Business

The Nigerian National Petroleum Company Limited (NNPCL) has pledged to fast-track oil exploration in the Borno Basin, raising hopes of fresh investment, job creation and economic growth in the state. The commitment followed a meeting between NNPCL Board Chairman, Ahmadu Musa Kida, and Governor Babagana Zulum in Maiduguri. Zulum described Borno as commercially attractive, citing […]

In a major boost for African capital markets, the refinery’s public offer draws applications from all 54 African nations, with ₦2.15 trillion targeted from the share sale. Dangote Petroleum Refinery’s maiden public offer has attracted investors from 120 countries, spanning all six inhabited continents and every one of Africa’s 54 nations, in a sweeping international […]

Ayobami Oyalowo, Executive Director of Finance and Administration at the Ogun-Oshun River Basin Authority, has said reforms implemented under Central Bank of Nigeria (CBN) Governor Olayemi Cardoso have improved the foreign exchange market, strengthened external reserves and enhanced the resilience of the banking sector. Assessing Cardoso’s three-year tenure, Oyalowo said the apex bank had shifted […]

The Securities and Exchange Commission (SEC) has granted approval for an extension of the public offer period for Dangote Petroleum Refinery and Petrochemicals FZE, giving prospective investors an additional two weeks to subscribe to the company’s initial public offering (IPO). The offer, which commenced on September 14, 2026, was originally scheduled to close on October […]

Relief could be on the way for Nigeria’s public transport operators as the Federal Government announces a **30-day petrol price discount** aimed at easing the mounting pressure of high fuel costs. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele**, announced the measure on Thursday, October 8, during a briefing on petrol […]

Africa’s richest businessman, Aliko Dangote, has officially commenced work on a proposed $16 billion oil refinery in Kenya, a major investment expected to reshape the energy landscape across East Africa. The groundbreaking ceremony took place on Wednesday at Lamu Port in northern Kenya, with Kenyan President William Ruto, former Nigerian President Olusegun Obasanjo and other […]

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) and Azikel Refinery have begun discussions on a proposed direct offtake partnership aimed at improving access to locally refined petroleum products and strengthening supply across Nigeria. The development followed a high-level visit by PETROAN’s national executive leadership to the Azikel Refinery in Obunagha, Yenagoa, Bayelsa […]

The Nigerian National Petroleum Company Limited (NNPCL) has reported a significant improvement in its financial performance for the 2025 financial year, recording a profit after tax of N7.2 trillion. The company disclosed the figure during the presentation of its 2025 Audited Financial Statements on Tuesday. According to NNPCL Group Chief Executive Officer, Engr. Bashir Bayo […]

The Federal Government has introduced new rules that could see contractors, consultants and service providers barred from participating in federal procurement for periods ranging from three to five years. The new measure is contained in a circular titled “Implementation of the National Guideline on Debarment of Contractors,” signed by the Secretary to the Government of […]

The Nigerian National Petroleum Company Limited has hailed the $800 million Final Investment Decision on the Ima Gas Project as a major boost for Nigeria’s drive to attract fresh investment into its gas industry. The offshore project, being developed by AMNI International in partnership with TotalEnergies across Oil Mining Leases 112 and 117, is expected […]

*What would be the gain if you stock up your money in the bank.*What could be your other source of income if you only have one access to income.*You can always raise a capital to pursue more dreams if you can invest wisely*A man who does not think for himself does not think at all. […]

Liquidity in Nigeria’s banking system fell sharply on Thursday following a fresh Open Market Operations (OMO) intervention by the Central Bank of Nigeria, with available cash declining by ₦3.86tn. Market data referenced by AIICO Capital Limited in an investor note showed that system liquidity dropped 65.53 per cent, from ₦5.89tn to ₦2.03tn. The decline followed […]Read More