Business

Shell Denies Breach of Nigerian Content Law

The Shell Petroleum Development Company of Nigeria (SPDC) on Wednesday denied claims that it was in violation of Nigerian Content laws at the EA fields in Bayelsa State. The Ijaw Youth Congress (IYC) had on Monday alleged that SPDC had...

Tetfund Allocates N30bn For High-impact Projects in 18 Tertiary Institutions

The Tertiary Education Trust Fund (TETFund) has allocated N30 billion for disbursement to six universities, six polytechnics and six colleges of education under its 2023 Special High Impact intervention. The Executive Secretary of the fund, Sonny Echono, made this known...

Seplat Energy Reacts to Lawsuit as Nigerian Govt Alleges Immigration Breach

Seplat Energy has said that there is a court action initiated by the Nigerian government alleging a breach of immigration law by the company and some of its directors. “The suit is in relation to the immigration status of Mr....

AIICO Reaffirms Commitment Healthcare Development

AIICO Insurance Plc., has reaffirmed its commitment towards driving growth and advocacy in Nigeria’s healthcare sector in Nigeria, through its corporate social responsibility (CSR) channel The insurer, which reeled out its numerous interventions in the country’s healthcare sector, stressed that...

World Bank Chief Wants Nigeria Ease Trade Barriers, Diversify Economy

The World Bank has urged Nigeria to ease trade restrictions that block market development and diversify the economy by investing more in agriculture and other non-oil sectors. The Bank also sought improvement in basic infrastructure provision especially electricity and...

UBA Posts Profit Surge of 29% to N53.6bn in Q1 2023

Africa’s Global Bank, United Bank for Africa (UBA) Plc reported a profit surge of 29.1 per cent in the first quarter of 2023. The series of rate hikes by the Central Bank of Nigeria (CBN) helped strengthen interest income...

Relief as Operators Move to Halt Hike in Airfare, Others

Stakeholders in the Nigerian aviation industry have taken a step forward to stem the tide of unfair hikes in airfares, which is adversely affecting passengers in the country. Top on the list of anomalies to be addressed is the...

Fuel Subsidy Removal: $800m Palliative Injurious to Economy – Experts

Stakeholders and industry experts have raised the alarm over the $800 million World Bank facility secured by the Federal Government to cushion the effects of fuel subsidy removal. The Nigerian National Petroleum Corporation Limited (NNPCL) disclosed in January that it...

GTCO Profit Dips 3.3% to N169.2bn Amid High Impairment, Operating Costs

April 16, (THEWILL) - Guaranty Trust Holding Company (GTCO) recorded a drop in profit after tax of N169.2 billion in 2022 from N174.8 billion in the corresponding period, according to the lender’s audited earnings report issued on Friday. This represents...

Nigeria’s Inflation Rate Hits 22.04% In March

April 15, (THEWILL) - Nigeria’s annual inflation rate rose for the third straight month to 22.04 percent in March, from 21.91 percent in the previous month, the National Bureau of Statistics (NBS), said on Saturday. The NBS said the March...