The Nigeria Extractive Industries Transparency Initiative (NEITI) has urged oil companies operating in Nigeria to prioritise the development of their host communities. NEITI’s Executive Secretary, Dr Orji Ogbonnaya Orji, made the call at the official presentation of a Policy Brief on three per cent Operating Expenses (OPEX) for Host Communities on Thursday in Abuja. The…
The Federal Government is set to begin implementing the $200 million African Export-Import Bank (Afrexim) fund to boost tourism and the creative economy on June 1. The Minister of Arts, Culture, Tourism, and Creative Economy, Hannatu Musa Musawa, who made the disclosure on Wednesday, also revealed that efforts are underway to mobilize $2 billion in…
Nigeria must create a favorable business environment and attract the right mix of domestic and international investments to boost its renewable energy sector, experts have urged President Bola Tinubu. The experts spoke during a legal and policy workshop workshop organised by Natural Justice, the Renewable Energy Association of Nigeria (REANO), and Just Energy Transition Africa…
Transcorp Hotels Plc, the hospitality subsidiary of Transcorp Group, has recorded N70 billion revenue, for the 2024 financial fiscal year. In the Company’s latest audited results, submitted to the Nigerian Exchange (NGX), Transcorp Hotels recorded a 69 per cent increase in revenue and 144 per cent growth in Profit After Tax underscoring the Company’s drive…
The Chairman, United Bank for Africa (UBA) Plc, and Heirs Holdings Group Tony Elumelu, has emphasised the need for a strategic and collaborative approach to drive sustainable economic growth across the African continent. According to him, to see the kind of growth needed in Cameroon specifically and in Africa generally, governments, private sector leaders, and…
The Chairman of Bharti Airtel, Sunil Bharti Mittal, has reaffirmed Nigeria’s critical role in Airtel’s African operations, describing the country as the backbone of the telecom giant’s strategy on the continent. Fielding questions from reporters at the State House, Abuja, after leading a delegation of Airtel Africa and Airtel Nigeria team to meet with President…
Telecom giant, MTN Group is set to report a significant decline in its full-year headline earnings per share (HEPS) when it publishes its annual report next month. The mobile operator affixed the drop to deteriorating foreign exchange impacts on its profit amid a good operational performance. MTN noted that its HEPS for the year ending…
Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, has advised oil and gas industry stakeholders in Africa to institute an Africa-wide local content framework that would harmonise policies and foster cross-border partnerships. He said such a framework would allow African nations to leverage collective strengths for mutual prosperity, arguing that…
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has called for a robust and strategic policy framework to unlock Africa’s vast gas resources and ensure energy security, economic diversification, and sustainable industrialisation. Ekpo made the call while speaking at the Nigerian International Energy Summit (NIES) in Abuja and stated that with over 600…
