$700m Delta Steel Company sold for $30m - BPE DGThe Director General of the Bureau for Public Enterprises, Ayodeji Gbeleyi, on Friday, revealed that Delta Steel Company, valued at over $700m, was sold for $30m. Gbeleyi statRead More
Business Gists
Billionaire Femi Otedola’s brother, Rotimi sells N4.6 billion Geregu shares Olurotimi Otedola, the founder of the Afrinero music band and the brother of Nigerian billionaire Femi Otedola, has sold shares in Geregu Power PlcRead More
Olugbemi. Adeyinka Ogunleye
Is there a fight in the family? or why sell when the company is doing great at the moment?
Coca-Cola To Process 13,000MT Plastic Bottles Yearly At New Packaging Collection HubCoca-Cola has opened a new Packaging Collection Hub in Lagos, Nigeria, with the capacity to process up to 13,000 metric tons of plastic bottles Read More
Oando revenue hits N4.1tnOando Plc reported a 45 per cent increase in revenue to N4.1tn for the financial year ended December 31, 2024, compared to N2.9 trillion recorded in the previous year.The company’s unaudited financial stRead More
Nigeria’s Non-Oil Exports Hit $5.46 Billion In 2024 - NEPC The Nigerian Export Promotion Council has announced a remarkable 20.79 per cent increase in the value of the country’s non-oil exports, reaching a total of $5.456bnRead More
Bento CEO’s resignation leaves investors in the dark amid EFCC, LIRS probeInvestors in Nigerian HR-tech startup Bento Africa were shocked at CEO Ebun Okubanjo‘s abrupt resignation, relinquishing his stake in the company without Read More
Bento CEO resigns, amid EFCC, LIRS probe; gives up equityEbun Okubanjo, CEO of Bento Africa, a Nigerian payroll and human resource management platform, has resigned amidst allegations of failing to remit taxes and pensions on beRead More
Guinness Nigeria reports N20 billion profit, 6 months after Tolaram takeoverGuinness Nigeria Plc released its second-quarter earnings, revealing a pre-tax profit of N20.1 billion for the period ending December 31, 2024. This marRead More
First Banks former CEO Onasanya refutes role in alleged N12 billion fraudA one-time managing director of First Bank of Nigeria Plc (now FBN Holdings) Bisi Onasanya has denied playing a role in the alleged N12.3 billion advanced fRead More
The Organisation of the Petroleum Exporting Countries (OPEC) says the production of petroleum products by the Dangote Petroleum Refinery has reduced the importation of refined products from Europe.In its Monthly Oil Market ReporRead More
First City Monument Bank (FCMB) has announced the appointment of Felicia Obozuwa as its Executive Director, Corporate Services and Service Management.The appointment of Obozuwa followed approval from the Central Bank of Nigeria Read More
First Bank, Otedola Vs Obaigbena: Oil Vessel Owned By General Hydrocarbons Seized «First Bank is battling Mr Obaigbena over some credit facilities, which the bank claimed has missed several repayment deadlines.The legal battle bRead More
Wale Tinubus Bold Path for OandoLast year, Oando Plc celebrated 30 years of phenomenal growth in the Nigerian oil industry, setting the stage for its future. As the company is set to unveil its plan for the next journey, analystRead More
Nigeria’s Largest Palm Oil Maker To Raise Record ₦100 Billion BondPresco Plc, Nigeria’s biggest palm oil maker, is set to raise N100 billion in Series 1 of its N150 billion bond programme. This would mark the largest corporate Read More
NDDC Announces ₦30 Billion Fund For Young Entrepreneurs In Niger Delta The Niger Delta Development Commission (NDDC) has announced a N30 billion fund aimed at fostering young entrepreneurship in the Niger Delta region.In aRead More
Nigeria’s Pharma Boom: Positioning In A New Era Of Growth IntroductionNigeria’s pharmaceutical industry is at the cusp of a major transformation, fuelled by rising healthcare demand, innovative local players, and emergent govRead More
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