The past few years have witnessed rapid digital innovation and economic diversification in Nigeria, with online gaming being one of the primary growth drivers. The online casino business is one of such businesses that strongly impact the economy by creating jobs, encouraging digital payments, and generating tax revenue. A...
BUSINESS
The Federal Government on Wednesday directed the management of the Nigerian National Petroleum Company Ltd. (NNPCL) to increase oil production beyond current levels by the end of the year. The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, said this in an interview with the News Agency...
The Nigerian stock market extended its positive trend, appreciating by N307 billion amid increased buying interest. Market capitalisation rose by N307 billion or 0.45 per cent to close at N68.412 trillion, compared with N68.105 trillion on Tuesday. Similarly, the All-Share Index (ASI) also climbed by 488.73 points or 0.45...
Petroleum Technology Association of Nigeria (PETAN) says its consistent presence at the Offshore Technology Conference (OTC) has spurred over eight billion dollars in investments for Nigeria’s oil and gas sector. Its Chairman, Mr Wole Ogunsanya, disclosed this on Tuesday during the PETAN Luncheon and Panel Session held at the...
By DAVID IORJA, Abuja- The Nigerian government has sharply refuted claims by African Development Bank (AfDB) President Akinwumi Adesina that Nigerians are economically worse off today than in 1960, calling his GDP per capita figures inaccurate and his conclusions flawed. In a detailed statement shared on X on Monday,...
Investors on the Nigerian Exchange (NGX) Ltd. traded 2.200 billion shares worth N75.409 billion in 70,329 transactions during the week under review. This contrasts with 1.854 billion shares worth N56.025 billion traded last week in 51,386 deals. As a result, transaction value rose by 34.6 per cent, with investors...
The Federal Government has disbursed over N107 billion to no fewer than 900,000 beneficiaries across Nigeria’s six geo-political zones. The News Agency of Nigeria (NAN) reports that the disbursements is under the Presidential Grant and Loan Scheme for Micro, Small, and Medium Enterprises (MSMEs). The Managing Director of the...
The Naira depreciated on Friday at the official market, trading at N1,602.18 to the dollar. Data from the Central Bank of Nigeria (CBN) website showed that the Naira lost N5.49. This represents a 0.34 per cent loss when compared to the N1,596.69 per dollar recorded on Wednesday, April 30,...
By OLA MODUPE, Lagos- MTN Nigeria Communications Plc held its 2025 Annual General Meeting (AGM) in Lagos today, where shareholders reviewed the company’s full-year financial performance and endorsed its strategic priorities for the future. The AGM came on the heels of a strong first quarter in 2025, during which...
Ethiopian Airlines said it is intensifying efforts to promote tourism to and from Nigeria to boost the growing momentum of the industry. The Area Manager of Ethiopian Airlines, Nigeria, Mrs Firiehiwot Mekonnen, said this in a statement on Thursday in Lagos. Mekonnen said Nigeria was fast emerging as Africa’s...
Sen. Heineken Lokpobiri, Minister of State, Petroleum Resources (Oil), has described the Joint Venture (JV) between Nigerian National Petroleum Company Limited (NNPC Ltd.), Caverton Offshore Support Group and Stenabulk as a strategic industry alignment. Lokpobiri also said that the JV was a bold step toward enhancing shipping operations, strengthening...
MTN Nigeria Communications Plc generated N1.0 trillion in service revenue in the first quarter of 2025. This marks a 40.5 per cent increase from the N752.99 billion earned in Q1 2024. The company confirmed this in a corporate filing with the Nigerian Exchange Ltd. on Tuesday. Profit after tax...
The Nigerian Exchange Ltd. (NGX) on Tuesday transacted 733.05 million shares worth N35.288 billion in 16,619 transactions. This is in contrast with 500.59 million shares worth N12.110 billion that was traded in 17,637 deals earlier. Meanwhile, transactions in the shares of Fidelity Bank topped the activity chart with 285.15...
The Nigerian Communications Commission (NCC) is set to review the 2003 NCC Act, citing its growing disconnect from current and future technological realities. Executive Vice Chairman of NCC, Dr Aminu Maida, stated this during a Colloquium on Legislative Agenda: The Nigerian Communications Act 2003, on Tuesday in Lagos. The...
Guinness Nigeria Plc has said it is prioritising increased connection, purpose and impact, especially following the recent change in majority shareholding and as it celebrates its 75th anniversary. Its Managing Director, Mr Girish Sharma, who disclosed the focus in a statement on Tuesday in Lagos, said that this promises...
TotalEnergies Marketing Nigeria Plc has recorded N221.61 billion in revenue for the first quarter of 2025. This figure represents a year-on-year decline of 18 per cent when compared with the N269.84 billion posted in the first quarter of 2024. The company disclosed this in its financial results, which were...
The Nigerian stock market opened the week on a bullish note on Monday, gaining N228 billion on the Nigerian Exchange Ltd. Market capitalisation rose by N228 billion or 0.34 per cent and closed at N66.693 trillion compared to Friday’s figure of N66.465 trillion. Similarly, the All-Share Index (ASI) climbed...
The Nigeria Deposit Insurance Corporation (NDIC) has started payment of N46.6 billion in liquidation dividends to depositors of the defunct Heritage Bank. This is contained in statement on Sunday by Hawwau Gambo, Acting Head, Communication and Public Affairs. She said the funds were realised from sales of the bank’s...
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has said the Federal Government plans to reduce inflation rate to single digit and create more jobs. Edun stated this during a press conference addressed by the Nigerian economic team, as part of activities marking the...