Business
H1 2024: Nigeria’s Vehicle Imports Drops By 60% Due To Naira Volatility, High Customs Duties
The importation of vehicles into Nigeria dropped by 60 per cent in the first half of 2024, primarily due to high exchange rates...
H1 2024: Dangote Cement Reports 85% Pre-tax Profit, Struggles With +118% YoY Increase In Production Costs
Dangote Cement Plc has announced a pre-tax profit of N292.9 billion for the first half of 2024. This marks a 22 per cent...
Italian Eni To Sell Its Subsidiary, Agip Oil, To Wale Tinubu’s Oando
Italian oil giant Eni has received formal consent from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to sell its subsidiary, Nigerian Agip Oil...
CAC Issues 90-Day Deadline Before Delisting 1,018 Dormant Companies
The Corporate Affairs Commission (CAC) of Nigeria has announced a 90-day ultimatum for over 1,018 dormant companies to file their outstanding annual returns....
FG Launches ₦150,000 Grant for Jigawa Entrepreneurs As Protests Loom Nationwide
President Bola Tinubu has approved a ₦150,000 grant for each business owner in Jigawa State. Vice President Kashim Shettima announced this during the...
U.S. Fintech, Mercury Bank, Adds Nigeria To List Prohibited From Opening Accounts
Mercury Bank, a United States-based fintech popular among African tech founders, has recently added Nigeria to its list of prohibited countries. This move...
Microsoft IT Outage: CrowdStrike Says ‘Significant Number’ Of The 8.5 Million Affected Devices Are Now Working
CrowdStrike has reported that a significant number of the devices affected by Friday’s software update glitch are back online. The outage, which hit...
Dangote Refinery Not Yet Licensed, Still At 45% Pre-Commission Stage – NMDPRA
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said the Dangote Refinery is not yet licenced and is still at the...
Star Garments Group Invests $15 Million in Togo, To Create 4,520 Jobs By 2030
Star Garments Group, a global leader in sustainable apparel manufacturing, recently announced it is investing $15 million in a new plant in Togo....
Economic Hardship: TotalEnergies To Sell Nigeria Onshore Assets To Chappal Energies For $860M
TotalEnergies has entered into a definitive agreement to sell its onshore oil assets in Nigeria to indigenous firm Chappal Energies for $860 million,...
Elon Musk To Move SpaceX And X Headquarters To Texas Over California’s Trans Student Privacy Law
Elon Musk has announced that SpaceX and X (formerly Twitter) will relocate their headquarters from California to Texas. Musk cited California’s new student...
EU Accuses X Of ‘Misleading Users’ With Its Verification System, Others
Elon Musk’s X, formerly known as Twitter, has been accused by the European Commission of violating the Digital Services Act (DSA). The commission...