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Oil theft: Nigeria loses $2bn in eight months
According to an ad hoc committee established by the Senate to investigate oil theft and the resulting economic damage, Nigeria lost $2 billion, or N1.3 trillion, to oil theft between January and August of this year. On April 14, 2022, the Senate...
Business
UBA plans Christmas reward for customers
United Bank for Africa Plc, Africa's Global Bank, has announced that it will distribute N22.5 million to its loyal customers during the Christmas season. The N22.5m will be distributed in the bank's upcoming Super Savers draw on December 16,...
Business
Cooking gas price increases by 0.21% in October
From N4,474.48 in September to N4,483.75 in October, the average price of 5kg cooking gas increased by 0.21 percent. The price increase is included in the National Bureau of Statistics' 'Cooking Gas Price Watch' for October 2022, which was...
Business
Telcos protest as MTN requests second 5G license
Telecommunications companies have objected to MTN Nigeria's request to participate in the upcoming 5G spectrum auction. According to the operators, MTN's intention to obtain additional Fifth-Generation spectrum in the upcoming 5G-spectrum auction...
Business
Parallex Bank gets recognition
At the BusinessDay Banks and Other Financial Institutions Awards held in Lagos on Saturday, Parallex Bank was named Challenger Bank of the Year 2022. Mr Olufemi Bakre, Managing Director and Chief Executive Officer of Parallex Bank, described the...
Business
Bua Foods Q3 revenue rises to N289bn
Bua Foods reported a 20.2 percent increase in revenue to N289.8 billion at the end of the first nine months of 2022. Despite the economic challenges, the fast-moving consumer goods company's revenue increased from N221.7bn in the same period of...
Business
Osinbajo to speak at Nigerian investors’ conference
The Vice-President, Yemi Osinbajo, will be the keynote speaker at the 10th annual Nigerian Investors Conference, which will examine the country's capital market and investment environment. According to a statement, Osinbajo will deliver the...
Business
Petrol stock dips by 5.48m litres, queues persist
According to industry data released on Tuesday, the Nigerian National Petroleum Company Limited's stock of Premium Motor Spirit, also known as petrol, fell by 5,481,239 litres. Despite a minor drop in PMS stock, long lines for petrol continued in...
Business