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Business - Page 55

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

Business·Oil & Gas

NUPRC Opens Up On Failure Of Oil Producers To Supply Crude To Dangote Refinery

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) addressed the ongoing controversy between oil producers and the Dangote Refinery over crude oil supply, highlighting regulatory challenges, and the broader implications for Nigeria’s energy sector. The Commission shared its challenges in trying to mandate

July 4, 2025

Business·Top Stories

Oba Otudeko’s Investment In First Bank Parent Company Drops By N6.82bn

The value of investment held by Oba Otudeko in First HoldCo, the parent company of First Bank, has dropped by N6.82 billion within the first half (H1) of 2025, according to Prime Business Africa’s analysis. Otudeko, who was First HoldCo’s chairman before

July 4, 2025

Business·Top Stories

Champion Brew Tops Gainers’ List, Ellah Lakes Lead Losers

The equity capitalisation of the stock market declined by N244.02 billion to N76.33 trillion on Friday, July 4, from N76.58 trillion recorded on July 3. Although the all-share index (ASI) expanded slightly by 12.46 basis points, from 120,977.2 ASI to 120,989.66 ASI.

July 4, 2025

Business·Top Stories

Sunu Assurances’ Revenue Rises To N5.28bn – But Profit Drops By 69%

Sunu Assurances’ revenue jumped 34.66 percent to N5.28 billion in the first quarter (Q1) of 2025, surpassing the N3.92 billion generated in the corresponding period in 2024. The company’s financial statement for Q1 2025 also showed that Sunu Assurances’ insurance service expenses

July 4, 2025

Business·Currency·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 4th July 2025

What is the dollar-to-naira exchange rate on the black market, like the Aboki Fx? The exchange rate for the US dollar (USD) to Nigerian naira (NGN) in the parallel market, also known as black market, as of 4th July 2025, is N1,570

July 4, 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

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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 55

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

NUPRC Opens Up On Failure Of Oil Producers To Supply Crude To Dangote Refinery

Oba Otudeko’s Investment In First Bank Parent Company Drops By N6.82bn

Champion Brew Tops Gainers’ List, Ellah Lakes Lead Losers

Sunu Assurances’ Revenue Rises To N5.28bn – But Profit Drops By 69%

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 4th July 2025

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%

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

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

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

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Business - Page 55

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