Business Archives - Page 4 of 57

EIU: Dangote Refinery Boosting Nigeria’s GDP Growth, FX Earnings

NewsDeskNgMay 27, 2026May 27, 20260

Economist Intelligence Unit says Dangote Refinery is reducing fuel imports, boosting Nigeria’s GDP growth and foreign exchange earnings. The Economist Intelligence Unit (EIU) has said the operational ramp-up of the 650,000 barrels-per-day Dangote Petroleum Refinery & Petrochemicals is fundamentally transforming Nigeria’s downstream oil sector, significantly reducing the country’s dependence on...

Bayelsa Enters Commercial Aviation As Diri Boards Pioneer Airlines’ Inaugural Flight As First Passenger

NewsDeskNgMay 25, 2026May 25, 20260

Bayelsa State on Monday formally entered Nigeria’s commercial aviation sector as Governor Douye Diri boarded the inaugural operational flight of Pioneer Airlines, becoming the airline’s symbolic “Passenger 1A.” The non-scheduled Bayelsa State on Monday formally entered Nigeria’s commercial aviation sector as Governor Douye Diri boarded the inaugural operational flight of...

$5bn NLNG Train 7 Nears Completion As Nigeria Deepens Local Content

NewsDeskNgMay 23, 2026May 23, 20260

NLNG Train 7 has reached 92% completion as Nigerian oil firms, jobs and local manufacturing capacity expanded significantly. The $5 billion Nigeria Liquefied Natural Gas (NLNG) Train 7 project has reached 92 per cent completion and is now advancing into systems completion and pre-commissioning, marking a major milestone for Nigeria’s...

ExxonMobil Pushes Forward With $8bn Owowo Deepwater Project In Nigeria

NewsDeskNgMay 23, 2026May 23, 20260

ExxonMobil moves toward final investment decision on Owowo project as Nigeria deepwater oil ambitions gain momentum. American oil and gas giant, ExxonMobil has said the Final Investment Decision (FID) on its Owowo deepwater projects in Nigeria with an estimated cost of between $7 billion to $8 billion could be reached...

SINOTRUK Expands Nigerian Footprint with New Vehicles, Training Centres and Spare Parts Hubs

NewsDeskNgMay 23, 2026May 23, 20260

Abuja — China’s SINOTRUK, officially China National Heavy Duty Truck Group Co., Ltd, has deepened its presence in Nigeria with the launch of a new range of heavy-duty vehicles in Abuja, alongside technical training centres and spare parts distribution hubs aimed at improving after-sales support nationwide. The event in Abuja...

Transcorp Hilton remains top destination for guests, says GM

NewsDeskNgMay 22, 2026May 22, 20260

The General Manager of Transcorp Hilton Abuja, Martin Zarybnicky, has reaffirmed the hotel’s position as a leading destination for conferences, meetings, events, and leisure stays in Nigeria. Zarybnicky stated this during the 2027 Press Week Lecture and Awards Ceremony organised by the Nigeria Union of Journalists FCT Council in Abuja....

Report Projects $22bn GDP Boost From Wider AI Adoption In Nigeria By 2035

NewsDeskNgMay 22, 2026May 22, 20260

New report says artificial intelligence could add $22 billion to Nigeria’s economy as Meta expands digital investments. A new report has revealed that broader adoption of Artificial Intelligence (AI) could add about $22 billion to the country’s Gross Domestic Product (GDP) by 2035. The report, “Nigeria’s Digital Economy: Unlocking Growth...

Microsoft Eyes Major AI Infrastructure Breakthrough With Anthropic Chip Supply Talks

NewsDeskNgMay 22, 2026May 22, 20260

Microsoft is negotiating to supply Anthropic with Maia AI chips as demand for advanced computing infrastructure surges globally. Microsoft is in discussions to supply its custom-built artificial intelligence chips to AI startup Anthropic, in a move that could strengthen the tech giant’s position in the increasingly competitive AI infrastructure market....

Dangote Jet Fuel Exports Expand Beyond UK To Netherlands, France, Spain, Italy

NewsDeskNgMay 21, 2026May 21, 20260

Dangote Refinery’s jet fuel exports are expanding beyond UK to Morocco, France, Spain, Italy, Netherlands; amid tightening global aviation fuel supply disruptions. Fresh shipment data presented by S&P Global Energy has shown that Dangote Refinery is rapidly expanding its jet fuel exports across Europe, with cargoes now heading to the...

Tony Elumelu Set For Seplat Energy Board Seat As Shareholders Meet May 20

NewsDeskNgMay 19, 2026May 19, 20260

Chairman of UBA Tony Elumelu set for Seplat board election as shareholders meet May 20 following Heirs Energies’ major stake acquisition. Multi-billionaire entrepreneur and Chairman of United Bank for Africa (UBA) Plc, Mr. Tony Elumelu, is expected to be formally elected to the board of Seplat Energy Plc as a...