Business News

Italy's Eni has agreed to sell its Nigerian onshore subsidiary to local company Oando, the two companies said on Monday, the latest international energy giant to divest onshore assets in the West African country. With the deal on its Nigerian unit Agip Oil Company Ltd (NAOC), Eni takes another step in its long-term strategy to reduce oil exposure in favour of natural gas following its disposal in June of oil activities in Congo Republic. The Italian group will keep its offshore activities in Nigeria. The acquisition of NAOC Ltd will nearly double Oando's reserves to 996 million barrels of oil…
Over the years, I have personally witnessed counter-productive thinking patterns that hold people back (many of them my own coaching clients). Some examples include lacking emotional intelligence or leading through coercion. But there's one specific mindset that demands attention. I've seen it stifle collaboration and slow down their own and other people's productivity on the job. It's often what answers the question, "Why aren't things working the way I planned?" There's only one word for it: Perfectionism. Perfectionism is a thinking pattern that can be harmful to a team, even if it often goes unnoticed. It usually partners with denial,…
Oil marketers, on Sunday, confirmed that they have received the nod of domestic and international financiers to develop about 30,000 gas stations nationwide. It was also gathered that many of the stations are currently being converted to start dispensing gas, following the decision of the Federal Government to deploy about 11,000 vehicles to run on Compressed Natural Gas, as part of plans to cushion the removal of fuel subsidy. Providing updates on the move by marketers to build about 30,000 gas stations to cushion the effects of fuel subsidy removal, National President, Independent Petroleum Marketers Association of Nigeria, Chinedu Okonkwo,…
Are you tired of striving for consistent growth, trying to figure out a hundred different ways to grow your business by 10 or 20 percent year after year? Well, here's a radical idea: What if I told you that achieving 10x growth might be easier and more straightforward than you think? In a world with so many avenues for business growth, I recently stumbled upon a refreshing and truly profound concept in Dan Sullivan and Benjamin Hardy's latest book, 10x Is Easier Than 2x. I'll admit the title had me skeptical at first, but knowing that it was devised by…
While mistakes can help you grow, some errors are undeniably dangerous. Mistakes may be useful, but aren’t some less desirable than others? And doesn’t high performance—something most of us aspire to—mean making fewer mistakes? Rather than making blanket statements about mistakes being all good or all bad, it is helpful to differentiate between different kinds of mistakes and clarify which mistakes we want to pursue and how, and which mistakes we want to try to avoid. Sloppy mistakes Your heart seizes up when you see what just happened. You “replied all” to your entire company when you meant to write…
Nigerian producers want the central bank to set a trading band for naira to help stem weakness in the currency and reduce the impact on manufacturing costs. Manufacturers Association of Nigeria, a industry body, said limited dollar liquidity and high exchange rate costs had weakened industrial production since currency reforms were announced in June. “Despite the recent reform to unify all forex windows, the exorbitant premium that persists between the official and parallel exchange rates have further stalled manufacturing operations,” it said in emailed report on Wednesday. “The short-term remedy will require managing the floating exchange rate system.” The government…
There are a number of ways you can build wealth, from founding a successful start-up to receiving a hefty inheritance. For the everyday consumer, though, becoming wealthy usually requires a longer-term strategy. That can include a number of components, such as budgeting, investing and managing your money well. The most important factor in building wealth: your salary, according to 67% of both millennials and Gen Zers, a recent survey from financial services company Empower found. The younger generations chose salary above other wealth-building factors such as being debt-free, job stability and living below your means. While earning a high salary…
Foreign investment in Nigerian stocks fell last month to its lowest level since President Bola Tinubu’s reforms that sparked a massive rally in the equities market, new data from the nation’s bourse show. The total amount of stocks bought by foreign investors plunged to N9.45 billion from N22.72 billion in June, according to data from the Nigerian Exchange Limited (NGX). Stocks worth N31.09 billion were offloaded by foreigners in July, compared to an outflow of N23.02 billion in the previous month. Foreign inflow into Nigerian stocks had jumped more than seven-fold in May to N27.51 billion, its highest level since…
Flour Mills of Nigeria Plc, the West African nation’s biggest miller, reported its first loss in about four years as naira’s depreciation increased the company’s cost of servicing overseas loans. The Lagos-based company reported a loss of 10.2 billion naira ($13.2 million) in the three months to June 30, compared with a profit of 5.63 billion naira a year ago, according to a regulatory filing. The firm posted a foreign-exchange loss of 22.5 billion naira. “Without the devaluation of the exchange rate, the operating profit would have increased by 52%,” Flour Mills said. Six of the nation’s biggest companies announced…
Few names command as much respect and admiration as Warren Buffett in business and investment. The "Oracle of Omaha" is known for his exceptional investment prowess and his unwavering commitment to ethical practices. One of the most crucial lessons he imparts is the significance of hiring people with integrity. He often cites the quote, "In looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don't have the first, the other two will kill you." For Buffett, integrity isn't just a nice-to-have quality; it's a non-negotiable foundation on which successful companies are built.…
May 15, 2025

Decision making rule that helps you focus, make smarter choices, and think like a CEO

Marcel Schwantes Having coached executive leaders for two decades, I know they are bombarded with…
May 12, 2025

Northern leaders demand urgent action on insecurity, push for state police

Amid worsening insecurity across Nigeria, the 19 Northern governors and traditional rulers have called for…
May 14, 2025

The dark side of ambition - Tomas Chamorro-Premuzic

Ambition is one of the most defining forces in human affairs—a psychological engine that propels…
May 10, 2025

Town residents involutarily get high after Police burn 20 tons of confiscated cannabis

The 25,000 residents of Lice, a town in Turkey’s Diyarbakır province, involuntarily got high after…
May 14, 2025

Boko Haram, ISWAP terrorists attack four military bases in Borno within 24 hours, soldiers killed

Tension is rising in Borno State after Boko Haram and ISWAP insurgents attacked four military…
May 15, 2025

What to know after Day 1176 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Kremlin names delegation for Ukraine talks Russian President Vladimir Putin late on Wednesday…
May 11, 2025

African diet – plantains and cassava can be as healthy as tomatoes and olive oil,…

Plantains, cassava and fermented banana drink should be added to global healthy eating guidelines alongside…
May 13, 2025

Nigeria's Flying Eagles qualify for World Cup after dramatic win over Senegal

Nigeria's U-20 national football team, the Flying Eagles, have secured their place at the 2025…

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