Dangote Petroleum Refinery received 146,000 metric tonnes of crude oil from the international market on Sunday, May 18, 2025, with the vessel Hercules still discharging its cargo, according to Vanguard. Another vessel, Sienna, is expected to arrive with 125,000 metric tonnes of crude oil for refining at the 650,000 barrels per day facility in Lekki, […]
Abdul Samad Rabiu, Chairman of BUA Group, announced on Thursday, May 15, 2025, that the company will freeze cement prices for contractors involved in the Federal Government’s Renewed Hope agenda projects, a decision made in collaboration with Dangote Cement’s Aliko Dangote to support President Bola Tinubu’s economic recovery efforts. Speaking to journalists after meeting Tinubu […]
The House of Representatives Committee on National Planning and Economic Development has cautioned the Central Bank of Nigeria (CBN) against the unintended consequences of maintaining high interest rates to curb inflation, as the CBN prepares for its 300th Monetary Policy Committee (MPC) meeting on May 19–20, 2025, in Abuja. During a meeting with the Statistician-General […]
Dangote Packaging Limited (DPL) has unveiled plans to enter the African export market, leveraging a significant increase in production capacity at its two manufacturing plants. During a strategic board meeting on Tuesday, May 6, 2025, DPL’s Chairman, Mr. Robert Ade-Odiachi, announced that new machinery has boosted monthly production of polypropylene bags from 36 million to […]
The Nigerian Exchange (NGX) Group House in Lagos hosted a gathering of industry leaders, financial experts, and dignitaries on May 6, 2025, for a tribute session and special closing gong ceremony to honor the late Dr. Pascal Dozie, former President of the Council of the Nigerian Stock Exchange (NSE). The event celebrated Dozie’s transformative leadership, […]
The Nigerian stock market maintained its bullish momentum on Tuesday, May 6, 2025, gaining N1.045 trillion on the Nigerian Exchange Ltd. (NGX). Market capitalization rose by 1.56% to N68.105 trillion from N67.060 trillion on Monday, while the All-Share Index (ASI) climbed 1,662.60 points, or 1.56%, to close at 108,361.10, up from 106,698.50. The rally was […]
Banks’ borrowings from the Central Bank of Nigeria’s (CBN) Standing Lending Facility (SLF) dropped sharply by 97.6% month-on-month to N380 billion in April 2025, down from N16.5 trillion in March, indicating enhanced liquidity in Nigeria’s banking system. According to CBN financial data, banks borrowed N50.46 trillion through the SLF in the first quarter of 2025 […]
The UK’s Manufacturing Africa (MA) programme and London-based TLG Capital have signed a strategic partnership to enhance Nigerian manufacturing companies’ access to capital through the Africa Growth Impact Fund II (AGIF II), which secured a $75 million first close towards its $200 million target on April 29, 2025. Anchored by the World Bank’s International Finance […]