Category: Business
Olukoyede charges Guinness management on regulatory compliance
Abuja, Nigeria, May 12, 2026 The Executive Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has charged the management of Guinness Nigeria Plc to sustain strict compliance with rules and regulations in the conduct of its business operations in Nigeria. Olukoyede gave the charge on Tuesday while receiving the management team of the…
Nigeria Reaffirms Economic Cooperation With Russia At High-Level Bilateral Engagement
Abuja, Nigeria — May 7, 2026 The Federal Government of Nigeria has reaffirmed its commitment to strengthening economic cooperation with Russia during a high-level bilateral engagement involving key officials from both countries.The meeting focused on expanding trade relations, industrial development, investment opportunities, and strategic partnerships in critical sectors of the economy, including energy, agriculture, technology,…
FG to Revive Kaduna Textile Industry in New Push for Economic Growth
Kaduna, Nigeria – July 29, 2025 In a significant move aimed at revitalizing Nigeria’s manufacturing sector, the Federal Government has unveiled plans to rejuvenate the once-thriving Kaduna Textile Industry, with the goal of boosting industrialization and driving inclusive economic growth. The announcement was made by Senator George Akume, Secretary to the Government of the Federation…
Tesla Q1 Sales Plummet 13% Amid Musk Political Backlash and Production Woes
Tesla reported disappointing first-quarter vehicle deliveries Wednesday, with sales dropping 13% year-over-year to 336,681 units as CEO Elon Musk’s political entanglements and production challenges weigh heavily on the electric vehicle pioneer. Key Takeaways from Tesla’s Q1 Report The Musk Factor: Political Fallout Musk’s vocal support for President Trump’s administration—including advising on federal job cuts—has sparked…
Lagos Set to Host Nigeria’s Premier SME Trade Fair with ₦5 Billion Sales Target
Lagos, Nigeria – The Lagos State Government, in partnership with Naija Brand Chick (NBC), is gearing up to host the 2025 Lagos Tourism NBC Trade Fair, Nigeria’s largest SME commerce event, with an ambitious ₦5 billion sales target and over 220 vendors expected to participate. Scheduled for April 11–13 at the Federal Palace Hotel’s Balmoral…
NNPCL Prepares for Landmark Public Listing Amid Transparency Concerns
The Nigerian National Petroleum Company Limited (NNPCL) has entered the final stages of its long-anticipated transition to a publicly traded entity, announcing plans to list its shares on the capital market in compliance with the Petroleum Industry Act (PIA) 2021. The move, revealed Thursday by Chief Corporate Communications Officer Olufemi Soneye, marks a pivotal moment…
Nigeria Customs Launches Indigenous “B-Odogwu” System to Revolutionize Trade Processing
Locally developed platform aims to streamline operations, boost transparency In a major push for digital transformation, the Nigeria Customs Service (NCS) has officially launched B-Odogwu, a homegrown digital platform designed to modernize trade facilitation and compliance across the country. A New Era for Trade Efficiency Comptroller Dalhat Abubakar of the Kano/Jigawa Command unveiled the system…
Dangote Refinery Begins Jet Fuel Exports to U.S., Set to Lower Aviation Prices
The Federal Government, through the Nigerian National Petroleum Company Limited (NNPCL), has announced the commencement of jet fuel exports from the Dangote Refinery to the United States, a development expected to lower aviation fuel prices in North America ahead of the peak summer travel season. In a statement issued by refinery management and confirmed by…
Dangote Petroleum Refinery Temporarily Suspends Sales of Petroleum Products in Naira
Dangote Petroleum Refinery has announced a temporary suspension of petroleum product sales in Naira, citing the need to align its sales proceeds with its crude oil purchase obligations, which are denominated in U.S. dollars. The decision, communicated in a statement released on March 19, 2025, aims to address a mismatch between Naira sales and dollar-denominated…
Court Rejects NNPC’s Bid to Strike Out Dangote’s N100 Billion Suit Over Fuel Import Licenses
A Federal High Court in Abuja has dismissed the Nigerian National Petroleum Company Limited’s (NNPC) request to strike out a N100 billion lawsuit filed by Dangote Refinery and Petrochemicals against the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and seven other companies. The suit challenges the issuance of fuel import licenses to NNPC and…