July 22, 2025 Oando Plc has announced plans to raise up to N500 billion through the issuance of 10 billion new shares, as part of a strategic move to strengthen its capital base and support long-term expansion initiatives. In a corporate disclosure filed with the Nigerian Exchange Group (NGX), the energy giant stated that the
July 22, 2025 The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has publicly rejected the proposed fuel distribution plan by Dangote Refinery, warning that its implementation could jeopardize thousands of jobs within the downstream oil sector. Addressing journalists in Abuja, NOGASA President, Benneth Korie, stated that the association is strongly opposed to the
Bitcoin appears poised for another round of price correction as increased activity from large-scale holders—commonly referred to as “whales”—continues to stir uncertainty across the crypto market. Analysts monitoring blockchain transactions have reported a noticeable uptick in the volume of BTC being moved from private wallets to exchanges, a trend often interpreted as a precursor to
The 2025 Annual Meetings of the African Export-Import Bank (Afreximbank) have concluded on a high note, with investment commitments exceeding $1 billion sealed to support infrastructure, industrialization, and trade expansion across the African continent. The event, which gathered policymakers, business leaders, and financial institutions from within and beyond Africa, served as a major platform for
July 22, 2025 Nigeria and Egypt have reaffirmed their commitment to deepening bilateral cooperation as both nations work towards achieving a $500 billion intra-African trade target under the African Continental Free Trade Area (AfCFTA) by the year 2030. This renewed push for economic synergy was emphasized during the Nigeria-Egypt Business Forum 2025, held at the
July 22, 2025 Trade relations between Nigeria and Egypt have witnessed a notable upswing, with total bilateral trade volume reaching $315 million in 2024, according to Egypt’s Minister of Foreign Affairs, Sameh Shoukry. The announcement was made during his address at the Nigeria-Egypt Business Forum 2025, held at the Transcorp Hilton in Abuja, where government
July 21, 2025 Nigeria’s Gross Domestic Product (GDP) recorded a growth rate of 3.13% in the first quarter of 2025, according to the latest report by the National Bureau of Statistics (NBS). The performance reflects a moderate improvement in economic activities across various sectors, compared to the 2.98% growth rate posted in the corresponding quarter
In a significant boost to Nigeria’s power sector, the 1,250 megawatts (MW) independent power plant promoted by renowned businessman Dr. Deji Adeleke is now at an advanced stage of completion and is set for formal commissioning in the coming months. The energy project, which stands as one of the largest of its kind in the
ENUGU — In a move aimed at easing the financial burden on electricity consumers, the Enugu Electricity Distribution Company (EEDC) has announced a downward review of its tariff for Band A customers, reducing the rate to ₦160 per kilowatt-hour. The revised tariff is scheduled to take effect from Thursday, August 1, 2025. According to a
Butchers in Lagos have attributed the recent hike in the price of beef to severe flooding in parts of northern Nigeria and the accompanying disruptions in transportation routes. Speaking with newsmen on Tuesday, several meat traders across major Lagos abattoirs lamented that the cost of sourcing cattle has increased significantly, forcing them to raise beef
