Business Archives - Page 3 of 44

CBN Boosts Gold Reserves To $3.5bn As Senate Moves To Make Apex Bank Lead Fintech Regulator

NewsDeskNgMar 5, 2026March 5, 20260

CBN raises gold reserves to $3.5bn with domestically sourced bullion as Senate pushes fintech oversight and anti-Ponzi crackdown. The Central Bank of Nigeria (CBN) has bolstered its foreign reserves with the addition of responsibly sourced gold refined to London Bullion Market Association (LBMA) Good Delivery standards, bringing total gold holdings...

National Assembly Moves To Domesticate AfCFTA Agreement

NewsDeskNgMar 4, 2026March 4, 20260

The National Assembly has pledged legislative action to domesticate the AfCFTA Agreement for Nigeria’s economic gains. The leadership of the National Assembly on Tuesday pledged decisive legislative action and stronger oversight to ensure that Nigeria fully harnesses the benefits of the African Continental Free Trade Area (AfCFTA) Agreement. Speaking at...

Dangote Group Expands into Steel, Power, And Ports, Inducts 330 Engineers To Strengthen Local Industrial Talent

NewsDeskNgMar 3, 2026March 3, 20260

Dangote Group pledges investments in steel, electricity, and port infrastructure while onboarding 330 engineers to deepen local content. President of Dangote Group, Aliko Dangote, has unveiled plans to expand into steel production, electricity generation and port development as part of a broader ambition to accelerate industrialisation across Africa. This comes...

Executive Order 9: Direct Oil Revenue Remittance Guidelines Ready In Three Weeks

NewsDeskNgMar 3, 2026March 3, 20260

Implementation committee to issue transition framework for direct Federation Account remittances and review Petroleum Industry Act. In a bid to ensure the full implementation of Executive Order 9, recently signed by President Bola Tinubu, detailed guidelines for the transition to direct remittance of oil revenues into the Federation Account will...

Oando Reaffirms Commitment to Indigenous Upstream Growth After IPPG Leadership Visit

NewsDeskNgMar 3, 2026March 3, 20260

Oando pledges stronger collaboration and advocacy as indigenous producers consolidate leadership in Nigeria’s upstream oil sector. The Managing Director, Oando Energy Resources (OER), Ainojie Irune, has reaffirmed the company’s alignment with efforts to strengthen Nigeria’s indigenous upstream ecosystem following a strategic visit by the Chairman, Independent Petroleum Producers Group (IPPG)...

Dangote Refinery Hikes Petrol Ex-Depot Price To N874 Amid Crude Oil Surge

NewsDeskNgMar 3, 2026March 3, 20260

Dangote Refinery raises petrol gantry price by N100 as global crude volatility pushes replacement costs higher. The Dangote Petroleum Refinery has increased its Premium Motor Spirit (PMS) or petrol gantry price by N100, raising the ex-depot rate from N774 to N874 per litre, amid renewed volatility in global crude oil...

FAAN Announces Middle East Flight Disruptions After US–Israel Strikes On Iran

NewsDeskNgMar 1, 2026March 1, 20260

FAAN has confirmed cancellations and delays to Middle East routes as regional airspace closures disrupt operations. The Federal Airports Authority of Nigeria (FAAN) has announced flight disruptions to several Middle East destinations following airspace closures triggered by the United States–Israeli strikes on Iran. In a statement issued on Saturday via...

Wale Edun Hails 4.07% GDP Growth In Q4 2025

NewsDeskNgMar 1, 2026March 1, 20260

Finance minister Wale Edun has praised Nigeria’s 4.07% growth in Q4 2025. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has welcomed the latest data from the National Bureau of Statistics (NBS) showing that Nigeria’s real Gross Domestic Product (GDP) grew by 4.07per cent in the...

SunTrust Bank Surpasses ₦50bn Recapitalisation Target After Successful Private Placement

NewsDeskNgFeb 28, 2026February 28, 20260

SunTrust Bank’s paid-up capital climbed to about ₦51.1bn after private placement, beating the recapitalisation deadline. SunTrust Bank Nigeria Limited has exceeded the ₦50 billion recapitalisation benchmark following the successful completion of its private placement exercise. Industry sources indicate that the bank’s total paid-up capital has risen to approximately ₦51.1 billion,...

FG: First Gas From AKK Pipeline To Flow By July 2026

NewsDeskNgFeb 28, 2026February 28, 20260

Nigerian government says Ajaokuta-Gwagwalada segment of AKK pipeline will boost industrial growth, deepen CNG adoption and advance gas-first strategy. The federal government Thursday declared that the first gas from Ajaokuta-Gwagwalada segment of the $2.8 billion Ajaokuta–Kaduna–Kano (AKK) Pipeline Project will flow by July 2026, marking a structural turning point in...