By Ayomide Ottoju MTN Nigeria Communications Plc has announced plans to divest its ownership in Y’ello Digital Financial Services and sell a 60 per cent stake in MoMo Payment Service Bank to MTN Group in a transaction valued at N152.06 billion. The proposed deal, disclosed in a shareholders’ FAQ ahead of the company’s Annual General…
By Ayomide Otitoju The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has pegged the retail price of Aviation Turbine Kerosene (ATK) in Nigeria at between ₦1,960 and ₦2,800 per litre amid rising fuel costs affecting airline operations. In a statement, NMDPRA Director of Public Affairs George Ene-Ita said the prices were based on nationwide…
By Ayomide Otitoju Nigeria’s crude oil production has risen to its highest level in five years, reaching 1.71 million barrels per day between April 2025 and April 2026, according to the Nigerian National Petroleum Company Limited (NNPC). The figures were contained in the NNPC One-Year Mandate Report Summary shared on X by Group Chief Executive…
By Ayomide Otitoju The Niger Delta Power Holding Company Limited (NDPHC) and the Nigerian Content Development and Monitoring Board (NCDMB) are planning to supply 10 megawatts of electricity to the Nigerian Oil and Gas Park in Odukpani, Cross River State. In a statement signed by NDPHC’s Head of Corporate Communications and External Relations, Emmanuel Ojor,…
By Ayomide Otitoju Zenith Bank Plc has announced the launch of a new subsidiary in Côte d’Ivoire, marking a key milestone in its Pan-African expansion strategy. The official opening ceremony is scheduled for April 29, 2026, and is expected to attract senior government officials, regulators, and business leaders from across Africa, underscoring growing economic ties…
By Ayomide Otitoju The Managing Director of Rite Foods Limited, Seleem Adegunwa, has been named Industrialist of the Year by Vanguard Media Limited in recognition of his leadership and the company’s impact on Nigeria’s fast-moving consumer goods (FMCG) sector. The award was presented at a ceremony held at the Convention Centre of Eko Hotel and…
By Ayomide Otitoju JMG Limited, through its HVAC division JMG Clima, has delivered and commissioned a high-efficiency cooling system for a prominent Lagos-based snacking company. The project, executed in partnership with Trane Technologies as its official dealer in Nigeria, involved upgrading the client’s existing air-conditioning infrastructure to improve performance under Lagos’ high heat and humidity…
By Ayomide Otitoju Shell has announced plans to acquire Canadian oil and gas firm ARC Resources in a deal valued at approximately $16.4 billion, as part of efforts to expand its shale gas and liquids portfolio. In a statement on Monday, Shell said the acquisition, which includes about $13.6 billion in equity value and $2.8…
By Ayomide Otitoju Ibom Air has warned it may cut flight capacity as the cost of Aviation Turbine Kerosene (Jet A1) continues to surge across Nigeria. In a statement issued on Saturday, the airline’s Group Manager, Marketing and Communication, Aniekan Essienette, disclosed that the cost of fueling its aircraft has risen sharply within weeks. According…
