At the 8th National Cooperative Summit, Exhibition & Awards, Lagos State Commissioner for Commerce, Cooperatives, Trade & Investment, Folashade Ambrose-Medebem, underscored the pivotal role of the cooperative movement in empowering communities and driving inclusive governance. Speaking at the event, which was organised by the Cooperative Federation of Nigeria (CFN) at the LASCOFED Secretariat, Ogba, she Read More…
In a bid to boost local businesses and food production, Ikorodu Local Government Chairman, Mr. Wasiu Adesina, has announced plans to collaborate with the Lagos State Employment Trust Fund (LSETF) to roll out N30 million in soft loans for farmers and traders in the state. Adesina made this commitment during the flag-off ceremony for the Read More…
Nigeria’s state oil giant, NNPC, reported a remarkable 28% increase in its annual net profit, reaching a total of 3.297 trillion naira ($2.14 billion) for the year. The company also declared a dividend of 2.1 trillion naira, marking a significant financial milestone despite ongoing challenges in the operational and economic landscape. “Despite the inherent challenges Read More…
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…
