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N1.18tn Market Surge on Oil, Insurance Boost

19.06.2025
The Nigerian Exchange closed on a positive note on Wednesday, as buying interest in insurance and oil and gas stocks drove a broad-based rally, resulting in a market capitalisation gain of N1.18tn, the largest single-day rise recorded so far this week. At the close of trading, the All-Share Index surged by 2,246.00 points, representing a...
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Oil Firms Face Sanctions Over $456m Unpaid Revenue

19.06.2025
The House of Representatives Public Accounts Committee on Wednesday warned 13 non-compliant oil companies to appear before it to answer questions in the ongoing probe of non-remittance of monies due to the Federal Government, or face grave sanctions. The companies are allegedly owing the Federal Government about $456.95m (N731.12 bn) in unremitted revenues. In a...
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Air Peace Secures Heathrow Slot, Slams Critics

19.06.2025
Chairman of Air Peace, Allen Onyema, has condemned what he called a “targeted campaign” to damage the airline’s reputation. Speaking to journalists in Lagos on Wednesday, Onyema said, “Air Peace has done a lot for our fatherland and we will continue to do it because we see it as a calling, not to make money.”...
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Stock Market Gains N1.18trn: Seplat Leads Surge

19.06.2025
The Nigerian stock market rebounded on Wednesday after a two-day loss, as investors gained N1.184 trillion. Market capitalisation rose by N1.184 trillion, or 1.63 per cent, to close at N73.681 trillion, up from N72.497 trillion recorded on Tuesday. Similarly, the All-Share Index rose by 1,876.71 points, or 1.63 per cent, settling at 116,786.87 from its...
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Fidelity Bank Targets June Exit from CBN Forbearance

19.06.2025
Fidelity Bank has emerged as the latest lender to indicate that it will bring its forbearance exposure under regulatory compliance by the first half of 2025. In a press statement filed with the Nigerian Exchange Limited on Wednesday night, the lender indicated that its Single Obligor Limits forbearance relates to two obligors and that its...
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First LNG Ship Arrives at Apapa Terminal

19.06.2025
APM Terminals Apapa has announced receiving the first liquefied natural gas-powered containership to visit West Africa. Disclosing this in a statement on Wednesday, the terminal stated that the berthing of the vessel named ‘Kota Oasis’ marked a significant milestone in the terminal’s operations. According to the statement, the vessel, measuring 260 metres in length and...
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Lekki Port Trade Booms After Road Fix

19.06.2025
The management of Lekki Port LFTZ Enterprise Limited says the inauguration of the Lekki Deep Seaport access road has boosted the confidence of shippers and other stakeholders to import and export goods through the port. The port stated this in a statement recently. Recall that a few weeks ago, President Bola Tinubu inaugurated the 37-kilometre...
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Low Bids Halt FG’s Privatization Plan

19.06.2025
The Federal Government has delayed the sale of five National Integrated Power Projects due to low bids from prospective investors, even as the Transmission Company of Nigeria grapples with a mounting debt profile of N457bn. The TCN Executive Director of Transmission Service Provider, Oluwagbenga Ajiboye, made this known during a capacity-building workshop for journalists in...
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Dantsoho Prioritizes Human Capital Development

19.06.2025
The Managing Director of the Nigerian Ports Authority, Dr Abubakar Dantsoho, has reiterated that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch. According to a Wednesday statement by the General Manager of Corporate & Strategic Communications of NPA, Mr Ikechukwu Onyemekara, Dantsoho stated this when he received...
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Nigerian Mariners Ready to Lead

19.06.2025
The Nigerian Association of Master Mariners has stated that the association is not only well-prepared to support the blue economy drive but has also been at the forefront of advocating best practices long before the term became mainstream locally. The National President of the NAMM, Captain Tajudeen Alao, stated this recently in Lagos during the...
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