MTN Nigeria Communications Plc has established an annual fee of N54.120 million for the Chairman of its Board of Directors for the fiscal year ending December 31, 2024, and subsequent years until reviewed. It also fixed N36.285 million as the annual fee for each of the other Non-Executive Directors, The company said this in the…
More than 200 schools have so far registered for the National Schools’ Team Chess Championship being organized by Ecobank Nigeria in collaboration with Nigeria Chess Federation (NCF). The competition is scheduled to kick off on Friday 24th at the Ecobank Pan African Centre (EPAC) on Victoria Lagos. It is open to students from primary to…
From 1.28 million barrels per day in April, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, says Nigeria’s oil production was inching towards 1.7mbpd as of Saturday. This is as the NNPCL boss hinted that the country that critical gas infrastructure projects are ongoing to ensure the transport of…
Here’s what’s been making the business headlines in sub-Saharan Africa this week. Anglo American is exploring an IPO for its diamonds business De Beers, two people familiar with the matter have said on a condition of anonymity. Anglo, which has been synonymous with South African mining for decades, set out plans for a potential break-up…
Shell Nigeria Exploration and Production Company Limited’s Bonga field produced 138,000 barrels of oil per day in 2023, a review of operations has shown. Bonga, Nigeria’s first deep-water development, pumped about 37,000 more oil daily in 2023 than the 101,000bpd produced in 2022. The company, in a statement, said the improvement was driven by the…
In the first quarter of 2024, FCMB Group’s earnings before taxes increased by 192.6 percent to N31.3 billion. Every business segment within the group showed notable growth, according to FCMB’s Q1 financial results, which were submitted to the Nigerian Exchange Limited. Investment banking led the group growth, improving by 228.1 per cent, followed by consumer…
The National Bureau of Statistics (NBS) has announced that Nigeria’s inflation rate rose to 33.69 per cent in April 2024. The NBS made this known via its Consumer Price Index (CPI) report released on Wednesday, May 15, 2024. It noted that the April headline inflation rate showed an increase of 0.49 per cent when compared…
The United States (U.S.) is partnering with First City Monument Bank (FCMB) in support of health care provision in Nigeria.The programme, packaged under the U.S. Agency for International Development (USAID), will strengthen Nigeria’s health sector, as well as private sector resilience, Mission Director, Melissa Jones, has said. Under the terms of the agreement, USAID and…
Nigeria suffers a nationwide fuel shortage. Only the Nigerian Institute of Social Research and Social Studies Departments in universities can calculate the cost to business, communities and citizens of the trillions of hours and naira lost to the 160+m [are we really 200m+?] Nigerian citizens. Just think about it and multiply it for hours, business,…
