Ayobamiji Komolafe 
Business News Round-UP
Here is New Telegraph’s weekly business news roundup of the top 15 latest Nigerian news making headlines from Monday, September 16 to Saturday, September 22, 2024.
Coca-Cola Announces $1bn Investment In Nigeria
The Coca-Cola Company on Thursday announced plans to invest $1 billion in Nigeria over the next five years.
This was as President Bola Tinubu has reaffirmed his administration’s…Read more
CBN Reintroduces Cybersecurity Levy On Electronic Transactions
The Central Bank of Nigeria (CBN) on Wednesday announced its plan to re-introduce and enforce the payment of the Cybersecurity Levy on electronic transactions by Nigerians.
This development was announced in its Monetary, Credit, Foreign Trade, and…Read more
Dangote Refinery Targets Sea Transport For 75% Of Domestic Supplies
The Vice President (Oil & Gas), Dangote Industries Limited (DIL), Mr. Devakumar Edwin, has said that there are plans to transport 75 per cent of the domestic petroleum product supply of Dangote Refinery and Petrochemicals supply via sea routes.
He stated that the group targeted key locations like Calabar, Port Harcourt, and…Read more
Why Inflation Rate Drops Further Down To 32.15% – NBS
Nigeria’s statistics office has said the inflation rate dropped further down to 32.15 per cent in August 2024 from 33.40 per cent in July.
This significant decline of 1.25 per cent was reported in August which witnessed…Read more
FG Votes N362.9bn To Tackle Hardship Through Agriculture
The Federal Government has voted N362. 9 billion to battle the severe economic hardship in the country through the agriculture sector.
The Minister of Information and National Orientation Mohammed Idris said…Read more
US Certifies Nigerians To Lift Shrimps As Demand Hits $25.3bn
No fewer than 23 trawlers have been certified fit to ferry shrimps to United States and European markets from Nigeria as demand is currently valued at $25.3 billion.
The United States’ Turtle Excluder Devices (TEDs)’s Inspection Team…Read more
States Remit N237bn Pension Contributions In 4 Years
The National Pension Commission (PenCom) on Wednesday said that states remitted N236.7 billion pension contribution to the Pension Fund Custodians (PFCs) from January 2020 to the second quarter of 2024.
This was disclosed at the Third Quarter 2024 Consultative Forum For States And…Read more
FAAC Shares N1.203trn To Federal, States, Councils As August Allocations
The three tires of governments comprising federal, states and local government councils shared the total sum of N1.203 trillion as August revenue from federation purse.
The distribution was endorsed yesterday at the September 2024 meeting of…Read more
States Remit N237bn Pension Contributions In 4 Years
The National Pension Commission (PenCom) on Wednesday said that states remitted N236.7 billion pension contribution to the Pension Fund Custodians (PFCs) from January 2020 to the second quarter of 2024.
This was disclosed at the Third Quarter 2024 Consultative Forum For…Read more
Shettima Assures Airline Operators Of Better Working Environment
Vice President Kashim Shettima has again assured airlines operators in the country of better working environment. This assurance came barely a week after the signing of the Cape Town Convention (CTC) Practice Directions.
According to a release by his spokesman, Stanley Nkeocha, Shettima…Read more
Oil Theft: 135 Illegal Refineries, Pipelines Discovered
The Nigerian National Petroleum Company Limited (NNPC Ltd) has said that 99 illegal refineries, and 36 illegal pipeline connections were discovered in the Niger Delta region in a week.
It explained that a total of 218 incidences were recorded across several locations in…Read more
US Commits $86.3m In Nigeria’s Energy Sector
The United States Assistant Secretary of State, Energy Resources, Geoffrey Pyatt, has renewed the US’s commitment to supporting the US-Nigeria energy transition.
He highlighted various initiatives, including technical assistance to reduce…Read more
PMS: IPMAN Kicks Over High Cost Of Fuel From Dangote Refinery
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that it does not make sense for the Nigerian National Petroleum Company Limited (NNPCL) to sell petrol lifted from Dangote Refinery higher than imported product.
The National Welfare Officer, IPMAN, John Kekeocha, also cautioned that…Read more
IPPIS: FG Reassures On Payroll Information System’s Safety
The Integrated Personal and Payroll Information System (IPPIS) database is safe and secure, Office of the Accountant General of the Federation (OAGF) assured yesterday.
The assurance is on the heels of recent insinuation of tampering and…Read more
US-Nigeria Energy Partnership Will Optimize Mutual Opportunities – Ekpo
The Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has expressed optimism about the US-Nigeria clean energy partnership, stating that it will optimize mutual opportunities for both nations and investors in the sector.
Ekpo spoke at the 2-day US-Nigeria Strategic Energy Security Dialogue…Read more
