Access Holdings Plc (“Access Holdings” or “the Group”) on Tuesday, June 2, 2024, held a formal signing ceremony as part of the arrangements to raise a total of N351,009,103,017.25 by way of a Rights Issue (“the Offer”) to existing shareholders. The offer is part of the Group’s strategy to enhance its working capital […]
The President and Chief Executive Officer of the Dangote Group, Aliko Dangote, yesterday faulted the hike of interest rate to almost 30 per cent by the Central Bank of Nigeria (CBN). He spoke at the Banquet Hall of the Presidential Villa in Abuja at the commencement of a three-day summit organised by the Manufacturers Association […]
The Federal Government is set to commence the disbursement of N150 billion soft loans to micro, small and medium enterprises (MSMEs) and manufacturers by the end of July. Minister of Industry, Trade and Investment, Doris Uzoka-Anite, disclosed this in a statement through her official X handle. Uzoka-Anite said that 60 percent of the proposed one million […]
Ahead of Dangote Refinery’s commencement of Premium Motor Spirit, known as petrol, supply in the Nigerian market, marketers and energy experts in Nigeria’s oil and gas industry have ruled out expectations that it will lead to a price crash. This comes as the Chairman of the Lagos-based Refinery, Aliko Dangote recently shifted the date to […]
Aarti steel Nigeria Limited has closed shop, down and out. Aarti Steel having been into roofing sheet market for so many years with considerable market foot prints is finally saying good bye to Nigeria. The Ota in Ogun state based steel plant has not been operating smoothly for almost a year with intermittent production which […]
The FBN Holdings has further consolidated its top-tier ranking with strong performance in the 2023 financial year and the first quarter of 2024, Q1’24, reporting significant growth in gross earnings and pre-tax profit The group recorded N1.6 trillion in gross earnings, about 95.7 percent above the 2022 figure while the profit before tax rose 126.86 […]
The Federal Government’s deficit spending rose by 8.0 percent, year-on-year (YoY) to N1.07 trillion in January 2024 from N980 billion in January 2023. The deficit spending in January was also 18.6 per cent higher than the amount provided for in the 2024 approved budget. The Central Bank of Nigeria, CBN, disclosed this in its monthly Economic Report […]
The Nigeria Extractive Industries Transparency Initiative, NEITI, has solicited the support of stakeholders to deepen the ongoing reforms in Nigeria’s oil and gas industry and the solid minerals sector. The Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji who made the appeal at the stakeholders validation workshop on the 2023 annual progress report in Nigeria’s extractive […]
The average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (LPG), commonly known as cooking gas rose by 70.12 per cent, Year-on-Year, YoY to N7,418.45 in May 2024 from N4,360.69 in May 2023. The National Bureau of Statistics (NBS) disclosed this in its Liquified Petroleum Gas (Cooking Gas) Price Watch for May 2024. […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the extension of the deadline for the registration and submission of pre-qualification documents for the 2024 oil block licensing round. NUPRC chief executive, Gbenga Komolafe announced the extension in a statement. Komolafe said the registration and submission of pre-qualification documents, initially scheduled to close on June […]