Oando grows half year revenue to N2.1trn
Oando Plc has recorded a 20 per cent increase in revenue to N2.1 trillion for the half-year ended June 30, driven by higher crude oil production, improved operational efficiency and cost optimisation.
Petrol depot prices drop as marketers slash rates by up to N23/litre
By Udeme Akpan Petrol depot prices declined across major supply centres yesterday as marketers implemented fresh price cuts, signalling increased competition in the downstream petroleum market. An analysis of the mid-day depot price report showed that most major depots in Lagos, Warri, Calabar and Port Harcourt either reduced their prices or maintained existing rates, with no […]
Nigeria loses 47% of dollar millionaires, retains 4th position in Africa
By Babajide Komolafe Nigeria has lost nearly half of its dollar millionaires over the past decade, with the population of high-net-worth individuals falling by 47 per cent between 2015 and 2025, according to the 2025 Africa Wealth Report by Henley & Partners in collaboration with New World Wealth. Despite the sharp erosion in private wealth, Nigeria […]
CBN data localisation directive will boost investment in digital infrastructure — GFA Co-Founder
By Babajide Komolafe The Central Bank of Nigeria, CBN, data localisation directive will create measurable, long-term demand for local data centres, cloud services and other sovereign digital infrastructure, GFA Technologies Group has said. Co-founder of GFA Technologies Group, Adebola Omololu, stated this while assessing the investment opportunities arising from the directive, describing it as a catalyst […]
Nigeria risks losing African market over high production costs- Sugar Council Boss
By Babajide Komolafe Nigeria risks conceding the African market to other countries unless it urgently tackles high power, credit and logistics costs undermining the competitiveness of local manufacturers. Executive Secretary, National Sugar Development Council, NSDC, Mr Kamar Bakrin, stated this at the technical session of the 17th National Council on Industry, Trade and Investment, NCITI, in […]
BOI seeks stronger domestic capital to drive Nigeria’s devpt agenda
By Etop Ekanem The Bank of Industry (BOI) has reaffirmed that mobilising domestic capital has become imperative to financing Nigeria’s development priorities, as policymakers, development finance institutions (DFIs), and multilateral partners converged to chart a path towards sustainable economic growth. Speaking at the 6th Annual Conference and General Assembly of the Association of Nigerian Development Finance […]
