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Less Than 2% of African Cocoa Processed into Finished Products, ICD Highlights
The International Cocoa Diplomacy (ICD) has called for stronger collaboration to enhance the quality of African cocoa production and increase the value of cocoa exports. Speaking at a joint briefing with the Lagos Chamber of Commerce & Industry (LCCI) ahead of the International Trade Fair and Eko Chocolate Show, ICD Convener HRM Queen Angelique-Monet Thompson…
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Portugal’s EDP Announces €12 Billion Investment Plan for 2026-2028, Prioritizes U.S. Renewable Expansion
EDP (Energias de Portugal), the country’s largest utility and a leading player in the global renewable energy sector, has unveiled a strategic investment plan of €12 billion ($13.99 billion) for 2026-2028. The majority of this investment will support renewable energy growth, with a strong focus on expanding capacity in the United States, the company announced…
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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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