By Ayomide Otitoju President Bola Tinubu has congratulated the Nigerian National Petroleum Company Limited (NNPCL) on the successful revitalization of the Port Harcourt refinery, marked by the commencement of petroleum product loading on Tuesday. In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, the president acknowledged the foundational efforts of…
Amazon has announced an additional $4 billion investment in Anthropic, bringing its total commitment to the artificial intelligence startup to $8 billion. The move deepens Amazon’s partnership with the AI developer while maintaining its position as a minority investor. The collaboration includes Amazon serving as Anthropic’s primary cloud computing provider and integrating its generative AI…
By Ayomide Otitoju The Kano State Internal Revenue Service (KIRS) has sealed the headquarters of Max Air Limited, a leading Nigerian airline, over an alleged non-payment of ₦190 million in Pay As You Earn (PAYE) and other tax liabilities accrued between 2012 and 2017. This action is part of a sweeping crackdown on tax defaulters…
Nigeria’s unemployment rate fell to 4.3% in the second quarter of 2024, down from 5.3% in the first quarter, according to the latest report by the National Bureau of Statistics (NBS) released on Monday. This marks a steady recovery from the 5.0% rate recorded in Q3 2023, signaling gradual improvements in the country’s labor market….
By Ayomide Otitoju The Dangote Group’s pavilion at the ongoing 45th Kano International Trade Fair has become a hub of activity, attracting a surge of visitors eager to explore the company’s offerings as the year draws to a close. Organized by the Kano Chamber of Commerce, Industry, Mines, and Agriculture (KACCIMA), the event, themed “Non-Oil…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) has requested an additional ₦1.19 trillion subsidy refund for July 2024, citing exchange rate differentials and joint venture taxes related to Premium Motor Spirit (PMS) imports. This follows an earlier claim that exchange rate differentials stood at ₦5.31 trillion by July 2024, up from ₦4.56…
By Ayomide Otitoju Nigeria’s Gross Domestic Product (GDP) expanded by 3.46% year-on-year in real terms during the third quarter (Q3) of 2024, according to the latest data from the National Bureau of Statistics (NBS). The growth reflects an improvement from 2.54% recorded in Q3 2023 and the 3.19% achieved in Q2 2024. Aggregate GDP at…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC Ltd.) has reaffirmed its commitment to increasing Nigeria’s crude oil production to 2 million barrels per day (bpd) and beyond by the end of 2024. This was disclosed on Monday by NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, in response to reports alleging discrepancies between…
By Ayomide Otitoju Zenith Bank Plc has officially unveiled its iconic annual Christmas decorations along Ajose Adeogun Street and Roundabout in Victoria Island, Lagos, marking the start of the festive season. The grand Light-Up ceremony, held on Saturday, was launched by the Group Managing Director/Chief Executive of Zenith Bank Plc, Adaora Umeoji. This initiative, now…
