Economy - Page 10

Aliko Dangote has revealed plans to build a seaport and expand cement production in Ogun State. During a meeting with the Ogun State officials on Monday, Dangote told Governor Dapo Abiodun and the Executive Council that his company will construct what he

Chevron has bought about 4.99% of Hess Corp’s common shares this year. Chevron purchased 15,380,000 Hess shares between January and March, worth about $2.3 billion based on Hess’ closing share price of $150.45 on Monday. In a filing on Monday, the oil

Nigeria’s headline inflation rate dropped to 23.18% relative to the January 2025 headline inflation rate of 24.48%. This was disclosed by the Nigeria Bureau of Statistics (NBS) on Monday in its February 2025 consumer price index (CPI). According to NBS, the headline

A cross-section of business owners has identified high interest rates, insecurity, insufficient power supply, high taxes, financial difficulties, and excessive bank charges as the main constraints for February 2025, according to a CBN report. The report comes amid a drop in the

European and Asian stock markets started the week on the front foot on Monday as investors welcomed China’s plans to kick start consumption in the world’s number two economy amid US tariff fears. The gains followed a pre-weekend rally on Wall Street,

The Securities and Exchange Commission (SEC) has announced the suspension of Centurion Registrars Limited, along with its directors and sponsored individuals from the capital market. The suspension was announced by the commission in a statement titled “Additional Enforcement Measures on Erring Capital

At the Extraordinary General Meeting (EGM) held on Thursday, March 13, 2025, at the Transcorp Hilton in Abuja, the Board of PZ Cussons Nigeria Plc proposed the following resolution to the shareholders as a special resolution: To convert US$34.26 million (equivalent to

Gold rose above $3,000 for the first time Friday as President Donald Trump’s trade wars boosted demand for safe-haven assets, while stock markets bounced on signs US lawmakers would avert a government shutdown. Major US indices opened higher and remained in positive

Oil prices steadied after the Organization of the Production Export Countries released its monthly report, with Brent crude maintaining its earlier gains, trading above $70 a barrel on Thursday. OPEC said on Wednesday that Kazakhstan led a sizeable jump in February crude

Seplat Energy Plc has launched a $650m senior note offering due in 2030. A statement filed at the Nigerian Stock Exchange (NSE) on Tuesday, said the net proceeds of the offering will be used to repurchase Issuer’s outstanding 7.750%  Senior Notes due

Former Executive Director of Operations at the Securities and Exchange Commission (SEC), Dayo Obisan, has been appointed as a board member at Canary Point Holdings. Obisan is joined by Iyinoluwa Aboyeji, co-founder of Andela and Flutterwave, who brings significant experience in fintech

Following a motion of urgent public importance, the House of Representatives has passed a resolution calling for the suspension of the increase in Automated Teller Machine (ATM) transaction charges and the stoppage of free ATM withdrawals for customers from other banks in

Oil marketers under the auspices of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) have urged the Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to protect industry players against the

The latest data by the National Bureau of Statistics (NBS) on the foreign trade statistics said the increase was from N7.51 trillion recorded in 2023. The development comes despite current increasing domestic refining capacity, especially at the 650,000 barrels-per-day Dangote Refinery and