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Business - Page 43

Arab Bank, DCO Agree on Framework for Cooperation on Inclusive, Sustainable Digital Economies

The Digital Cooperation Organization (DCO), the world’s first standalone international intergovernmental organization dedicated to accelerating inclusive and sustainable digital economies, and the Arab Bank for Economic Development in Africa (BADEA) Friday signed a Memorandum of Understanding (MoU) as part of an ongoing

November 1, 2025

Business·Top Stories

Why NRS Must Integrate NUPRC Audit System For Oil, Gas Sector Royalty Collection – Expert

Economist and Energy analyst, Mr Kelvin Emmanuel, has said the Nigeria Revenue Service (NRS) needs to be actively involved in the audit process by the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) for the collection of royalties in the country’s oil and gas

July 4, 2025

Business

AMCON Sells Ibadan DisCo For N100bn

Asset Management Corporation (AMCON) has announced the sale of Ibadan Electricity Distribution Company (IBEDC), for N100 billion. AMCON Managing Director, Gbenga Alake, who made this known on Thursday, explained that the N100 billion represents AMCON’s 60 per cent stake in the company.

July 4, 2025

Business·Top Stories

GTCO Shareholders Gain N93.87bn As Lender Reveals Plan To List On LSE

Shareholders of Guaranty Trust Holding Company (GTCO) gained N93.87 billion within five hours of trading on Thursday, July 3, after the company announced plans to list on the London Stock Exchange (LSE). Prior to the announcement, GTCO’s share value had been on

July 3, 2025

Business·Top Stories

Gains In Berger Paint, Guinea Insurance Shares Lift Stock Market By N234bn

The stock market closed trading with a N403.43 billion gain on Thursday, July 3, thanks to gains recorded by Berger Paint and Guinea Insurance. As a result, the market capitalisation appreciated from N76.17 trillion recorded on Wednesday, July 2, to N76.58 trillion.

July 3, 2025

Business·Top Stories

Costs Gulp 46% Of Neimeth’s Turnover As Expenses Rise By 296%

Over N1.20 billion was recorded as revenue by Neimeth International Pharmaceuticals Plc in the first quarter (Q1) of 2025, exceeding the N648.25 million turnover reported in Q1 2024, reflecting an increase of 86 percent. However, the cost of sales increased threefold or

July 3, 2025

Business

Nigerian Govt Incurs ₦536bn Electricity Subsidy In Q1 2025

The Nigerian government incurred ₦536.41 billion on electricity subsidies in the first quarter (Q1) of 2025. According to the latest quarterly report released by the Nigeria Electricity Regulatory Commission (NERC), this is 59.16 per cent of the total invoice issued by the

July 3, 2025

Business·Top Stories

Major Investor Khalifa Biobaku Reduces Investment In UAC Nigeria, Takes Out N4.62bn

One of the major shareholders of UAC Nigeria Plc, Khalifa Biobaku, has reduced his indirect stake in the company from 5.90 percent to 1.54 percent. According to an insider dealings report, Biobaku sold 127.49 million shares through his investment company, Dalio Property

July 2, 2025

Business·Top Stories

Over N378.98bn Added To Stock Market Cap, SMURFIT, Omatek Lead Gainers’ List

About N378.98 billion was added to the market capitalisation of the Nigerian stock market on Wednesday, July 2, with Smart Products Nigeria (SMURFIT) and Omatek driving the growth. According to data obtained from the Nigerian Group Limited (NGX), the equity capitalisation rose

July 2, 2025

Business·Top Stories

May and Baker Spends N6bn On Drug Production, Generates N9.50bn

May and Baker generated N9.50 billion revenue in the first quarter (Q1) of 2025, compared to the N6.42 billion recorded in Q1 2024, reflecting an increase of 48.02 percent. Also, the company’s cost of sales grew at a similar rate, rising by

July 2, 2025

Business·Finance & Economy

Concerns As Naira Depreciation Pushes Nigeria’s Debt To N149.39trn

Nigeria’s escalating public debt has triggered concerns about the economic and social impact. The public debt has surged to N149.39 trillion (approximately $97.24 billion) as of 31 March 2025, according to data released by the Debt Management Office (DMO). This marks a 22.8 per cent or N27.72 trillion

July 2, 2025

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Business - Page 43

Arab Bank, DCO Agree on Framework for Cooperation on Inclusive, Sustainable Digital Economies

Why NRS Must Integrate NUPRC Audit System For Oil, Gas Sector Royalty Collection – Expert

AMCON Sells Ibadan DisCo For N100bn

GTCO Shareholders Gain N93.87bn As Lender Reveals Plan To List On LSE

Gains In Berger Paint, Guinea Insurance Shares Lift Stock Market By N234bn

Costs Gulp 46% Of Neimeth’s Turnover As Expenses Rise By 296%

Nigerian Govt Incurs ₦536bn Electricity Subsidy In Q1 2025

Major Investor Khalifa Biobaku Reduces Investment In UAC Nigeria, Takes Out N4.62bn

Over N378.98bn Added To Stock Market Cap, SMURFIT, Omatek Lead Gainers’ List

May and Baker Spends N6bn On Drug Production, Generates N9.50bn

Concerns As Naira Depreciation Pushes Nigeria’s Debt To N149.39trn

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