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Business

Experts, Manufacturers Urge FG to Prioritise Infrastructure in N55trn Budget for Sustainable Growth

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Experts, Manufacturers Urge FG to Prioritise Infrastructure in N55trn Budget for Sustainable Growth

Following the passage of the N55 trillion 2025 budget by the National Assembly, economic experts and manufacturers have called on the federal government to channel significant resources into infrastructure development to stimulate long-term economic growth. Their concern arises as the budget increased by N5 trillion, and stakeholders insist that its impact will largely depend on … Read more

Nestlé Beats Sales Forecasts but Faces Profit Margin Squeeze as CEO Pushes for Growth

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Nestlé Beats Sales Forecasts but Faces Profit Margin Squeeze as CEO Pushes for Growth

Nestlé, the world’s largest packaged food company, has once again proven its resilience by surpassing sales forecasts, delivering stronger-than-expected revenue growth in 2024. However, while the Swiss multinational has managed to stay ahead in a volatile market, it now faces a pressing challenge as profit margins are expected to shrink in 2025. With new CEO … Read more

MTN Nigeria Increases Data Plan Prices Following NCC’s 50% Telecom Tariff Hike Approval

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MTN Nigeria Increases Data Plan Prices Following NCC’s 50% Telecom Tariff Hike Approval

MTN Nigeria has officially increased its data plan prices, a move that follows the Nigerian Communications Commission’s (NCC) approval of a 50% hike in telecom service costs. This marks the first significant tariff adjustment in over a decade and is expected to reshape how Nigerians access mobile data services. The price adjustment, which took effect … Read more

Nigeria Can Achieve 2.4 Million Barrels Per Day with Deep-Water Expansion and Policy Reforms – Shell

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Nigeria Can Achieve 2.4 Million Barrels Per Day with Deep-Water Expansion and Policy Reforms – Shell

Nigeria’s deep-water oil and gas sector presents one of the most promising opportunities for achieving the country’s ambitious production target of over 2.4 million barrels per day, but this goal hinges on sustained policy reforms and an attractive investment climate. The Shell Nigeria Exploration and Production Company Ltd (SNEPCo) has reaffirmed its commitment to unlocking … Read more

Chevron to Slash 15-20% of Workforce by 2026 as Oil Giant Moves to Cut Costs and Boost Efficiency

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Chevron to Slash 15-20% of Workforce by 2026 as Oil Giant Moves to Cut Costs and Boost Efficiency

Chevron Corporation, one of the most prominent energy companies in the world, has announced a significant reduction in its workforce, with plans to cut 15 to 20 percent of its employees by the end of 2026. This move, which is part of a broader restructuring effort, is aimed at reducing operational costs, improving efficiency, and … Read more

Kenyan Shilling Holds Firm as African Currencies Struggle Against the U.S. Dollar

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Kenyan Shilling Holds Firm as African Currencies Struggle Against the U.S. Dollar

The Kenyan shilling remained steady against the U.S. dollar on Tuesday, holding firm at 128.90/129.40 per dollar—the same rate as the previous day. This stability has drawn attention from financial analysts, especially as many African currencies continue to struggle against the dollar amid economic uncertainties. Across the continent, major economies are experiencing significant currency depreciation, … Read more

Consumer Goods Sector in Nigeria Reaches N11.1bn Market Capitalisation, Driven by Beverages and Food Products Growth

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Consumer Goods Sector in Nigeria Reaches N11.1bn Market Capitalisation, Driven by Beverages and Food Products Growth

The Nigerian consumer goods sector has reached a remarkable milestone, with its total market capitalisation climbing to N11.1bn as of February 7, 2025. This achievement underscores the resilience and growth potential of the sector, especially as companies within the beverages and food products industries continue to experience notable performances. These two sub-sectors are currently driving … Read more

Delta receives highest Moody’s ratings in decades

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Delta receives highest Moody’s ratings in decades

Delta Air Lines has recently reached a remarkable achievement, with its credit rating being upgraded to the highest level it has seen in decades, according to Moody’s Ratings. This upgrade marks a significant milestone for the airline, underscoring the positive momentum Delta has generated in strengthening its financial position. It is also the third credit … Read more

Marketers Move to Curb Fuel Tanker Accidents

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Marketers Move to Curb Fuel Tanker Accidents

Stakeholders in Nigeria’s midstream and downstream petroleum sectors are taking strategic steps to curb the rising number of fuel tanker accidents, which have resulted in significant loss of lives and property. At a webinar organized on Thursday, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Independent Petroleum Marketers Association of Nigeria (IPMAN), Petroleum Products … Read more

NIMC Clears FIC for Identification Exercise

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NIMC Clears FIC for Identification Exercise

The National Identity Management Commission (NIMC) has granted approval to FIC Professionals Network Plc to participate in the World Bank-supported Identity for Development (ID4D) Ecosystem Enrolment Service in Nigeria. This was revealed in a statement signed by FIC’s Executive Director, Segun Shonubi, on Thursday. The ID4D Project is designed to establish secure and verifiable digital … Read more

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