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Business - Page 352

Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

The Federal Government of Nigeria has issued its debut bond under the Presidential Power Sector Debt Reduction Programme, raising N590 billion to settle verified arrears owed to power generation companies and gas suppliers. The bond, guaranteed by the full faith and credit

December 21, 2025

NGX stock market. Photo credit: TheCable

Business·Markets·News

Market Capitalization Rises To N39.65trn As ASI Increases To 72,455 Mark

In a display of strength, the Nigerian stock market experienced a surge today, with the NGX All-Share Index (ASI) breaking new ground and reaching an all-time high of 72,455.83. This upward momentum was fueled by an increase of 156.04 points, reflecting the

December 14, 2023

Business·News

Airtel Nigeria Unveils ‘5 Days of Love’ Feeding Program, Targets 6000 Beneficiaries Across 6 States

Airtel Nigeria has announced plans to elevate its annual community feeding initiative, '5 Days of Love,' reaching out to 6000 underprivileged Nigerians across six states.

December 14, 2023

OPEC Envisions Medium-Term Emergence Of Modular Refineries In Nigeria

Business·Oil & Gas

How Port Harcourt Refinery Forced Many Nigerians Out Of Business – IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said the non-functional state of the Port Harcourt Refinery in Rivers State has pushed many of people out of business by hampering the movement of persons, goods and services. The body disclosed this

December 14, 2023

Naira To Sustain Depreciation In 2024 - Analysis Reveals

Business·News

Cash Scarcity: CBN Blames Hoarding, Says N3.4trn In Circulation, Surpassing Pre-redesign Level

Amidst reports of cash scarcity in major Nigerian cities, the Central Bank of Nigeria (CBN) announced a surge in currency in circulation (CIC), reaching a record high of N3.4 trillion by December 11, 2023. This surge, marking a 13.71% increase from October

December 14, 2023

Business·News

Just In: Tinubu Sacks Kabir Mohammed As FAAN MD, Reshuffles Aviation Leadership

President Bola Tinubu has dismissed the Managing Director of the Federal Airports Authority of Nigeria (FAAN), Kabir Mohammed, and also reshuffled the leadership of other key agencies in the aviation sector. The removal of Kabir Yusuf Mohammed as Managing Director of the

December 13, 2023

How Strong Competitive Market Will Stabilise Fuel Price In Nigeria

Business·Oil & Gas

Petrol Should Sell N750/litre In Nigeria But For ‘Partial Return’ Of Subsidy – World Bank

The World Bank has revealed that premium motor spirit, otherwise known as petrol, should be priced in Nigeria at N750 per litre at the pumps unless the government is paying some form of subsidy on the product. The bank’s Lead Economist for

December 13, 2023

6 Factors Behind Poor Performance Of Nigeria’s Oil & Gas Stocks This Year

Business·Markets·News

ASI Crosses 72,000 Mark As Equities Gain N215 billion

The Nigerian Exchange Group (NGX) achieved an unprecedented milestone as its All-Share Index (ASI) soared past the 72,000 mark, closing at a record-high of 72,299.79 points on Wednesday. This surge reflected a gain of N215 billion in equities, propelling the market capitalization

December 13, 2023

World Bank Report Reveals 34% of Nigeria’s Education, Health Expenditures Lost Due To Absenteeism

Business·Finance & Economy·News

Nigeria To Accumulate N11trn By 2025 From Fuel Subsidy Removal- World Bank

In the latest Nigeria Development Update released by the World Bank, an optimistic forecast suggests Nigeria could accumulate over N11 trillion in savings by 2025 through the removal of fuel subsidies. However, challenges loom as anticipated revenue gains from the subsidy removal

December 13, 2023

Business·News

Polaris Bank Empowers MSMEs Through Fashion Souk

Polaris Bank, Nigeria’s digital retail bank, has reaffirmed its dedication to supporting Micro, Small, and Medium Enterprises (MSMEs) by taking a role as the headline sponsor of the Fashion Souk, a gathering celebrating fashion in Lagos. During the two-day event, Polaris Bank

December 13, 2023

Business·News·World News

TikTok’s Revenue Rises To $10bn In App Stores – Report

TikTok, the popular short video platform by Bytedance, has had its revenue earnings rise to the $10 billion milestone in consumer spending, marking an unprecedented achievement for a non-game application. Revealed in a report by app intelligence provider data.ai, the platform’s success

December 13, 2023

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Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

The Federal Government of Nigeria has issued its debut bond

Dollar Trades Flat In Black Market, Appreciates In Official Window

The dollar traded at N1,487.01/$1 in the parallel market on

Venezuela Condemns Trump’s Threat, Pledges to Defend Sovereignty

The government of Venezuela has condemned what it described as

Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

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Business - Page 352

Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

Market Capitalization Rises To N39.65trn As ASI Increases To 72,455 Mark

Airtel Nigeria Unveils ‘5 Days of Love’ Feeding Program, Targets 6000 Beneficiaries Across 6 States

How Port Harcourt Refinery Forced Many Nigerians Out Of Business – IPMAN

Cash Scarcity: CBN Blames Hoarding, Says N3.4trn In Circulation, Surpassing Pre-redesign Level

Just In: Tinubu Sacks Kabir Mohammed As FAAN MD, Reshuffles Aviation Leadership

Petrol Should Sell N750/litre In Nigeria But For ‘Partial Return’ Of Subsidy – World Bank

ASI Crosses 72,000 Mark As Equities Gain N215 billion

Nigeria To Accumulate N11trn By 2025 From Fuel Subsidy Removal- World Bank

Polaris Bank Empowers MSMEs Through Fashion Souk

TikTok’s Revenue Rises To $10bn In App Stores – Report

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