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PZ Cussons Faces Setback as Shareholders Reject Debt-to-Equity Proposal
Nigeria PZ Cussons Faces Setback as Shareholders Reject Debt-to-Equity Proposal
Nigeria News
1 min read
PZ Cussons Nigeria (PCZN) failed to secure the 75% shareholder approval needed to convert a ₦51.79 billion intercompany loan into equity. Despite...
SPDC Rebranded as Renaissance Africa Energy After Shell’s Exit
Nigeria SPDC Rebranded as Renaissance Africa Energy After Shell’s Exit
Nigeria News
2 min read
Renaissance Africa Energy Holdings has completed its acquisition of Shell Petroleum Development Company (SPDC) in Nigeria. The $1.3 billion deal...
Customs Seize Over $1.1M in Undeclared Cash at Kano Airport
Nigeria Customs Seize Over $1.1M in Undeclared Cash at Kano Airport
Nigeria News
2 min read
The Nigeria Customs Service (NCS) seized over $1.1 million in undeclared foreign currency at Kano Airport, hidden inside palm-date fruit packs...
Lagos Now Africa’s 2nd-Largest City Economy as GDP Reaches $259 Billion
Nigeria Lagos Now Africa’s 2nd-Largest City Economy as GDP Reaches $259 Billion
Nigeria News
2 min read
Lagos has emerged as Africa’s second-largest city economy, with its GDP reaching $259.75 billion, surpassing other major African cities except...
Naira Gains to N1,565/$ in Parallel Market as Official Rate Weakens
Nigeria Naira Gains to N1,565/$ in Parallel Market as Official Rate Weakens
Nigeria News
1 min read
The naira appreciated to N1,565/$ in the parallel market, while it weakened to N1,537/$ in the official market, narrowing the gap to N37/$...
Petrol Prices May Drop to N800/Litre as Landing Cost Falls
Nigeria Petrol Prices May Drop to N800/Litre as Landing Cost Falls
Nigeria News
2 min read
The landing cost of petrol in Nigeria has dropped to N774.82 per litre, a 16.5% decrease, due to falling global crude oil prices. This could drive...
Naira-for-Crude: FG Dismisses Rumors, Assures Policy Continuation
Nigeria Naira-for-Crude: FG Dismisses Rumors, Assures Policy Continuation
Nigeria News
2 min read
The Nigerian government has reaffirmed its commitment to the Naira-for-Crude policy, ensuring local refineries continue buying crude oil in naira...
NNPC Denies Terminating Naira-for-Crude Deal, Says It Was a Six-Month Agreement
Nigeria NNPC Denies Terminating Naira-for-Crude Deal, Says It Was a Six-Month Agreement
Nigeria News
1 min read
The NNPC has clarified that its crude-for-naira deal was a temporary six-month agreement set to expire in March 2025. The company stated that...
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