The Federal Government said the introduction of the sale of crude oil in Naira was a strategic move to enhance operational efficiency of local refineries by reducing foreign exchange risks and transaction costs. President Bola Tinubu made this known on Tuesday, while officially declaring the eight edition of the Nigeria International Energy Summit (NIES 2025)…
Transcorp Power Plc has declared a revenue growth of 115 per cent in 2024, amounting to N305.9 billion and an operating profit after tax of N80.01 billion. Mr Emmanuel Nnorom, Chairman, Board of Directors, Transcorp Power Plc disclosed this on Tuesday in Abuja, at the companies’ Annual General Meeting (AGM). Nnorom said that the financial…
Nigeria’s fastest growing non-interest banking services provider, TAJBank Limited, has consolidated its frontline position by winning an award at the just concluded Islamic Finance News (IFN) Awards in Dubai. According to a statement by its Managing Director, Hamid Joda, the bank won the “Best Islamic Bank in Nigeria” award through a global survey conducted by…
Microsoft on Wednesday announced a one million dollars investment to equip one million Nigerians with Artificial Intelligence (AI) skills. The Managing Director, Microsoft Nigeria and Ghana, Ms Ola Williams, said at a Microsoft AI Tour media briefing in Lagos that the AI skill training would reach one million Nigerians by 2026. Williams said that the…
Residents of the Federal Capital Territory (FCT) have commended Minister of the FCT, Nyesome Wike for opening the newly constructed Karmo District Market for business. Some of the residents, especially those living around the Karmo district, including traders, spoke with the News Agency of Nigeria (NAN) on the sideline of the official commissioning of the…
The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has sealed two filling stations and a gas plant in Sagamu, Ogun, over alleged infractions. The NMDPRA Coordinator in Ogun and Surveillance team lead, Mr Akinyemi Atilola, who coordinated the exercise on Wednesday, said that the action was in order to safeguard the lives and properties…
Northwest Governors, led by Katsina State Governor and Chairman of the Northwest Governors’ Forum, Malam Dikko Umaru Radda, have held a crucial meeting with senior officials of the United Nations and the African Development Bank (AfDB) to advance development initiatives in the region. The meeting, held in Katsina, was attended by Governors Uba Sani (Kaduna),…
As Benue marked 49 years of its existence, Gov. Hyacinth Alia said his priority is to take the state to the height of economic prosperity and massive infrastructural development. Alia said this in a press statement signed by his Chief Press Secretary, Mr Tersoo Kula, and made available to newsmen on Monday in Makurdi. The…
The US Supreme Court on Friday will hear TikTok’s appeal of a law that would force its Chinese owner to sell the video-sharing platform or shut it down in the United States. Here’s a closer look at the rise of the platform as it awaits its fate: Born in China TikTok’s meteoric rise from a…
The United States and Nigeria have signed a memorandum of understanding (MoU) to repatriate $53 million in funds linked to former Minister of Petroleum Resources, Diezani Alison-Madueke. The agreement was formalized in Abuja, marking another milestone in efforts to recover stolen assets. The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN),…
