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Business · PM News ·Reps move to establish 50-year national economic plan for Nigeria
The Nigerian House of Representatives has commenced the process of establishing a fifty-year national economic plan for the country. This legislative move seeks to create a long-term development framework to guide Nigeria’s economic growth and policy consistency over the next five decades, addressing concerns regarding short-term planning cycles.
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Business · BusinessDay ·Cutix rewards distributors with car, other items, certificates
Cutix PLC has presented rewards to its distributors, including a vehicle, various gift items, and certificates of recognition. The Nigerian cable manufacturer issued these incentives to acknowledge the contributions and performance of its partners within the distribution network during a recent corporate event.
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Business · Leadership News ·
Group Threatens To Sue Firm Over Sand-mining, Dredging
An unidentified group has threatened legal action against a company over its sand-mining and dredging activities. The potential lawsuit focuses on the environmental or regulatory implications of these operations, reflecting ongoing tensions between local stakeholders and industrial firms regarding the management of natural resources and land usage.
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Business · Vanguard ·Trump warns Iran blockade could last months, sending oil prices soaring
Donald Trump has warned that the blockade against Iran could persist for several months, which has triggered a significant increase in international oil prices. This development highlights ongoing geopolitical tensions and their immediate impact on global energy markets as investors react to the prospect of prolonged supply disruptions.
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Business · BusinessDay ·Brent oil rises to $123 on report US considering military options to break Iran deadlock
Brent crude oil prices have climbed to $123 per barrel following reports that the United States government is weighing military alternatives to resolve its current deadlock with Iran. This development comes as geopolitical tensions influence global energy markets, heightening concerns over potential disruptions to oil supplies from the Middle East region.
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Business · Leadership News ·
Petrol Prices To Rise As Dangote Refinery Raises Gantry Rate By N75
Petrol prices are expected to increase across Nigeria following an adjustment by the Dangote Refinery. The facility has reportedly raised its gantry rate by N75, a move that is likely to impact retail costs for consumers as marketers adjust to the new pricing structure at the terminal.
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Business · Leadership News ·
BUA Foods Net Profit Rises By 14% To N142bn In Q1
BUA Foods recorded a 14 percent increase in its net profit, reaching 142 billion naira during the first quarter of the year. This growth reflects the company’s financial performance within the Nigerian food industry for the period under review. The results indicate a significant rise compared to previous earnings as the firm maintains its market position.
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Business · Leadership News ·
NGX Capitalisation Hits N150trn As Investors Gain N5.55trn In 1 Day
The Nigerian Exchange market capitalization has reached a milestone of N150 trillion following a significant single-day gain of N5.55 trillion for investors. This surge reflects a positive performance in the domestic equities market, as trading activities drive the total value of listed stocks to record levels during the session.
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Business · Leadership News ·
NNPCL Probe: Kyari, Ajia, Wunti Reach Out to Senate Panel
Top executives of the Nigerian National Petroleum Company Limited, including Mele Kyari, Umar Ajiya, and Bala Wunti, have contacted the Senate committee investigating the national oil firm. The communication follows a legislative probe into various operational activities within the organization to ensure transparency and accountability in the energy sector.
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Business · Leadership News ·
Federal Govt, Germany Launch $2.2m Project To Support Nigeria’s Soil Health
The Nigerian Federal Government and Germany have partnered to launch a $2.2 million project dedicated to enhancing soil health within Nigeria. The initiative aims to improve agricultural productivity and promote sustainable land management through technical cooperation and financial support from the German government to strengthen the nation's food security infrastructure.
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Business · Leadership News ·
Keyamo Named Among IATA’s African Top Aviators
Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has been recognized by the International Air Transport Association as one of the leading figures in Africa's aviation industry. The inclusion highlights his ongoing efforts and leadership in driving policy reforms and growth within the continent's air transport sector.
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Business · Daily Post ·How Zedcrest Securities helps investors move faster, maximise portfolio value
Zedcrest Securities offers specialized financial services designed to assist investors in accelerating transaction processes and maximizing the value of their portfolios. The investment firm utilizes strategic approaches to help clients improve financial returns and navigate market opportunities more efficiently through its various securities and wealth management offerings.
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Business · BusinessDay ·Wema Bank earnings rise 76% as loan growth boost interest income
Wema Bank has recorded a 76 percent increase in its earnings, driven primarily by a rise in interest income. This growth is attributed to significant expansion in the bank's loan portfolio, reflecting improved operational performance within the specified financial period.
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Business · BusinessDay ·Nigeria’s cocoa manufacturer reports first profit in nine years
A Nigerian cocoa manufacturing company has recorded a profit for the first time in nine years. This financial milestone marks a significant turnaround for the firm, which had previously faced a long streak of annual losses. The development indicates a potential shift in the performance of the domestic cocoa processing industry.
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Business · The Punch ·Dubai eases visa rules for single-property buyers
Authorities in Dubai have relaxed visa requirements for international investors purchasing a single property within the emirate. The adjustment aims to simplify the residency process for individual real estate buyers, potentially increasing foreign investment and participation in the local property market by reducing previous administrative constraints.
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Business · Nairametrics ·
Julius Berger grows Q1 profit to N9.8 billion as ‘civil works’ dominate revenue
Julius Berger recorded a first-quarter profit of N9.8 billion, driven primarily by its civil works division. The Nigerian construction firm experienced significant growth during the period as infrastructure projects remained the dominant contributor to its overall revenue stream.
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Business · Channels TV ·Samsung Electronics Posts Record Quarterly Profit On AI Boom
Samsung Electronics has reported a record quarterly profit, attributing the significant financial growth to the global surge in artificial intelligence technology. The company benefited from increased demand for high-end memory chips required to power AI applications, marking a substantial recovery in its semiconductor division and overall market performance.
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Business · Nairametrics ·
CPPE warns inflation erodes wages, deepens Nigeria’s real income crisis
The Center for the Promotion of Private Enterprise has cautioned that persistent inflation in Nigeria is diminishing the value of workers' wages. This trend contributes to a widening real income crisis across the country, as rising costs for goods and services outpace current earning levels for many citizens.
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Business · Leadership News ·
Cashew Industry Needs Sector-savvy Leadership – Adesokan
Adesokan has emphasized the importance of appointing experienced professionals to lead Nigeria's cashew sector. This call aims to improve industry governance and drive growth by ensuring that those at the helm possess deep technical knowledge and strategic understanding of the cashew value chain to enhance national economic output.
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Business · Vanguard ·Egbin Power Plant shuts down after contractor dies during underwater repairs
Operations at the Egbin Power Plant have been halted following a fatal accident involving a contractor during underwater repair work. The shutdown was implemented to address the situation and ensure safety at the facility. The plant remains offline as authorities manage the aftermath of the incident and conduct necessary reviews.
Nigerian News
Headlines from across Nigeria, summarised and updated continuously. Tap any headline to read the full story on the source site.