Seplat Energy Plc has successfully restored 49 previously idle wells acquired from ExxonMobil to active production. As part of an aggressive turnaround strategy following its landmark $1.28 billion acquisition of the company’s onshore and shallow-water assets. The Lagos- and London-listed energy producer disclosed that the idle well restoration programme became a major growth driver for…
The Federal Airports Authority of Nigeria (FAAN) has distributed over 70,000 Go Cashless cards. To ease traffic congestion and restore smooth operations at airports. The update was provided by Henry Agbebire, Director of Public Affairs and Consumer Protection at FAAN. During an interview on ARISE News on Tuesday. He acknowledged that the transition created inconvenience…
Mrs. Jumoke Ajayi has appointed Chief Executive Officer of the West African Exploration. And Production Company (WAEP), marking a significant moment in Nigeria’s petroleum industry. Ajayi, who also serves as President of the National Association of Petroleum Explorationists (NAPEN). Has long regarded as a respected leader and trailblazer in the energy sector. Her elevation to…
President Bola Ahmed Tinubu has directed the immediate release of approved funds for the maintenance of Nigeria’s space assets. Signaling renewed commitment to advancing the country’s long-term space ambitions. The directive issued during the first meeting of the National Space Council at the Presidential Villa in Abuja. Where the President was represented by Vice President…
The Federal Government has introduced new Presumptive Tax Rules aimed at simplifying tax compliance. f or micro, small, and medium enterprises (MSMEs) across Nigeria. The announcement made by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. As part of ongoing fiscal reforms designed to strengthen revenue generation without placing additional burden…
Two major telecom operators in Nigeria, MTN and Airtel, earned over N3.6 trillion from data services alone. Reflecting the country’s increasing demand for internet usage. In recent years, data has surpassed voice as the primary revenue source for mobile network operators. The latest financial reports from MTN and Airtel reveal that data revenue growth has…
President Bola Tinubu has nominated Taiwo Oyedele as minister of state for finance. The president forwarded Oyedele’s nomination to the Senate on Tuesday in a letter addressed to the president of the Senate, Godswill Akpabio, seeking confirmation. Oyedele will replace Doris Uzoka-Anite, who now moves to the Ministry of Budget and National Planning as minister…
Standard Chartered Bank Nigeria has officially shifted its local strategy toward premium and wealth banking. By introducing a N7.5 million minimum account balance (or equivalent assets under management) requirement for customers wishing to maintain retail accounts. Although, The policy, which took effect at the end of February 2026. Which led to the closure of accounts…
Justice Ambrose Lewis-Allagoa of the Federal High Court in Lagos has sentenced Otuorimuno Aziakpono. Identified as a fake brewer, to 40 years in prison for producing Counterfeit Alcohol Production of wines and spirits. Similarly, trader Ikegwuonu Ikechukwu received the same sentence for selling fake alcoholic beverages. The convictions came after both individuals pleaded guilty to…
President of the Dangote Group, Aliko Dangote, has announced ambitious plans. To expand the conglomerate’s footprint into steel production, electricity generation, and port development. Marking a major step in his long-term vision to fast-track industrialisation across Africa. Deepening Industrial Integration The proposed move into steel production is expected to complement the group’s existing investments in…
