Here is New Telegraph’s weekly business news roundup of the top 15 latest Nigerian news making headlines from Monday, April 22 to Saturday, April 27, 2024.

Court To Rule On Binance Executive’s Bail Application May 17

Abuja Federal High Court has fixed May 17 to hear the bail application of the executive officer of Binance Holdings Limited, Tigran Gambaryan, who is currently in prison custody pending the determination of the money laundering charge against him.

The trial judge, Justice Emeka Nwite adjourned to rule on Gambaryan’s bail request on Tuesday after the… Read more

AfCFTA: PAMA, MAN To Champion Ratification Of Single Currency

As Nigeria commences formal export of locally produced commodities to South Africa, Rwanda, Cameroon and Kenya this month under the Guided Trade Initiative of the African Continental Free Trade Area, the Manufacturers Association of Nigeria (MAN) and PanAfrican Manufacturers Association (PAMA) are closely working with African leaders to champion the ratification and adoption of a single African currency.

This is to weaken the strength posed by… Read more

Q-o-Q: PMS Import Increases By 10.8% To N3.63trn

Importation of Premium Motor Spirit (PMS) has increased by 10.8 per cent in the first quarter of 2024.

Findings by New Telegraph revealed that the country had imported 2.86 million tonnes of petrol valued at… Read more

FG Grounds Dana Air Over Safety Concerns

The Federal Government yesterday suspended Dana Airline’s fleet operations over safety concerns.

This followed Tuesday’s incident involving a Dana Air plane, which veered off the… Read more

Q1’24: More Nigerians Buy Dangote Cement As Volume Rises By 26.1%

Strategies adopted by Dangote Cement to increase sales and ensure adequate supply of products to customers are yielding the desired results as domestic sales volume increased by 26.1 per cent to 4.6Mt in the first quarter of 2024.

According to the cement manufacturers’ unaudited results for the three months that… Read more

FG Woos Investors To Nigeria With Mining Incentives, Policies

The Minister of Solid Minerals Development, Dr Dele Alake has described Nigeria as Africa’s choice mining investment destination to Australian investors.

He said that was due to its incentives and policies designed to… Read more

Air Peace Flight Makes Emergency Landing At Lagos Airport

Passengers on Air Peace aircraft were yesterday evacuated after the airline’s aircraft made an emergency landing at the Murtala Muhammed International Airport (MMIA), Lagos.

The carrier in a statement yesterday said some minutes before… Read more

NNPCL Signs Agreement For 100,000bpd Facility Inside Port Harcourt Refinery

The Nigerian National Petroleum Company Ltd (NNPC Ltd) has signed an agreement with African Refinery for a share subscription agreement with Port-Harcourt Refinery.

According to a post on its official X handle yesterday, the… Read more

Naira Sustains Slide, Crashes To N1,450/$1 On Parallel Market

The naira extended its weakening trend yesterday, dropping to N1,450 per dollar on the parallel market from N1,300/$1 on Wednesday, forex traders said.

The local currency also depreciated further on the official market on Thursday, closing at… Read more

Air Peace To Begin Abuja-London Flights – Keyamo

Air Peace, a Nigerian airline on Thursday announced its plan to commence flights between Abuja to London.

The Minister of Aviation and Aerospace Development, Festus Keyamo made the disclosure while speaking on… Read more

Air Peace Makes Emergency Landing At Lagos Airport, Passengers Evacuated

Passengers on Air Peace aircraft were on Thursday evacuated after the airline’s aircraft made an emergency landing at the Murtala Muhammed International Airport (MMIA), Lagos.

The carrier in a statement last Thursday said some minutes before landing… Read more

CAA Opens Application For Start-Ups In Climate-Tech Sector

Climate Action Africa (CAA), a leading advocate for climate resilience and sustainable development, has announced the opening of applications for the Deal Room at the 2024 Climate Action Africa Forum (CAAF24).

The Deal Room is a platform that aims to connect high-impact climate innovators in… Read more

Subscribers Kick As Multichoice Increases Tariffs Again

Nigerians may be forced to pay higher to watch their favourite TV stations on DStv and GOtv as the parent company, MultiChoice, released new subscriptions with 26 percent increment.

According to the company in a statement on yesterday, the new tariffs will… Read more

LCCI Rues Mining Sector’s Low Performance

The Lagos Chamber of Commerce and Industry (LCCI) has said that inherent challenges, including inadequate infrastructure, regulatory inconsistencies, limited access to financing, and security concerns around the country’s mining locations are currently stifling growth.

The Director-General of LCCI, Dr. Chinyere Almona, made this known in a press release to the media yesterday in… Read more

NNPC Ltd, Partner Unlock 12,000bpd Production From Awoba Unit Field

The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture partner in the Awoba Unit Field, Newcross Exploration and Production Ltd., have restarted production from the Awoba field which last contributed production to the Bonny Terminal in 2021 and was finally shut down in February 2022 due to evacuation issues and crude oil theft.

According to a statement on Tuesday, Chief Corporate Communications Officer, NNPC Ltd, Olufemi O. Soneye, this is in… Read more