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NNPCL to Boost Stake in Dangote Refinery to 20%
The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to increase its equity in the 650,000 barrels-per-day Dangote Refinery to 20%, the company’s Group Chief Executive Officer, Engr. Bayo Ojulari, revealed at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). Africa’s largest refinery, the Dangote Petroleum Refinery, commenced operations last year but has…
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UK Bank Stocks Climb as Budget Tax Threat Fades, Reports Say
UK bank stocks rose on Thursday following reports that Chancellor Rachel Reeves may exclude them from a planned budget tax hike. The Financial Times reported that the upcoming budget could spare Britain’s financial institutions from additional tax burdens, boosting investor confidence. The FTSE 350 Banks Index surged 1.3% in early trading, outperforming the broadly flat…
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FG Launches Ministerial Project Approval Board to Boost Equipment Leasing and PPPs
The Federal Government of Nigeria has inaugurated the Ministerial Project Approval Board (MPAB), alongside promoting a digital transformation partnership with the Equipment Leasing Registration Authority (ELRA). These initiatives aim to modernize Nigeria’s leasing industry and improve access to equipment finance for businesses, particularly small and medium-sized enterprises (SMEs). Key Objectives: Minister of Finance, Wale Edun,…
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Nigeria’s Non-Interest Capital Market Valued at N1.6 Trillion, Says SEC
The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has announced that Nigeria’s non-interest capital market has reached a valuation of over N1.6 trillion. This milestone underscores the sector’s growing role in advancing financial inclusion and funding critical infrastructure projects. Dr. Agama made the statement at the 7th African International Conference on…
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COP30 Key to Unlocking Nigeria’s Multi-Billion Dollar Carbon Market, Says Netzence
Netzence Sustainability Limited has stated that the upcoming COP30 climate conference presents a critical opportunity for Nigeria to convert emission reductions into tangible economic value, positioning the country to tap into a significant new revenue stream. In a recent statement, Chief Operations Officer Idia Ogedegbe emphasized that the new carbon-market architecture can transform tonnes of…
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Tinubu Implementing Comprehensive Strategy to Combat Terrorism, Says Alake
The Federal Government has stated that the Bola Tinubu administration is executing a multi-faceted strategy to combat terrorism, integrating military, socio-economic, and diplomatic initiatives. Dele Alake, the Special Adviser to the President, made this assertion during a news conference hosted by the Minister of Information and National Orientation, Alhaji Mohammed Idris, on Wednesday in Abuja.…
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Court Dismisses Dangote Refinery’s N100 Billion Suit Over Import Licences
The Federal High Court in Abuja has dismissed the N100 billion lawsuit filed by Dangote Petroleum Refinery and Petrochemicals FZE against the Nigerian National Petroleum Company Limited (NNPCL) and other parties concerning a dispute over fuel import licences. Justice Mohammed Umar issued the ruling, dismissing the case after the defendants made an oral application. This…
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European Stocks Dip as Investors React to Mixed Earnings; Legrand Shares Plummet 11%
European equity markets edged lower on Thursday, extending a week marked by volatility and cautious sentiment. Tech-linked stocks led the downturn as disappointing results from French electrical equipment maker Legrand intensified ongoing concerns over lofty valuations. STOXX 600 Edges Lower Amid Earnings Season Volatility The pan-European STOXX 600 index (.STOXX) slipped 0.2% to 570.98 points…
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Lagos Government Launches Second Phase of Compensation Registration for Oworonshoki Regeneration
The Lagos State Government has commenced a second round of enumeration for property owners in Oworonshoki, a key step in compensating residents affected by the ongoing urban regeneration project. The exercise, organized by the Lagos State Urban Renewal Agency (LASURA), took place at the Oloworo Palace in Kosofe Local Government Area. It aims to register…
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Grasim Industries Shares Plunge Over 6% After Birla Opus CEO Exit Sparks Growth Concerns
Shares of Grasim Industries Ltd (GRAS.NS) plunged as much as 6.5% on Thursday—marking the steepest intraday decline in more than three years—after the sudden exit of the CEO of its newly launched paints division triggered concerns about long-term growth. Leadership Change Drives Stock Selloff Rakshit Hargave, who served as CEO of Grasim’s paints arm, Birla…
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