Business Archives - TheCitizen - It's all about you https://thecitizenng.com/category/business/ Nigeria's leading online newspaper Sun, 09 Aug 2026 23:41:45 +0000 en-GB hourly 1 https://wordpress.org/?v=6.9.4 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 Revoked Licences: NDIC begins payment to depositors of 46 defunct microfinance banks https://thecitizenng.com/revoked-licences-ndic-begins-payment-to-depositors-of-46-defunct-microfinance-banks/ https://thecitizenng.com/revoked-licences-ndic-begins-payment-to-depositors-of-46-defunct-microfinance-banks/#respond Sun, 09 Aug 2026 23:30:30 +0000 https://thecitizenng.com/?p=285895 The Nigeria Deposit Insurance Corporation (NDIC) has said that it has commenced payment of depositors of the 46 microfinance banks whose operating licences were revoked by the Central Bank of Nigeria (CBN) in July 2026. The Managing Director and Chief Executive Officer of NDIC, Mr. Thompson Sunday, disclosed this on yesterday during an interview with […]

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]]> https://thecitizenng.com/revoked-licences-ndic-begins-payment-to-depositors-of-46-defunct-microfinance-banks/feed/ 0 NCS uncovers 399 rifles in Tin Can port shipment https://thecitizenng.com/ncs-uncovers-399-rifles-in-tin-can-port-shipment/ https://thecitizenng.com/ncs-uncovers-399-rifles-in-tin-can-port-shipment/#respond Sun, 09 Aug 2026 23:16:46 +0000 https://thecitizenng.com/?p=285885 The Nigeria Customs Service (NCS) has uncovered 399 fully assembled Jojef firearms and assorted rifle parts following an examination of a seized shipment at the Tin Can Island Port Command. The service made this known in a statement by its National Spokesperson, Abdullahi Maiwada, on Sunday in Abuja. Maiwada said the seizure was confirmed on […]

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]]> https://thecitizenng.com/ncs-uncovers-399-rifles-in-tin-can-port-shipment/feed/ 0 Nigeria, Canada expand air agreement to allow direct flights https://thecitizenng.com/nigeria-canada-expand-air-agreement-to-allow-direct-flights/ https://thecitizenng.com/nigeria-canada-expand-air-agreement-to-allow-direct-flights/#respond Sat, 08 Aug 2026 14:37:29 +0000 https://thecitizenng.com/?p=285902 Nigeria and Canada have expanded their air transport agreement, paving the way for direct flights between the two countries for the first time. The federal government announced the updated agreement Thursday saying the move is aimed at improving connectivity, strengthening trade and investment, and creating new opportunities for airlines, businesses and travellers. Under the expanded […]

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]]> https://thecitizenng.com/nigeria-canada-expand-air-agreement-to-allow-direct-flights/feed/ 0 Dangote Refinery displaces US again as Europe’s leading JetA1 supplier https://thecitizenng.com/dangote-refinery-displaces-us-again-as-europes-leading-jeta1-supplier/ https://thecitizenng.com/dangote-refinery-displaces-us-again-as-europes-leading-jeta1-supplier/#respond Thu, 06 Aug 2026 23:47:12 +0000 https://thecitizenng.com/?p=285789 Dangote Petroleum Refinery has displaced the United States as Europe’s biggest supplier of jet fuel, popularly known as JetA1, for the second consecutive month. The refinery said this reinforced its growing influence in the international refined petroleum products market. Latest European import data compiled by global commodities intelligence firm Kpler showed that more than 400,000 […]

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]]> https://thecitizenng.com/dangote-refinery-displaces-us-again-as-europes-leading-jeta1-supplier/feed/ 0 Dangote Refinery cuts petrol, diesel prices https://thecitizenng.com/dangote-refinery-cuts-petrol-diesel-prices/ https://thecitizenng.com/dangote-refinery-cuts-petrol-diesel-prices/#respond Thu, 06 Aug 2026 00:59:42 +0000 https://thecitizenng.com/?p=285747 The Dangote Petroleum Refinery has reduced the ex-depot prices of Premium Motor Spirit (PMS), popularly known as petrol, and Automotive Gas Oil (AGO), also known as diesel, a move the company said is aimed at making petroleum products more affordable for Nigerians. Under the new pricing structure announced on Wednesday, the ex-depot price of petrol […]

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]]> https://thecitizenng.com/dangote-refinery-cuts-petrol-diesel-prices/feed/ 0 Air Peace begins Lagos-Conakry-Bamako flight operations https://thecitizenng.com/air-peace-begins-lagos-conakry-bamako-flight-operations/ https://thecitizenng.com/air-peace-begins-lagos-conakry-bamako-flight-operations/#respond Wed, 05 Aug 2026 09:51:43 +0000 https://thecitizenng.com/?p=285685 Air Peace said it has expanded its regional network with the commencement of scheduled flight operations on the Lagos-Conakry-Bamako route, a move which the company said is expected to boost trade, tourism and economic cooperation between Nigeria, Guinea and Mali. According to a statement by the airline on Monday, the inaugural flight departed the Murtala […]

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]]> https://thecitizenng.com/air-peace-begins-lagos-conakry-bamako-flight-operations/feed/ 0 Shell pledges support for Nigeria’s energy journey https://thecitizenng.com/shell-pledges-support-for-nigerias-energy-journey/ https://thecitizenng.com/shell-pledges-support-for-nigerias-energy-journey/#respond Tue, 04 Aug 2026 22:01:45 +0000 https://thecitizenng.com/?p=285640 Shell will continue to support Nigeria in its efforts to build a secure energy future through investments and efficient delivery of its businesses in Nigeria. “We continue to invest in Nigeria’s future through our projects, our people, and our enduring confidence in the potential of this nation,” General Manager, Development and Subsurface Shell Nigeria Deepwater, […]

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]]> https://thecitizenng.com/shell-pledges-support-for-nigerias-energy-journey/feed/ 0 Sahara Upstream deploys 380,000-Barrel MT D Adesanya to boost OML 18 capacity, sustainability https://thecitizenng.com/sahara-upstream-deploys-380000-barrel-mt-d-adesanya-to-boost-oml-18-capacity-sustainability/ https://thecitizenng.com/sahara-upstream-deploys-380000-barrel-mt-d-adesanya-to-boost-oml-18-capacity-sustainability/#respond Tue, 04 Aug 2026 21:52:17 +0000 https://thecitizenng.com/?p=285635 Sahara Upstream has deployed MT D Adesanya, a 380,000-barrel Medium Range (MR) tanker, to enhance crude oil evacuation capacity at OML 18, strengthen operational efficiency and advance sustainability across its marine logistics operations. The vessel, which has a capacity of more than 62,000 cubic metres of crude oil, will serve as an additional mother vessel […]

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]]> https://thecitizenng.com/sahara-upstream-deploys-380000-barrel-mt-d-adesanya-to-boost-oml-18-capacity-sustainability/feed/ 0 Shell bids farewell to Executive Vice President Nigeria and Country Chair Marno, as Elohor assumes role https://thecitizenng.com/shell-bids-farewell-to-executive-vice-president-nigeria-and-country-chair-marno-as-elohor-assumes-role/ https://thecitizenng.com/shell-bids-farewell-to-executive-vice-president-nigeria-and-country-chair-marno-as-elohor-assumes-role/#respond Fri, 31 Jul 2026 00:45:53 +0000 https://thecitizenng.com/?p=285557 Shell Companies in Nigeria on Tuesday night hosted outgoing Executive Vice President Nigeria and Country Chair, Marno de Jong to a rousing sendforth as former Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo) Elohor Aiboni returns from a foreign posting to take up the role. Stakeholders from government, the energy industry and […]

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]]> https://thecitizenng.com/shell-bids-farewell-to-executive-vice-president-nigeria-and-country-chair-marno-as-elohor-assumes-role/feed/ 0 NCC, REA sign MoU to drive digital infrastructure expansion through renewable energy https://thecitizenng.com/ncc-rea-sign-mou-to-drive-digital-infrastructure-expansion-through-renewable-energy/ https://thecitizenng.com/ncc-rea-sign-mou-to-drive-digital-infrastructure-expansion-through-renewable-energy/#respond Fri, 31 Jul 2026 00:40:19 +0000 https://thecitizenng.com/?p=285554 The Nigerian Communications Commission (NCC) and the Rural Electrification Agency (REA) have formalised a strategic partnership to accelerate the deployment of sustainable digital infrastructure across Nigeria through the integration of renewable energy solutions and telecommunications infrastructure. The partnership was sealed with the signing of a Memorandum of Understanding (MoU) at the NCC–REA Stakeholder Workshop held […]

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]]> https://thecitizenng.com/ncc-rea-sign-mou-to-drive-digital-infrastructure-expansion-through-renewable-energy/feed/ 0 Oando plans electricity generation from abandoned oil wells https://thecitizenng.com/oando-plans-electricity-generation-from-abandoned-oil-wells/ https://thecitizenng.com/oando-plans-electricity-generation-from-abandoned-oil-wells/#respond Sun, 26 Jul 2026 23:37:10 +0000 https://thecitizenng.com/?p=285452 Oando Energy Resources, a subsidiary of Oando Plc, has unveiled plans to generate electricity from abandoned oil wells through a pilot geothermal-style power project as part of efforts to expand Nigeria’s clean energy capacity and support the country’s gas-to-power agenda. According to a statement, the company disclosed this during a courtesy visit by its management […]

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]]> https://thecitizenng.com/oando-plans-electricity-generation-from-abandoned-oil-wells/feed/ 0 Dangote Refinery completes $2.5bn equity placement https://thecitizenng.com/dangote-refinery-completes-2-5bn-equity-placement/ https://thecitizenng.com/dangote-refinery-completes-2-5bn-equity-placement/#respond Thu, 23 Jul 2026 18:48:33 +0000 https://thecitizenng.com/?p=285397 Dangote Petroleum Refinery and Petrochemicals has completed a landmark $2.5bn private equity placement after the offer attracted demand more than three times the initial size. The company said the transaction, which achieved a 3.7 times subscription rate, resulted in the issuance and allotment of approximately $2.5bn in new equity. In a statement issued on Thursday, […]

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]]> https://thecitizenng.com/dangote-refinery-completes-2-5bn-equity-placement/feed/ 0 PFIPC scandal: How CBN opened domiciliary accounts for phantom agency https://thecitizenng.com/pfipc-scandal-how-cbn-opened-domiciliary-accounts-for-phantom-agency/ https://thecitizenng.com/pfipc-scandal-how-cbn-opened-domiciliary-accounts-for-phantom-agency/#respond Tue, 21 Jul 2026 00:38:49 +0000 https://thecitizenng.com/?p=285359 The Central Bank of Nigeria (CBN) on Monday said it had opened two foreign-currency domiciliary accounts for the controversial Presidential Foreign Investment Promotion Council (PFIPC). This is as the Chief of Staff to the President, Femi Gbajabiamila, appeared at the headquarters of the Independent Corrupt Practices and Other Related Offences Commission to testify in the […]

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]]> https://thecitizenng.com/pfipc-scandal-how-cbn-opened-domiciliary-accounts-for-phantom-agency/feed/ 0 Asharami Energy hits 6 million LTI-free man-hours, advancing Goal Zero Safety Culture https://thecitizenng.com/asharami-energy-hits-6-million-lti-free-man-hours-advancing-goal-zero-safety-culture/ https://thecitizenng.com/asharami-energy-hits-6-million-lti-free-man-hours-advancing-goal-zero-safety-culture/#respond Mon, 20 Jul 2026 23:56:02 +0000 https://thecitizenng.com/?p=285346 Asharami Energy Limited (AEL), Sahara’s upstream Exploration and Production business, through its subsidiary, Enageed Resources Limited (ERL), has achieved 6 million Lost Time Injury (LTI)-free man-hours in its OML-148 operations, reinforcing its commitment to operational excellence and safety leadership as Sahara Upstream targets 350,000 barrels of oil per day by 2030. LTI is a key […]

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]]> https://thecitizenng.com/asharami-energy-hits-6-million-lti-free-man-hours-advancing-goal-zero-safety-culture/feed/ 0 Sahara Group Foundation expands recycling, unlocks opportunities in Jigawa, Kaduna https://thecitizenng.com/sahara-group-foundation-expands-recycling-unlocks-opportunities-in-jigawa-kaduna/ https://thecitizenng.com/sahara-group-foundation-expands-recycling-unlocks-opportunities-in-jigawa-kaduna/#respond Mon, 20 Jul 2026 23:50:04 +0000 https://thecitizenng.com/?p=285341 Sahara Group Foundation has commissioned two new Sahara Go Recycling Hubs in Jigawa and Kaduna States, extending structured waste management and economic opportunity to communities in Northern Nigeria. The hubs, at Gidan Hakimi, Shuwarin Local Government Area, Jigawa State, and Asharami Retail Station, Badiko, Kaduna South Local Government Area, Kaduna State, are the Foundation’s 21st […]

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]]> https://thecitizenng.com/sahara-group-foundation-expands-recycling-unlocks-opportunities-in-jigawa-kaduna/feed/ 0 Poverty threatens 79% of Nigerians despite reforms – World Bank https://thecitizenng.com/poverty-threatens-79-of-nigerians-despite-reforms-world-bank/ https://thecitizenng.com/poverty-threatens-79-of-nigerians-despite-reforms-world-bank/#respond Thu, 16 Jul 2026 06:19:34 +0000 https://thecitizenng.com/?p=285237 Despite nearly three years of sweeping economic reforms by the Federal Government, about 79 per cent of Nigerians remain poor or vulnerable to falling into poverty, highlighting the country’s deepening social and economic challenges, new World Bank documents have shown. The findings are contained in the World Bank’s newly approved Country Partnership Framework for Nigeria, covering […]

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]]> https://thecitizenng.com/poverty-threatens-79-of-nigerians-despite-reforms-world-bank/feed/ 0 Dangote Refinery resumes petrol sales in dollars https://thecitizenng.com/dangote-refinery-resumes-petrol-sales-in-dollars/ https://thecitizenng.com/dangote-refinery-resumes-petrol-sales-in-dollars/#respond Tue, 14 Jul 2026 00:59:51 +0000 https://thecitizenng.com/?p=285185 Dangote Petroleum Refinery has switched payment for the sale of Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), and Aviation Turbine Kerosene (ATK) to U.S. dollar. The new policy, which took effect immediately, applies to both gantry and coastal product sales. Industry sources familiar with the refinery’s operations said the decision was driven by increasing […]

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]]> https://thecitizenng.com/dangote-refinery-resumes-petrol-sales-in-dollars/feed/ 0 Crude oil tops $80 as US revives Iran blockade https://thecitizenng.com/crude-oil-tops-80-as-us-revives-iran-blockade/ https://thecitizenng.com/crude-oil-tops-80-as-us-revives-iran-blockade/#respond Mon, 13 Jul 2026 23:38:06 +0000 https://thecitizenng.com/?p=285159 Cruse oil prices climbed above $80 per barrel on Monday after renewed military confrontation between the United States and Iran heightened concerns over shipping through the Strait of Hormuz, one of the world’s most critical oil transit routes. The latest escalation came as United States President Donald Trump announced plans to impose a 20 per […]

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]]> https://thecitizenng.com/crude-oil-tops-80-as-us-revives-iran-blockade/feed/ 0 Shell gets recognition for landmark achievements at NOG Energy Awards https://thecitizenng.com/shell-gets-recognition-for-landmark-achievements-at-nog-energy-awards/ https://thecitizenng.com/shell-gets-recognition-for-landmark-achievements-at-nog-energy-awards/#respond Thu, 09 Jul 2026 14:34:50 +0000 https://thecitizenng.com/?p=285087 Shell has won awards at the 25th edition of the Nigeria Oil and Gas (NOG) Energy Week Conference and Exhibition in Abuja in recognition of pioneering contributions to the energy industry in the country. It won the Equality in Energy award while a Shell company, Daystar Power was honoured with the Sustainability in Energy award. […]

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]]> https://thecitizenng.com/shell-gets-recognition-for-landmark-achievements-at-nog-energy-awards/feed/ 0 CBN warns against rejection of standard N100 notes https://thecitizenng.com/cbn-warns-against-rejection-of-standard-n100-notes/ https://thecitizenng.com/cbn-warns-against-rejection-of-standard-n100-notes/#respond Wed, 08 Jul 2026 14:01:17 +0000 https://thecitizenng.com/?p=285012 The Central Bank of Nigeria (CBN) has warned members of the public, businesses and financial institutions against rejecting the standard N100 banknote, stressing that it remains legal tender and that violators risk enforcement measures under the CBN Act. The clarification followed reports that some individuals and businesses had refused to accept the standard N100 note […]

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]]> https://thecitizenng.com/cbn-warns-against-rejection-of-standard-n100-notes/feed/ 0