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Business - Page 80

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

Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has executed a USD 750 million financing with the African Export–Import Bank (Afreximbank). The transaction was concluded at a signing ceremony in Abuja on Saturday 20th December 2025, attended by Mr. Tony

December 21, 2025

Business·Currency

Naira Appreciates, Opens Week On Positive Note

The Nigerian naira appreciated at the foreign exchange market on Monday, opening the week on a positive note. The naira exchanged at N1,600.43 per dollar, on Monday, 12 May at the official market, according to the Nigeria Foreign Exchange Market (NFEM) rate

May 12, 2025

Business·Top Stories

Linkage Assurance, ETranzact Extend Stock Market Decline

Trading on Monday, May 12, ended with a N296.61 billion decline in Nigerian bourse’s market capitalisation, which fell to N68,04 trillion, from N68.33 trillion on Friday, May 9. The decline was driven by a 0.54 percent decline in the all-share index (ASI),

May 12, 2025

Business·Top Stories

Aliko Dangote’s Investment in Jaiz Bank Now N9.86bn After Acquiring More Shares

Aliko Dangote, an oil magnate and Africa’s richest person, has increased his shareholding in Jaiz Bank, a non-interest financial institution operating under Islamic banking principles in Nigeria. According to Jaiz Bank’s unaudited financial report for the period ended December 31, 2024, released

May 12, 2025

Business·Oil & Gas

Dangote Refinery Further Reduces Petrol Ex-depot Price To N825 Per Litre Amid Intense Competition

Dangote Petroleum Refinery has further reduced the ex-depot price of its Premium Motor Spirit (PMS), commonly known as petrol, from N835 to N825 per litre. This reflects a N10 reduction per litre. The new price, which takes immediate effect, comes as a

May 12, 2025

Business·Top Stories

N625bn Interest Income Fails To Save First HoldCo From 17% Decline In Profit

First HoldCo has released its financial statements for the first quarter (Q1) of 2025, disclosing that the company grew its interest income by 40.15 percent year-on-year from N446.14 billion to N625.28 billion. The company’s interest income grew faster than interest expense, which

May 12, 2025

Business·Currency·Markets

Naira Vs Dollar: What To Expect This Week (12th-16th, May 2025)

Unlike two weeks ago, when the Nigerian naira witnessed relative stability, it relapsed last week, recording a fluctuating trend. The local currency opened the week with a depreciation to ₦1,610 per dollar at the black market. Similarly, it recorded depreciation at the

May 12, 2025

Business

Nigeria First Policy: Authorities Must Address Local Production Challenges – LCCI

The Lagos Chamber of Commerce and Industry (LCCI), has stated that achieving the Nigeria first policy requires addressing challenges inhibiting local production in the country. The Federal Executive Council (FEC) had last week approved Nigeria first policy, which aims to empower local

May 12, 2025

Business·Currency·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 12th 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 12th May 2025, is N1,625

May 12, 2025

Business·News

Tax Reform Bills: Why Authorities Must Integrate Technology In Tax System– Expert

As Nigeria’s National Assembly harmonises the tax reform bills passed within the week, a tax expert has emphasised the need for authorities to introduce modern technology to ensure efficiency in collection and management. Wale Ajayi, Head of Tax, Africa at KPMG, stated

May 11, 2025

Business·Currency·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 10th May 2025

May 10, 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

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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 80

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

Naira Appreciates, Opens Week On Positive Note

Linkage Assurance, ETranzact Extend Stock Market Decline

Aliko Dangote’s Investment in Jaiz Bank Now N9.86bn After Acquiring More Shares

Dangote Refinery Further Reduces Petrol Ex-depot Price To N825 Per Litre Amid Intense Competition

N625bn Interest Income Fails To Save First HoldCo From 17% Decline In Profit

Naira Vs Dollar: What To Expect This Week (12th-16th, May 2025)

Nigeria First Policy: Authorities Must Address Local Production Challenges – LCCI

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 12th May 2025

Tax Reform Bills: Why Authorities Must Integrate Technology In Tax System– Expert

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 10th May 2025

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