Economy Archives — Page 11 of 259

March 15, 2025 No Responses

Porsche To Cut 3,900 Jobs

Porsche is planning to reduce its workforce by approximately 3,900 positions in an effort to improve profitability. The German luxury carmaker will reduce its workforce by around 1,900 positions by 2029, leveraging demographic changes, natural turnover, and a restrictive hiring...

March 14, 2025 No Responses

Tantalizers Boosts Blue Economy Agenda, Secures $25m For Expansion

A player in Nigeria’s Quick-Service Restaurant (QSR) sector, Tantalizers Plc, has secured $25million capital to expand its operations especially in Nigeria’s blue economy. Already, the company has ventured into Nigeria’s blue economy with the acquisition...

March 13, 2025 No Responses

Stanbic IBTC Infrastructure Fund Partners SIFAX Group On Ijora Terminal Development

Stanbic IBTC Asset Management Limited, Fund Manager of the Stanbic IBTC Infrastructure Fund has partnered SIFAX Group through its subsidiary, SIFAX Shipping ICT Limited, to facilitate the development of an ultra-modern port terminal on 8.3 hectares of land (~8...

March 13, 2025 No Responses

Aiico Insurance Projects ₦114.3b Revenue For 2025 Q2

For the second quarter of 2025, AIICO Insurance Plc has projected a gross written premium of N114.3billion, driven by seasonal trends in premium receipts and actual cash flows recorded in January 2025. The company in its earnings forecast filed on...

March 13, 2025 No Responses

Coscharis Motors Rolls Out CNG Buses, Pledges Quality After Sales Support

Foremost automobile firm in Nigeria, Coscharis Motors has unveiled Joy Long Compressed Natural Gas (CNG) Buses. Unveiling the Buses after a brief test drive in Lagos, the company disclosed plans to assemble the Buses at its assembly plant in Lagos...

March 12, 2025 No Responses

NNPC Woos Global Investors, Harps On LNG Train7 Project, Others

The Nigerian National Petroleum Company Limited (NNPC Ltd) has called on global investors to direct their attention to the Nigerian oil and gas sector as the nation is now an investors’ haven owing to the robust regulatory reforms and the...

March 12, 2025 No Responses

EFCC Identifies 58 Illegal Ponzi Scheme Operators

In line with its commitment to sanitising the financial space of the nation and offer the investing public adequate and reliable information on the activities of illegal ponzi scheme operators across the country, the Economic and Financial Crimes Commission, E...

March 12, 2025 No Responses

ABC Transport Shares Sustains Momentum As Diversification Excites Investors

ABC Transport Plc has experienced a significant uptick in its stock performance, with shares rising 22% year-to-date, climbing from N1.23 at the start of January to N1.50 as of March 11, 2025. This surge has elevated the company’s market capitaliza...

March 12, 2025 No Responses

EFCC Gets Supreme Court’s Nod To Probe Odili’s Tenure

In a landmark ruling on Monday, March 10, 2025, the Supreme Court of Nigeria dismissed appeals filed by the Attorney General of Rivers State and the Speaker of the State’s House of Assembly against the leave granted the Economic and...

March 11, 2025 No Responses

Zacch Adedeji:Naira-For-Crude Policy Remains In Place

Our attention has been drawn to reports suggesting that the naira-based crude oil supply arrangement with local refineries has been discontinued, forcing the domestic refineries to rely solely on international crude purchases.These reports do not reflect the r...

March 11, 2025 No Responses

IWD: SIFAX Group Champions Women’s Leadership Role

SIFAX Group has reaffirmed its commitment to gender inclusion and leadership advancement with a high-level International Women’s Day (IWD) 2025 event, themed “Beyond Glass Ceilings: Breaking Boundaries, Redefining Success”. Held at the Lagos Marriott Hot...

March 11, 2025 No Responses

Shippers’ Council: Utilization Of Barges Key In Lekki Deep Port’s Operation

The Nigerian Shippers’ Council (NSC), has said that the role of barge operations is critical for cargo evacuation at the nation’s seaports. Director, Inland Transport Services, Mr. Mustapha Zubairu stated this at a meeting with the Barge Operators ...

March 11, 2025 No Responses

Four Killed In Lagos-Ibadan Expressway Accident

The Ogun State Police Command has confirmed the death of four passengers in a lone accident along the Lagos-Ibadan Expressway. The police spokesperson, Omolola Odutola, confirmed this in a statement adding that other passengers on the bus sustained injuries. S...

March 10, 2025 No Responses

NNPC Reacts To Fresh Controversy On Naira Crude Contract With Dangote Refinery

NNPC Limited has noted recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between NNPC Ltd. and Dangote Refinery.To clarify, the contract for the sale of crude oil in Naira...