Nigeria Business

Naira gains at official market as CBN moves to clear airlines’ forex backlog

Monday’s rate represents a 1.5 per cent appreciation from the N869.39/$1 rate the naira closed on Friday last week. Naira…

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Tinubu flags off independent power plant project in Abuja

President Bola Tinubu on Friday performed the groundbreaking ceremony of the first phase of the Nigerian National Petroleum Company Limited…

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FAAN suspends car hire services at Abuja airport

The Federal Airport Authority of Nigeria ( FAAN) on Thursday announced that it has suspended “car hire services” at the…

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Free zone authority attracts $15.97b investment commitment – Official

The Oil and Gas Free Zones Authority (OGFZA) on Wednesday said it attracted a total investment commitment of $15.97 billion…

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Nigeria electricity market operators set to review performance

The Nigerian electricity market operators on Tuesday announced plans to review the Nigerian Electricity Supply Industry (NESI) performance in the…

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Opay announces exit of CEO

The management of OPay Digital Services Limited (“OPay”), has announced that its President/Co-Chief Executive Officer, Olu Akanmu, would be leaving…

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Transcorp posts higher half-year profit on big boost in energy business

Nigeria’s largest conglomerate by market capitalisation, Transnational Corporation (Transcorp), reported a banner increase in revenue and net profit from January…

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Dangote Cement posts slight profit jump despite record sales as Nigeria’s forex revamp bites

Nigeria’s biggest manufacturer by market value reported a net loss of N113.6 billion on forex-denominated transactions January through June from…

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Nigerian Breweries plunges to record half-year loss amid forex reforms

The local subsidiary of Heineken Brouwerijen B.V relies on imports for almost half of its input costs, forcing it to…

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Nigerian govt restates determination to revive ALSCON

Vice President Shettima says the enormous benefits for the economy in many aspects, such as in the area of energy…

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