Naira depreciates against dollar as FX supply drops
by The naira depreciated against the dollar at the foreign exchange market to resume trading after the June 12 Democracy Day celebration as FX turnover transactions …
Category: Business
Fidelity Bank leads trading as equities gain N324bn
Fidelity Bank Plc was the most active stock on Monday at the stock market as a strong positive sentiment led Nigerian equities to a net …
Business / ExxonMobil / NNPC / seplat
NNPC withdraws suits against ExxonMobil on $1.28bn asset sales to Seplat
The Nigerian National Petroleum Company Limited, NNPCL, has filed a motion to withdraw its legal action against several subsidiaries of Mobil Nigeria as part of …
We’ve repaid $2.4bn of $5.5bn Refinery debt – Dangote
The Chairman of Dangote Group, Aliko Dangote, has revealed that the company has paid off $2.4 billion out of the $5.5 billion loan it took …
Business / Nigeria's CPI / US
US inflation eases as FDC forecast Nigeria’s CPI to hit 34% in May
The United States inflation figure eased to 3.4 percent in May from 3.6 percent in April, while the Financial Derivatives Company Limited forecasted that Nigeria’s …
Nigeria crude oil production drops to 1.25mbpd – OPEC
Nigeria’s average crude oil production in May dropped to 1.25 million barrels per day (bpd) from 1.28 million bpd recorded in April 2024, according to …
Business / governors / News / power plants
Electricity: Governors ask Nigeria govt to refund $10bn equity investment in power plants
State governors have called for the refund of state governments’ full equity investments in the estimated sum of $10 billion in National Integrated Power Projects …
Nigerian govt collected N2tn revenue from VAT, CIT in Q1 2024 – NBS
The Nigerian Government collected N2.027.61 trillion as revenue from Value Added Tax (VAT) and Company Income Tax (CIT) in the first quarter of 2024. The …
NUPRC reveals firms ineligible to bid for 2024 oil block licences in Nigeria
The Nigerian Upstream Petroleum Regulatory Commission has revealed that the 2024 oil block bid will not include firms and investors without financial capacity and technical …