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Business - Page 363

Heirs Energies Agrees $750m Afreximbank Financing to Drive Long-Term Growth

Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has executed a USD 750 million financing with the African Export–Import Bank (Afreximbank). The transaction was concluded at a signing ceremony in Abuja on Saturday 20th December 2025, attended by Mr. Tony

December 21, 2025

Tinubu Never Promised To Reduce Dollar Rate To N200 – Lawmaker Says

Business·News

Nigerian Govt Allocates N135bn To States under NG-CARES: Nasarawa, Cross River, Zamfara Lead In Performance

In a move aimed at tackling multidimensional poverty, the Nigerian Federal Government has disbursed N135.4 billion to states and the FCT through the NG-CARES initiative. Dr. Abdulkarim Obaje, National Coordinator of NG-CARES, highlighted the impact of this funding allocation on the country’s

December 3, 2023

Africa·Business·News·World News

UAE Pledges $4.5 Billion To Fund Renewable Energy Projects Across Africa

Sultan Ahmed Al-Jaber, UAE’s special envoy on climate change, revealed the UAE’s commitment to a $4.5 billion fund aimed at advancing renewable energy initiatives across Africa. Al-Jaber emphasized during an interview with CNBC Africa at the COP28 summit, “The Africa fund, totaling

December 3, 2023

NGX stock market. Photo credit: TheCable

Business·Markets·News

Ikeja Hotel, Neimeth, Omatek Top Gainers As Nigerian Equities Market Gains N30bn

Investors in the Nigerian Equity Market revelled in a positive turn of events, reaping gains amounting to N30 billion by the close of Friday’s trading session. This bullish rally, defying recent market volatility, witnessed a rise in market capitalization from N39.052 trillion

December 2, 2023

Business·News·Oil & Gas

Port Harcourt Refinery Is Over 75% Completed, Says Managing Director

Amidst the flurry of refurbishment activities at the Port Harcourt refinery, Ibrahim Onoja, the Managing Director, disclosed that significant strides have been made, with over 75% of the project already completed. Onoja’s revelation, based on a report compiled by the Nigerian National

December 2, 2023

Business·News

Nigeria Germany Sign Agreement For Implementation Of Presidential Power Initiative

President Bola Tinubu and German Chancellor Olaf Scholz have signed an agreement aimed at expediting the implementation of the Presidential Power Initiative (PPI) to revolutionize Nigeria’s electricity supply. This was done at the global discussions on climate actions at the ongoing COP28

December 2, 2023

Business·Politics

‘This Is Strange! Tinubu Presented Empty Budget Boxes Without Documents’ – NASS Members Fume

A member of the House of Representatives, Yusuf Galambi has accused President Bola Tinubu of “deceitfully” presenting empty boxes supposedly containing the 2024 budget to the joint session of the National Assembly. The New Nigeria Peoples Party (NNPP) member representing Gwaram federal

December 1, 2023

Naira Falls To ₦1,530/$ At Official Market After Public Holiday

Business·Currency·News

Naira Drops By 11.39% To Hit N927/$1 In NAFEM, N1165/$1 In Parallel Market

The Nigerian Naira plunged to an unprecedented low on Friday, closing at N927.19/$1 in the official market and hitting N1165/$1 in the parallel market. Financial analysts expressed growing concerns as the domestic currency witnessed an 11.39% depreciation within a day, marking a loss

December 1, 2023

Business·News·World News

Elon Musk Tops List Of Billionaires As Bezos, Gates, Others Gain $115bn In November

In a whirlwind of market movements, November proved to be a fruitful month for some of the globe’s most affluent individuals. Elon Musk, Jeff Bezos, and Bill Gates, among others, witnessed an uptick in their stock portfolios, resulting in a combined increase of

December 1, 2023

Energy, Exchange Rate, Transportation Top Three Drivers Of Inflation In Nigeria - CBN Survey

Business·Politics

CBN To Freeze Accounts Without BVN, NIN In 2024

The Central Bank of Nigeria (CBN) has issued a directive to impose a “Post no Debit” restriction on all bank accounts lacking the Bank Verification Number (BVN) and National Identification Number (NIN) effective April 2024. The term “Post No Debit” refers to

December 1, 2023

Business·News

New Minimum Wage To Begin In April 2024, Says Information Minister

The Nigerian government has announced plans for a revised minimum wage set to take effect from April 1, 2024, amidst economic concerns and following the expiration of the temporary N35,000 wage. Idris Mohammed, the Minister of Information and National Orientation, disclosed this

December 1, 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 363

Heirs Energies Agrees $750m Afreximbank Financing to Drive Long-Term Growth

Nigerian Govt Allocates N135bn To States under NG-CARES: Nasarawa, Cross River, Zamfara Lead In Performance

UAE Pledges $4.5 Billion To Fund Renewable Energy Projects Across Africa

Ikeja Hotel, Neimeth, Omatek Top Gainers As Nigerian Equities Market Gains N30bn

Port Harcourt Refinery Is Over 75% Completed, Says Managing Director

Nigeria Germany Sign Agreement For Implementation Of Presidential Power Initiative

‘This Is Strange! Tinubu Presented Empty Budget Boxes Without Documents’ – NASS Members Fume

Naira Drops By 11.39% To Hit N927/$1 In NAFEM, N1165/$1 In Parallel Market

Elon Musk Tops List Of Billionaires As Bezos, Gates, Others Gain $115bn In November

CBN To Freeze Accounts Without BVN, NIN In 2024

New Minimum Wage To Begin In April 2024, Says Information Minister

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