The Nigerian National Petroleum Company Limited, (NNPCL) on Friday, revealed that the amount spent as subsidy on Premium Motor Spirit, popularly called petrol, had crossed N400bn monthly. NNPCL’s Group Chief Executive Officer,…
Category: Business
5G network will improve Nigeria’s communication services – NCC
Prof. Umar Danbatta, executive vice-chairman, Nigerian Communications Commission (NCC), says the fifth-generation network which had been launched in Lagos, would improve the nation’s communication services. According to NCC, the Federal Government’s digital…
Adidas may lose $1.3bn to unsold Yeezy stock
If Adidas is unable to sell their remaining Yeezy supply, they could lose over 1.2 billion euros ($1.3 billion) in sales in 2023. The German sportswear company said it was assessing what…
Jaiz Bank declares N6.67bn profit before tax in 2022
Nigeria’s Non-Interest premier Bank, Jaiz Bank has recorded a N.67 billion Profit Before Tax, at the close of its 2022 operation year. The financial statement released to the Nigerian Exchange Group, showed…
Elon Musk’s internet service, ‘Starlink’ now active in Nigeria
After months of rumors regarding the company’s future in Nigeria, Starlink, the satellite internet service, is now active in Nigeria. This was confirmed in a Twitter post by its parent company, SpaceX…
We sign deals worth $2.5bn to develop Africa’s energy – AEC
According to NJ Ayuk, the Executive Chairman of the African Energy Chamber, AEC, the organization will have assisted in the signing of $2.5 billion worth of oil and gas contracts in 2022….
Reps dump N22.7tn loan request, grants N1tn borrowing
The requests for Ways and Means Advances from the Central Bank of Nigeria submitted by President Muhammadu Buhari were partially granted by the House of Representatives on Tuesday. The lawmakers abandoned the…