Business

The Federal High Court sitting in Lagos has adjourned sine die (indefinitely), the proceedings in the case of an alleged $225.8m debt owed First Bank Nig. Ltd & FBN Quest Trustees Ltd by an oil and gas company firm, General Hydrocarbons Limited (GHL).Justice Deinde Dipeolu adjourned indefinitely to await the outcome of the appeal filed

Benin Republic and Togo owe Nigeria $8.84m for the electricity consumed in the fourth quarter of 2024. The Nigerian Electricity Regulatory Commission revealed this in a report highlighting the remittances made by bilateral customers (domestic and international) and special customers for invoices issued in 2024/Q4 by the Market Operator. According to the report, the six

The Nigerian Liquefied Natural Gas Limited has said it is committed to working closely with its stakeholders to improve operational efficiency in its domestic Liquefied Petroleum Gas (DLPG) supply in Nigeria.At an engagement session recently with stakeholders in Lagos, NLNG highlighted its plans to enhance engagement and improve operational efficiency of its LPG supply through

Meta, in collaboration with Data Science Africa, has announced the Llama Impact Grant, a new initiative aimed at supporting startups and researchers in Sub-Saharan Africa.The grant is part of Meta’s global Llama Impact Grants program and seeks to fund innovative projects leveraging Llama, Meta’s open-source large language model, to develop solutions tailored to the region’s

Asian markets climbed today on hopes that China will announce a huge stimulus package that will help offset US President Donald Trump’s looming tariffs against Chinese goods. Investors were also watching for any last-ditch deals to ward off the levies hitting Mexico, Canada and China due to come into force on Tuesday. Trump has confirmed

The Federal Government is set to secure six new loans totalling $2.23bn from the World Bank in 2025 as the international financial institution continues to support the country’s economic and structural reforms. Data from the World Bank’s official website indicates that this will bring Nigeria’s total approved loans to $9.25bn over three years, reflecting a

EU chief, Ursula von der Leyen today,announced a push to channel 200 billion euros in public and private investments into Europe’s nascent artificial intelligence industry.“We aim to mobilise a total of 200 billion euros for AI investments in Europe,” the European Commission president told a Paris AI summit, saying the EU would contribute 50 billion

President Bola Tinubu has raised the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenues generated by key government agencies.The President conveyed the budget adjustment in separate letters sent to both the Senate and the House of Representatives, which were read during plenary today by the Senate President, Godswill Akpabio.According to President

The Nigeria Extractive Industries Transparency Initiative (NEITI) has stated that Nigeria generated over 831.14 billion dollars in revenue from the oil and gas sector between 1999 and 2023.NEITI’s Executive Secretary, Ogbonnaya Orji, stated this when he appeared before the Senate Committee on Public Accounts. He also stated that the country requires $20 billion annually for

The Central Bank of Nigeria (CBN) has announced the waiver of the 2025 non-refundable annual license renewal fee for Bureau De Change (BDC) operators.In a circular dated January 24, 2025, signed by John S. Onojah, acting director of the financial policy and regulation department, the apex bank said the move aimed to ease the operators’