Business Archives - Page 2 of 59

Nigeria’s Crude Oil Output Hits Six-Year High, Exceeds OPEC Quota

NewsDeskNgJul 13, 2026July 13, 20260

Nigeria exceeds 104% of its OPEC quota as crude oil production hits its highest monthly level in over six years. Nigeria’s crude oil and gas production increased to an average of 1,735,398 barrels per day in June 2026, marking a fourth consecutive month of growth and pushing the country above...

Onyema: Nigeria Must Promote Its Tourism Assets To Boost Foreign Exchange

NewsDeskNgJul 13, 2026July 13, 20260

Allen Onyema says promoting Nigeria’s tourism attractions will draw global visitors, strengthen the economy and increase foreign exchange earnings. The Chairman and CEO of Air Peace, Dr. Allen Onyema, has urged tour operators to promote Nigerian destinations to attract international visitors, noting this will not only bring in the needed...

Apple Sues OpenAI Over Trade Secrets, Claims Former Employees Stole Confidential Hardware Data

NewsDeskNgJul 11, 2026July 11, 20260

Apple sues OpenAI, alleging former employees stole confidential hardware trade secrets to accelerate the ChatGPT maker’s consumer device ambitions. Apple has filed a lawsuit against OpenAI and two former employees, accusing them of stealing trade secrets to help the ChatGPT maker expand into the consumer hardware market. The lawsuit, filed...

Nigeria Graduates First Sugar Specialists In Push For 2 Million MT Annual Output

NewsDeskNgJul 9, 2026July 9, 20260

Programme equips technical workforce to improve farm productivity, strengthen factory efficiency and reduce Nigeria’s dependence on sugar imports. Nigeria has taken a significant step towards achieving its target of producing two million metric tonnes (MT) of sugar annually, as National Sugar Development Council (NSDC) graduated the first cohort of specialists...

ExxonMobil Begins $1bn Usan Project To Boost Nigeria’s Oil Production

NewsDeskNgJul 9, 2026July 9, 20260

ExxonMobil deepwater investment will add 40,000 barrels daily, generate $1.2 billion revenue and revive drilling after decade-long inactivity nationwide. American energy giant, ExxonMobil, through its Nigerian affiliate, Esso Exploration and Production Nigeria Limited, on Wednesday announced the commencement of the on-block execution of the $1 billion Usan Infill Project in...

Volkswagen Faces Showdown Over Plan To Cut 100,000 Jobs, Shut Four German Plants

NewsDeskNgJul 9, 2026July 9, 20260

Volkswagen faces fierce union resistance as executives consider cutting 100,000 jobs and closing four German factories amid restructuring. Volkswagen is facing one of the most critical moments in its history as its supervisory board meets on Thursday to consider a sweeping restructuring proposal that could see up to 100,000 jobs...

Shettima, Okonjo-Iweala To Headline 2026 Delta Investment Summit

NewsDeskNgJul 8, 2026July 8, 20260

Delta State says investors from Brazil and China will join Shettima and Okonjo-Iweala to explore key investment opportunities The Delta State Government has said that 25 prospective investors from Brazil and a host of others from China have indicated interest in the forthcoming Delta State Investment and Economic Summit,Vice-President Kashim...

Oando Reports N204.8bn Profit 2025, Targets 50,000 Barrels Daily Output In 2026

NewsDeskNgJul 7, 2026July 7, 20260

Oando reports N204.8 billion profit as higher oil and gas production strengthens cash flow and supports ambitious 2026 growth plans. Oando Plc has reported a Profit After Tax (PAT) of N204.8 billion for the financial year ended December 31, 2025, as the indigenous energy company ramped up crude oil and...

Dangote Cement Plans 20% Emissions Cut, 80 Million-Tonne Capacity By 2030

NewsDeskNgJul 6, 2026July 6, 20260

Dangote Cement plans lower carbon emissions, higher production capacity and expanded exports under its Vision 2030 sustainability strategy across Africa. Dangote Cement Plc has unveiled a sustainability roadmap aimed at reducing its carbon emissions by 20 per cent and expanding its installed production capacity to 80 million tonnes per annum...

First Bank Failed To Meet MoU Obligations To GHL, Rules Supreme Court; Nigeria Lost $70M, Lawyer Says

NewsDeskNgJul 4, 2026July 4, 20260

Nigeria reportedly lost more than $70 million in crude oil revenue during the legal dispute between First Bank and General Hydrocarbons Limited. The Supreme Court has ruled that First Bank failed to fulfil its obligations under its Memorandum of Understanding (MoU) with General Hydrocarbons Limited (GHL), while ordering the immediate...