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Nigerian giant Dangote Industries Limited (DIL) has been making headlines for some months now, mostly due to the opening of its new refinery. The $20 billion Dangote Oil Refinery, which started operating in January, has accused international oil companies (IOCs) of sabotaging its operations by refus

Fitch Ratings, an American credit rating agency, has downgraded the National Long-Term Rating of Dangote Industries Limited (DIL) from 'AA(nga)' to 'B+(nga)', citing a notable deterioration in the conglomerate's liquidity position. The downgrade also affects the senior unsecured debt rating issued b

Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos, has nullified the sale of Nigeria Air to Ethiopian Airlines by the ex-President Muhammadu Buhari-led administration. Justice Lewis-Allagoa also ordered the Federal Government to halt plans to establish a national carrier, Nigeria Air. T

The Minister of Steel Development, Prince Shuaibu Abubakar Audu, has said that the steel sector's ongoing reforms are expected to generate over 500,000 direct and indirect job opportunities nationwide. He appealed to Nigerians to suspend the nationwide protest against the current government, assurin

With over N1 trillion loss suffered by stock market investors in July, shareholders have urged the Federal Government to create grant incentives to listed firms to halt the slide. The post Shareholders worry over N1.1 trillion loss in equities

Foreign Exchange Spot and Derivatives markets turnover for the week ended August 2, 2024, was $1,087.33 million, representing a decrease of 16.5 per cent or $215.24 million from $1,302.57 million recorded on July 26, 2024. The post FMDQ FX turnover dips by 16.5 per cent in one week

Aviation stakeholders have submitted that the Minister of Aviation and Aerospace Development, Festus Keyamo, miscalculated by grounding Arik Air over a$2.5 million debt, noting that the Asset Management Company of Nigeria (AMCON) has an interest in the acquisition of assets of the airline. The post

Aviation stakeholders have asserted that the Minister of Aviation and Aerospace Development, Festus Keyamo, committed a blunder by grounding Arik Air over $2.5 million, given that the Asset Management Agency (AMCON) has an interest in the acquisition of the assets of the airline. They stressed the n

Holds consultative meetings with religious leaders Ondo State Governor, Lucky Orimisan Aiyedatiwa, yesterday, said that his administration had begun move to engage investors towards reviving the Ifon Ceramic Company, Okitipupa Oil Palm Limited, and other moribund industries across the state. Accordi