By ANIEFIOK UDONQUAK, Uyo – Ibom Air, a wholly indigenous airline owned by the Akwa Ibom State Government has announced a revenue growth of 43 percent from N67bn in 2023 to N96bn in 2024. This announcement was contained in a statement issued by the company and signed by Annie...
BUSINESS
The Chairman of the Nigerian Exchange Group (NGX), Dr. Umaru Kwairanga, has called on the Dangote Group to list its refinery and fertilizer businesses on the Nigerian Exchange to enhance transparency, deepen market participation, and promote inclusive economic growth. Dr. Kwairanga made this call during a courtesy visit to...
By MBAFAN ADE, Abuja- The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced significant progress in attracting investments in Nigeria’s upstream oil and gas sector, as showcased at the recent Nigeria-China Sustainable Bilateral Business, Trade, and Investment Summit, which held in Lagos during the week. This landmark event brought...
Vice President Kashim Shettima announced that Nigeria is undergoing a silent but bold transformation under President Bola Tinubu led administration. Speaking at the Nigeria-Brazil Business Forum in Abuja, Shettima emphasized the renewed strategic alliance with Brazil, describing it as “grounded in intent and rich in potential for mutual growth”....
Nigerian stock market recorded a significant gain of N1.185 trillion, driven by strong buying interest in medium and large-capitalized stocks, including Dangote Sugar and Oando. This substantial growth has boosted the market’s overall performance, showcasing the resilience and potential of the Nigerian economy. The market capitalization surged by 1.57%...
Africa recorded a growth rate of 3.2% in 2024, despite the challenging global environment, according to the Afreximbank Research Report. The Group Chief Economist, Dr. Yemi Kale, disclosed this while presenting the 2025 African Trade and Economic Outlook (ATEO) Report in Abuja. Although the growth rate is an achievement,...
By JOY ADARA, Abuja- The Country Chairman of Shell Companies Nigeria, Mr. Osagie Okunbor, is set to retire this month after 39 years of dedicated service. The announcement was made by the company’s Communications Manager, Mrs. Gladys Afam-Anadu, who disclosed that a pre-retirement event had commenced on Tuesday in...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has attributed the recent increase in fuel prices to market deregulation. According to Mr. Chinedu Ukadike, IPMAN’s Public Relations Officer, “This is the nature of a deregulated market, prices rise and fall based on market forces and each marketer’s supply costs.”...
Nigeria Government’s revenue has risen to N6.9 trillion in the first quarter of 2025, marking a 40% increase from N5.2 trillion in the previous quarter. Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, disclosed this during a Citizens and Stakeholders’ Engagement on implementing President Bola...
By EZEKIEL OBI, Abuja- The Nigerian Ports Authority (NPA) has set an ambitious revenue target of N1.28 trillion for 2025, representing a 40% increase from the N894.8 billion it realized in 2024. NPA Managing Director Abubakar Dantsoho revealed this during the 2025 budget defense session at the House of...
By MBAFAN ADE, Abuja- The Naira has appreciated against the US dollar at the official market, trading at N1,547.36 to a dollar. According to data from the Central Bank of Nigeria (CBN), the Naira gained N2.05, representing a 0.13% increase compared to Thursday’s rate of N1,549.41. This gain marks...
The Nigerian stock market continued its bullish trend on Friday, ending the week with N175 billion gain. Market capitalisation rose by N175 billion, or 0.24 per cent, to close at N74.533 trillion, up from N74.358 trillion recorded on Thursday. Similarly, the All-Share Index (ASI) rose by 277.09 points, or...
The Nigerian Communications Commission (NCC) has emphasized the crucial role of telecom services in ensuring national security, particularly in addressing issues that require effective communication. According to the Executive Vice-Chairman of NCC, Dr. Aminu Maida, achieving national security would be impossible without effective telecommunication. “Telecommunication services are now vital...
By MBAFAN ADE, Abuja- The Federation Account Allocation Committee (FAAC) has shared N1.659 trillion May revenue among the Federal Government, states, and Local Government Councils (LGCs). According to the communiqué issued after the June meeting of FAAC, the total distributable revenue comprised statutory revenue of N863.895 billion, Value Added...
Nigerian stock market rebounded on Wednesday after a two-day loss, with investors gaining N1.184 trillion. The market capitalisation rose by N1.184 trillion, or 1.63%, to close at N73.681 trillion. The All-Share Index (ASI) also rose by 1,876.71 points, or 1.63%, settling at 116,786.87. According to the market report, “This...
By OLA MODUPE, Lagos- Air Peace Airline has announced the commencement of direct flights from Abuja to London’s Heathrow Airport on October 26, following a grant from the British authority. Chairman of Air Peace Airline, Dr. Allen Onyema revealed this at a news conference on Wednesday in Lagos. Dr....
Fidelity Bank Plc has rewarded 29 customers with a total of ₦30 million in its GAIM Season 6 savings promo. The winners emerged during the 4th, 5th, and 6th monthly draws, showcasing the bank’s commitment to financial literacy, saving culture, and customer loyalty. A standout winner was Mr. Kizito...
Amazon‘s CEO, Andy Jassy, has revealed that the company’s adoption of artificial intelligence (AI) will likely reduce the number of office workers needed. In an email to employees, Jassy wrote, “We will need fewer people doing some of the jobs that are being done today, and more people doing...
By OFFOR CALLISTUS, Abuja- Starting June 18, 2025, telecom subscribers in Nigeria will be charged directly by their mobile network operators for Unstructured Supplementary Service Data (USSD) services. Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), Mr. Gbenga Adebayo, announced this in a statement issued on...
By MBAFAN ADE, Abuja- Nigerian stock market witnessed a significant downturn on Tuesday, with investors losing ₦183 billion in total market value. The Nigerian Exchange Ltd. (NGX) market capitalization dropped to ₦72.497 trillion from ₦72.680 trillion. The All-Share Index fell by 348.61 points or 0.30%, closing at 114,910.16. Key...