Strong indications have emerged that businesses and corporations in Nigeria are warming up to leverage the high-speed, capacity and low latency features of the forthcoming Fifth Generation (5G) network rollout in Nigeria. The intense anticipation and enthusiasm take life from the desire of digitally-literate Nigerians ready to harness the...
BUSINESS
By OLA MUDOPE, Lagos – Software Group, a global financial technology provider, has announced the launch of its Fast-track Agency Banking software for Nigerian banks that want to expand their reach at speed and competitive cost. In a statement issued on Thursday, the group said the launch would provide...
By TENEBE ANTHONIA, Lagos – Nigerian Exchange Group (NGX Group) Plc has announced that it has released its full audited results for the year 2021. The Group’s audited results revealed that its gross earnings grew to N6.8 billion from N6.0 billion, resulting in a 13 per cent increase, while...
The Group Managing Director, Nigeria National Petroleum Corporation Limited (NNPC) Malam Mele Kyari, says the corporation is being transformed to be the fifth Gas producing company in the world. Kyari noted that NNPC was currently working on a platform that would create a hub of gas industries that would...
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says Nigeria’s proven natural gas reserve has risen to 209.5 Trillion Cubic Feet (TCF) as at Jan. 1, 2022. Mr Farouk Ahmed, Chief Executive, NMDPRA, said this on Wednesday at the 2022 Nigeria International Energy Summit (NIES) in Abuja. The...
Some Domestic Airlines` Executive Officers have said that airfares hike is long overdue in Nigeria. The officers made the assertion during separate interviews with the News Agency of Nigeria (NAN) on Wednesday in Abuja. According to them, some charges to be paid by the airlines have been skyrocketed while...
Nestle Nigeria Plc says it recorded revenue of N351.8 billion as at the year ended Dec. 31, 2021. The company said this in a statement signed by Mrs Victoria Uwadoka, Corporate Communications and Public Affairs Manager, on Wednesday in Lagos. The figure represents 22.6 per cent growth over the...
U.S. companies Apple, Google, Ford, Harley-Davidson, Boeing and Exxon Mobil rebuked and rejected Russia for its invasion of Ukraine, under steady pressure from investors and consumers decrying the violence. Apple Inc late on Tuesday said it had stopped sales of iPhones and other products in Russia, adding that it...
Managing Director, Shell Nigeria Exploration and Production Company, Mrs. Elohor Aiboni; flanked by the Minister of State for Petroleum Resources, Chief Timipre Sylva; and the Executive Secretary and Chief Executive Officer, Nigerian Content Development and Monitoring Board, Mr. Simbi Wabote, celebrating the emergence of Aiboni as the 2021 Women...
Oil price surges to $105 a barrel ahead of a meeting of the Organisation of the Petroleum Exporting Countries (OPEC) and its allies. On Tuesday, Brent Crude futures settled up 7.35 percent to $105.66 a barrel, at 16.30 GMT+1. West Texas Intermediate Crude futures proportionally gained 7.54 percent to...
Chinese technology company, Hauwei Technologies on Tuesday said it had developed an intelligent pipeline monitoring system to help tackle crude oil theft in Nigeria. Mr Li Wei, Director of Huawei Nigeria Enterprise Business, made this known at a news briefing on the sidelines of the ongoing Nigerian International Energy...
Dangote Cement Plc says its commitment to environmental disclosure and sustainability has yielded desired result with the Carbon Disclosure Project (CDP) raising the company’s rating from C to B-. The Chief Executive Officer of the company, Mr Michel Puchercos, said this in a statement on Tuesday in Lagos, just...
The Group Managing Director, Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, has said International oil companies are leaving Nigeria and shifting their portfolios to where they can add value to the journey towards carbon net-zero commitment, Mr Kyari said this in a speech at the 2022 Nigerian International...
Zenith Bank Plc has announced gross earnings of N765.6 billion as at Dec. 31, 2021 compared with N696.5 billion achieved in the corresponding period in 2020. In the banks audited financial results for 2021, presented to the Nigeria Exchange Group (NGX) on Monday, it said the 10 per cent...
By JOY ADARA, Abuja – The Nigerian Communications Commission (NCC) is unwavering in its commitment to deploy a Revenue Assurance Solution (RAS) in the telecommunication sector to ensure a more robust Annual Operating Levy (AOL) administration in the telecom industry. This subject matter was the focus of an industry...
The Infrastructure Concession Regulatory Commission (ICRC) says Air Nigeria will begin to convey Nigerians before the end of President Muhammad Buhari’s administration. Acting Director-General (I-G) of the commission, Mr Michael Ohiani told the News Agency of Nigeria (NAN) in Abuja on Sunday, that the ICRC was now working round...
By JOY ADARA, Abuja – The Nigerian Communications Commission (NCC) has given concrete expression to the Federal Government’s drive to promote indigenous innovative technologies in Nigeria’s telecommunication sector. The NCC demonstrated this by organising the maiden prototype and research exposition aimed at showcasing no fewer than 10 prototypes, arising...
By OLA MUDOPE, Lagos – Airtel Nigeria, a telecommunications company, says it has been rated the fastest network provider in Nigeria according to Crowdsourcing firm, SpeedChecker. Airtel Nigeria made this known in a statement on Friday. It said that in SpeedChecker’s report in 2021 for Africa’s Mobile Network Champions,...
Provisional winners of the 3.5 Gigahertz (GHz) spectrum licence, MTN Communications Nigeria Plc and Mafab Communications Limited, have made their full payment of $273.6 million each for the 5G Spectrum license to the Nigerian Communications Commission. Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, officially...
The multinational holds 40 per cent in the partnership through MPNU and NNPC the remainder. Seplat Energy entered into a contract with a Nigerian unit of Texas-based supermajor Exxon Mobil, Mobil Producing Nigeria Unlimited (MPNU), with a view to procuring the latter’s entire oil assets in Africa’s biggest crude...