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Guinness Nigeria Delivers 82.2% Revenue Growth in H1’25

Guinness Nigeria Plc has announced its unaudited financial results for the six months ended 31 December 2024, showcasing impressive resilience and strategic growth in a challenging macroeconomic environment. The company reported an 82.2% revenue increase, growing from ₦142.60 billion in H1’24 to ₦259.60…
6 hours ago

Oando Expands Oil Exploration with Angola

Oando Plc yesterday announced that its upstream subsidiary, Oando Energy Resources (OER), has been awarded operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin, following a competitive bidding process organised by the Angolan National Agency for Petroleum, Gas and Biofuels (ANPG). Block KON 13 is…
3 days ago

Transgrid Enerco Acquires 60% Stake in Nigeria’s Second Largest DisCo

Transgrid Enerco Limited, a consortium comprising Stanbic IBTC Infrastructure Growth Fund (SIIF), North-South Power Company Limited (NSP), and Axxela Limited, has acquired a 60 percent equity stake in Eko Electricity Distribution Company (Eko DisCo). BusinessDay’s findings showed the transaction represents the first market-driven…
4 days ago

Telecoms Subscribers Association Rejects Tariff Hike

Telecoms subscribers association has rejected the hike in tariffs which they described as unacceptable. The Nigerian Communications Commission (NCC) had on Monday approved a 50% tariff increase for telecom operators in the country following calls by the Association of Licensed Telecommunications Operators of Nigeria (ALTON)…
5 days ago

Company Registry: CAC Trains Staff on Compliance, Enforcement

The Corporate Affairs Commission, CAC, has conducted an in-house training for hundreds of its staff across the country on formalising businesses and enhancing post-incorporation compliance. The training, which took place on Monday in Abuja, came under the theme: ‘Re-engineering the Commission for Compliance…
21/01/2025

World Bank Debars Two Nigerian Companies, CEO for Fraud

The World Bank Group has imposed a 30-month debarment on two Nigerian companies, which are Viva Atlantic Limited and Technology House Limited, alongside their Managing Director and Chief Executive Officer, Mr. Norman Bwuruk Didam. According to a press statement by the Washington-based bank…
21/01/2025

NCC Approves 50% Tariff Hike For Telcos

Telephone subscribers in Nigeria will pay more for data and airtime as the Nigerian Communications Commission (NCC) on Monday approved a 50% tariff increase for telecoms operators in the country. In a statement, a spokesman for the regulator Reuben Muoka said the price…
21/01/2025

Why Dangote Refinery Increased Petrol Price — Official

Dangote Refinery has said that the recent adjustment in the company’s ex-depot price of petrol “is directly related to the significant increase in global crude oil prices”. The company assured Nigerians that three of its partners will sell petrol for ₦970 per litre…
20/01/2025

CBN Targets 70% Improvement in Payment Turnaround Time

The Central Bank of Nigeria (CBN) said it is targeting a 70 per cent improvement in its payment turnaround time with the launch of ministries, departments and agencies (MDAs) Naira Payment Solution. The bank said yesterday that the MDAs Naira Payment Solution is…
17/01/2025
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