Business News Report

FG team visits Ogoni, tours oil facility sites preparatory to resumption of oil production

As part of the confidence-building measures agreed upon between the Ogoni people and the Federal Government aimed at facilitating negotiations for resumption of oil exploration in...

President Tinubu signs Nigerian insurance industry reform bill 2025 to drive financial sector transformation

President Bola Ahmed Tinubu has assented to the Nigerian Insurance Industry Reform Bill, 2025, a landmark legislation to strengthen Nigeria’s financial sector and accelerate the nation’s...

Nigeria seizes 1,600 birds at Lagos airport bound for Kuwait

Customs officials at Nigeria’s Lagos international airport said they had seized more than 1,600 parrots and canaries that were being transported to Kuwait without a permit,...

Gombe adopts new electricity act for energy autonomy The Gombe government says it has adopted the State Electricity Law 2024 to achieve self-sufficiency in power generation...

NGX Stock trading start on a Bullish note in first week of August, ASI up 2.0%

NGX stock trading began the week in the positive territory as buy interest in DANGCEM, BUAFOODS and BUACEMENT pushed the NGX-ASI up 2.0% to 144,074.23 points....

Oil falls as OPEC+ output hike adds to oversupply concerns, Nigeria’s July oil output tops 1.8m bpd

Oil prices fell to their lowest in a week on Monday after OPEC+ agreed to another large output increase in September, adding to oversupply concerns after...

Afreximbank signs $1.35bn financing as lead arranger in $4bn syndicated facility to refinance Dangote refinery construction

African Export-Import Bank (Afreximbank) has signed a $1.35 billion financing facility in favour of Dangote Industries Limited (DIL). The facility is part of a larger approximately...

Experts worry over untapped bamboo resources in Nigeria

Some experts on Monday expressed concerns about the untapped and underutilised potential of bamboo in Anambra and across the country.The experts expressed their displeasure at an...

Future GDP re-basing exercises should be conducted regularly, in a timely manner— CPPE

The Centre for the Promotion of Private Enterprise (CPPE) has urged the federal government to ensure that future Gross Domestic re-basing exercises be conducted more regularly...

NCDMB reiterates commitment to make Nigerian Local Content World’s best

Nigerian content development and monitoring board, NCDMB, said it is committed to ensuring that Nigeria produces the best local content in the global market especially in...

Nigeria expands Agro-Industrial footprint with new processing hub in Oyo State

Nigeria has launched a new Special Agro-Industrial Processing Zone (SAPZ) in Oyo State, marking a major milestone in the country’s efforts to boost agricultural transformation, job...

U.S. International DFC to highlight U.S. capital mobilisation for Africa at Houston energy forum

U.S. International Development Finance Corporation (DFC) is set to take the stage at the U.S.–Africa Energy Forum (USAEF) in Houston next month, with Director Selam Demissie...

Investors sue FCT Minister over revocation of plots at Abuja Free Trade Zone for non payment of ground rent

Investors under the aegis of Abuja Technology Village Free Trade Zone, have dragged the Federal Capital Territory FCT, minister, Nyesom Wike before the Federal High Court...

Build businesses to create employment, produce content that reflects unifying values Tinubu urges new media

President Bola Ahmed Tinubu has called on young Nigerians active in the digital media space to harness their platforms as instruments of national progress. He urged...

NGX equity investors gain N12.62trn in July 

Equity investors in the Nigerian stock market gained N12.62 trillion in July over monster rallies that persisted across the trading week. The Nigerian Exchange (NGX) All...