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Business - Page 381

Dangote Cement's Revenue Soars, But Production Costs Rise 45% In Tandem

Dangote Cement Posts Strong Profit Growth Despite Flat Volumes

Dangote Cement Plc recorded a sharp increase in profit and earnings in the first nine months of 2025, despite largely flat sales volumes across its Nigerian and Pan-African operations, according to the company’s latest operating review, Prime Business Africa reports. The cement

December 22, 2025

Nigeria's Inflation Rate Hits 33.88% In October Amid Fresh Fuel Price Spike

Business·Finance & Economy·News

KPMG Predicts Nigeria’s Inflation To Soar At 30% By December 2023 Amidst Economic Reforms

Global financial advisory service firm, KPMG, has predicted that Nigeria’s headline inflation is poised to skyrocket to 30% by the end of 2023. The West African nation, already grappling with a headline inflation rate of 26.72% in September, is facing a challenging

November 12, 2023

Business·News·Oil & Gas

Dangote’s $19B Refinery Set To Meet Nigeria’s Energy Demands

Africa’s wealthiest individual, Aliko Dangote, has confirmed that the output from his $19 billion refinery complex is poised to soon meet the energy demands of Nigeria and global markets. Speaking with Bloomberg in Riyadh during the Saudi-Nigeria business roundtable, Dangote highlighted the

November 12, 2023

Business·News

Courts Admit More Evidence In N2.2bn Oil Subsidy Fraud Trial, Witnesses Testify

In a development in the trial of Mamman Nasir Ali, Christian Taylor, and Nasaman Oil Services Limited, who are facing charges related to an alleged N2.2 billion oil subsidy fraud, Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, admitted

November 12, 2023

Naira Ends Week With Marginal Gain Against Dollar

Business·Currency·News

Naira Rises To N780/$1 In Official Market, Depreciates In Black Market

Today’s financial landscape presents a tale of dual destinies for the Nigerian naira: a soaring achievement in the official market as it reaches a new high of N780 against the dollar, juxtaposed against a contrasting narrative of depreciation in the black market.

November 10, 2023

Business·News

NEITI Report Reveals Nigeria’s N14 Trillion Fiscal Transparency Concerns

The Nigeria Extractive Industries Transparency Initiative (NEITI) uncovered the influx of N14.38 trillion into the nation’s federation account between 2020 and 2021. Dr. Orji Ogbonnaya Orji, NEITI’s Executive Secretary, delivered this eye-opening report during the unveiling of the 2020-2021 NEITI Fiscal Allocation

November 10, 2023

Business·Finance & Economy·News

UBA, Saudi EXIM Bank Partner To Boost Trade, Business Relations

In a move aimed at bolstering economic ties between Africa and Saudi Arabia, the United Bank for Africa (UBA) Plc and Saudi Export-Import Bank (Saudi EXIM) have solidified a partnership. This collaborative effort, formalized through a Memorandum of Understanding (MoU) signed on

November 10, 2023

Blue Economy: Tinubu Appoints New Executive Directors For NPA, NIMASA

Business·Finance & Economy·News

Nigeria’s 2023 Budget Strain: FG To Spend N7.76tn On Salaries, Others

Nigeria’s Federal Government is grappling with financial commitments as the latest budget forecasts a portion of funds—N7.76tn—allocated to cover salaries, recurrent expenses, and new outlays outlined in the 2023 supplementary budget. This budget, necessitated by additional expenses like the agreed wage hike

November 10, 2023

Business·News

Your Investments Are Safe In Nigeria – Tinubu Assures Saudi Investors

President Bola Tinubu has offered assurances to potential investors, asserting that their investments are secure in Nigeria. Speaking at the Saudi-Africa Summit in Riyadh, Saudi Arabia, on Friday, President Tinubu emphasized Nigeria’s readiness for business and guaranteed investors some of the world’s

November 10, 2023

NGX stock market. Photo credit: TheCable

Business·Markets·News

Nigerian Equities Gain N27.2 Billion As ASI Appreciated By 0.07%

The NGX, equities on Thursday put on their dancing shoes as the All-Share Index hit a new high, up by 0.07% to 70,819.49 points. The market capitalized on the upbeat atmosphere, gaining N27.2 billion, pushing the market capitalization to N38.912 billion. With 25 stocks reveling in

November 9, 2023

Business·News

Guarantco Provides $25 million Counter-Guarantee To InfraCredit For Lagos Free Zone Company

GuarantCo, part of the Private Infrastructure Development Group (PIDG), has provided a NGN 20.23 billion (USD 25 million) counter-guarantee with a sixteen-year tenor to Infrastructure Credit Guarantee Company Limited (InfraCredit) in support of Lagos Free Zone Company’s (LFZC) three guaranteed infrastructure bond

November 9, 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 381

Dangote Cement Posts Strong Profit Growth Despite Flat Volumes

KPMG Predicts Nigeria’s Inflation To Soar At 30% By December 2023 Amidst Economic Reforms

Dangote’s $19B Refinery Set To Meet Nigeria’s Energy Demands

Courts Admit More Evidence In N2.2bn Oil Subsidy Fraud Trial, Witnesses Testify

Naira Rises To N780/$1 In Official Market, Depreciates In Black Market

NEITI Report Reveals Nigeria’s N14 Trillion Fiscal Transparency Concerns

UBA, Saudi EXIM Bank Partner To Boost Trade, Business Relations

Nigeria’s 2023 Budget Strain: FG To Spend N7.76tn On Salaries, Others

Your Investments Are Safe In Nigeria – Tinubu Assures Saudi Investors

Nigerian Equities Gain N27.2 Billion As ASI Appreciated By 0.07%

Guarantco Provides $25 million Counter-Guarantee To InfraCredit For Lagos Free Zone Company

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

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

SAFE IN NIGERIA: Boris Johnson’s Claim and the outrage

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Dangote Cement Posts Strong Profit Growth Despite Flat Volumes

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Dangote–Farouk Saga: Why Damning Claims Brought Down Oil Sector Giants

Dangote Explains Why Cement Costs More in Nigeria Than Abroad

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

Dollar Trades Flat In Black Market, Appreciates In Official Window

Venezuela Condemns Trump’s Threat, Pledges to Defend Sovereignty

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

Dangote Cement Posts Strong Profit Growth Despite Flat Volumes

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