The President of the Dangote Group and founder of the Dangote Petroleum Refinery, Aliko Dangote, says there will be an announcement of what he calls a major ‘shakedown’ in the entire country soon. Dangote said this was not about price reduction, but the complete overhaul of the downstream sector. He stated this in an interview […]
Stocks mostly rose on Tuesday as the latest round of China-US trade talks entered its second day. One of Donald Trump’s top advisers said he expected “a big, strong handshake.” There is optimism that the negotiations, which come after the US president spoke to Chinese counterpart Xi Jinping last week, will bring some much-needed calm […]
Dangote Petroleum Refinery and Petrochemicals FZE has announced an exclusive partnership with Premier Product Marketing LLC, a Vinmar company, to take Dangote Polypropylene to global markets outside Nigeria and Africa. This strategic agreement coincides with the launch of polypropylene production at Dangote’s world-class refinery and petrochemical complex in Lekki. The state-of-the-art plant utilises INEOS’s proven […]
There is no going back on rebuilding credibility through orthodox monetary policy, transparency and consistency, the governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said. At an engagement before the commencement of the International Monetary Fund (IMF) and World Bank Group (WBG) Spring Meetings today, the CBN partnered with J.P. Morgan, the […]
Gold reached $3,500 an ounce for the first time Tuesday, as US President Donald Trump’s tariffs and verbal attack against the Federal Reserve sent investors snapping up the safe haven asset. The precious metal reached an all-time high $3,500.10 an ounce before pulling back to $3,467.87.
MTN plans to launch a new streaming platform for mobile and fixed broadband users across the continent, a development that will challenge current market players like Netflix and Amazon Prime Video. MTN will achieve this through a partnership with global video software leader, Synamedia. The collaboration will leverage Synamedia’s cloud-based technology to deliver a mix […]
Mounting fears of a global recession, driven by aggressive tariff policies in the United States, and a wave of economic uncertainty are sending shockwaves through stock markets worldwide, with the Nigerian Exchange Limited (NGX) not exempted. But Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, insists that the recent 14 per cent […]
Tiktok has removed 2.4 million videos posted by Nigerian users in the fourth quarter of 2024 for violating its content policy. TikTok, owned by Bytedance, revealed that Nigeria was among the top 50 countries where videos violating its policies emanated from in Q4. The platform, which disclosed this in its latest Community Guidelines Enforcement report, […]
Nigeria’s net foreign exchange reserves (NFER) was $23.11 billion at the end of last year, the Central Bank of Nigeria (CBN) has said. The value is $15.6 billion short of the current gross reserves, which are currently at $38.7 billion, a slight slip from the $40.2 billion it closed last year. There may be a […]
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the apex bank remains resolute in its commitment to maintaining order in the country’s foreign exchange market by identifying and eliminating bad actors whose activities undermine the stability of the naira. This came as findings showed that the naira depreciated slightly at the official […]
