Business Archives - Page 18 of 25

FG Issues Deadlines to Chinese Road Contractors Over Delays and Substandard Work

February 7, 2026

The Federal Government has issued stern warnings and strict deadlines to China Harbour Engineering Company and its sister firm, China Harbour Operation and Maintenance Company, over delays and substandard work on several federal road contracts. The directives followed a high‑level meeting chaired by the Minister of Works, Senator David Umahi, at the Ministry’s headquarters in...

Lagos Understudies NERC to Strengthen Power Regulation in State

February 7, 2026

The Lagos State Electricity Regulatory Commission has started a process of understudying the Nigerian Electricity Regulatory Commission to strengthen electricity market regulation in Lagos State. The development was disclosed in a statement released by the Nigerian Electricity Regulatory Commission on February 6, 2026. The announcement followed a courtesy visit by board members of the Lagos...

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Transcorp Power Reports 30% Revenue Growth to N398bn in 2025

February 6, 2026

Transcorp Power Plc has reported a 30 percent year‑on‑year increase in revenue to N398.27bn for the financial year ended December 31, 2025, compared with N305.94bn in 2024. The audited results were released by the power generation company, a subsidiary of Transnational Corporation Plc, on February 6, 2026. The performance reflects growth across key financial indicators...

Coastal Logistics Could Push Petrol Prices Close to N1,000 Per Litre in Nigeria

February 6, 2026

Dangote Petroleum Refinery has warned that continued reliance on coastal delivery of petroleum products could push petrol prices close to N1,000 per litre in Nigeria. In a statement on February 5, 2026, the refinery outlined its concerns about the cost implications of coastal logistics for petrol distribution. Dangote emphasised the importance of efficient evacuation methods...

Tax Reforms May Reshape Nigeria’s Real Estate Sector, Say Stakeholders

February 6, 2026

Experts in Nigeria’s real estate sector have said that federal tax reforms may change dynamics in the industry by affecting rent costs, property prices, and investment patterns. The remarks were made on February 6, 2026, in Lagos at the 10th AlphaCrux Real Estate Outlook Conference. The event focused on industry resilience in a global economic...

Adedeji Says Nigeria Must Move Beyond Raw Material Exports to Broaden Economic Base

February 6, 2026

Dr. Zacch Adedeji, Chairman of the Nigeria Revenue Service (NRS), has said that Nigeria’s reliance on exporting raw materials and a narrow product base limits the country’s economic growth and integration into global value chains. His remarks were made during the maiden Distinguished Personality Lecture of the Faculty of Administration at Obafemi Awolowo University, Ile-Ife,...

Business

Shell Reports £17.84bn Year‑End Profit Despite Global Market Slump

February 5, 2026

Shell plc, the London‑listed oil and gas company, reported a year‑end profit of £17.84 billion ($18.5 billion) for the 2025 financial year, the company said in its full‑year financial results, maintaining profitability despite a downturn in global oil prices and broader market challenges. The results were published as energy markets experienced volatility and price declines....

Google Parent Alphabet’s Annual Revenue Tops $400bn for First Time

February 5, 2026

Alphabet Inc., the parent company of Google, reported annual revenue exceeding $400 billion for the first time in its history, the company said in its 2025 full‑year earnings report. This milestone reflects sustained growth across its digital advertising, cloud computing and services businesses. According to the financial results, Alphabet’s total annual revenue for 2025 surpassed...

Dangote Refinery Denies Importing Finished Petroleum Products, Calls Claims False and Misleading

February 5, 2026

Dangote Petroleum Refinery & Petrochemicals (DPRP) has denied reports suggesting that it imports finished petroleum products, describing the allegations as false and misleading, officials said at a media briefing. The clarification was issued during a press conference at the refinery in Lekki, Lagos. DPRP Chief Executive Officer and Managing Director, David Bird, said the refinery...

Net Forex Inflow to Nigeria Falls 18.3% to $48.1bn in Nine Months, CBN Data Shows

February 5, 2026

Net foreign exchange (FX) inflow into the Nigerian economy decreased by 18.3 per cent, falling to $48.1 billion in the nine months ended September 2025, from $58.8 billion in the corresponding period of 2024, data from the Central Bank of Nigeria (CBN) show. The decline stemmed from a 15 per cent year‑on‑year drop in total...

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Latest News

FG Issues Deadlines to Chinese Road Contractors Over Delays and Substandard Work

Lagos Understudies NERC to Strengthen Power Regulation in State

Transcorp Power Reports 30% Revenue Growth to N398bn in 2025

Coastal Logistics Could Push Petrol Prices Close to N1,000 Per Litre in Nigeria

Tax Reforms May Reshape Nigeria’s Real Estate Sector, Say Stakeholders

Adedeji Says Nigeria Must Move Beyond Raw Material Exports to Broaden Economic Base

Shell Reports £17.84bn Year‑End Profit Despite Global Market Slump

Dangote Refinery Denies Importing Finished Petroleum Products, Calls Claims False and Misleading

Net Forex Inflow to Nigeria Falls 18.3% to $48.1bn in Nine Months, CBN Data Shows

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