The President of Dangote Industries Limited, Aliko Dangote, has been invited by President Brice Nguema of Gabon to invest in cement and fertiliser production in the country. According to a statement on Tuesday by the media office of Dangote Group, the billionaire was invited to explore investment opportunities in cement and fertiliser, at a time…
The Minister of State Petroleum Resources (oil) Heineken Lokpobiri, has met with the chairman and chief executive officer of Dangote Petroleum Refinery, Aliko Dangote, and the chief executive officer of Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, (NMDPRA) The meeting was held on Monday, July 21, to resolve ongoing issues surrounding the Dangote…
The 16th Emir of Kano, Muhammadu Sanusi II, has said that Alhaji Aliko Dangote should not be blamed for buying dollars at lower rates at the time he was building his refinery because that was the actual rate the apex bank was selling to everybody at that time. Sanusi, who commented on the issue through…
The President of the Manufacturers Association of Nigeria, MAN, Francis Meshioye, has said that the policies of the federal government in the last one year have made manufacturing businesses unattractive in Nigeria. Meshioye who stated this in an interview with Channels Television, noted that manufacturers are worse hit by fuel subsidy removal, Naira devaluation, recent…
The Central Bank of Nigeria has disclosed that it is targeting a $1 trillion economy by 2030 while re-stating its commitment to ensure economic stability. The governor of the apex bank, Olayemi Cardoso, gave this disclosure on Friday in Abuja while presenting the 2024 half-year report of activities of the bank to the Senate Committee…
The dollar to naira exchange rate reached N1,615 at Nigeria’s foreign exchange black market. Ashiru Dayyabu, a Bureau De Change operator in Wuse Zone 4, said that the dollar was sold at the rate of N1,600 to N1,615 on Wednesday. “We buy the dollar at N1590 and sell between N1600 and N1615,” he told DAILY…
Flutterwave has been named among the top 250 fintech companies in the world by CNBC in partnership with market research firm Statista. The World’s Top Fintech Companies 2024 report by the American business news channel includes companies across a variety of different market categories. Seven African firms made the list: Flutterwave (Nigeria/US) – Payments; Kuda…
The Central Bank of Nigeria has issued a notice of a Monetary Policy Meeting to decide on measures to tackle the country’s rising inflation and economic hardship. The apex bank in a notice released on its website on Tuesday said that July’s meeting is scheduled for Monday to Tuesday next week. This would be the…
Dangote Refinery has revealed plans to be listed on the Nigerian Exchange Limited before the end of March 2025. Aliko Dangote, the Chairman of Dangote Group disclosed this to journalists on Sunday. This comes as the company further delayed the commencement of fuel supply to August 2024 from its earlier July date. According to him,…
The Naira depreciated massively against the dollar in the foreign exchange market. FMDQ data showed that the Naira weakened significantly to N1561.98 against the dollar on Wednesday from N1532.58 traded on Tuesday. This represents an N29.4 against the dollar compared to the N1532.58 traded on Tuesday. Similarly, at the parallel foreign exchange market, the Naira…
