Business and Economy

President Bola Tinubu has approved the appointment of the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND). This was announced in a State House Press Release by the Special Adviser to the President on Media …

Strategies adopted by Dangote Cement to increase sales and ensure an adequate supply of products to customers are yielding the desired results as domestic sales volume increased by 26.1 percent to 4.6Mt in the first quarter of 2024. According to the cement manufacturers’ unaudited results for the three months that …

CAIRO, Egypt, April 23, 2024 The African Export-Import Bank (Afreximbank) (www.Afreximbank.com) swept the stage at the recently concluded Bonds, Loans and Environmental, Social and Governance (ESG) Capital Markets Africa Awards 2024 ceremony, taking home six of the awards handed out at the event held in South Africa. Delivered on the sidelines …

By Sani Idris Kaduna, April 24, 2024 The Kaduna Internal Revenue Service (KADIRS) on Wednesday sealed  the United Bank for Africa (UBA) branches in the state metropolis over alleged N14.3million unpaid tax. Speaking to newsmen after the exercise, Hajiya Aysha Ahmad, the KADIRS Board Secretary/Legal Adviser, said the enforcement was …

Nigeria’s former President, Dr. Goodluck Jonathan, has described Akwa Ibom State as a safe haven for investment. The former president made this known when he led a team of investors on a business visit to the State Governor, Pastor Umo Eno at Government House, Uyo on Tuesday, April 23, 2024. …

Keen on optimising production from the nation’s hydrocarbon assets to boost revenues and meet the nation’s OPEC production quota, the Nigerian National Petroleum Company Limited (NNPC Ltd) and its Joint Venture partner in the Awoba Unit Field, Newcross Exploration and Production Ltd, have restarted production from the Awoba field which …

Former Vice Chancellor of University of Uyo and a leading Professor of Economics and Public Policy, Prof. Akpan Hogan Ekpo, has said that Nigerian economy cannot grow without constant power supply to enhance productivity and manufacturing to boost the economy. Ekpo said this at a public lecture titled, “The ‘Collapse’ …

L-R: Vice Chairman, Air Peace, Mrs Alice Onyema; Chairman, Air Peace, Dr Allen Onyema; MD, Fidelity Bank Plc, Dr Nneka Onyeali-Ikpe; and MD, Graviti Hill Ltd, Dr Ken Onyeali-Ikpe at a special event on Sunday, April 21, 2024, organised by the bank to celebrate Air Peace’s milestone of commencing flight …

Socio-Economic Rights and Accountability Project (SERAP) has urged Nigeria’s 36 state governors and the Minister of the Federal Capital Territory, Abuja, Mr. Nyesom Wike to “provide our organization with documents on the spending of trillions of FAAC allocations received by your state and the FCT since 1999, and to widely …

Ughelli, Delta State, April 17, 2024: Transcorp Power Plc (Transcorp Power), one of the electricity generating subsidiaries of Nigeria’s leading, listed conglomerate, Transnational Corporation Plc (Transcorp Group), has demonstrated impressive financial performance in its released Q1 2024 unaudited financial statements, for the period ended March 31, 2024. The Company recorded …

As part of its commitment to encourage learning and academic excellence, the Nigerian National Petroleum Company Limited (NNPC Ltd) and its Joint Venture partners in OML 18 – the Nigerian Content Development & Monitoring Board (NCDMB), Shell Nigeria Exploration and Production Company (SNEPCo), Total Energies EP Nigeria Ltd, Nigerian Agip …

The Nigerian Content Development and Monitoring Board (NCDMB) on Monday received a cheque of $1 million from Nedogas Development Company Limited (NDCL), being part of the return on investment (ROI) on one of the Board’s strategic investments. The cheque was presented by the Chairman of the company, Engr. Emeka Ene …

 ASR Africa Initiative Groundbreaking ceremony for the construction of N250 million office blocks for the College of Health Sciences, Usmanu Danfodiyo University, Sokoto on Tuesday, performed by Dr Ubon Udoh MD/CEO supported by Prof. Lawal Bilbis the University Vice-Chancellor By Muhammad Nasir Sokoto, April 16, 2024 The Abdul Samad Rabiu …

United Bank for Africa (UBA) Plc, led by its Group Managing Director/CEO Oliver Alawuba, disclosed its robust financial performance at the bank’s full year 2023 investor conference call held in Lagos over the weekend. Alawuba revealed that UBA is impressively capitalized, boasting shareholders’ funds exceeding N2 trillion. He assured stakeholders …

By Okeoghene Akubuike Abuja, April 14, 2024 The Executive Board of the International Monetary Fund (IMF) has selected Kristalina Georgieva to serve as IMF Managing Director for a second five-year term starting on Oct. 1, 2024. In a statement issued by the IMF Press Centre on Saturday, it said that …

Zenith Bank Plc has announced its audited results for the year ended December 31, 2023, achieving a remarkable triple-digit growth of 125% in gross earnings from NGN945.6 billion reported in 2022 to NGN2.132 trillion in 2023. According to the audited financial results for the 2023 financial year presented to the …

By Stanley Nwanosike Enugu, April 11, 2024 The Civil Liberties Organisation (CLO) has appealed to President Bola Tinubu and Senator Ireti Kingibe, representing the Federal Capital Territory (FCT), to intervene and stop the demolition of the 214-hectare Asokoro Estate, belonging to ex-Rep. member, Nicholas Ukachukwu. The demolition of the property …

… We’ll keep pushing new boundaries to satisfy our consumers ― Dangote The president of Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), Sir Odeiga Jideonwo, has commended the Dangote Group, led by its President, Aliko Dangote, for adding, “immense value to the Nigerian economy and still going stronger.” …

The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC Ltd.) Mr. Mele Kyari, has reiterated the crucial role of natural gas in fuelling economic growth and industrial development in Nigeria. Kyari, who was speaking at the public presentation of the book “The Rise of Gas: …

By Rukayat Adeyemi Lagos, April 8, 2024 Zenith Bank Plc, says its total assets grew to N20.368 billion for the year ended Dec. 31, 2023. Mr. Michael Otu, the Company Secretary of Zenith Bank, said this in the bank’s audited results for the year ended Dec. 31, 2023 sent to …

Modalities to deploy security boats is priority – Mobereola   The Spanish Ambassador to Nigeria, His Excellency, Ambassador Juan Ignacio Sell has declared that the Spanish Government is desirous to deepen cooperation with Nigeria through further collaboration with the Nigerian Maritime Administration and Safety Agency, NIMASA. Ambassador Juan made this declaration while …

CAIRO, Egypt, April 5, 2024 African Export-Import Bank (“Afreximbank” or the “Group”) has released the consolidated financial statements of the Bank and its subsidiaries for the year ended 31 December 2023. Largely propelled by the Bank’s and its subsidiaries’ growth, the Group’s results for the financial year ended 31 December …

Ughelli, Delta State, April 01, 2024 Transcorp Power Plc, one of the power subsidiaries of Nigeria’s leading listed conglomerate, Transnational Corporation Plc, has released its audited financial statements for the year ended December 31, 2023. The Company reported gross earnings of N142.1 billion for the 12 months, marking a strong …

By Rukayat Adeyemi Lagos, April 4, 2024 StanbicIBTC Nigeria PLC has declared to pay its shareholders a final dividend of N2.20 per ordinary share of 50k each, totaling N28.51 billion for the period ended Dec. 31, 2023. Mr. Chidi Okezie, Company Secretary, StanbicIBTC, announced this in a disclosure sent to …

Jos, April 3, 2024 The Nigeria Liquefied Natural Gas Limited (NLNG ), through its Hospital Support Programme (HSP), has inaugurated a twin theatre suite at the Accident and Emergency Unit of  the Jos University Teaching Hospital (JUTH), to enhance healthcare delivery. Mr. Andy Odeh, the General Manager, External Relations and …