By Ayomide Otitoju Ikeja Electric on Tuesday reported reduced electricity supply across Lagos, citing a nationwide drop in power generation caused by limited gas availability to thermal power plants. In a statement, the company’s Head of Corporate Communications, Kingsley Okotie, said the shortfall has led to intermittent outages and load shedding, affecting both residential and…
By Ayomide Otitoju The Group Chief Executive Officer of NNPC Limited, Bashir Bayo Ojulari, has reaffirmed Nigeria’s attractiveness to global investors, stating that the country’s strong fundamentals and clear value proposition position it as a key destination for energy capital. Speaking at CERAWeek 2026 in Houston, Ojulari said Nigeria’s energy strategy is anchored on realism,…
BMW’s Chinese unit announced a recall of nearly 180,000 vehicles on Tuesday after authorities flagged a potential wiring fault in air conditioning systems that could pose a fire hazard. According to the State Administration for Market Regulation (SAMR), the recall affects 133,849 locally manufactured 5 Series vehicles produced between December 5, 2023, and April 12,…
The European Union and Australia on Tuesday finalized a landmark free trade agreement in Canberra, ending eight years of negotiations and opening new opportunities for exporters amid growing global trade uncertainty. The leaders also agreed on a defense and security partnership to strengthen maritime and cyber cooperation. EU Commission President Ursula von der Leyen said,…
By Ayomide Otitoju Zenith Bank Plc has announced the appointment of Kennedy Okwudili as an Executive Director, effective May 1, 2026, the bank disclosed through the Nigerian Exchange Ltd on Tuesday. The bank said Okwudili’s appointment aligns with its tradition of developing leaders from within and will strengthen its executive management team. Okwudili holds a…
By Ayomide Otitoju The European Union has expanded its strategic partnership with Nigeria, unveiling a €290 million investment package aimed at boosting healthcare, agriculture, digital infrastructure, and migration management. The announcement was made on Monday during the Eighth Nigeria–EU Ministerial Dialogue in Abuja, co-chaired by Nigeria’s Yusuf Tuggar and Kaja Kallas. Under the EU’s Global…
By Ayomide Otitoju Aliko Dangote, President of Dangote Group, has raised concerns over mounting volatility in the global oil market, warning that the ongoing Middle East conflict could exacerbate economic challenges across Africa if not resolved promptly. Speaking after a visit to Bola Tinubu in Lagos on Monday, Dangote noted that while Nigeria is not…
By Ayomide Otitoju Bashir Bayo Ojulari, Group Chief Executive Officer of Nigerian National Petroleum Company Limited, has said Nigeria could raise oil production by about 100,000 barrels per day in the coming months. Ojulari disclosed this in an interview with Reuters on the sidelines of the CERAWeek by S&P Global in Houston, noting that while…
By Ayomide Otitoju The organisers of the DRC Mining Week Expo and Conference have welcomed the recent memorandum of understanding (MoU) signed between South Africa’s Industrial Development Corporation (IDC) and the Democratic Republic of Congo’s Fonds de Promotion de l’Industrie (FIP) in Cape Town. VUKA Group, organisers of the annual mining event held in Lubumbashi…
