Category: Business
Vice President Yemi Osinbajo, who is a major contender at the on-going All Progressives Congress (APC) special convention and primary, has tasked the delegates to vote for someone they believe in and someone they trust. It is for these reasons that I present myself to you for your consideration as the presidential candidate of our […]
Salt maker NASCON Allied Industries Plc said it has approved remuneration for its directors and board chairperson. The company’s board said in a regulatory filing on Tuesday it endorsed a pay of N3 million for its chairperson and N2.5 million for each of its non-executive directors, at its annual general meeting on Friday. The company’s non-executive directors […]
Access Bank said it has brokered a deal with the investment firm Centum Investment Plc to procure the 83.4 per cent interest the latter holds in Nairobi-based lender Sidian Bank. It is its fifth major acquisition outside its base Nigeria in 18 months. The binding pact allows the flagship unit of Nigeria’s top lender, Access Holdings […]
Prominent intellectuals and leaders of thought have said teaching of history must be given priority for Nigerians to know their past and exploits of past heroes in order to get things right. They include former Nigerian Ambassador to the Philippines, Dr Yemi Farounbi; foremost historian and former Commissioner in the old Oyo State, Prof. Bolanle […]
The Nigerian government spent $13 million on bitumen imports in 2020 despite the nation’s huge deposits, the director-general of the Mining Cadastre Office, Simon Nkom, has said. Mr Nkom disclosed this at the ongoing Nigeria-Africa Natural Resources and Energy Investment Summit in Abuja on Thursday. “Nigeria is blessed with 42.47 billion metric tonnes of bitumen reserves yet […]
Lagos State Government in partnership with Oando subsidiary, Oando Clean Energy Limited (OCEL), will roll out electric mass transit buses in the state. The agreement between the two parties was signed on Monday. According to a statement sent to the Nigerian Exchange Limited (NGX) by Oando, the oil firm will support the electric bus initiative […]
The Nigerian government has suspended its plans to borrow from the international debt market by offering Eurobond to raise funds for 2022 budget deficits. Ripples Nigeria in a previous report raised concerns on how tapping into the international debt market would be too expensive. The report also revealed that in March the $1.25 billion Eurobond […]
The Lagos State Government has unveiled traffic diversion plans as the Federal Government proceeds with the rehabilitation of the Lagos/Sagamu axis of the Lagos-Ibadan dual carriageway for a period of 6 months. This disclosure is contained in a statement issued by the Lagos State Commissioner for Transportation, Dr Frederic Oladeinde, on Monday in Lagos, saying […]
Long-term Bitcoin holders are sitting on their largest losses since the March 2020 COVID-19 selloff and the 2018-2019 bear market but may have to keep waiting for relief. According to Glassnode’s weekly report, the report calculated the long term holder losses by measuring the value of coins deposited to exchanges, aggregated realized losses from long-term […]
Naira fell against the U.S. dollar at the official market on Monday, Data posted by FMDQ, where forex is officially traded, showed that the currency closed at N420.25 per $1 at the official market. This implies a N0.50 or 0.12 per cent devaluation from N419.75 it exchanged in the previous session on Friday last week. The […]
The Lagos State Police Command has assured Lagosians of its readiness to prevent any breakdown of law and order in its enforcement of ban on Okada riders in 6 local government areas of the state. This is as the command has urged Lagos residents not to panic about the alleged plan by commercial motorcycle riders […]
The Nigeria Customs Service (NCS) revealed that the implementation of the e-customs project will generate $176 billion in 20 years. This was disclosed by the Comptroller-General, retired Col. Hameed Ali, on Monday in Abuja during the signing of the e-Customs concession agreement between the NCS, Africa Finance Corporation (AFC), and China’s Huawei Technologies Limited. He […]
The African Development Bank (AfDB) says Africa needs an annual investment of $32 billion to $40 billion along the energy value chain to achieve universal access for electricity by 2030. The AfDB’s African Economic Outlook 2022 unveiled at the Bank’s Annual Meetings on Thursday in Accra, Ghana, said the findings were done under the Bank’s New Deal […]
FBN Holdings Plc may have returned to a sustainable growth path as its 2021 financial points to a more-than-expected resilient near-term outlook with the commercial banking operations leading growth across key parameters. The report, released last week, shows that First Bank of Nigeria Limited, grew its total assets in the financial sector by 15.9 year-on-year […]
Crude oil price rose to over $121 per barrel on Monday evening as the increasing price of Automotive Gas Oil (AGO), otherwise known as diesel, persists in Nigeria, with the average cost of the product selling for N780 per litre in some filling stations and as high as N790 per litre in some of them. […]
