Tag: business news

By Adedapo Adesanya National security agencies led by troops of the 6 Division have recorded significant milestones in the fight against oil theft, including the dismantling of 37 illegal refining sites, the seizure of six boats, the arrest of 10 suspected oil thieves, and the recovery of over 130,000 litres of stolen products. These feats…

By Adedapo Adesanya National security agencies led by troops of the 6 Division have recorded significant milestones in the fight against oil theft, including the dismantling of 37 illegal refining sites, the seizure of six boats, the arrest of 10 suspected oil thieves, and the recovery of over 130,000 litres of stolen products. These feats…

By Modupe Gbadeyanka The chief executive of Access Bank Plc, Mr Roosevelt Ogbonna, has expressed the commitment of the company to building partnerships that drive sustainable growth. Speaking when the lender hosted the President of Germany, Mr Frank-Walter Steinmeier, in Lagos last week, he said the organisation will always leverage its deep expertise in cross-border…

By Adedapo Adesanya Nigeria’s Gross Domestic Product (GDP), as computed by the Central Bank of Nigeria (CBN), expanded by 3.4 per cent in the third quarter (Q3) of 2024, with output reaching N20.115 trillion, different from the 3.19 per cent growth quoted in Q2 2024 from an output of N18.285 trillion, according to the latest…

By Paolo Abamwa Last month, The American Business Council, brought together cybersecurity experts, tech leaders, and industry professionals for a cybersecurity conference themed Digital Transformation and Cybersecurity in Africa: Enhancing Information Security Using AI. The event focused on how Africa can leverage AI to strengthen its digital infrastructure and address the region’s growing cybersecurity challenges.…

Managing resources efficiently is essential for businesses aiming to maintain a competitive edge. Rising energy costs, fluctuating commercial gas prices, and increasing business electricity tariffs can significantly impact profitability. A successful energy management strategy helps companies control business energy bills, optimise usage, and implement energy-efficient measures. Utility Bidder has shown how proactive energy management can…

By Adedapo Adesanya Nigeria’s Gross Domestic Product (GDP), as computed by the Central Bank of Nigeria (CBN), expanded by 3.4 per cent in the third quarter (Q3) of 2024, with output reaching N20.115 trillion, different from the 3.19 per cent growth quoted in Q2 2024 from an output of N18.285 trillion, according to the latest…

The Nigerian stock market tracked by the All-Share Index (ASI) ended in the green on December 23, 2024, with a modest gain of 227.06 points, closing at 101,356.15, a rise of 0.22% as it approaches the 101,500-mark. However, market volume dipped from 513 million shares to 503 million shares, reflecting a 2% decrease from the…

The 2023 National Health Facility Survey (NHFS) has revealed concerning gaps in tuberculosis service availability across Nigeria, with only 16.2% of health facilities offering tuberculosis (TB) diagnosis and management services. The survey was conducted by the National Bureau of Statistics (NBS) in collaboration with the Ministry of Health and Social Welfare, with technical support from…

President Bola Ahmed Tinubu will hold his first Presidential Media Chat tonight, marking a significant moment in his administration’s engagement with Nigerians. The highly anticipated broadcast is scheduled for 9 p.m. and will be aired on the Nigerian Television Authority (NTA) and the Federal Radio Corporation of Nigeria (FRCN). The broadcast will be transmitted on…

The Federal Capital Territory Administration (FCTA) has extended the contracts of two private security firms for two years, securing the Abuja Rail Mass Transit (ARMT) system until 2026. Dr. Elechi Chinedum, Mandate Secretary of the FCTA Transport Secretariat, made the announcement on Monday during a briefing in Abuja, though the identities of the firms were…

Mufasa: The Lion King, Disney’s highly anticipated prequel to its 2019 remake of The Lion King, has made a strong debut at the Nigerian box office, grossing N64 million in its opening weekend. The film’s performance not only secured the highest-grossing Hollywood title of the weekend but also marked the strongest live-action opening in Nigeria…

Funke Akindele’s latest blockbuster, Everybody Loves Jenifa, is dominating the Nigerian box office, earning a staggering N511 million just 12 days after its release. The film, which premiered on December 13, 2024, has captivated audiences, selling over 71,700 tickets within its first week and quickly becoming the fastest Nollywood movie to cross the N500 million…

The Nigeria Centre for Disease Control and Prevention (NCDC) has disclosed that 1,154 confirmed cases and 190 deaths have been recorded so far this year, representing a case fatality rate of over 13%. Speaking on Monday in Abuja, the NCDC Director-General, Dr. Jide Idris, raised concerns about the “increasing number of Lassa fever cases and…

Cancer care is becoming more tailored to individual needs, and it has continued to present a major health challenge in Nigeria with 127,763 new cases and 79,542 deaths, according to statistics by the World Health Organization (WHO)’s cancer agency, the International Agency for Research on Cancer (IARC). The five-year prevalent cases reached 269,109, showing the…

The founder of the instant messaging platform, Pavel Durov, on Monday declared that the company is now profitable with revenue crossing $1 billion in 2024. The company, which launched its premium subscription service in 2022, now has 12 million paid users. Durov also said that the app is finishing the year with more than $500…

In the Nigerian stock market, the insurance sector is typically overshadowed by banking and industrial giants. Yet, Sunu Assurances Plc has defied expectations, emerging as one of the best-performing stocks on the Nigerian Exchange (NGX) in 2024. With an impressive 581% year-to-date (YtD) gain as of December 20, the company is not only the top…

Planet A Foods, a German-based food-tech company, has successfully raised $30 million in Series B funding to enhance the production of Chivova, a groundbreaking alternative to traditional chocolate. This announcement comes amid rising chocolate prices in the commodities market, likely driven by supply struggles in major cocoa-producing countries like Ivory Coast and Ghana. In 2024,…

Julius Berger Nigeria Plc has notified its shareholders, the Nigerian Exchange (NGX), and the investing public that its wholly owned subsidiary, Julius Berger Investments Limited, will establish a new subsidiary in the Benin Republic. This announcement was published on the NGX disclosure page on December 23, 2024, and signed by Company Secretary Cecilia Ekanem Madueke,…

Managing resources efficiently is essential for businesses aiming to maintain a competitive edge. Rising energy costs, fluctuating commercial gas prices, and increasing business electricity tariffs can significantly impact profitability. A successful energy management strategy helps companies control business energy bills, optimise usage, and implement energy-efficient measures. Utility Bidder has shown how proactive energy management can…