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Business - Page 64

FG, IMF in Talks to Develop Transparent Fuel Price Framework, Strengthen Fiscal Resilience

The Federal Government of Nigeria has begun formal discussions with the International Monetary Fund (IMF) to develop a transparent fuel price modulation framework and strengthen the country’s fiscal resilience amid global energy market volatility. The initiative, spearheaded by the Ministry of Petroleum

November 5, 2025

Business

Savannah Energy Revenue Rises 19% To $73.3m In Q1

Savannah Energy has released its unaudited financial results for the first quarter (Q1) 2025. The results showed a strong financial performance, with the company’s total revenue rising by 19% to $73.3 million from $61.4 million in Q1 2024. A statement from the

May 20, 2025

Business·Top Stories

Nestle, Tantalizers, Others Add N20.5bn To Stock Market Cap

On Tuesday, May 20, the Nigerian stock market recovered from losses recorded on Monday, May 19, following gains in Nestle, Tantalizer, and others. The companies on the gainers’ list added N20.50 billion to the stock market capitalisation, which increased from N68.94 trillion

May 20, 2025

Business·News·Oil & Gas

Dangote Pledges PMS Price Stability Despite Global Crude Oil Price Fluctuations

Dangote Refinery has pledged its commitment to ensuring stability in the price of Premium Motor Spirit (PMS), also known as petrol, in Nigeria despite fluctuations in prices of crude oil in the international market. In a statement released on Monday, signed by

May 20, 2025

Business·Top Stories

CBN retains interest rate at 27.5%

The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has retained the monetary policy rate (MPR) at 27.50 percent. Olayemi Cardoso, the governor of the CBN, announced the MPC’s decision at a press conference on Tuesday after the panel’s 300th

May 20, 2025

Business·Top Stories

Wema Bank Performs Poorly In Q1 As Revenue Drops 41%, Profit Declines 72%

Wema Bank’s revenue fell by 41.79 per cent to N81.27 billion in the first quarter (Q1) of 2025, failing to surpass the N139.62 billion generated in the corresponding period in 2024. The lender’s topline was negatively impacted by a 37.07 per cent

May 20, 2025

Business·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 20th May 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 20th May 2025, is N1,625

May 20, 2025

Business·FEATURES·Finance & Economy

Inflation: Concerns About CBN’s Monetary Policy Impact As 91% Of Naira Outside Banks

As the Central Bank of Nigeria (CBN) holds its 300th Monetary Policy Committee (MPC) meeting on Monday, May 19 and Tuesday, 20 2025, to decide the next step in addressing the challenges in the economy from the monetary side, there are concerns

May 19, 2025

Business·Top Stories

Tantalizer Tops Gainers, TIP Leads Losers As Stock Market Cap Drops N7.89bn

Over N7.89 billion was lost in the stock market on Monday, May 19, as the equity capitalisation fell marginally from N68.95 trillion to N68.94 trillion. Also, the all-share index (ASI) decreased to 109,697.83 ASI from 109,710.37 ASI, reflecting a loss of 12.54

May 19, 2025

Business·Top Stories

Mike Adenuga’s Investment In Sterling Bank’s Parent Company Drops By N615m

The investment of Mike Adenuga, the founder of Globacom, in Sterling Financial Holdings Company Plc, parent company of Sterling Bank, dropped in the first quarter (Q1) of 2025, according to analysis by Prime Business Africa. Adenuga, who is a substantial shareholder in

May 19, 2025

Business·Top Stories

Airtel Nigeria’s Voice Revenue Contribution Drops, Data Accounts For 45% Of Turnover

Airtel Nigeria recorded a 15.5 percent growth in its revenue after generating $307 million in the first quarter (Q1) of 2025, compared to the $266 million turnover reported for the same period in 2024. According to the financial statements for the period

May 19, 2025

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Business - Page 64

FG, IMF in Talks to Develop Transparent Fuel Price Framework, Strengthen Fiscal Resilience

Savannah Energy Revenue Rises 19% To $73.3m In Q1

Nestle, Tantalizers, Others Add N20.5bn To Stock Market Cap

Dangote Pledges PMS Price Stability Despite Global Crude Oil Price Fluctuations

CBN retains interest rate at 27.5%

Wema Bank Performs Poorly In Q1 As Revenue Drops 41%, Profit Declines 72%

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 20th May 2025

Inflation: Concerns About CBN’s Monetary Policy Impact As 91% Of Naira Outside Banks

Tantalizer Tops Gainers, TIP Leads Losers As Stock Market Cap Drops N7.89bn

Mike Adenuga’s Investment In Sterling Bank’s Parent Company Drops By N615m

Airtel Nigeria’s Voice Revenue Contribution Drops, Data Accounts For 45% Of Turnover

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