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Sunday, May 22, 2022

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Shareholders Commend Orjiako As Seplat Energy Pledges Efficient Profitability

Seplat Energy Plc has pledged to its shareholders that it will use existing oil resources to develop the country's enormous gas reserves and accelerate the shift to cleaner, more efficient fuel for increased profitability. Furthermore, the shareholders praised the work...

Nigeria Capital Market Investors Lose N159.3 Billion

On Friday, investors on the Nigerian capital market lost N159.3 billion as the equity capitalization fell by 0.55 percent at the conclusion of business. The equities capitalization closed at N28.56 trillion after eight hours of trade on Friday, down from N28.72 trillion...

Nigeria Banking System Grows Assets By 15.6%

Despite the problems posed by the COVID-10 epidemic, the Nigerian banking system has remained resilient, growing total assets by 15.6 percent and profits by 6.8 percent in the first half of 2021. Aliyu Dikko, Chairman of the Board of Directors...

MTN, Airtel Commence PSB Operations In Nigeria

MTN Nigeria's Fintech subsidiary, MoMo Payment Service Bank(PSB) Limited, formally launched operations yesterday after receiving final clearance for a Payment Service Bank (PSB) license from the Central Bank of Nigeria (CBN). This comes after a successful pilot that began on May 16,...

Mashed Corpse Found On Lagos Int’l Airport Runway

The dismembered corpse of a man was discovered on Runway 18R of the Murtala Muhammed International Airport in Lagos on Thursday, causing a temporary shutdown and requiring international flights due to land to be diverted and turned back. Ethiopian Airlines...

Gucci, Adidas Parasol’s Failure To Keep Out Rain Sparks Outrage In China

The failure to keep out the rain of a parasol set to be marketed in China by major western labels Gucci and Adidas for 11,100 yuan (£1,329) has sparked outrage. On the Chinese social media network Weibo, criticism of the...

Nigeria, Others Require Assistance To Combat Food Insecurity – IMF

The International Monetary Fund (IMF) warned on Wednesday that Nigeria and other African countries require significant international assistance to combat food insecurity. This was stated by Abebe Aemro Selassie, director of the IMF's Africa Department, at a virtual IMF advisory conference titled...

Domestic Airlines Boost Minimum Rates Amid Fuel Crisis

As the country's aviation fuel crisis continues, domestic airlines in Nigeria are steadily boosting their minimum rates from N50,000 to N55,000 and higher. Airlines raised the base fare for domestic economy flight tickets from roughly N35,000 to N50,000 in February,...

Low Demand, Others Pushing Nigerian Firms To Curtail Production

Low demand and other obstacles, such as rising energy costs, are pushing Nigerian firms to curtail production, with some temporarily shutting down operations, according to BusinessDay. The Manufacturers Association of Nigeria (MAN) acknowledged the drop in manufacturing in Lagos and...

Tariff Reviews Don’t Result In Increase Electricity Rate – NERC

The Nigerian Electricity Regulatory Commission (NERC), has stated that tariff reviews do not always result in a rise in electricity rates. On Tuesday, the electrical market regulator issued a statement titled 'Notice of Compliance in Respect of the Biannual Review of...
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