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Elon Musk becomes world’s first trillionaire, as successful SpaceX IPO shoots net worth above $1.1trn
South African-born tech magnate, Mr Elin Musk has (on paper) become the world’s first trillionaire. The feat follows the businessman’s initial public offering (IPO) of his company, SpaceX’s shares soaring his net worth when it hit the stock market. The…
Bonny Terminal leads production streams, as Nigeria surpasses OPEC crude oil quota in May
Nigeria’s crude oil output surpassed its Organisation of the Petroleum Exporting Countries (OPEC) quota in May 2026, as the Bonny Terminal led production streams, according to data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The development saw the…
Nigeria records N35trn in foreign trade Q1, 2026, as export rises by 2.8%
National Bureau of Statistics (NBS) says the country recorded a total of N34.78 trillion worth of foreign trade in the first quarter (Q1) of 2026, while exports accounted for 60.85 per cent total trade with a value of N21.16 trillion….
Ibom Air moves to Uyo int’l airport hub, June 14
Ibom Air has announced that all its flight operations will be moved to the newly-completed ultra-modern terminal at the Victor Attah International Airport, Uyo, effective June 14, 2026. The airline disclosed the development in a travel advisory issued to passengers,…
Senate passes bill to promote alternative financing options for MSME operators, trade
Senate, Wednesday, passed the Factoring, Assignment and Receivables Financing Bill 2026, aimed at improving access to finance, modernise commercial transactions and enhance Nigeria’s competitiveness in regional and global trade. The bill is also designed to expand the framework of financing…
FCCPC denies FG directive approving 9 new airtime credit operators
Federal Competition and Consumer Protection Commission (FCCPC) has dismissed reports claiming federal government, through the agency, has approved the entry of nine new operators into Nigeria’s airtime credit market. It would be recalled that the Wireless Application Service Providers Association of…
Rewane, Moghalu get FCMB, Bluecode Africa appointments
First City Monument Bank (FCMB) Limited has appointed Bismarck Rewane as a Non-Executive Director and Chairman of its Board of Directors, following approval from the Central Bank of Nigeria (CBN). This is also as Bluecode Africa, the European payments infrastructure operator…
Bid submissions for 2025 licensing round ends on June 12 — NUPRC
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has affirmed that submission of technical and commercial bids by prequalified applicants for the 2025 licensing round will end on Friday, June 12. NUPRC had fixed 4:30 pm of Friday, June 12, 2026 as deadline…
FG launches EMERGE scheme to fund mineral exploration, research
Federal Government has launched the Early-Stage Mineral Exploration and Research Grant Endowment (EMERGE), a new funding initiative designed to support mineral exploration, critical minerals development, and geoscience research across Nigeria. This is also as the minister of Solid Minerals Development,…
NGX trading remains bullish, as market capitalisation closes at N156.79trn
Trading, Wednesday, at the Nigerian Exchange (NGX) continued its bullish run as the all-share index (ASI) of listed equities closed higher by 0.31 per cent. Investor sentiment was strong, pushing market capitalisation up by N480.15 billion to close at N156.79 trillion…
