute - CEO
Tech

Students sign up for Cousera AI courses every minute – CEO

For its artificial intelligence courses in 2023, the American edutech platform Coursera adds a new student per minute on average, according to CEO Jeff Maggioncalda’s statement on Thursday. “I’d say the real hotspot is generative AI because it affects so many people,” Jeff told Reuters at the World Economic Forum in Davos. With the help […]

Top 10 billionaires in the world 
featured

Top 10 billionaires in the world 

The Forbes Real – Time Billionaires list has revealed that Elon Musk is the world’s wealthiest person as of 18 January 2024, with a staggering net worth of over $227 billion. He is the CEO of a number of companies, including electric car manufacturer Tesla and space exploration company SpaceX and his recently purchased Twitter now known […]

Meta’s director Sheryl Sandberg steps down
Tech

Meta’s director Sheryl Sandberg steps down

The former chief operating officer of Meta, Sheryl Sandberg, on Wednesday said on Facebook that she will be leaving her role as a director of the company in May when her term comes to an end. In the post, Sandberg stated, “Meta business is strong and well-positioned for the future, so this feels like the […]

Equity market loses N92bn as stocks tumbles
featured

Nigeria’s stock market crosses 90,000 mark

Nigeria’s stock market is now the greatest in the world, according to a strong close on Wednesday that helped it overcome Argentina, which it trailed last week. BusinessDay reported that the Nigerian Exchange Limited All Share Index climbed 2.38 per cent on Wednesday, reaching the 90,000 mark as bulls dominated trading. The market is up 20.45 per […]

Dangote Plc becomes most valuable company in Nigeria
Business

Dangote Plc becomes most valuable company in Nigeria

Dangote Cement Plc on Wednesday, surpassed Airtel Africa Plc to become the most valuable company on the Nigerian Exchange Limited, with a 9.98 percent increase in share price. In little than a week, the richest man in Africa rose from third place to the top with his main firm. On November 1, 2023, Airtel Africa […]

Oil and Gas

No plan to leave Nigeria – Shell

Shell Plc has dismissed reports that it may leave Nigeria after selling its onshore business in the Niger Delta. Recall that Shell said on Tuesday that it has “reached an agreement to sell its oil business in the Niger Delta, the Shell Petroleum Development Company of Nigeria Limited” to Renaissance Africa Energy. The announcement sparked a […]

Crude hits $83 as Nigeria's export passes 1.4mbpd
Oil and Gas

Nigeria’s crude oil production hits 1.4mbd – OPEC

A report published by the Organization of Petroleum Exporting Countries, has revealed that Nigeria’s crude oil production will increase to 1.418 million barrels per day in December 2023. The PUNCH reported that Nigeria’s crude oil output grew by 100mb/d from 1.319mbpd in November, according to secondary sources cited by OPEC in its Monthly Oil Market Report for […]

Top ten oil producing countries in Africa
Oil and Gas

Top ten oil producing countries in Africa

It has been a turbulent year for Africa’s top oil producers, with global oil demand falling 11% in the first half of 2020 and OPEC+ eliminating 9.7 million barrels per day from the market in a historic agreement last April. African producers are now attempting to increase output to pre-COVID-19 levels as OPEC progressively reduces […]

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