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Business - Page 56

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

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

Business·Currency·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 2nd 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 2nd July 2025, is N1,570

July 2, 2025

Business·Top Stories

Nigerian Stock Market Down By N150.24bn, PZ Cussons, Chams Among Losers

Shareholders of PZ Cussons, Chams, and others on the decliners table recorded N150.24 billion combined loss at the close of stock market trading on Tuesday, July 1. This contributed to the stock market capitalisation decreasing by 0.21 percet to N75.80 trillion, from

July 1, 2025

Business·Top Stories

Fidson Healthcare Loses 64% Of Revenue To Production Costs

In the first quarter (Q1) of 2025, Fidson Healthcare generated N35.01 billion in revenue, exceeding the N18.88 billion turnover generated between January and March 2024. The 85.41 percent increase in revenue was lower than the 100.23 percent growth in the cost of

July 1, 2025

Business·Top Stories

Zenith Bank’s Largest Shareholder Continues To Sell Off Shares, Takes Out N15.48m

Two weeks after reducing his controlling stake in Zenith Bank, Jim Ovia, the chairman of the lender, has sold more shares held in the financial institution. Ovia, who is Zenith Bank’s largest shareholder, sold 272,011 units of shares, valued at N15.48 million,

July 1, 2025

Business·Oil & Gas

Dangote Refinery Reduces Petrol Ex-depot Price To ₦840 Per Litre

Dangote Refinery has announced a reduction of its ex-gantry price of Premium Motor Spirit (PMS), also known as petrol to ₦840 per litre. This was confirmed in a statement released by Anthony Chiejina, Chief Corporate Communications Officer of Dangote Group, on Monday.

July 1, 2025

Previous 1 … 54 55 56 57 58 … 728 Next

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 56

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

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

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 2nd July 2025

Nigerian Stock Market Down By N150.24bn, PZ Cussons, Chams Among Losers

Fidson Healthcare Loses 64% Of Revenue To Production Costs

Zenith Bank’s Largest Shareholder Continues To Sell Off Shares, Takes Out N15.48m

Dangote Refinery Reduces Petrol Ex-depot Price To ₦840 Per Litre

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

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