Nigeria’s state oil corporation, NNPC Ltd., has raised concerns over Italy’s Eni subsidiary’s announcement of a deal to transfer onshore oil assets to local company Oando PLC. In a letter seen by Reuters, NNPC Ltd. contends that Eni’s subsidiary, Nigerian Agip Oil Company Ltd. (NAOC), failed to obtain NNPC’s consent before revealing the transaction. Such Read More…
The naira gained against the dollar on Thursday as it exchanged at N736.62 at the Investors and Exporters window. The local currency appreciated by 4.53 percent compared to the N771.59 it exchanged for the dollar on Wednesday. The open indicative rate closed at N774.74 to the dollar on Thursday. A spot exchange rate of N799.90 Read More…
PZ Cussons, the renowned soap maker based in Manchester, has revealed its intentions to acquire the minority shareholders of PZ Cussons Nigeria and subsequently remove the business from the Nigerian stock exchange. The decision to take this step is attributed to the “foreign exchange challenges” experienced in Nigeria. According to the company, “The group believes Read More…
Nigeria has successfully garnered investment pledges totalling almost $14 billion from Indian investors, signalling a growing economic partnership between the two nations. Ajuri Ngelale, a presidential spokesperson, made the announcement and highlighted important investment commitments: President Bola Tinubu, representing Nigeria as a guest country at the upcoming G20 summit in New Delhi, played a pivotal Read More…
In an eagerly anticipated U.S. Open semi-final, Carlos Alcaraz is set to face Daniil Medvedev, featuring the last two Flushing Meadows champions. The world number one Medvedev’s convincing 6-3, 6-2, 6-4 victory over a weary Alexander Zverev on Wednesday served as the foundation for this match. Zverev’s readiness to take on the energetic Alcaraz was Read More…
During a summit involving Southeast Asia’s ASEAN bloc, China, the United States, and other nations in Indonesia, U.N. Secretary-General António Guterres issued a warning on Thursday about the world facing a potential “great fracture” in its economic and financial systems. Guterres, in a comprehensive address that touched on geopolitical tensions, multilateral development finance, and climate Read More…
On Wednesday, the Nigerian naira experienced a decline against the US dollar, reaching an exchange rate of N771.59 at the Investors and Exporters window. This represented a 3.57% depreciation compared to the N744.97 it was valued at on Tuesday. The open indicative rate concluded at N766.67 to the dollar on Wednesday, while the highest rate Read More…
Students at the University of Lagos have urged the Sabo Police Station’s security personnel to promptly release their fellow students arrested during a peaceful protest. At 8 a.m., the protesters gathered at the institution’s main gate to express their opposition to the university’s management’s mandatory fee hike. In an August 21 statement, the university’s management Read More…
Nigerians have been given a solemn promise from their president, Bola Tinubu, who has pledged his renewed commitment to creating a harmonious and wealthy country. This statement was made in reaction to the Presidential Election Petition Tribunal’s decision on February 25. Chief Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, conveyed Read More…
