The Central Bank of Nigeria’s recapitalisation terms has been described as a needed drive capable of revolutionising the banking sector and making the government’s goal of attaining a $1 trillion economy by 2026 feasible. This position is contained in a report released by Agusto&Co, a global credit rating and research firm, on Tuesday. […]

The Nigerian Electricity Regulatory Commission (NERC) has announced an increase in the tariff payable by electricity customers to N225/kWh. This follows the recent increase of base price for natural gas from. $2.18 to $2.42 per metric million British thermal unit (mmbtu) by Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). […]

The Nigeria Customs Service (NCS) has announced an increase in its revenue, generating N1.347 trillion in the first quarter of 2024. This indicates a 122.35 percent increase compared to the N606.1 billion recorded within the same period in 2023. Read also: Nigeria Customs Service denies fraud allegations in e-auction process Bashir […]

First Bank recently published list of their debtors. The one wey shock me pass na University of Ibadan’s NASU. The body is owing N2billion. Wetin dem use am do?   1 Starcomms Plc 40,670,992,350.81 2 Absaf & Co Nigeria Limited 9,190,730,210.42 3 Saidon Africa Limited 7,400,539,827.05 4 Sanor Engineering Nigeria […]

Cadbury Nigeria Plc reported a pre-tax loss of N28.2 billion in FY 2023, marking a whopping 2269% decline from the N1.3 billion pre-tax profit posted in 2022. According to the company’s audited financial statement for 2023, Cadbury Nigeria posted a revenue of N80.4 billion in 2023, reflecting a 46% growth […]

Marhelm is a Singapore based platform that provides shipping data, commodities, and trade flow analysis. Marhelm @Marhelmdata The Dangote refinery has shipped its inaugural naphtha cargo to Asia and a fuel oil cargo to the United States

Forbes has listed Nigerian businessmen, Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola, as the top richest Nigerians in 2024. This comes as the combined wealth of Nigeria’s top three richest businessmen dropped slightly by 11.23 per cent to $25.3bn, according to the Forbes Real-Time Billionaires released on Tuesday. The […]

The pump price of Automotive Gas Oil, popularly called diesel, has dropped from about N1,700/litre which it sold for a few weeks ago, to around N1,350/litre in some locations across the country following the sale of the commodity by the Dangote Petroleum Refinery. It was gathered on Tuesday that the […]

The Nigerian government plans to triple energy prices in the coming weeks in a bid to revitalise the country’s energy sector and reduce substantial subsidies. Sources within the presidency familiar with the matter told Bloomberg that the proposed hike would see power companies permitted to increase prices to N200 ($0.15) […]

Local investors accounted for 88.22percent of equities worth N1.009trillion traded on the Nigerian Exchange Limited (NGX) in two months to February 2024. According to recently released data on domestic and foreign portfolio participation in Nigeria’s equity trading, foreigners traded equities worth N118.92billion or 11.78percent in the review two-month period while […]