Category: Business News
Business News
NNPC Ltd wins major legal battle, avoids ₦5 billion payout
The court found that the Federal High Court’s judgment was flawed, agreeing with NNPC Ltd.’s argument that the case was statute-barred
OPEC lifts 2026 oil demand view and trims supply growth from rivals
World oil demand will rise by 1.38 million barrels per day in 2026, the Organization of the Petroleum Exporting Countries said in a monthly report
NUPRC engages industry stakeholders to advance shallow and deepwater cluster development
Lagos — The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, is seeking to advance the development of Nigeria’s deep and shallow offshore fields towards making value of stranded and marginally economic such assets through cluster development mechanisms or arrangements. This formed the thrust of a strategic workshop held in keeping with its mandate as a business…
Nigerian designers set to showcase at Africa Fashion Week London 2025
LAGOS – Two Nigerian design houses are set to showcase their designs at the Africa Fashion Week London (AFWL) 2025, scheduled for August 9 – 10 at Space House, London. Henri Uduku and Black Fine and Fly will represent Nigeria’s fashion and design industry at one of the world’s most prestigious runways under the auspices…
Abdullahi Ramat becomes NERC’s new Chairman
Ramat, aged 39, has experience in engineering, public sector operations, and digital systems.
Africa Finance Corporation announces US$50 billion GDP boost and creation of 7 million jobs via scalable infrastructure model
*166 projects across 36 countries delivering real-world impact at scale *Climate-smart infrastructure avoiding annual 8.8 million tons of CO₂ emissions *Africa’s largest and fastest-growing renewable energy platform delivers 1.4 GW of clean electricity, and on track to reach 3 GW by 2030 By Oke Peter Lagos – Africa Finance Corporation, the continent’s leading infrastructure solutions…
Fire outbreak at Egbin Power Plant impacts TCN transformer
By Oke Peter The Transmission Company of Nigeria (TCN) wishes to inform the public of a fire incident that occurred at approximately 6:30 a.m. on August 5, 2025, at the Egbin Power Plc facility. The incident affected one of TCN’s critical assets — a 150MVA 330/132/33kV Inter-Bus Transformer II — located at the Egbin Transmission…
Shell unveils plans for Nigeria’s sustainable energy future, vows continued support
That’s performance built on foresight, technology, and a commitment to excellence
Management confirms Egbin Power Plc, Ikeja Electric Plc, and First Independent Power Ltd are not in Receivership
Egbin Power, First Independent Power, and Ikeja Electric remain fully operational, financially stable, and firmly under the control of their legitimate management
Afreximbank provides $1.35 billion for Dangote Refinery’s $4 billion refinancing loan
With this landmark deal, we once again demonstrate that Africa’s development can only be meaningfully financed from within.