Business Archives - News Desk Nigeria

Dangote Net Worth Hits $36.5bn

NewsDeskNgJun 11, 2026June 11, 20260

Dangote’s wealth rises to $36.5bn as Bloomberg ranks him 61st richest globally. Africa’s richest man, Aliko Dangote, has added about $6.5 billion to his personal fortune since the beginning of 2026, pushing his net worth to approximately $36.5 billion and reinforcing his position as the continent’s wealthiest individual.According to data...

Seplat Energy Names Tony Elumelu Chairman, Appoints Effiong Okon CEO

NewsDeskNgJun 9, 2026June 9, 20260

Seplat energy unveils succession plan that will see Tony Elumelu chair the board and Effiong Okon lead operations. Seplat Energy Plc has announced a major leadership transition that will see businessman Tony Elumelu become Chairman from January 1, 2027, while veteran oil and gas executive Effiong Okon assumes the role...

GSK To Acquire Nuvalent For $10.6bn In Cancer Drug Push

NewsDeskNgJun 9, 2026June 9, 20260

GSK agrees to acquire Nuvalent for $10.6bn, strengthening its position in cancer drug development and expanding its oncology pipeline. GSK has agreed to acquire US listed biotech company Nuvalent in a $10.6 billion all cash transaction, signalling a stronger push into oncology as the drugmaker reshapes its long-term growth strategy...

Gold Falls To Two-Month Low As US Rate-Hike Expectations Strengthen

NewsDeskNgJun 8, 2026June 8, 20260

Gold prices slide to a two-month low as strong US jobs data fuels rate-hike expectations. Gold prices extended losses on Monday, falling to their lowest level in more than two months as investors reacted to growing expectations that the US Federal Reserve could raise interest rates before the end of...

Nestoil, Neconde Reclaim Headquarters As IGP Complies with Supreme Court Ruling

NewsDeskNgJun 7, 2026June 7, 20260

Nestoil and Neconde have regained control of their headquarters following a Supreme Court judgment overturning asset-freezing orders. Nestoil Limited and Neconde Energy Limited have regained possession of their corporate headquarters following compliance by the Inspector General of Police (IGP) with a recent Supreme Court judgment that restored control of the...

Tegbe, Chinese Envoy Move To Deepen Nigeria-China Cooperation On Power, Infrastructure

NewsDeskNgJun 5, 2026June 5, 20260

Nigeria and China deepen cooperation on power, infrastructure and industrial development after strategic talks in Abuja. Nigeria and China have intensified efforts to strengthen bilateral cooperation in key sectors of the economy, including electricity, infrastructure and industrial development, following high-level talks between the Director-General of the Nigeria-China Strategic Partnership (NCSP),...

Meta Accuses Australia of Free Trade Breach Over Proposed Tech Tax

NewsDeskNgJun 4, 2026June 4, 20260

Meta has accused Australia of breaching its free trade agreement with the United States after Canberra proposed a new tax on major technology companies that fail to strike licensing deals with local media organisations. The company, which owns Facebook and Instagram, said the planned levy would be “indefensible” and argued...

Shell Continued Oil Operations In Nigeria Despite Internal Warnings Over Pollution Risks, BBC Reports

NewsDeskNgJun 3, 2026June 3, 20260

Documents show Shell pumped oil through Nigerian pipeline for years despite evidence of environmental pollution concerns emerging now British multinational Shell continued operating a major oil pipeline in Nigeria for years despite internal warnings that it was causing widespread environmental damage, according to internal documents. The files, which include emails,...

Blackstone Raises Record $13.1bn for Largest Asia Private Equity Fund

NewsDeskNgJun 2, 2026June 2, 20260

Blackstone raises a record $13.1bn Asia fund as investors seek growth opportunities beyond volatile global markets. Alternative asset manager Blackstone has raised $13.1 billion for its latest Asia-focused private equity fund, surpassing its original target and establishing the largest Asia private equity fund in the firm’s history. The fund, known...

Supreme Court Sets Aside Appeal Court Order Freezing Nestoil, Neconde Oil Assets

NewsDeskNgJun 1, 2026June 1, 20260

Supreme Court overturns Appeal Court ruling that froze assets of Nestoil and Neconde Oil in a major legal victory. The Supreme Court has ruled in favour of Nestoil Limited and Neconde Energy Limited, setting aside a Court of Appeal order that froze the assets of the two oil and gas...