Business

The ministry of arts, culture and creative economy has secured a $200 million investment from the African Export-Import Bank (Afreximbank) to strengthen Nigeria’s creative industry. In a statement on Tuesday, the ministry said the investment was announced at an event organised by Nigeria titled “Destination 2030: Nigeria Everywhere,” during the just-concluded United Nations General Assembly […] More

The Nigerian National Petroleum Company Limited, NNPCL, has delivered a total of 48.6 million barrels of crude oil to Dangote Petroleum Refinery in the past 10 months, Vanguard investigations have revealed. Details of the deliveries contained in official data on the transaction sighted by Vanguard showed that 3.4 million barrels (mb) were supplied in December […] More

The AU Agenda 2063 is an ambitious framework aimed at transforming Africa into a global powerhouse of the future. Mr Kalu made the plea in a communique he issued in Abuja on Monday after leading Nigeria’s delegation to the Conference of Speakers of African Parliaments in Midrand, South Africa. He said that by integrating the […] More

The National Information Technology Development Agency (NITDA) on Friday said that reports had shown that younger female entrepreneurs are more educated than their male counterparts. The Director-General, NITDA, Kashifu Inuwa, said this in his goodwill message at the Women Entrepreneurs and Executives in Tech Summit (WEETS) 2024 in Lagos. The News Agency of Nigeria reports […] More

The Naira on Friday appreciated at the official market, trading at ₦1,540.78 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the naira gained ₦35.32. This represents a 2.24 per cent gain when compared to the previous trading […] More

The Federal Government has announced the commencement of crude oil sales to local refineries and the purchase of petroleum products in Naira. The announcement was made in a statement released by the Federal Ministry of Information and National Orientation on Saturday, September 14. The statement reads: “In a landmark move towards reducing pressure on the […] More

Nigerian commercial banks have suffered a massive loss of N42.6 billion to fraud within just three months, according to a report released by the Financial Institutions Training Centre (FITC). The report covers the period from April to June 2024 and reveals a sharp surge in fraudulent activities across banking platforms, marking a significant increase from […] More

Beginning Sunday, marketers will commence lifting of PMS from the Dangote refinery, according to Business Day. According to insights from BusinessDay, Dangote Refinery is poised to begin distributing its refined petrol to marketers throughout Nigeria this Sunday. According to sources, the price of petrol at the pump will stay the same even with the entry […] More

The President of the Petroleum Products Retail Outlets Owners Association, Gillis-Harry, expressed that local marketers are unaware of the pricing for petrol from Dangote Refinery, making it impossible for them to consider a boycott of the product. He believes that the Dangote Refinery should disclose the pricing for its PMS. He remarked that marketers are […] More

The Dangote Refinery is facing challenges in selling approximately 29 tankers of diesel daily, primarily due to reduced demand from oil marketers. The Vice President of Dangote Industries remarked that oil marketers currently acquire just 3% of the products from Dangote Refinery, as they are opting out due to the lower pricing. He said, “As […] More

In the second quarter of 2024, the Company Income Tax (CIT) was recorded at N2.47 trillion, reflecting a substantial growth rate of 150.83% compared to the previous quarter when it stood at N984.61 billion in Q1 2024. In the second quarter of 2024, local payments amounted to N1.35 trillion, whereas foreign CIT payments accounted for […] More