On Sunday, the Dangote Petroleum Refinery announced a major initiative to transform Nigeria’s fuel distribution landscape. In a statement signed by its management, the company said that, effective 15 August, it will begin distributing petrol and diesel to marketers, petrol dealers, manufacturers, telecoms firms, aviation, and other large users across the country. “Dangote Petroleum Refinery is pleased to announce the ...

The Central Bank of Nigeria (CBN) has suspended dividend payments to shareholders and bonuses to directors and senior management staff of banks currently benefiting from regulatory forbearance. The directive was contained in a circular dated 13 June, signed by the bank’s Director of Banking Supervision, Olubukola Akinwunmi. According to the CBN, the move is part of efforts to strengthen capital ...

Oando Plc in its recent audited financial report announced that it invested N1.151 billion in charitable initiatives in 2024. The company said it made these contributions through its subsidiary, Oando Foundation, which implemented several programmes focused on education, environmental sustainability and community development, amongst others. The company said it deployed the fourth phase of the Clean Our World (COW) project, ...

The management of Air Peace has criticised the allegedly disruptive behaviour exhibited by Adams Oshiomhole, a Nigerian senator, which hindered flight operations at Terminal 1 of Murtala Muhammed International Airport on Wednesday. A statement issued by the airline’s management concerning the incident said Mr Oshiomhole arrived at the terminal 1 axis (Zulu Hall) of the airport about 20 minutes late ...

South Africa’s cable television operator MultiChoice Group plotted its path back to profitability in the year ended 31 March 2025 after cutting back the foreign exchange translation losses that tipped the company into a loss a year earlier by 82.6 per cent. Shares in the company rose marginally by 0.2 per cent in Johannesburg, following the earnings release. MultiChoice posted ...

The World Bank has maintained its projection that Nigeria’s economy will grow by 3.6 per cent in 2025, even as it downgraded global growth expectations due to rising trade tensions and widespread economic uncertainty. The projection was contained in the bank’s Global Economic Prospects report released Tuesday. It forecast that global growth in 2025 would slow to 2.3 per cent, ...

Governor Chukwuma Soludo of Anambra State has said President Bola Tinubu’s administration rescued Nigeria from the edge of economic collapse and restored public finance to solvency. Speaking on Wednesday at The Platform Nigeria in Lagos, an event organised by The Covenant Nation to mark Democracy Day, Mr Soludo praised Mr Tinubu’s “bold” economic reforms and described the country’s financial state ...

MRS Oil Nigeria Plc has announced the resignation of Amina Maina as a non-executive director of the company, effective 11 July. In a statement signed by the company secretary, Oluwakemi Jafojo, on Friday, the company said its board approved Ms Maina’s resignation through a written resolution dated 13 June. Ms Maina, who also serves as Group Executive Director (Supply and ...