Dangote Refinery Refutes Shutdown Claims, Assures Supply Uninterrupted During Maintenance
The Dangote Petroleum Refinery has dismissed reports of a production shutdown, clarifying that ongoing routine maintenance will not disrupt fuel supply. Management said the scheduled servicing is part of standard operations to ensure optimal performance and efficiency of the facility.
Onitsha River Port Receives First Barge of 2025 Shipping Season
The Onitsha River Port has officially welcomed its first barge consignment of the 2025 season, marking a fresh boost for inland waterway commerce. Authorities say the arrival signals renewed momentum in cargo movement along the River Niger, enhancing trade connectivity and reducing pressure on road transport.
NGX Approaches ₦100 Trillion Market Capitalization as 35 Stocks Drive Rally
The Nigerian Exchange (NGX) is on the verge of hitting a historic ₦100 trillion in market capitalization, fueled by strong performances from 35 bullish stocks. The surge reflects growing investor confidence and momentum across key sectors, pushing the market to record-breaking levels.
Ellison Overtakes Musk as World’s Richest Man with $101 Billion Surge
New York — Oracle co-founder Larry Ellison briefly overtook Elon Musk on Wednesday to become the world’s richest man, following a record-breaking surge in his fortune driven by Oracle Corp.’s blockbuster earnings report.
BUSINESS: Naira Records Major Gains Against Dollar
By Business Desk The naira extended its positive run against the United States dollar this week, recording significant gains across both the official and parallel foreign exchange markets.
Ellison Overtakes Musk as World’s Richest Man with $101 Billion Surge
New York — Oracle co-founder Larry Ellison briefly overtook Elon Musk on Wednesday to become the world’s richest man, following a record-breaking surge in his fortune driven by Oracle Corp.’s blockbuster earnings report.
Trade Fair Market Traders in Lagos Protest Over High Rent
Tension erupted on Monday at the Trade Fair International Market, Lagos, as traders staged a mass protest against the recent hike in shop rents, agent fees, and other charges imposed by market authorities.
New Law Will Enhance Insurance Sector’s GDP Impact — NAICOM
The National Insurance Commission (NAICOM) has expressed optimism that the recently enacted insurance law will significantly enhance the sector’s contribution to Nigeria’s Gross Domestic Product (GDP). According to the Commission, the new legislation introduces key reforms aimed at strengthening regulation, promoting investor confidence, and expanding insurance penetration across the country.
Incomplete Documentation Stalling Disbursement of N75bn Loans to Beneficiaries – BoI
The Bank of Industry (BoI) has revealed that the disbursement of the ₦75 billion loan facility to Micro, Small, and Medium Enterprises (MSMEs) is being delayed due to incomplete documentation by applicants. The bank urged prospective beneficiaries to ensure proper submission of required documents to speed up the loan approval and disbursement process.
Nigeria Increases Insurance Capital Requirements Fivefold, Gives Firms One Year to Comply
The Nigerian government has announced a fivefold increase in minimum capital requirements for insurance companies, giving operators 12 months to meet the new threshold. Regulators say the move aims to strengthen the sector’s financial stability, enhance claims settlement capacity, and align Nigeria’s insurance market with global standards.
