NNPC Ltd., has scheduled to supply four crude oil cargoes, (four million barrels), under its February programme to the $20 billion Dangote refinery. The four cargoes are expected to increase total supply to about one billion barrels of crude as six million barrels have already been delivered to the plant. This, according to Reuters […]
Cadbury Nigeria has offered to swap its $7.7 million (N7.03 billion) debt owed to Cadbury Schweppes Overseas Limited for more equity. Cadbury Schweppes Overseas Limited, controlled by Mondelēz International Inc, is a major investor in Cadbury Nigeria with 74.97 percent stake. In a statement on Tuesday, Cadbury Nigeria said it borrowed $23 million from […]
British drugmaker GlaxoSmithKline on Tuesday agreed to buy Aiolos Bio for up to $1.4 billion, with focus on an asthma medication still at the testing stage. The acquisition hands GSK access to AIO-001, a long-acting antibody which is ready to enter Phase II clinical development for the treatment of adults with asthma. GSK said […]
Globacom Ltd, a Nigerian Telecommunications Company on Tuesday denied reports making the rounds that it was owing MTN interconnect charges. A reliable source in Globacom told the News Agency of Nigeria (NAN) in Lagos that the amount due for payment was N1.6 billion and it had been paid without controversy. NAN reports that a […]
Aliko Dangote has regained his position as the richest person in Africa, according to Forbes Real-Time Billionaires. The Nation had reported on Thursday, January 4, that South African business mogul Johann Ruper dethroned Nigerian Aliko Dangote to emerge as Africa’s wealthiest man. The Forbes Daily billionaires ranking platform, which tracks daily changes to the […]
Access Holdings says its subsidiary, Access Bank Plc, has completed the acquisition of African Banking Corporation Zambia Limited, also known as Atlas Mara Zambia. Sunday Ekwochi, the company secretary, made this known in a corporate filing on the Nigerian Exchange Limited (NGX), on Monday. The development is coming more than two years after the bank […]
The Dangote Petroleum Refinery says it has received the sixth one million barrels of crude oil required for the commencement of operations. In a statement, the firm said the product was supplied by the Nigeria National Petroleum Company (NNPC) Limited on Monday, and got discharged at the single point mooring (SPM-C2) of the Dangote […]
The market capitalisation of United Bank for Africa (UBA), on Monday, crossed the N1 trillion mark as the share value of the company appreciated by 3.28 percent at the close of trading. UBA’s market capitalisation hit N1.02 trillion after its share price rose to N29.90 from N28.95 reported on Friday — when the company’s […]
The Nigerian Electricity Regulatory Commission, on Monday, announced the dissolution of the board of directors of Kaduna Electricity Distribution Company over the Disco’s inability to pay N110bn debt owed to the Nigeria Electricity Supply Industry. In a regulatory order dated January 1, 2024 and signed by the Chairman and Vice Chairman of NERC, Sanusi […]
The Nigerian Communications Commission (NCC) has granted MTN approval to disconnect Glo from its network over interconnect debt. NCC, in a document Monday, titled: ‘Pre-Disconnection Notice,’ notified the public and subscribers of Globacom that approval has been granted for the partial disconnection of Globacom from MTN Nigeria due to non-settlement of interconnect charges. NCC, […]
