Billionaire investor Warren Buffett has announced he will retire as CEO of Berkshire Hathaway by the end of the year, bringing to a close a storied 54-year leadership of one of the world’s most successful conglomerates. Speaking at Berkshire’s annual shareholders’ meeting in Omaha, the 94-year-old confirmed that Vice Chairman Greg Abel will succeed him…
By Ayomide Otitoju British energy giant Shell reported a 35% decline in first-quarter net profit on Friday, citing weaker oil prices, but moved to reassure investors with strong shareholder returns. In its Q1 2025 earnings statement, Shell posted a net profit of $4.8 billion attributable to shareholders, down from $7.4 billion in the same period…
By Ayomide Otitoju The Central Bank of Nigeria (CBN) has announced a significant rise in its operating income, surging to N15.23 trillion in 2024, up from N5.89 trillion recorded in 2023. The figures were contained in the apex bank’s newly released consolidated and separate financial statements for the year ended December 31, 2024. The banking…
By Ayomide Otitoju FirstBank of Nigeria has entered into a strategic partnership with EStars Education Africa Limited, a global leader in educational esports, to promote structured esports education and unlock new career opportunities for Nigerian youth. The collaboration will support the rollout of EStars’ educational qualifications, including entry-level Certificates and BTEC courses tailored to the…
By Ayomide Otitoju The Nigerian Civil Aviation Authority (NCAA) has summoned Air Peace Limited over a series of recurrent flight delays and cancellations that have disrupted travel plans and sparked public complaints. In a statement issued on Friday by NCAA’s Director of Public Affairs and Consumer Protection, Michael Achimugu, the aviation regulator expressed serious concern…
By Ayomide Otitoju The African Development Bank (AfDB) has approved a new five-year Country Strategy Paper (CSP) for Nigeria, pledging an annual commitment of approximately $650 million to support economic transformation, infrastructure development, and inclusive growth across the country from 2025 to 2030. In a statement released on its official website, the Bank announced that…
By Ayomide Otitoju Mrs. Jennifer Eric, Managing Director and CEO of Eric Genny Food, producers of the Erygenes Food brand, has called on the Nigerian government and citizens to increase their support for locally made food products. She said such support is critical for improving public health and strengthening Nigeria’s agricultural sector. In an interview,…
By Ayomide Otitoju Namibia could produce more than 2.5 million tonnes of natural gas per annum based on early assessments of discoveries made since 2022, the National Petroleum Corporation of Namibia (NAMCOR) announced last week. Speaking at the Namibia International Energy Conference on April 24, Mtundeni Ndafyaalako, Executive of Upstream Development & Production at NAMCOR,…
By Ayomide Otitoju The Supreme Court has overturned a Federal High Court ruling that awarded over N22 trillion against Union Bank and other parties in a legal dispute dating back to 2014. The case stemmed from a suit filed by Visana Nigeria Limited, which claimed Union Bank owed approximately $8 million, accruing compound interest of…
