BUSINESS NEWS

Nigeria generated N714.4 billion from Company Income Tax (CIT) in the second quarter of this year (Q2’22). This figure represents a 29 per cent quarter-on-quarter growth when compared to N551.5 billion generated in Q1’22. In it’s CIT report for Q2’22 released today, the National Bureau of Statistics, NBS, said that the CIT generated in  Q2’22 […]

Members of the Petroleum and Natural Gas Senior Staff Association of Nigeria on Thursday commenced a nationwide protest over crude oil theft. It was observed that the oil workers carried banners with inscriptions such as ‘Chasing Oil Thieves and Vandals Out Of Business and ‘Oil Theft Is Illegal’. Speaking at the march that started from […]

Five fresh millionaires have emerged in Kano as part of the ongoing Dangote Cement promotion which started in July. Speaking at the presentation of cheques to the new winners, Group Head, Sales and Marketing, Rabiu Umar, said the promo was a way of giving back to society and rewarding customers of Dangote Cement Plc. He […]

As Nigeria and other African countries suffer wheat shortage, the Minister of Agriculture and Rural Development, Dr Mohammad Abubakar, Tuesday, vowed to ensure Nigeria ranks Africa’s largest wheat producer and exporter. Abubakar made the declaration in his keynote address delivered at the Stakeholders Validation Workshop of the National Wheat Strategy Document for Self-sufficiency in Nigeria […]

The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples stood at 104.85 U.S dollars per barrel as at Monday, Aug. 29. This is compared with 103.89 U.S. dollars per barrel of the previous Friday, according to OPEC Secretariat calculations obtained by the newsmen Abuja as released by […]

Fidelity Bank Plc has announced its proposed acquisition of a 100% equity stake in Union Bank Plc in the United Kingdom. In a corporate filing on the Nigerian Exchange Limited on Tuesday, Fidelity Bank said the Central Bank of Nigeria had issued ‘No Objection’ to its proposed acquisition of the bank which commenced London operations […]

Barring any last-minute change, Nigeria will commence assemblage and manufacturing of environmentally friendly, green, electric and smart automobiles by 2023. Already, the Federal Government of Nigeria through the National Agency for Science and Engineering Infrastructure (NASENI), has signed a Memorandum of Understanding, MoU, with Israeli and Japanese companies for the commencement of the project. Speaking […]

Trading activities on the Nigerian Exchange Ltd. (NGX) on Thursday remained bullish with the crucial indicators growing by 2.03 per cent. The market capitalisation gained N532 billion to close at N26.786 trillion, compared with N26.253 trillion on Wednesday. Similarly, the All-Share Index, which opened at 48,675.24, gained 986.63 points or 2.03 per cent to close […]

Universal Insurance Plc, on Friday said it recorded a total premium income of N 4.1 billion for the first half of 2022, which ended June 30. The Managing Director/Chief Executive Officer, Universal Insurance Plc, Dr Benedict Ujoatuonu, stated this at the inauguration of the newly elected executive of the National Association of Insurance and Pension […]

Italian sports car maker Lamborghini has already pre-sold the entire production run to early 2024, its boss told AFP on Tuesday, with luxury goods seemingly unaffected by global economic uncertainty. The Volkswagen subsidiary is enjoying “high demand” and has an order book covering the next 18 months, CEO Stephan Winkelmann said. Wealthy customers are flocking […]