Vice-President Kashim Shettima has said Nigeria is pursuing a $25 billion undersea gas pipeline project aimed at supplying natural gas to Europe through the West African coastline. Shettima disclosed this on Monday during a meeting with Vitol Group, the world’s largest independent commodity trader, at the Presidential Villa in...
BUSINESS
Stock market began the week on a positive note on Monday as investors gained N173 billion and performance indices soared by 0.25per cent. Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation climbed by N173 billion, rising to N70.635 trillion from N70.462 trillion on Friday. The All-Share Index also increased...
The Presidential Compressed Natural Gas Initiative (P-CNGI) has said the CNG sector has attracted over 500 million dollars investments and created over 10,000 direct jobs. The P-CNGI said that 255 new conversion centers that did not exist in 2024 and 53 daughter stations existed currently. Programme Director/Chief Executive Officer,...
Niger State Governor, Umar Bago has called for partnership with the Dangote Group in the exploration and development of the discovered crude oil blocks in Niger State’s Bida Basin. Bago said that the group would significantly contribute to the exploration project with its proven expertise in the energy sector...
The stock market on Friday closed the week on a bearish note, as key performance indicators dipped by 0.07 per cent. Specifically, the market capitalisation declined by N48 billion, or 0.07 per cent, to N70.462 trillion from N70.510 trillion recorded on Thursday. The All-Share Index also dropped by 0.07...
By PAUL EJIME – Mauritania’s Dr Sidi Ould Tah, elected the 9th president of the African Development Bank (AfDB) Group on 29th May 2025, is an economist with an impressive track record and experience in international finance and banking. However, his coming coincides with a period of a fragmented and conflict-prone world, with...
The Naira appreciated by ₦4.59 against the U.S. Dollar on Thursday, closing at ₦1,586.15 at the official foreign exchange market. Data from the Central Bank of Nigeria’s website showed that the Naira recorded a 0.28 per cent gain, indicating a slight but consistent upward trend. On Wednesday, the local...
The Debt Management Office (DMO) has said the recently issued Series VII Sovereign Sukuk valued at N300 billion attracted N2.205 trillion subscription. The DMO said this in a statement on Wednesday, in Abuja. According to the office, this represents a 735 per cent subscription level, a clear evidence of...
Nigerian stock market continued its bullish trend on Tuesday, recording a N1.086 trillion gain. Market capitalisation rose by N1.086 trillion, or 1.57 per cent, to close at N70.38 trillion, up from N69.291 trillion recorded on Monday. Similarly, the All-Share Index (ASI) rose by 1,721.29 points, or 1.57 per cent,...
A 12-year-old boy, Master Chiderije Mbah, winner of the Wema Bank One-Day Managing Director/ Chief Executive Officer (MD/CEO) Initiative, took over the reins of Wema Bank Plc on Tuesday, in commemoration of Children’s Day. The initiative is a celebration of potential, leadership and the boundless possibilities of the next...
Shell Nigeria Exploration and Production Company Ltd (SNEPCo) has said that Nigerian companies have a lot of opportunities to grow if they can take more advantage of its offshore and shallow water operations. Ronald Adams, the SNEPCo MD, made the remark in a statement issued to newsmen by Gladys...
Nigeria’s premier gas distribution company, Shell Nigeria Gas (SNG), last week engaged more than 100 gas off takers in the Agbara Ota industrial zone in Ogun State on ways of consolidating the gains from the supply of gas to the businesses. Set up in 1998 as a fully Shell-owned...
The Chartered Institute of Treasury Management (CITM) on Friday called on Nigeria’s monetary authorities to consider partially backing the Naira with gold reserves as a means of stabilising the currency. The Institute’s Registrar, Mr Adedoyin Olumide, who made the call during an interview with the News Agency of Nigeria...
By BARBARA KALU, Port Harcourt – Shell Nigeria Exploration and Production Company Ltd (SNEPCo) says Nigerian companies have a lot to benefit if they are prepared to take advantage of more opportunities in its offshore and shallow water oil and gas projects. Managing Director of SNEPCo, Ronald Adams, stated...
Finance Minister and coordinating Minister of the Economy, Mr. Olawale Edun, has charged the New Board of Directors of the Asset Management Corporation of Nigeria (AMCON), to speed up debt recoveries. The minister gave the charge on Wednesday in Abuja during the Inauguration of the New Board of AMCON....
The stock market on Wednesday closed on a negative note, as performance indices dipped by 0.10 per cent. Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation dropped by N70 billion, falling to N68.895 trillion from N68.965 trillion on Tuesday. The All-Share Index also declined by 111.37 points or 0.10...
President, Dangote Group Alhaji Aliko Dangote, on Wednesday advised governments at all levels to encourage domestic investors, nothing that only local investors can attract foreign investors in Nigeria. Dangote gave the advice at the Taraba International Investment Summit (TARAVEST) 2025 held in Jalingo. The News Agency of Nigeria reports...
Luft Pay TV on Wednesday inaugurated its entry into Nigeria’s competitive satellite television market with the promise of accessible, affordable, and locally relevant contents. The News Agency of Nigeria (NAN) reports that the inauguration, held in Lagos, is coming when Nigerians are groaning under incessant increases in subscription rates...
Dangote Petroleum Refinery and Petrochemicals has reaffirmed its commitment to maintaining stable petrol prices, even as global crude oil prices continue to fluctuate. The affirmation is contained in a statement issued on Monday in Lagos, the Group Chief Branding and Communications Officer of the company, Mr Anthony Chiejina. Chiejina...
The Central Bank of Nigeria (CBN) has reassured the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound. The CBN said this in a statement issued by its Acting Director, Corporate Communications Department, Mrs Hakama Sidi-Ali According to Sidi-Ali, the attention of the CBN...