By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) is working to ensure that Nigerians enjoy a 50 percent discount on the cost of converting their vehicles to run on Compressed Natural Gas (CNG). Executive Vice President, Gas, at NNPCL, Mr. Lekan Ogunleye, made the disclosure during an investigative hearing by the House of…
Gold purchases in Iran soared in Q2 2025 despite high global prices, driven by heightened regional tensions during a 12-day conflict with Israel, the World Gold Council (WGC) reported Thursday. Iran recorded a 20% year-on-year increase in gold coin and bar sales — the highest level in six years. Demand for jewellery also rose 12%…
The Bank of Japan (BoJ) kept its key interest rate unchanged at 0.5% on Thursday, raising inflation and growth forecasts while flagging heightened risks from U.S. trade policy under President Donald Trump. The central bank lifted its core inflation projection for 2025 to 2.8%, up from 2.3%, but cautioned that external pressures — including U.S….
U.S. President Donald Trump has signed an executive order imposing an additional 40% tariff on Brazilian exports, raising total trade duties to 50%, the White House announced Wednesday. The action targets what Trump described as political persecution of Brazil’s former president Jair Bolsonaro, a key far-right ally. A White House fact sheet accused the Brazilian…
British oil major Shell has reported a 23% decline in net profit for the first half of 2025, citing a downturn in global energy prices. The group’s profit after tax fell to $8.4 billion, compared to $10.9 billion in the same period last year. Revenue also declined by nearly 9%, dropping to $136.6 billion, according…
By Ayomide Otitoju President of the Dangote Group, Alhaji Aliko Dangote, has revealed plans to list the $20 billion Dangote Refinery on the stock exchange, offering Nigerians an opportunity to become shareholders in the landmark facility located in Lekki, Lagos State. Dangote made the disclosure at the Global Commodity Insights Conference on West African Refined…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC Ltd.) has officially ruled out the sale of the Port Harcourt Refining Company (PHRC) and announced plans to raise new funding to complete the rehabilitation of its refineries in Port Harcourt, Warri, and Kaduna. Group CEO Bayo Ojulari made the declaration during a company-wide town…
By Ayomide Otitoju Sterling Financial Holdings Company Plc (Sterling HoldCo) has reported a 157% year-on-year increase in profit after tax, reaching ₦41.78 billion for the half-year ended June 30, 2025, up from ₦16.26 billion in the same period of 2024. The unaudited financial results released on Wednesday showed earnings per share rose to 89 kobo…
By Ayomide Oitoju BUA Foods Plc has posted a 101% year-on-year growth in profit before tax, reaching ₦276.1 billion for the half-year ended June 30, 2025, according to unaudited financial results submitted to the Nigerian Exchange Group on Wednesday. The company’s revenue climbed by 36% to ₦912.5 billion, supported by strong performances across its sugar,…
