February 14, 2025
Home Archive by category Business

Business

Business
By Emmanuel Kwada In a concerning trend that has left many Nigerians reeling, tariffs across various sectors have seen significant increases, exacerbating the financial strain on households and businesses alike. Citizens are awakening to a harsh reality as a series of tariff increases hit essential services, from telecommunications to banking and importation. The latest Continue Reading
Banking Business
By Emmanuel Kwada The Nigerian economy has witnessed a significant surge in Point of Sales (PoS) transactions in 2024, with the total value of transactions reaching an all-time high of N18 trillion. This represents a 69% increase compared to the N10.7 trillion recorded in 2023. The data, obtained from the Nigeria Inter-Bank Settlement System (NIBSS), […]Continue Reading
Arts Business Fact Check Features Investigations Media News Opinions Top Story
Theophilus Abbah President Bola Ahmed Tinubu’s New Year message to Nigerians on January 1, 2025, was the most optimistic of his speeches since he became president 19 months ago. In the speech, he acknowledged hardship in the country as a result of his so-called reforms. Tinubu highlighted positive economic trends, like decreasing fuel prices, trade […]Continue Reading
Business
By Emmanuel Kwada In a significant move, Swiss cement and building materials manufacturer Holcim has announced its exit from Nigeria after 65 years of operation. The company has signed an agreement to sell its 83.8% stake in Lafarge Africa Plc to China’s Huaxin Cement for $1 billion. Holcim’s decision to exit Nigeria is driven by […]Continue Reading
Business Top Story
By Emmanuel Kwada The Dangote Group has dismissed a statement attributed to the Nigerian National Petroleum Company Limited (NNPCL) spokesperson, Olufemi Soneye, claiming that the company sells Premium Motor Spirit (PMS) to NNPCL at N898 per litre. In a press statement released on September 15, 2024, Dangote Group’s Chief Branding and Communications Officer, Anthony Continue Reading
Business Top Story
By Emmanuel Kwada The Nigerian National Petroleum Company Limited (NNPCL) has commenced loading of Premium Motor Spirit (PMS) at the Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, marking a significant milestone in Nigeria’s quest for self-sufficiency in petroleum production. According to a statement released by NNPCL on Saturday, over 100 trucks were mobilized to Continue Reading
Business Top Story
By Abiodun Alade Nigeria, rich in resources and with a burgeoning young population, remains paradoxically stagnant due to its over-reliance on imports. This dependency, rather than being a temporary measure, has entrenched itself as a systemic barrier to long-term prosperity. With a population exceeding 200 million and a predominantly young demographic, Nigeria has become Continue Reading
Business Top Story
Key points: Dangote appreciates the Government’s “Naira for crude” and “Naira for product” initiatives, which enabled the project. The Dangote Refinery produces high-quality gasoline that meets international standards, reducing engine problems. The Refinery meets Nigeria’s gasoline demand and supplies sub-Saharan Africa. The Dangote Continue Reading
Interviews Business Top Story
Key Points: Motorists frustrated with ongoing fuel shortages, criticizing government for not restarting national refineries to address issue. Nigeria’s refineries remain inactive despite investments, causing reliance on imported fuel. Government promises to revive the Port Harcourt Refinery have been consistently broken. The refinery’s dormancy has severe Continue Reading