Business Archives - Page 9 of 50

Showmax To Shut Down After 11 Years As MultiChoice Moves To Restructure Streaming Business

NewsDeskNgMar 6, 2026March 6, 20260

Showmax announces plans to discontinue its streaming service after 11 years, despite major investments and a recent Canal+ takeover. Showmax, the streaming platform owned by MultiChoice, has announced plans to discontinue its service after more than a decade in operation, marking a significant shift in the company’s digital strategy despite...

Tinubu Brokers Settlement Of 15-Year OPL 245 Dispute

NewsDeskNgMar 5, 2026March 5, 20260

Settlement between Nigeria, ENI and Nigerian Agip Exploration Limited clears path for deepwater investment expected to boost oil output by 150,000 barrels. President Bola Tinubu on Thursday presided over the conclusion of a settlement agreement between the Federal Government, ENI and Nigerian Agip Exploration Limited (NAEL), resolving the long-running dispute over...

Dangote Refinery Pledges Supply Stability Amid Global Oil Market Disruptions

NewsDeskNgMar 5, 2026March 5, 20260

Dangote Refinery assures Nigerians of steady fuel supply despite global refinery shutdowns, rising crude prices and supply disruptions. Dangote Petroleum Refinery & Petrochemicals has reaffirmed its commitment to stabilising Nigeria’s energy supply amid growing volatility in the international oil market. The refinery said recent geopolitical tensions in the Middle East...

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...