Business Archives - Page 8 of 24

Sep

04

2024

Bill Gates, Dangote, Others Attend National Economic Council Meeting at Aso Rock

Business, Economy, News, PoliticsBusiness, Economy

Aliko Dangote, Chairman of the Dangote Group, and Bill Gates, Co-Chair of the Bill and Melinda Gates Foundation, are attending the National Economic Council (NEC) meeting at the Presidential Villa in Abuja. The meeting, chaired by Vice President Kashim Shettima, is taking place in the Council Chambers. Their presence is likely linked to their foundations' efforts to eradicate wild poliovirus in Nigeria. The meeting comes amid widespread concern over the recent fuel price hike, which has sparked national outrage. In addition to Dangote and Gates, several state governors are in attendance, including Babagana Zulum (Borno), Bala Mohammed (Bauchi), Abdullahi Sule…

Aug

31

2024

By Amos Oge Kalu

Belemaoil Appoints New CEO, CFO to Drive Transformation and Growth

Business, Economy, News, SponsoredBusiness, Economy

Indigenous global oil firm, Belemaoil Producing Limited, has announced the appointment of Ahmadu H. Sambo as its new Managing Director/Chief Executive Officer and Emmanuel O. Onos as its Chief Finance Officer. The appointments aim to drive the company's transformation and realize its shared vision. Sambo, a former Group General Manager (GGM) of Finances at NNPC, brings over 35 years of experience in the oil and gas industry. Onos, the new CFO, has over 35 years of experience in the financial space of the oil and gas industry. The board of directors expressed confidence in the new appointees, stating that they…

Aug

31

2024

By Amos Oge Kalu

Nigeria’s naira crude revolution – By abiodun KOMOLAFE

Business, Column, Economy, News, PoliticsBusiness, Economy, Opinion, Politics

Assuming no unforeseen circumstances, Dangote Refinery is expected to make its first delivery of refined premium motor spirit, pms, to the Nigerian market by September 2024. The Federal Government has also announced that sales of crude oil to Dangote and other local refineries will begin on October 1, 2024. To address concerns about pump prices and dollar-naira exchange rates, the Federal Executive Council approved a plan. The plan offers 450,000 barrels for domestic consumption in naira to Nigerian refineries, with Dangote Refinery as the pilot. To begin with, this directive to the Nigerian National Petroleum Company Limited (NNPCL) marks a…

Aug

28

2024

By Amos Oge Kalu

Seun Kuti Expresses Outrage Over GT Bank’s Account Opening Requirement in London

Entertainment, Lifestyle, NewsBusiness, Entertainment

Renowned Nigerian musician Seun Kuti has voiced his frustration and disappointment after being told by GT Bank in London that he needs at least £50,000 to open an account. Kuti took to social media to express his outrage, questioning the bank's requirement and highlighting the perceived unfairness towards Black people. "When did Black people become that rich?" Kuti asked, emphasizing the unattainable nature of the requirement for many individuals. His comments have sparked a conversation about financial inclusion and the barriers faced by marginalized communities in accessing banking services."

Aug

28

2024

By Amos Oge Kalu

SA’s Johann Rupert Overtakes Aliko Dangote as Africa’s Richest Person

Business, Economy, Lifestyle, NewsBusiness, Dangote, Economy, South Africa

In a significant shift in the rankings of Africa's wealthiest individuals, South African billionaire Johann Rupert has surpassed Nigerian business magnate Aliko Dangote to become the continent's richest person. According to recent estimates, Dangote's net worth has declined by over $1 billion, primarily due to the impact of the COVID-19 pandemic on his business interests. Meanwhile, Rupert's net worth has seen a notable increase, driven by the strong performance of his luxury goods company, Richemont, and other investments. As a result, Rupert's net worth now stands at an estimated $10.5 billion, eclipsing Dangote's net worth of $9.5 billion. This change…