Business

•616 export containers abandoned  •Maersk shipping to evacuate 1,900 by tomorrow — APM Terminal The drive by the government to raise its non-oil revenue may have come under threat as no less than 4,817 containers fully loaded with export goods are currently trapped at the Lagos port. Out of this, 616 have been abandoned for over […]

Nestle Nigeria Plc has posted a 43.4 percent Year-on-Year (YoY) increase in its revenue for the first quarter ended March 31, 2024 (Q1’24). Specifically, the company grew its revenue to N183.5 billion in Q1’24 from N128 billion in the corresponding period in 2023, Q1’23. Highlights of the company’s Q1’24 financial statement filed at the Nigerian Exchange Limited (NGX) […]

Equity researchers have said that the stock market will continue on a positive trajectory this week after six weeks of consecutive negative performance was halted following repositioning by investors in anticipation of dividend declaration by corporates. They, however, said that the prospect of higher yields in the fixed income market could taper the expected rally. The […]

Many indigenous companies and International Oil Companies, IOCs, have indicated interest in bidding for the 12 onshore and seven deep offshore blocks put forward for sale by the Federal Government. Vanguard gathered yesterday that the companies have been reviewing the requirements, including technical competence and financial capacity, required by the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, to […]

Trade relations between Nigeria and the United Kingdom have reached £7bn, British High Commissioner to Nigeria Richard Montgomery said on Sunday. In an interview with the News Agency of Nigeria (NAN) in Abuja, Montgomery announced that the two nations have signed a new agreement on enhanced trade and investment partnership. The agreement aims to boost […]

A Ukrainian company, EDS, is making plans to invest in the energy sector to improve electricity supply in Nigeria. The Director of EDS, Zapyshynyi Olexandr, said the company was already mapping out strategies on how to go about the project. While noting that the project will combine solar, wind and hydro energies, he said it […]

The Chief Executive Officer of one of the leading cryptocurrency platforms in Nigeria, NoOnes, Ray Youssef, has revealed that peer-to-peer popularly known as P2P is probably like $500bn business in Nigeria alone. Youssef said this in an interview with Techpoint Africa on the heels of an imminent ban on cryptocurrency in the country. Speaking on […]

Changpeng Zhao, the founder and former chief executive of the Binance cryptocurrency exchange, has been sentenced to four months in jail after he pleaded guilty to a money-laundering violation. He was sentenced  in U.S District Court in Seattle, as all the efforts of his lawyers to put him on probation without any prison time crashed. […]