Business

The cost of Automotive Gas Oil (AGO) popularly known as diesel has continued to hover around N990 and N1,100 despite the removal of Value Added Tax (VAT) on the product, oil marketers have said. Ripples Nigeria reports that the Federal Government had waved VAT on diesel for the next six months as part of a deal with organised labour to …

The Nigerian Exchange Limited (NGX), is collaborating with the Lagos Chamber of Commerce and Industry (LCCI) to further advance advocacy efforts, encouraging listings, and enhancing capacity development for both chamber members and the broader economy. The Chief Executive Officer, NGX, Temi Popoola, disclosed this during the Closing Gong Ceremony marking the 135th year Anniversary of LCCI on August 31, 2023. …

The naira exchanged for N740.38 to a dollar at the Investors and Exporters window on Friday. The Nigerian currency gained 2.93 percent compared to the N762.71 it exchanged for the dollar on Thursday. The open indicative rate closed at N775.17 to the dollar on Friday. READ ALSO: Naira to dollar exchange rate rises in CBN-backed official window, black market A …

In its bid to build the capacity of youth towards making them employers of labour, the NNPC Foundation, in partnership with Kudimata Nigeria Limited, have trained the Batch C members of the National Youth Service Corps (NYSC) in basic financial literacy skills. Kudimata os a financial education outfit. In a statement signed by Chief Corporate Communications Officer NNPC Ltd, Femi …

The Chief Executive Officer (CEO) of Ardova Plc, Olu Adeosun, has resigned from his position and Moshood Olajide has been appointed as the new Managing Director of the oil and gas firm. Adeosun’s resignation took effect on August 31, 2023, according to a statement by the company seen on Friday. However, he is expected to perform other official duties till …

Hon. Tajudeen Abbas, Speaker of the House of Representatives, on Thursday, severely condemned the misuse of tax breaks and exemptions. The speaker also pointed out that people who abuse tax waivers are sabotaging the economy and must be stopped. The Speaker made these comments at the inauguration of the Ad-hoc committee, which has been tasked with looking into claims of …

  All plans are on deck by the Minister of Marine and Blue Economy, Adegboyega Oyetola to rehabilitate and modernise the ports across the country. He made this known on Wednesday shortly after concluding his interaction with the various heads of agencies and departments under his ministry. The minister, who was inaugurated last Monday, began receiving briefings from the heads …

The Nigerian stock market set another record on Thursday after the appreciated by 0.16 percent to hit an all-time high as the bulls controlled movement in the bourse. In the same vein, the market capitalization rose from N36.36 trillion to N36.42 trillion after five hours of trading today. This followed the rise in ASI by 109.46 basis points to close …

The Central Bank of Nigeria (CBN) Wednesday declared that all bank notes it has issued so far remain legal tender. This is coming against reports of scarcity  of cash in some major cities despite assurances of sufficient cash stocks in all locations across the country. Clarifying this in a statement, CBN Director Corporate Communications Isa AbdulMumin said: “Our attention has again been …

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has released its audited financial results for the first half of 2023, showcasing an increase in profitability and key financial metrics. In the first half of 2023, Stanbic IBTC recorded Profit Before Tax (PBT) of ₦82.99 billion, up 108% from the PBT recorded in the same period for 2022. Profit …