By Lagos Metropolitan News Desk The global lithium market has experienced significant turbulence over the past two years, with prices plummeting due to an oversupply and weaker-than-expected demand for electric vehicle (EV) batteries. This downturn is exemplified by the dramatic fall in the CME contract for lithium hydroxide from a 2022 high of $85,000 per Read More…
Nigeria is gearing up to host a specialised oil and gas roadshow aimed at enticing back international energy companies that previously withdrew from its onshore sector, a senior government official announced on Monday. Following the departure of major players like Shell and Exxon, who shifted focus to deep offshore exploration, Nigeria has faced challenges in Read More…
Undertaking capital-intensive projects in Nigeria, particularly in Lagos, comes with a myriad of challenges that can impede progress and success. Aliko Dangote, founder of the Dangote Group, has firsthand experience with these obstacles. His $19 billion refinery project in Lagos faced repeated sabotage attempts from local and international criminal organisations, which he described as a Read More…
In a revealing account at the recent Afreximbank Annual Meetings, Aliko Dangote, Africa’s wealthiest individual and founder of Dangote Group, shared a harrowing tale of resilience against sabotage attempts by local and international criminal entities on his ambitious $19 billion refinery project. Dangote described these entities as an “oil mafia,” which he suggests have vested Read More…
The Securities and Exchange Commission (SEC) of Nigeria has issued a stark warning to investors regarding the burgeoning trend of meme coins, specifically citing the $Davido coin, which has recently gained media attention due to its association with the renowned Nigerian artist David Adeleke, popularly known as Davido. In May, Davido made headlines by entering Read More…
In a landmark move that could reshape the landscape of Nigeria’s oil industry, Seplat Energy is on the verge of concluding its acquisition of ExxonMobil’s Nigerian shallow water oil assets, valued at a colossal $1.28 billion. This development comes after the Nigerian National Petroleum Corporation (NNPC) withdrew its legal challenge against the sale, which had Read More…
The Nigerian Exchange (NGX) experienced a modest increase in its All Share Index (ASI), which rose by 0.09%, closing at 99,925.29 points. This slight uptick reflects a cautiously optimistic market sentiment amid fluctuating trading activities. The day’s trading session recorded a total of 7,302 deals. The volume of shares traded reached 318,100,359, with a corresponding Read More…
Governor Babajide Sanwo-Olu highlighted Lagos State’s transformative economic journey and its pivotal role in driving Africa’s growth narrative during the 3rd AfriCaribbean Trade and Investment Forum in Nassau, Bahamas, on Wednesday. Addressing a diverse audience from Africa and the Caribbean, Sanwo-Olu underscored Lagos’ remarkable economic achievements, attributing them to robust internal revenue generation and strategic Read More…
Governor Babajide Sanwo-Olu of Lagos State emphasised the urgent need for continuous and enhanced financing to combat climate change challenges during the closing ceremony of the 10th Lagos International Climate Change Summit on Thursday. Represented by his Deputy, Dr. Obafemi Hamzat, the governor stressed the importance of collaborative efforts among governments, financial institutions, and international Read More…
The Naira experienced a slight depreciation on Thursday, trading at N1476.24 to the dollar at the official market, according to data from the FMDQ Exchange. This marks a decrease of N2.58 or 0.17% compared to the previous trading day, where it traded at N1,473.66 to the dollar. Furthermore, the volume of currency traded reduced significantly, Read More…
