Experts have indicated that the commencement of production at the Dangote Petroleum Refinery may not lead to a substantial decrease in petrol and diesel prices. Despite the refinery’s strategic location in Lagos, Nigeria, the input costs for its operations are heavily import-dependent, and the volatility of foreign exchange rates is […]

Dangote Sets Another Record as Refinery’s Electricity Surpasses Nigeria’s Eleven Years Capacity Nigeria added barely 760 megawatts of power to the national grid in eleven years; in contrast, the Dangote refinery doubled that amount and produced 1,500 megawatts in a shorter amount of time. Nigeria has the capacity to generate […]

Femi Otedola, billionaire businessman and chairman of FBN Holdings, has regained his position as the majority shareholder of First Bank. According to corporate filings on the Nigerian Exchange Group (NGX) on Thursday, Otedola now owns 9.41 percent shares in the bank. This became possible after he purchased the group’s shares valued […]

The naira, Nigeria’s currency on Wednesday closed on a flat note with a marginal loss of 0.02 percent at the official foreign exchange (FX) market, following a decline in the dollar sales by market operators. At the Nigerian Autonomous Foreign Exchange Market (NAFEM), FX trading resumed on Wednesday after a […]

The Nigerian government and the Space Exploration and Research Agency (SERA) Delaware, a United States-based company, are set to launch the first human spaceflight in Africa, to send the first Nigerian to space. Uche Nnaji, minister of innovation, science and technology disclosed this in Abuja at the signing of the […]

Michael Achimugu, the Director of Public Affairs and Consumer Protection of the Nigeria Civil Aviation Authority (NCAA), has said that Festus Keyamo the Minister of aviation and aerospace development and Chris Najomo, Acting Director of General Civil Aviation were pivoted to Nigeria’s 71.04 per cent score during the recently concluded International Civil […]

Experts say external reserves will increase rapidly as Nigeria begins to see some foreign inflows. Nigeria‘s foreign reserves have risen by 2.19 percent month-on-month, following streams of dollar inflows from international financial institutions. Data from the Central Bank of Nigeria (CBN) revealed that external reserves grew to $33.159 billion as […]

Zenith Bank Plc, United Bank for Africa, Stanbic IBTC Holdings are the top three banks who donated the most to charity in the first three months of 2024, according to BusinessDay analysis. Zenith Bank Plc recorded a CSR donation of N1.63 billion, United Bank for Africa’s CSR donation stood at […]