The Nigerian National Petroleum Company Limited (NNPCL) has underscored the significance of prioritising natural gas production and supply, particularly in the context of geopolitical dynamics and energy security in the global economy. The group chief executive officer (GCEO) of NNPC…
Dangote: Lower Fuel Price from Our Refinery Will Help Reduce Inflation
Upbeat about turnaround of nation’s economy •Restates commitment to Nigeria’s industrialisation •President congratulates Africa’s richest man on his 67th birthday Chairman of Dangote Group, Alhaji Aliko Dangote, yesterday, stressed that when the Dangote Petroleum Refinery becomes fully operational and starts…
How airlines are trying to edge out Air Peace from foreign routes – Shehu Sani
Former Kaduna Central Senator, Shehu Sani, has disclosed that foreign airlines are trying to edge out Air Peace from foreign routes. Sani said foreign airlines will continue to crash their fares until they edge out Air Peace from foreign routes.…
Nigerian banks cannot compete with their African peers on the basis of foreign currency- Bunmi Bajomo
The Head of Corporate Banking Group and Chief Operating Officer at Ecobank Transnational (ETI), Dr. Bunmi Bajomo has stated that Nigerian banks cannot compete with their peers in North and East Africa based on foreign currencies. She stated this during…
CBN sells dollars to BDCs below market rate at N1,101/$1
The Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change operators (BDCs), informing them of the sale of $10,000 to each BDC at a rate of N1,101/$1. In a circular seen by Naira metrics, each BDC…
CBN slashes BDC exchange rate to N1,117.5/$
The Central Bank of Nigeria, CBN, has slashed the exchange rate in the Bureaux De Change, BDC, segment of the forex market by 12 per cent or N152.23 to N1,117.5 per dollar even as it commenced another round of dollar…
NGX Group, Others Acquire 75% Stake in Ethiopian Securities Exchange
Nigerian Exchange Group Plc (NGX Group), and other investors have acquired a 75 per cent stake in the Ethiopian Securities Exchange (ESX). NGX Group is among the top institutional investors that have injected capital into the operationalisation of the bourse alongside…
$2.3bn Siemens power project transformers, substations arrive Nigeria
Electricity transformers and substations meant for the $2.3bn Siemens power project have arrived in the country as the project gains traction, Minister of Power, Adebayo Adelabu, said on Sunday. The development came a few months after the Federal Government renewed…
FULL LIST: NERC unveils Lagos areas enjoying 20-24 hours power supply.
The Nigerian Electricity Regulatory Commission, on Wednesday, approved an increase in electricity tariff for customers under the Band A classification. The Vice Chairman, NERC, Musliu Oseni, said the increase will see the customers paying N225 kilowatt per hour (KW/h) from the…
Dangote, Adenuga, Rabiu, Otedola on Forbes’ 2024 billionaires list
Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola are the only Nigerians who made it into the Forbes 2024 billionaires list. On Tuesday, Forbes said there will be more billionaires in 2024 despite inflation and political unrest. Forbes said…