Business

TOP 10 BANKS IN NIGERIA BY SHAREHOLDERS FUNDS IN Q3 2024 In the third quarter of 2024, Nigerian banks experienced a remarkable 79% year-on-year surge in shareholder funds, which soared from N11.2 trillion in the same period the previous year to N20 trillion, reflecting a substantial increase.This growth, according to data from Nairalytics, is driven by the shareholder figures of …

l SEVEN FOUNDERS OF LOCAL AIRLINES IN NIGERIA’S $1.7B AVIATION INDUSTRY The Nigerian aviation sector, despite being a critical element in the country’s transportation system and economy, has not reached its full potential compared to other African nations. The International Air Transport Association (IATA) estimates that aviation supports $63 billion in economic activity across Africa. However, Nigeria’s aviation industry contributes …

PH REFINERY STILL OPERATING – ENGINEERS CLAIM The Nigerian Society of Chemical Engineers, NSChE, has insisted that the Port Harcourt Refinery is still operational and has continued to refine petroleum products. This is coming amid reports that the refinery has halted operations just days after the Nigerian National Petroleum Company (NNPC) Ltd revealed that it had fulfilled its pledge of …

NIGERIANS TO PAY MORE FOR MTN, GLO, AIRTEL CALLS FROM DEC, 13 The Nigerian Communications Commission (NCC) is set to release a new tariff plan for MTN, Airtel, Glo, and other telco operators on December 13, 2024. The development is part of the commission’s efforts to simplify tariff plans for telecom companies. NCC reveals reason for new tariff plans The …

PH REFINERY SHUTS DOWN MOMENTARILY The Port-Harcourt refinery of the Nigerian National Petroleum Company Limited (NNPCL) has shut down operation “at the moment” with only its non-petroleum unit running which is the Crude Distillation Unit (CDU), SaharaReporters can report. The CDU produces naphtha, kerosene and diesel but cannot produce the component which is needed for the Premium Motor Spirit (PMS) …

PH REFINERY HALTS OPERATIONS, LOADING BAY EMPTY The fanfare that greeted the resumption of activities at the Port Harcourt Refining Company on Tuesday may have melted away leaving the hope and expectations of many Nigerians hanging.A visit by Saturday PUNCH to the refinery on Friday revealed that there was no activity on site, as some workers met by our correspondent …

PH REFINERY: NNPCL WILL FURTHER SLASH PMS PRICE – PETROAN The President of the Petroleum Products Retail Outlet Owners Association, PETROAN, said it is working to ensure that Nigerian National Petroleum Company Limited further reduces the price of Port Harcourt Premium Motor Spirit (Petrol) from N1030 per litre in the coming days. The National President of PETROAN, Billy Gillis-Harry, disclosed …

FIT GROUP TO CONSTRUCT HILTON GARDEN INN IN ENUGU FIT Hospitality & Entertainment Limited, a subsidiary of the FIT Group of Companies Limited, is set to develop a 150-key Hilton Garden Inn Hotel in Heliu Business District, a commercial area of Enugu, as part of a move seen at playing big in the hospitality industry. The construction will be done …

PETROL PRODUCTION: CONTROVERSY SURROUNDS PH REFINERY, NNPCL The operational capacity of the recently rehabilitated Port Harcourt Refining Company faced significant scrutiny on Thursday.Allegations surfaced that petroleum products loaded from the facility on Tuesday were not newly refined but were, instead, products stored in its tanks for over three years. This situation has reignited skepticism surrounding the refinery, which has experienced …

200 TRUCKS LOAD AT PH REFINERY, 150,000 BPD, ELEME PLANT DORMANT After seven postponements, the Port Harcourt Refinery Company has finally commenced fuel production, promising a daily supply of about 200 trucks, as about one million litres of refined products were released by the plant on Tuesday.The Nigerian National Petroleum Company Limited unveiled the refinery on Tuesday, saying the old …