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Business - Page 367

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

Business·News

Nigerians Spend Over N2 Trillion On Airtime, Data In 9 Months, Reflecting Surging Internet Use

In the first nine months of 2023, Nigerian telecom subscribers’ expenditure on airtime and data skyrocketed to N2.59 trillion, as disclosed by financial statements from major telcos MTN Nigeria and Airtel Africa. This colossal 32.57% surge from the previous year’s N1.95 trillion expenditure

November 28, 2023

Africa·Business·News·Technology

AfDB Partners U.S. Commercial Service To Fuel Digital Revolution In Africa

U.S. Commercial Service and the African Development Bank have cemented a partnership aimed at revolutionizing digital innovation across the African continent. “This is a pivotal moment for Africa’s technological evolution,” remarked Ashley Ndir, senior U.S. Commercial Liaison to the African Development Bank during

November 28, 2023

Dangote Refinery Boosts U.S. Jet Fuel Supply As Demand Rises

Business·News·Oil & Gas

NNPCL Boosts Dangote Refinery With Fourth Delivery Of 1m Barrels Crude Oil

In a move propelling Nigeria’s refining landscape, the Nigeria National Petroleum Corporation Limited (NNPCL) has continued its stride by delivering an additional one million barrels of crude oil to the Dangote Refinery. This marks the fourth consecutive delivery in a series set

November 28, 2023

Business·News

Ogun Govt Disburses N112 Billion In Pensions, Gratuities; Appoints 4 Permanent Secretaries

In a declaration during the swearing-in ceremony of four new Permanent Secretaries in Ogun State, Governor Dapo Abiodun announced the allocation of over N112 billion toward pensions and gratuities for retired civil servants. Emphasizing his administration’s unwavering commitment to worker welfare, the

November 28, 2023

Nigeria's Stock Market Rises As Investors Target Undervalued Shares

Business·Markets·News

Banking Sector Soars Despite N132B Market Cap Dip: First Bank Surges 10%

Despite a dip in market capitalization by N132 billion, today’s trading session witnessed a 0.17% rise in the All-Share Index, closing at 71,353.81 points. The positive sentiment primarily stemmed from robust performances in the banking sector, notably with FBN Holdings (FBNH) seizing

November 28, 2023

Nigerian Naira Vs U.S. Dollar: What To Expect This Week (17th-22nd, March 2025)

Business·Currency·News

Naira Slumps To N1130/$1 Despite Prior Gains; CBN’s Measures In Focus

In a turn of events, the Nigerian naira faced a downward spiral against the US dollar, hitting an intraday high of N1130/$1 at the official market, signaling a concerning trend for the local currency. Despite this decline, the naira closed on par

November 28, 2023

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

Business·Finance & Economy·News

Persisting Forex Crisis Threatens Nigeria’s $1trn Economy Ambition

Analysis by Prime Business Africa has shed light on Nigeria’s struggle to achieve its $1 trillion economy goal amidst the forex exchange market turmoil and the naira’s persistent weakness. The devaluation of the naira has resulted in $193 billion loss in the

November 27, 2023

Business·News·Oil & Gas

Tinubu Reappoints Kyari As NNPCL CEO, Appoints New Board Members

President Bola Tinubu reappoints Mallam Mele Kolo Kyari as the CEO of the Nigerian National Petroleum Company Limited (NNPCL), and as announced the appointment of new board members. This decision, alongside the formation of a new board and management team, underscores a

November 27, 2023

Agro-Economy·Business·News

Lagos State Commissioner Urges Youth Participation In Agriculture

Lagos State Commissioner of Agriculture, Ms. Abisola Olusanya Advocates Youth Involvement in Farming as Crucial for Economic Growth and Development. The call for increased youth engagement in agriculture resonated strongly at the Salespush Academy seminar titled “Unleashed Potential: Harnessing Opportunities in Agriculture,

November 27, 2023

Nigeria’s Pension Fund Assets Surge To N17.658trn In October 2023

Business·News

Pension Fund Administrators Allocate N130.18bn To Infrastructure Investment

Pension Fund Administrators (PFAs) have allocated a sum of N130.18 billion from funds under the Contributory Pension Scheme (CPS) towards infrastructure investments by the end of September 2023. This was disclosed in the unaudited report on the pension funds industry portfolio

November 27, 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 367

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

Nigerians Spend Over N2 Trillion On Airtime, Data In 9 Months, Reflecting Surging Internet Use

AfDB Partners U.S. Commercial Service To Fuel Digital Revolution In Africa

NNPCL Boosts Dangote Refinery With Fourth Delivery Of 1m Barrels Crude Oil

Ogun Govt Disburses N112 Billion In Pensions, Gratuities; Appoints 4 Permanent Secretaries

Banking Sector Soars Despite N132B Market Cap Dip: First Bank Surges 10%

Naira Slumps To N1130/$1 Despite Prior Gains; CBN’s Measures In Focus

Persisting Forex Crisis Threatens Nigeria’s $1trn Economy Ambition

Tinubu Reappoints Kyari As NNPCL CEO, Appoints New Board Members

Lagos State Commissioner Urges Youth Participation In Agriculture

Pension Fund Administrators Allocate N130.18bn To Infrastructure Investment

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