By Ayomide Otitoju Eterna Plc has officially opened its ₦21.52 billion Rights Issue, a key milestone in its capital-raising strategy aimed at strengthening the company’s balance sheet and supporting business expansion. The offer comprises 978,108,485 ordinary shares of 50 kobo each, priced at ₦22.00 per share, and is expected to raise approximately ₦21.52 billion. Existing…
US President Donald Trump on Sunday escalated pressure on Cuba, urging the island nation to “make a deal” quickly and warning that Washington would cut off all oil and financial support following the toppling of Havana’s key ally, Venezuelan leader Nicolas Maduro. In a post on his Truth Social platform, Trump declared, “THERE WILL BE…
By Ayomide Otitoju Dangote Petroleum Refinery has dismissed media reports linking the surge in petrol imports in November 2025 to an alleged breakdown in supply arrangements between the refinery and petroleum marketers, describing the claims as inaccurate and misleading. In a statement signed by the Dangote Group’s Chief Branding and Communications Officer, Anthony Chiejina, the…
By Ayomide Otitoju The financing marks a major milestone for Levene Energy, providing direct entry into Nigeria’s regulated midstream and downstream gas sectors. The transaction represents a strategic diversification from the company’s core oil and refined petroleum products trading business into infrastructure-backed investments with stable, long-term earnings. It aligns with Levene Energy’s objective of evolving…
By Ayomide Otitoju The Lagos State Commissioner for Transportation, Mr. Oluwaseun Osiyemi, has commended the leadership and ongoing projects of the Lagos Metropolitan Area Transport Authority (LAMATA) during a working visit to the agency. The visit formed part of the commissioner’s routine engagements with agencies under the Ministry of Transportation to assess operations and obtain…
By Ayomide Otitoju Zenith Bank has injected N140 million into the tech ecosystem through its Zecathon 5.0 initiative, which drew thousands of applications and was attended by the bank’s founder and chairman, Jim Ovia, and Lagos State Governor Babajide Sanwo-Olu. The 2025 edition introduced a Hackathon track alongside the Startup Pitch Competition. From hundreds of…
By Ayomide Otitoju Nigeria’s non-oil exports grew 21 percent to $12.8 billion in 2025, driven by policy reforms and trade initiatives under the Federal Ministry of Industry, Trade and Investment (FMITI), the ministry’s 2025 review reported. Overall trade value rose 14 percent, reflecting broader economic expansion. The ministry said the growth marked a key phase…
By Ayomide Otitoju Nigeria’s international electricity customers owed the country $17.8 million (over ₦25 billion) as of the third quarter of 2025, according to the Nigerian Electricity Regulatory Commission (NERC). In its Q3 2025 report, NERC said that Togo, Niger, and Benin were invoiced a total of $18.69 million by the Market Operator for power…
South Korean technology giant Samsung Electronics on Thursday projected a record fourth-quarter operating profit of 20 trillion won ($13.8 billion), driven by surging demand for high-performance memory chips supporting artificial intelligence (AI) applications. The company, a leading global memory chip supplier, said operating profit for the quarter is expected to range between 19.8 trillion and…
