Business Archives - TheCitizen - It's all about you https://thecitizenng.com/category/business/ Nigeria's leading online newspaper Mon, 26 Oct 2026 12:04:10 +0000 en-GB hourly 1 https://wordpress.org/?v=6.9.10 https://thecitizenng.com/wp-content/uploads/2017/04/cropped-TheCitizen-330x50-1-32x32.png Business Archives - TheCitizen - It's all about you https://thecitizenng.com/category/business/ 32 32 $242m Petroleum Products Diversion Claim: UBA secures court order against Vitol, four others https://thecitizenng.com/242m-petroleum-products-diversion-claim-uba-secures-court-order-against-vitol-four-others/ https://thecitizenng.com/242m-petroleum-products-diversion-claim-uba-secures-court-order-against-vitol-four-others/#respond Mon, 26 Oct 2026 12:04:10 +0000 https://thecitizenng.com/?p=287812 A Lagos State High Court, last Thursday, granted interim preservative orders of Mareva Injunction against Vitol SA – a Switzerland based Energy Trading company, and four other shipping companies in favour of United Bank for Africa Plc. The bank alleged Vitol of wrongful release of cargoes of petroleum products which were consigned to the order […]

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]]> https://thecitizenng.com/242m-petroleum-products-diversion-claim-uba-secures-court-order-against-vitol-four-others/feed/ 0 Barclays Bank to cut about 5,000 jobs amid AI drive https://thecitizenng.com/barclays-bank-to-cut-about-5000-jobs-amid-ai-drive/ https://thecitizenng.com/barclays-bank-to-cut-about-5000-jobs-amid-ai-drive/#respond Thu, 22 Oct 2026 18:09:17 +0000 https://thecitizenng.com/?p=287724 British bank Barclays announced on Thursday plans to cut around 5,000 jobs, or roughly five per cent of its global workforce, by the end of 2026 in an AI efficiency drive. The announcement came alongside an earnings update that showed Barclays’ net profit grew 13 per cent in the third quarter, fuelled by surging income […]

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]]> https://thecitizenng.com/barclays-bank-to-cut-about-5000-jobs-amid-ai-drive/feed/ 0 Aviation unions petition Presidency over Air Peace airside invasion https://thecitizenng.com/aviation-unions-petition-presidency-over-air-peace-airside-invasion/ https://thecitizenng.com/aviation-unions-petition-presidency-over-air-peace-airside-invasion/#respond Wed, 21 Oct 2026 13:52:19 +0000 https://thecitizenng.com/?p=287696 A coalition of aviation unions has petitioned the presidency over an alleged airside invasion by Air Peace Airlines at the Murtala Muhammed International Airport, Lagos, on 11 August 2026, demanding an urgent security investigation and prosecution of anyone found culpable. In a petition to the National Security Adviser,, the unions alleged that Air Peace management […]

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]]> https://thecitizenng.com/aviation-unions-petition-presidency-over-air-peace-airside-invasion/feed/ 0 Nigeria’s passport ranking falls to 181, visa-free access shrinks https://thecitizenng.com/nigerias-passport-ranking-falls-to-181-visa-free-access-shrinks/ https://thecitizenng.com/nigerias-passport-ranking-falls-to-181-visa-free-access-shrinks/#respond Tue, 20 Oct 2026 01:59:41 +0000 https://thecitizenng.com/?p=287655 Nigeria’s passport has again plunged from 90th position in July 2026 to 181st out of 196 countries in the latest IziVisa Passport Ranking Index, reflecting a significant decline in the number of destinations Nigerian passport holders can access without obtaining a visa in advance. According to data published on IziVisa.com, Nigerian passport holders can travel […]

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]]> https://thecitizenng.com/nigerias-passport-ranking-falls-to-181-visa-free-access-shrinks/feed/ 0 Marketers reject govt plan to cap petrol price https://thecitizenng.com/marketers-reject-govt-plan-to-cap-petrol-price/ https://thecitizenng.com/marketers-reject-govt-plan-to-cap-petrol-price/#respond Fri, 16 Oct 2026 06:47:48 +0000 https://thecitizenng.com/?p=287650 Petroleum marketers have rejected government-imposed N1,350 price caps on petrol, insisting that market forces, competition and improved distribution efficiency should determine prices in Nigeria’s deregulated downstream sector. The Major Energies Marketers Association of Nigeria (MEMAN) said arbitrary price caps would not address the underlying challenges in the petroleum market, advocating transparent pricing mechanisms and measures […]

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]]> https://thecitizenng.com/marketers-reject-govt-plan-to-cap-petrol-price/feed/ 0 Sahara champions global shipping collaboration for $20m Mercy Ships Healthcare Impact https://thecitizenng.com/sahara-champions-global-shipping-collaboration-for-20m-mercy-ships-healthcare-impact/ https://thecitizenng.com/sahara-champions-global-shipping-collaboration-for-20m-mercy-ships-healthcare-impact/#respond Tue, 13 Oct 2026 09:34:06 +0000 https://thecitizenng.com/?p=287589 Sahara Energy Geneva has highlighted the power of business collaboration to deliver lasting impact, with Mercy Ships Cargo Day celebrating more than $20 million raised over the past decade to support healthcare interventions in Africa. More than 500 guests from over 150 shipping and trading companies gathered in Geneva recently for the 10th anniversary Gala […]

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]]> https://thecitizenng.com/sahara-champions-global-shipping-collaboration-for-20m-mercy-ships-healthcare-impact/feed/ 0 Dangote Refinery extends IPO by two weeks  https://thecitizenng.com/dangote-refinery-extends-ipo-by-two-weeks/ https://thecitizenng.com/dangote-refinery-extends-ipo-by-two-weeks/#respond Mon, 12 Oct 2026 23:10:51 +0000 https://thecitizenng.com/?p=287559 Dangote Petroleum Refinery and Petrochemicals has extended the closing date of its Initial Public Offering (IPO) to Tuesday, October 27, 2026, following approval by the Securities and Exchange Commission (SEC), to accommodate growing investor interest across Africa and facilitate wider participation in the landmark share offer. The extension comes as President/Chief Executive of Dangote Industries […]

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]]> https://thecitizenng.com/dangote-refinery-extends-ipo-by-two-weeks/feed/ 0 TikTok denies restricting service in Kaduna, Kano, two others https://thecitizenng.com/tiktok-denies-restricting-service-in-kaduna-kano-two-others/ https://thecitizenng.com/tiktok-denies-restricting-service-in-kaduna-kano-two-others/#respond Mon, 12 Oct 2026 23:02:52 +0000 https://thecitizenng.com/?p=287554 TikTok has denied restricting access to its platform in parts of Northern Nigeria. TikTok’s Head of Communications for Sub-Saharan Africa, Keagile Makgoba, said this in a statement on Monday, amid reports of difficulties accessing the service. Makgoba said the company was engaging relevant stakeholders to resolve the reported access difficulties. “We can confirm that this […]

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]]> https://thecitizenng.com/tiktok-denies-restricting-service-in-kaduna-kano-two-others/feed/ 0 Aba firms report higher output, lower energy costs https://thecitizenng.com/aba-firms-report-higher-output-lower-energy-costs/ https://thecitizenng.com/aba-firms-report-higher-output-lower-energy-costs/#respond Mon, 12 Oct 2026 22:23:44 +0000 https://thecitizenng.com/?p=287530 Manufacturers and business owners in Aba, Abia State, have reported increased production, lower operating costs and longer business hours following improvements in electricity supply from Aba Power Limited, a subsidiary of Geometric Power. Geometric Power Group, founded by former Minister of Power, Prof Bart Nnaji, operates the 188-megawatt power plant in Aba through its subsidiary, […]

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]]> https://thecitizenng.com/aba-firms-report-higher-output-lower-energy-costs/feed/ 0 Another global mobility company exits Nigeria https://thecitizenng.com/another-global-mobility-company-exits-nigeria/ https://thecitizenng.com/another-global-mobility-company-exits-nigeria/#respond Fri, 09 Oct 2026 00:49:43 +0000 https://thecitizenng.com/?p=287437 Moove, the global mobility company founded in Lagos, has announced plans to end its operations in Nigeria. As part of its exit strategy, the company founded six years ago, said it will transfer full ownership of eligible vehicles “worth approximately N35 billion” to existing customers at no cost. The affected customers will take full ownership […]

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]]> https://thecitizenng.com/another-global-mobility-company-exits-nigeria/feed/ 0 Asharami Ghana commissions 6,000MT LPG storage facility, expands Ghana’s storage capacity by 10% https://thecitizenng.com/asharami-ghana-commissions-6000mt-lpg-storage-facility-expands-ghanas-storage-capacity-by-10/ https://thecitizenng.com/asharami-ghana-commissions-6000mt-lpg-storage-facility-expands-ghanas-storage-capacity-by-10/#respond Tue, 06 Oct 2026 15:48:39 +0000 https://thecitizenng.com/?p=287366 Asharami Ghana has commissioned a 6,000-metric-tonne Liquefied Petroleum Gas (LPG) storage facility at the Tema Oil Jetty, expanding Ghana’s LPG storage capacity by approximately 10 per cent and strengthening efforts to improve energy security and access to cleaner cooking fuel. The facility, which represents the first phase of a planned 12,000-metric-tonne terminal, forms part of […]

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]]> https://thecitizenng.com/asharami-ghana-commissions-6000mt-lpg-storage-facility-expands-ghanas-storage-capacity-by-10/feed/ 0 Dangote Refinery stops petrol sales to fuel importers https://thecitizenng.com/dangote-refinery-stops-petrol-sales-to-fuel-importers/ https://thecitizenng.com/dangote-refinery-stops-petrol-sales-to-fuel-importers/#respond Tue, 06 Oct 2026 14:01:13 +0000 https://thecitizenng.com/?p=287330 The Dangote Petroleum Refinery has finally stopped the sale of Premium Motor Spirit (Petrol) to major marketers importing petroleum products into Nigeria. An official of the refinery confirmed this to our correspondent, saying the refinery would no longer sell petrol to those blending Dangote fuel with imported grades. “We are not selling petrol to those […]

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]]> https://thecitizenng.com/dangote-refinery-stops-petrol-sales-to-fuel-importers/feed/ 0 North-East governors push FG to restart Borno oil exploration, back Kolmani revival https://thecitizenng.com/north-east-governors-push-fg-to-restart-borno-oil-exploration-back-kolmani-revival/ https://thecitizenng.com/north-east-governors-push-fg-to-restart-borno-oil-exploration-back-kolmani-revival/#respond Sun, 04 Oct 2026 15:23:14 +0000 https://thecitizenng.com/?p=287363 The North-East Governors’ Forum (NEGF) has called on the federal government to revive stalled oil exploration activities in Borno State, even as it commended President Bola Tinubu for the ongoing revival of the Kolmani oil drilling project in Gombe State. The appeal was part of a communiqué issued at the conclusion of the 13th regular […]

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]]> https://thecitizenng.com/north-east-governors-push-fg-to-restart-borno-oil-exploration-back-kolmani-revival/feed/ 0 MT Asharami Ghana delivers 5,000MT LPG cargo to Ghana, boosts energy security, regional trade https://thecitizenng.com/mt-asharami-ghana-delivers-5000mt-lpg-cargo-to-ghana-boosts-energy-security-regional-trade/ https://thecitizenng.com/mt-asharami-ghana-delivers-5000mt-lpg-cargo-to-ghana-boosts-energy-security-regional-trade/#respond Sat, 03 Oct 2026 12:04:41 +0000 https://thecitizenng.com/?p=287319 MT Asharami Ghana, a 40,000-cubic-metre Liquefied Petroleum Gas (LPG) carrier has delivered 5,000 metric tonnes of LPG in its maiden voyage to Ghana, boosting efforts to strengthen energy security, LPG supply reliability and position the nation as a strategic hub for regional energy trade. Purpose-built to serve Ghana and neighbouring markets, MT Asharami Ghana forms […]

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]]> https://thecitizenng.com/mt-asharami-ghana-delivers-5000mt-lpg-cargo-to-ghana-boosts-energy-security-regional-trade/feed/ 0 Community leaders, scholars applaud Egbin Power’s scholarship programme https://thecitizenng.com/community-leaders-scholars-applaud-egbin-powers-scholarship-programme/ https://thecitizenng.com/community-leaders-scholars-applaud-egbin-powers-scholarship-programme/#respond Fri, 02 Oct 2026 19:05:17 +0000 https://thecitizenng.com/?p=287315 Community leaders, stakeholders, and students have commended Egbin Power’s annual scholarship programme for its significant contribution to expanding access to quality education and promoting academic excellence among students in its host communities. The commendation came during the scholarship award ceremony at Egbin Power Clubhouse Auditorium, where stakeholders applauded the initiative for creating meaningful educational opportunities […]

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]]> https://thecitizenng.com/community-leaders-scholars-applaud-egbin-powers-scholarship-programme/feed/ 0 Nigeria, U.S. sign framework for $700 billion mineral investment https://thecitizenng.com/nigeria-u-s-sign-framework-for-700-billion-mineral-investment/ https://thecitizenng.com/nigeria-u-s-sign-framework-for-700-billion-mineral-investment/#respond Fri, 25 Sep 2026 06:39:07 +0000 https://thecitizenng.com/?p=287293 Nigeria and the United States have signed a landmark framework aimed at unlocking investment in Nigeria’s estimated $700 billion mineral resources and deepening bilateral cooperation in the critical minerals sector. Nigeria broke new ground in a drive to woo the United States to invest in the mining sector at a historic agreement-signing ceremony at Nigeria’s […]

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]]> https://thecitizenng.com/nigeria-u-s-sign-framework-for-700-billion-mineral-investment/feed/ 0 Gambia orders banks to replace foreign workers with locals https://thecitizenng.com/gambia-orders-banks-to-replace-foreign-workers-with-locals/ https://thecitizenng.com/gambia-orders-banks-to-replace-foreign-workers-with-locals/#respond Fri, 25 Sep 2026 06:00:51 +0000 https://thecitizenng.com/?p=287276 The Central Bank of The Gambia (CBG) has ordered commercial banks to replace non-Gambian employees who are not covered by approved expatriate quotas, a move that has sparked criticism over what some observers see as a retreat from West Africa’s free-movement ideals. The regulator has given banks until 31 December, 2026 to replace the affected […]

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]]> https://thecitizenng.com/gambia-orders-banks-to-replace-foreign-workers-with-locals/feed/ 0 Enugu Air opens international route to Cameroon, begins Enugu-Douala service https://thecitizenng.com/enugu-air-opens-international-route-to-cameroon-begins-enugu-douala-service/ https://thecitizenng.com/enugu-air-opens-international-route-to-cameroon-begins-enugu-douala-service/#respond Fri, 25 Sep 2026 05:46:04 +0000 https://thecitizenng.com/?p=287268 Enugu Air has commenced direct international flight operations between Enugu and Douala, Cameroon, opening a new regional air link from the South-East and strengthening Akanu Ibiam International Airport’s role as a gateway for international travel and commerce. The airline operated its maiden international flight on Wednesday, September 23, marking a major expansion of its operations […]

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]]> https://thecitizenng.com/enugu-air-opens-international-route-to-cameroon-begins-enugu-douala-service/feed/ 0 Dangote to support 2m women with refinery shares https://thecitizenng.com/dangote-to-support-2m-women-with-refinery-shares/ https://thecitizenng.com/dangote-to-support-2m-women-with-refinery-shares/#respond Tue, 22 Sep 2026 23:22:19 +0000 https://thecitizenng.com/?p=287217 The President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has said the Aliko Dangote Foundation will partner with state governments to help about two million vulnerable women acquire shares in Dangote Petroleum Refinery and Petrochemicals Limited. Dangote disclosed this in New York during the 81st United Nations General Assembly while responding to […]

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]]> https://thecitizenng.com/dangote-to-support-2m-women-with-refinery-shares/feed/ 0 CBN cuts interest rate to 23%, vows to contain election liquidity https://thecitizenng.com/cbn-cuts-interest-rate-to-23-vows-to-contain-election-liquidity/ https://thecitizenng.com/cbn-cuts-interest-rate-to-23-vows-to-contain-election-liquidity/#respond Tue, 22 Sep 2026 23:08:45 +0000 https://thecitizenng.com/?p=287210 The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has cut the benchmark interest rate by 350 basis points to 23 per cent from 26.5 per cent, as easing inflation and improved foreign exchange conditions created room for the biggest rate adjustment in the current monetary policy cycle. The CBN Governor, Olayemi […]

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]]> https://thecitizenng.com/cbn-cuts-interest-rate-to-23-vows-to-contain-election-liquidity/feed/ 0