Business

Hans Essaadi, managing director and chief executive officer (CEO) of Nigerian Breweries Plc, says insecurity, especially the sit-at-home declared in the south-east by the proscribed Indigenous People of Biafra (IPOB), had a negative effect on the company’s 2022 performance. Essaadi said the organisation’s operations were also affected by the recent...

Femi Otedola, chairman of Geregu Power, has exited his 6.3 percent stake in Transnational Corporation Plc (Transcorp), a diversified conglomerate with investments in the power, hospitality and energy sectors. According to BusinessDay, sources in the know of the development said Otedola sold his shares to Tony Elumelu, group chairman of...

Vice President Yemi Osinbajo says Nigeria, as a nation, needs to  consider investments in Green Hydrogen in view of energy transition. Osinbajo made the call while unveiling a book titled “Understanding Natural Gas: A Nigerian Perspective” on Thursday in Abuja. The Vice President urged the Nigeria National Petroleum Company Limited...

A Division of the High Court of Justice of Kogi State sitting in Lokoja, the state capital, has restrained the Federal Government from it’s planned concession of the Ajaokuta Steel Company Limited (ASCL) and the National Iron Ore Mining Company (NIOMCO) at Itakpe. Both companies are located in Kogi State....

The Delta state government on Wednesday received operational license presented by the federal government to commence operations at the Delta Special Economic Zone (DSEZ). At a well attended ceremony in Abuja, the managing Director of the Nigeria Export Processing Zones Authority (NEPZA) Prof. Adesoji Adesugba who presented the license to...

The Central Bank of Nigeria (CBN) has assured Nigerians of safety of their money in banks through operation of the e-naira. taken its e-Naria digital currency policy sensitisation to  community comprising students, teaching and non teaching staff. Mr Chika Ugwueze,  Assistant Director Payments System Management Department, CBN, Abuja, disclosed this...

The Debt Management Office (DMO) says Nigeria’s indebtedness to the World Bank, which grew from 6.29 billion dollars in 2015 to 13.46 billion dollars in 2022 is a positive development. According to a statement by the DMO in Abuja on Wednesday, this is contrary to media reports about the nature...

A World Bank report has revealed that the Nigerian Diaspora community remitted $168.33 billion to the country in the past eight years. The remittance was made even as the foreign investments inflow into the country remained unstable during those years caused by a scarcity of foreign currency which has since...

The AKK project spans 614 kilometres with a 15km Abuja terminal gas station, four gas stations, 22 block valve stations, pigging stations among others. Through this facility, NNPC will transport 2 billion Standard Cubic Feet (scuf) of natural gas per day to three power plants in Abuja, Kaduna, Kano with...

itel, Africa’s 15th Most Admired Brand 2022 and one of Africa’s notable mobile phone brands, has announced the itel P40 as the newest mega battery addition to its flagship power smartphones series. itel understands that smartphones are becoming increasingly indispensable to consumers, and this has led to the birth of...