Central Bank of Nigeria (CBN) has reiterated that its Early Exit Package (EEP) implemented in 2024 was entirely voluntary and not designed to target or marginalize employees from Northern Nigeria. CBN Deputy Governor (Economic Policy), Muhammad Abdullahi, made this clarification during a two-day Interactive Session on Government-Citizen Engagement held...
BUSINESS
By JOY ADARA, Abuja- Nigerian National Petroleum Company Limited (NNPC) Ltd has officially ruled out sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-graded rehabilitation and retention of the plant. The Group Chief Executive Officer (GCEO) of NNPC Limited, Bashir Bayo Ojulari, announced this at...
Euro strengthened on Monday after the United States and the European Union finalized a trade agreement, marking a significant step in averting a broader global trade conflict. On Sunday, during a meeting in Scotland, U.S. President Donald Trump and European Commission President Ursula von der Leyen unveiled a deal...
Crude oil prices saw an uptick on Monday following a new trade agreement between the United States and the European Union (EU), coupled with the possibility of extended tariff relief with China, easing fears of economic slowdown and reduced fuel demand. By 0035 GMT, Brent crude futures rose by...
FibreOne, a leading broadband provider in Nigeria, has revealed that the country’s significant broadband access deficit results in an estimated annual economic loss of $15 billion. This statement was made by FibreOne’s Chief Experience Officer, Yinka Isioye, during his keynote speech at the 21st Titans of Tech Conference, Expo,...
Nigerian stock market wrapped up the week on a high note, with investors gaining N793 billion on Friday. Market capitalization grew by N793 billion, a 0.94 percent rise, closing at N85.055 trillion, up from N84.262 trillion the previous day. The All-Share Index (ASI) also advanced by 1,252.93 points, or...
By ANIEFIOK UDONQUAK, Uyo – Ibom Air has announced the expansion of flight schedule on the Enugu and Calabar routes in line with its commitment to improving connectivity and offering greater convenience to passengers. According to the airline, effective July 25, 2025, flights from Lagos and Abuja to Calabar...
By CALLISTUS OFFOR, Abuja – In a strategic push to strengthen its footprint in Nigeria’s gas marketing and distribution value chain, NNPC Gas Marketing Limited (NGML) has signed a Natural Gas Sale and Purchase Agreement (GSPA) with CCETC Suk Power Limited, enabling the delivery of up to 44 MMscf/d...
Former Group Managing Director of FirstBank Nigeria, Dr Olabisi Onasanya, has said he is now vindicated after the Federal High Court in Lagos struck out the controversial loan-related case involving his name. Justice Chukwujekwu Aneke of the Federal High Court, Lagos on Wednesday, July 23, 2025 struck out the...
Central Bank of Nigeria (CBN) Governor, Mr. Yemi Cardoso, attributed the reduction in June’s headline inflation to stabilized energy prices and a steady foreign exchange market. Speaking in Abuja on Tuesday during the presentation of the 301st Monetary Policy Committee (MPC) communiqué, he highlighted key factors influencing the economy....
By MBAFAN ADE, Abuja – Group Chief Executive Officer of NNPC Ltd., Engr. Bashir Bayo Ojulari, has reaffirmed the Company’s commitment to dismantling structural bottlenecks towards laying a solid foundation for a self-sufficient refining ecosystem in Africa. Ojulari disclosed this while delivering a keynote address titled “Building an African...
By EZEKIEL OBI, Abuja- President of Dangote Group, Alhaji Aliko Dangote, has expressed concern over Africa’s reliance on importing over 120 million tonnes of refined fuel annually despite its vast crude oil production. Speaking at the inaugural West African Refined Fuel Conference in Abuja on Tuesday, hosted by the...
President Bola Tinubu on Tuesday evening, hosted billionaire industrialist Alhaji Aliko Dangote at the State House in Abuja for a private discussion. Though details remain under wraps, the meeting underscores the Nigerian government’s commitment to fostering private-sector-driven progress in the oil and gas industry. The talks come on the...
By DAVID IORJA, Abuja- President Bola Ahmed Tinubu has directed the National Single Window (NSW) Steering Committee to ensure the platform becomes fully operational by the first quarter of 2026. The directive was delivered during Tuesday’s fifth steering committee meeting at the State House, Abuja. The President was represented by his...
Central Bank of Nigeria (CBN) has maintained its Monetary Policy Rate (MPR) at 27.5%. CBN Governor Yemi Cardoso, announced this on Tuesday during a press briefing in Abuja following the 301st Monetary Policy Committee (MPC) meeting. Cardoso revealed that the decision to keep the lending rate unchanged was unanimous...
By MBAFAN ADE, Abuja- Nigerian National Petroleum Company Limited (NNPC Ltd.) has bolstered the nation’s finances, remitting N6.96 trillion to the Federation Account from January to May 2025, according to its June Monthly Report Summary released on Monday. The state-owned oil giant also reported a Profit After Tax (PAT)...
By JOY ADARA, Abuja – Nigerian stock market has recorded a significant gain of ₦152 billion, driven by increased investor interest in key stocks. The market’s bullish trend has extended the previous week’s four-day rally, with market capitalization rising to ₦83.393 trillion. The market capitalization opened at ₦83.241 trillion...
Nigeria’s real Gross Domestic Product (GDP) expanded by 3.13% year-on-year in the first quarter of 2025, according to a Monday report from the National Bureau of Statistics (NBS). This growth reflects a notable improvement over the 2.27% recorded in Q1 2024, propelled primarily by the services and industry sectors....
By OLA MODUPE, Lagos- ExxonMobil has named Jagir Baxi as the new Chairman, Managing Director, and Lead Country Manager for its Nigerian affiliates, including Esso Exploration and Production Nigeria Limited and Esso Exploration and Production Nigeria (Offshore East) Limited, succeeding Shane Harris. With extensive experience in global energy operations,...
MTN Nigeria has launched the Mega Billion Promo, a groundbreaking initiative aimed at rewarding the loyalty of its customers. The promo is designed to help cushion the effects of the economic downturn and recent tariff adjustments. A Grand Reward The Mega Billion Promo promises to be an exciting opportunity...