The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reopened the 2022/23 mini-bid round and extended deadlines for the 2024 licencing round, with new attractive fiscal terms approved by President Bola Tinubu. This was stated in the NUPRC’s update and clarity on the 2022/2023 and 2024 licencing rounds seen by newsmen […]
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Champion Breweries announces completion of 86.5% stake acquisition by EnjoyCorp Limited
The Board of Champion Breweries Plc has announced the completion of the acquisition of an 86.5% stake in the company by EnjoyCorp Limited. This information was disclosed in a company notice to the Nigerian Exchange Limited and the investing public. The acquisition was executed through the purchase of 100% shareholding […]
Report forecast $5.41 billion growth in global marine insurance market by 2028
The global marine insurance market size is estimated to grow by $5.41 billion between 2024 and 2028, according to Technavio market research report. The market is estimated to grow at a compound annual growth rate (CAGR) of about 3.32% during the forecast period. According to the report, the use of […]
Investing in Davido coin highly risky -SEC
The Securities and Exchange Commission (SEC) has warned that investing in meme coins, including $Davido, is highly risky and should be done with a full understanding of the associated risk. The SEC stated this in a statement made available to the newsmen. According to the Commission in a Circular dated […]
Africa loses $15 billion annually to climate change despite low emissions-AfDB
President of the African Development Bank (AfDB), Dr. Akinwumi Adesina has said that Africa suffers an annual loss of between $7 billion and $15 billion due to climate change. He made this statement during an interview with the British Broadcasting Corporation (BBC). Despite contributing only 3% of global emissions, Africa […]
Money lenders commend FCCPC for tackling unethical practices in digital lending
The Money Lenders Association has lauded the Federal Competition and Consumer Protection Commission (FCCPC) for its ongoing efforts to regulate the digital lending sector in Nigeria, describing it as a positive development. The Chairman of the Association, Mr. Gbemi Adelekan, in an interview highlighted that the FCCPC’s actions have contributed […]
Poultry farmers attributes feed costs for steep egg price increase
The Poultry Association of Nigeria (PAN) has attributed the continuous rise in egg prices to low production and high feed costs. PAN Lagos State Chairman, Mr. Mojeed Iyiola, along with other industry stakeholders, discussed this issue in separate interviews in Lagos. According to them, the price of eggs has skyrocketed, […]
Airtel Africa and Network International collaborate to enhance payment processing
Airtel Africa, a telecom and mobile money services company, has partnered with Network International, a facilitator of digital commerce in the Middle East and Africa, to serve as its payment processor. This announcement was made in a statement by Mr. Ian Ferrao, the Group Chief Executive Officer of Airtel Money, […]
Tolaram to acquire Diageo’s 58.02% shareholding in Guinness Nigeria
Tolaram Africa will acquire Diageo’s 58.02% shareholding in Guinness Nigeria, and enter into long-term license and royalty agreements for the continued production of the Guinness brand and its locally manufactured Diageo ready-to-drink and mainstream spirits brands. This was contained in the company’s notice to the Nigerian Exchange Limited (NGX) and […]
SEC approves Nigeria’s first naira-denominated private debt fund
The Securities and Exchange Commission (SEC) has approved the FCMB-TLG Private Debt Fund, Nigeria’s first Naira-denominated Private Debt Fund. The group in a statement said the FCMB-TLG Private Debt Fund targets Qualified Institutional Investors (QIIs) and high-net-worth individuals (HNIs). Established in May 2024 and sponsored and managed by FCMB […]