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OADC plans $240m Lagos data centre upgrade

20.03.2025
Open Access Data Centres, a subsidiary of WIOCC Group, plans to expand its Lagos data centre to 24 megawatts by 2027, a huge project that could see the digital infrastructure company coughing out $240m. OADC situated in Lekki, serving as the landing station for Google’s Equiano subsea cable in Nigeria, currently operates about 1.5MW of...
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Petroleum engineers decry gas waste

20.03.2025
The Society of Petroleum Engineers has lamented the high rate of natural gas waste in Nigeria. The SPE said it is preparing its members for decarbonisation of the African petroleum industry in the face of threats posed by the prevailing global campaign for the energy transition. The group declared that decarbonisation of fossil fuels has...
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Fuel price hike looms as Dangote, NNPCL talks fail

20.03.2025
The Dangote Petroleum Refinery has temporarily halted the sales of petroleum products in naira as the naira-for-crude talks between the $20bn Lekki-based plant and the Nigerian National Petroleum Company Limited appear to have failed. Following the announcement of the halt in petroleum products’ sales in naira by the Dangote refinery on Wednesday, the cost of...
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Air Peace reduces airfare on London-Lagos route

20.03.2025
Air Peace has said travelers will enjoy up to N600,000 reduction in airfares when they connect from cities across Nigeria to London with one additional luggage. The airline said this in a statement on Wednesday, adding that the promo runs until March 31, 2025, with an extended travel period until April 15, 2025. Air Peace...
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FG plans to raise N300bn via March bond auction

20.03.2025
The Federal Government, through the Debt Management Office, has announced a bond offer for subscription by auction on March 24, 2025, to raise a total of N300bn this month. The issuance comprises a N200bn five-year bond and a N100bn nine-year bond, aimed at raising funds for government financing. According to the offer circular released by...
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Local content in petroleum sector now 56% – NCDMB

20.03.2025
The Nigerian Content Development and Monitoring Board, on Wednesday, announced that local content in the petroleum industry has now reached 56 per cent, with ongoing reviews likely to further enhance this figure. The NCDMB Executive Secretary, Felix Ogbe said this at a press conference to announce the fifth edition of the 2025 Nigerian Oil and...
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NGX extends losing streak, sheds N289bn

20.03.2025
The Nigerian Exchange extended its losing streak on Wednesday, shedding N289bn in market value as bearish sentiments persisted for the third consecutive trading session. The benchmark All-Share Index declined by 0.44 per cent to close at 104,915.13 points, dragging the total market capitalisation to N65.8tn. Investor participation surged despite the negative sentiment, with 1.37 billion...
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Nigerian Breweries seals 100% Distell acquisition

20.03.2025
Nigerian Breweries Plc has completed the acquisition of the remaining 20 per cent stake in Distell Wines and Spirits Nigeria Limited, securing full ownership of the company. In a regulatory filing with the Nigerian Exchange Limited by the company secretary, Uaboi Agbebaku, on Wednesday, the company said the acquisition follows the execution of a sale...
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Seplat Energy accepts $567m in 2026 notes

20.03.2025
Seplat Energy Plc has announced the successful completion of its tender offer for cash repurchase of its outstanding 7.750 per cent senior notes due 2026. In a regulatory filing on the Nigeria Exchange Limited on Wednesday, the company accepted $567.46m in aggregate principal amount of the notes, representing approximately 87.3 per cent of the total...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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