Month: August 2025

Four months ahead of the peak travel period, in December, two domestic airlines, Air Peace and United Nigeria, have jacked up their return ticket prices to N677,000, a situation likely to throw many travellers into difficulties. Airfares on eastern routes have surged ahead of the Christmas and New Year rush, with return tickets on Air […]

The Nigerian equities market extended losses into a second consecutive week by N2.29 trillion on sustained selloffs in Banking, Insurance, Oil & Gas, and Industrial Goods stocks. Consequently, the benchmark NGX All-Share Index (ASI) shed 2.51 per cent week-on-week to close at 141,004.14 points. Also, market capitalisation dipped by N2.29 trillion to N89.209 trillion, reducing […]

Shareholders of Presco Plc have approved a dividend of N26.30 per share amounting to N26.3 billion for the year ended December 31, 2024. The shareholders gave their approval at the Company’s annual general meeting held in Lagos. They also approved a capital raise of up to N250 billion by way of rights issue. Speaking, the […]

Nigeria has emerged as the largest stablecoin market in Africa, with nearly $22 billion in transactions recorded between July 2023 and June 2024. This was stated in the latest report released by Yellow Card titled, ‘Stablecoin Adoption in Emerging Markets – The Report for Global Business Leaders’. The report which is Yellow Card’s third and […]

Experts have warned against hasty electricity tariff reviews without properly addressing gaps in the power sector which might further strain the overall market structure. According to them, promoting a shift towards renewable sources is challenging because of obvious capacity constraints, while rushed introduction of commercial tariff structures will produce strong barriers to industry growth. Speaking […]

FCMB Group Plc has announced a proposal for an equity capital raise to strengthen its capital base in anticipation of its focused regional and international expansion plans. The financial services Group in a notification to the NGX Regulation Limited and the investing community said, that the Board of Directors of the company, acting pursuant to […]

The Nigerian National Petroleum Company (NNPC) Limited and key upstream gas suppliers have signed long-term Gas Supply Agreements (GSAs) with Nigeria Liquefied Natural Gas Limited (NLNG), marking a significant step toward boosting Nigeria’s domestic energy capacity and export potential. The agreements, spanning 20 years with options for extension, ensure the delivery of 1.29 billion standard […]

As change is growing in the Nigerian petroleum industry, it has become urgent for independent players to prepare for greater roles in meeting Africa’s long-term energy needs. This is also a capacity growth strategy for sustainable petroleum industry operations, which may necessarily entail forging partnerships that focus on goals, integrating upstream and downstream operations, developing […]

The Petroleum Technology Association of Nigeria (PETAN) has  presented an Award of Excellence to the Managing Director of Shell Nigeria Exploration and Production Company Ltd (SNEPCo) Ronald Adams, even as it commended Shell for supporting Nigerian content development in the energy industry. The award which was handed over by PETAN chairman Wole Ogunsanya during a […]