Business News

Friday, 23 May 2025 04:30

FG earns 52 kobo from every N1 made by Dangote Cement – Aliko Dangote

Aliko Dangote, Chairman of the Dangote Group, has stated that the Federal Government earns 52 kobo in taxes from every N1 generated through the production and sale of Dangote Cement. He made this disclosure during the 2025 Taraba International Investment Summit, held under the theme: “Unlocking Taraba’s Investment Potentials: Advancing Agriculture, Energy, Mining, and Industrialisation for Sustainable Growth and Development.” Dangote emphasized the importance of creating an enabling environment for businesses, noting that both private and public investments benefit the government through tax revenues. “It may surprise you to learn that the Federal Government—not even the states—earns more from our…

Thursday, 22 May 2025 04:42

Elon Musk, in this interview with Bloomberg, discusses wide range of hot botton issues. Enjoy

Elon Musk needs little introduction. His acumen has transformed the business of electric vehicles and getting to space, and he has more recently been at the right hand of US President Donald Trump. Whether at campaign rallies, on foreign trips, in the Oval Office or cutting federal government spending through his Department of Government Efficiency, Musk’s influence is everywhere. But the entrepreneur’s iconoclasm has also made him a magnet for controversy. Tesla has experienced a pronounced backlash — you might have seen the stickers: “I bought this before we knew Elon was crazy” — and Bill Gates recently accused Musk…

Tuesday, 20 May 2025 04:40

Marketers import N436bn petrol in 9 days as battle with Dangote Refinery intensifies

A fresh wave of Premium Motor Spirit (petrol) importation into the country has made the row between oil marketers and the Dangote Petroleum Refinery to linger, amid signs of deepening tensions in Nigeria’s downstream oil sector. This row deepened after independent oil marketers resumed large-scale importation of petrol, as fresh data shows that over 496.17 million litres of petrol were brought into the country within nine days. Two weeks ago, the President of Dangote Group, Aliko Dangote, declared that his $20bn refinery was still “fighting for survival”. The business mogul’s remarks were triggered by the continued importation of petrol and…

Tuesday, 20 May 2025 04:39

Nigerian stock market gains N613bn ahead of Central Bank's policy meeting

The Nigerian equities market recorded a robust performance last week, with investors gaining N613 billion as positive sentiment drove trading activities ahead of the Central Bank of Nigeria's (CBN) crucial Monetary Policy Committee (MPC) meeting. Market Performance Highlights The Nigerian Exchange Limited (NGX) closed the week on a strong note, with the all-share index (ASI) appreciating by 0.9 percent to 109,710.37 points. Market capitalization rose significantly by N613.99 billion to close at N68.95 trillion, pushing the year-to-date return on investment to 6.59 percent. This positive momentum was fueled by strong Q1 2025 corporate earnings reports and easing inflation, which declined…

Tuesday, 20 May 2025 04:32

Within 5 years, '70% of skills used in most jobs will change,’ LinkedIn report says—how you can keep up

AI will upend much of how we function in the workplace — at least according to new LinkedIn data. "By 2030, 70% of skills used in most jobs will change," says Andrew Seaman, LinkedIn news editor at large for jobs and career development. LinkedIn determined which skills are used in most jobs by combining the skills companies are currently listing in job descriptions and skills individuals are listing in their profiles. They then made their calculations considering historical shifts in skills and projections around AI-replicable skills. Seaman doesn't think these skills will be replaced altogether. Instead, they'll evolve. And other…

Monday, 19 May 2025 04:37

Why we need to embrace the 'S' word to drive business success

Sudhir Chaturvedi When did the word "sales" become taboo? Regardless of whether you're offering a product or service, the essence of every business is rooted in effective sales. Yet, we often shy away from the term, opting for titles like business development lead, client advisor, or account manager. Why does the word "salesperson" evoke such discomfort? Growth Solves All Problems In business, growth creates a virtuous cycle. Sales drive initial growth, creating headroom for more investments. These additional investments can then fuel expansion into new markets or innovations, sparking further growth. Success begets success, making the company more attractive not…

Saturday, 17 May 2025 04:38

Nigeria's major producer halts oil feeds into key pipeline for crude exports after burst

Nigerian oil firm Renaissance Energy has halted production on one line feeding into the Trans Niger oil pipeline, a major oil artery transporting crude from onshore oilfields to the Bonny export terminal, following an operational incident, it said on Friday. An environmental rights group said on Thursday that the pipeline burst on May 6 and spilled oil into the local B-Dere community in Ogoniland, the second such incident affecting the pipeline in two months. The halted pipeline goes through B-Dere community to join the Trans Niger Pipeline. Nigerian oil consortium Renaissance Group, which now owns Shell's former onshore subsidiary that…

Thursday, 15 May 2025 04:32

Nigerian Stock Market rebounds as market cap rises by N314bn

The Nigerian Exchange Limited (NGX) reversed its recent downward trend yesterday, closing on a positive note as market capitalization increased by N314 billion amid strategic buying in Beta Glass and 39 other stocks. The All-Share Index (ASI) gained 501.14 points, representing a growth of 0.46 percent to close at 108,762.61 points. Market capitalization rose correspondingly to close at N68.357 trillion. The market's upward movement was driven by gains in medium and large capitalized stocks, including Beta Glass, Oando, Nigerian Breweries, Transnational Corporation (Transcorp), and Industrial and Medical Gases. Market Analysts Project Continued Growth Market analysts remain optimistic about the exchange's…

Thursday, 15 May 2025 04:24

Decision making rule that helps you focus, make smarter choices, and think like a CEO

Marcel Schwantes Having coached executive leaders for two decades, I know they are bombarded with decisions—big and small—every day. Do I take this call? Launch this product? Respond to that email? Hire this person? It’s easy to fall into reactive mode, making snap decisions under pressure. Urgency has its place, but rushing to meet other people’s expectations rarely leads to clarity or long-term success. The best leaders learn to pause, step back, and focus on what truly matters—for them, their teams, and their business—before they act. One of the simplest and most effective tools I’ve come across is the 10-10-10…

Tuesday, 13 May 2025 04:41

NGX records significant growth in Q1 2025 trading activity

The Nigerian Exchange Limited (NGX) reported a remarkable 44.8% surge in equity transactions for Q1 2025, with total trading volume reaching N2.23 trillion compared to N1.54 trillion in the same period last year. According to NGX's 'Domestic & Foreign Portfolio Investment Report' released Monday, foreign investors accounted for N814.05 billion in transactions, while domestic investors contributed N1.41 trillion during the quarter. March 2025 saw particularly strong performance with total transactions jumping 118.95% to N1.16 trillion from February's N509.47 billion. This represents a 107.14% increase compared to March 2024 figures. Notably, foreign investors outperformed domestic players by approximately 26% in March,…

More...

Monday, 12 May 2025 04:39

5 leadership strategies to help teams thrive amid uncertainty

Mark C. Crowley Uncertainty has become a defining feature of life today, a reality that challenges workplace leaders to adapt rapidly, make decisions with limited information, and foster stability amid constant and sometimes highly erratic change. At the same time, this uncertainty directly affects employees, making it incumbent upon leaders to provide the support and direction their teams need to successfully navigate an unpredictable world with both resilience and clarity. It goes without saying that the role of a leader has grown increasingly more complex, requiring us to instill stability, foster adaptability, and maintain focus without being overwhelmed by the…

Sunday, 11 May 2025 03:16

Petroleum marketers to Dangote: We’re no cabal; we only have vested interest just like you

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) says no cabal in the midstream and downstream sector, just individuals with vested interests. On May 1, Aliko Dangote, president of the Dangote Group, said he was still fightingcabals for the survival of his $20 billion refinery — subsequently describing “cabals” as some major oil marketers and traders. Speaking in an interview with TVC on Friday, Olufemi Adewole, executive secretary of DAPPMAN, described the use of “cabals” by Dangote as being “negative” and “subversive”. “There is no cabal in the midstream and downstream operations as far as I am concerned,…

Sunday, 11 May 2025 03:16

Nigeria's manufacturers face losses amid FX scarcity and depreciation

The Manufacturers Association of Nigeria (MAN) has reported significant financial losses due to foreign exchange scarcity and depreciation. Kamoru Yusuf, Chairman of MAN's Basic Metals, Iron and Steel Fabricated Metal Sectoral Group and National Council member, revealed this during a visit by the Armed Forces Staff and Command College Senior Course 47 to his KAM Holding Limited facility in Ilorin, Kwara State. Yusuf explained that manufacturers are unable to remit payments for previously imported raw materials that have already been processed into finished goods and sold when exchange rates were considerably lower than current levels. Speaking on his behalf, KAM…

Saturday, 10 May 2025 04:35

Marketers import N2.4tn petrol as competition with Dangote Refinery intensifies

Tensions have escalated between major oil marketers and the Dangote petroleum refinery as they compete for control of Nigeria's downstream oil sector. Aliko Dangote recently stated his $20bn refinery is "fighting for survival" against what he describes as sabotage by oil sector cabals resisting local refining. Despite this, he expressed confidence in eventual success. Between March 1 and May 9, 2025, marketers imported 2.57 billion liters of petrol valued at approximately N2.42tn, choosing foreign suppliers over the Dangote facility. March saw imports of 755.7 million liters, April surged to 1.47 billion liters, and the first 10 days of May brought…

Page 3 of 147

Business News

More...

Search

Most Read

Editorial

News

Business

Politics

Opinion

Features

Strangely

Crime

Wars

SCIENCE & TECH

SPECIAL REPORTS

Sports

VIDEOS