Tag: Business

FMCG SECTOR | HALF-YEAR RESULTS Guinness, NB, Dangote Sugar lead deleveraging drive as seven consumer goods giants cut H1 finance costs by 14.4% By Staff Reporter Major consumer goods companies are beginning to reap the benefits of aggressive debt reduction, as combined finance costs of seven listed FMCG giants fell by N21bn to N124.94bn in […]

The Nigerian Customs Service, Federal Operations Unit, Zone A, Ikeja, has arrested three suspects in connection with the seizure of illicit drugs and controlled substances estimated at N3.95 billion in street value. The Customs Area Controller of FOU Zone A, Gambo Aliyu, disclosed this on Thursday in Ikeja during the handover of the seized contraband […]

The Securities and Exchange Commission (SEC) has approved the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE, with the company offering 4.1 billion ordinary shares at ₦525 per share. The offer could raise approximately ₦2.15 trillion if fully subscribed, according to a statement issued by the Dangote Group on Friday. The approval […]

The Auditor-General for the Federation has raised fresh concerns over the disbursement of ₦33.75bn to 3.29 million households under the Federal Government’s social intervention programme, saying the payments could not be fully verified due to inadequate records. The Office of the Auditor-General for the Federation disclosed this in its 2024 Annual Report on Non-Compliance/Internal Control […]

The Nigerian currency, the naira (₦), continued its battle against the United States dollar at the official foreign exchange market on Thursday. Data from the Central Bank of Nigeria (CBN) showed that the naira traded at ₦1,315.6717 to $1 on Thursday, representing a slight appreciation from the ₦1,326.6862/$1 recorded on Wednesday. However, at the parallel […]

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has come under criticism over allegations that adulterated and substandard petroleum products continue to enter the Nigerian market. The President of the Nigeria Energy Consumers Watch Initiative, Alhaji Abdulrahman Sani Ibrahim, made the allegation in a statement issued on Friday, describing the reported influx of blended […]