By Ayomide Otitoju Aliko Dangote, President of Dangote Group, announced plans to achieve a $30 billion revenue target by the end of 2025, which he believes will bolster the Nigerian naira. He made these remarks during a media tour of Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited on Sunday, emphasizing a strategy for…
By Ayomide Otitoju Jaiz Bank is set to increase its capital base to N70 billion by the end of 2024. The bank reaffirmed its commitment to becoming the center of Islamic banking in Africa. Chairman of the Board of Directors, Mustapha Bintube, disclosed this during a send-off ceremony in Abuja for 11 retired board members,…
By Ayomide Otitoju Mele Kyari, Group Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), announced that Nigeria will become a net exporter of refined petroleum products by December. He made this statement on Monday during a meeting at the National Assembly with key economic stakeholders, including Finance Minister Wale Edun, Budget and National…
As food inflation surpasses 40%, the Nigerian government has rolled out several programs to mitigate the impact on citizens. Minister of State for Agriculture Aliyu Abdullahi, speaking on Channels Television’s Sunrise Daily, expressed optimism that the situation would improve. “Agriculture has a time frame. Now, a lot of production is ongoing. We are in the…
Nigeria’s inflation rate increased to 34.19% in June 2024, up by 0.24 percentage points from May’s rate of 33.95%, according to the National Bureau of Statistics (NBS). The NBS’s Consumer Price Index (CPI) report, released on Monday, highlighted this surge as part of the ongoing economic challenges facing the nation. “On a year-on-year basis, the…
Abuja, Nigeria – Nigeria’s recent decision to suspend duties, tariffs, and taxes on the importation of maize, husked brown rice, wheat, and cowpeas for 150 days has drawn criticism from Akinwumi Adesina, President of the African Development Bank (AFDB). In a statement published on AFDB’s X account, Adesina addressed African Primates of the Anglican Church…
Lagos, Nigeria – In celebration of its 75th anniversary, Africa’s Global Bank, United Bank for Africa Plc (UBA), is set to launch the “UBA Legacy Promo.” This campaign is designed to honor UBA’s rich legacy and its longstanding commitment to rewarding loyal customers. According to a statement, the UBA Legacy Promo, which will run for…
In a meeting with media leaders in Lagos, Aliko Dangote highlighted the evolution of Dangote Group over four decades, shifting from a trading firm to a diverse conglomerate. His goal, he emphasized, is to bolster Nigeria’s economy and enable broader Nigerian participation in company ownership. Since its inception in 1978, Dangote Group has expanded into…
Ibom Air has announced the acquisition of a new Airbus A220-300, marking a strategic move to increase capacity and cater to rising passenger demand. The General Manager for Marketing and Communication, Aniekan Essienette, revealed this in a statement on Friday. Owned by the Akwa Ibom State Government, Ibom Air is expanding its services with the…
