BUSINESS

How Dangote Refinery signed contract with Vitoil to sell Naira purchased crude as dollar denominated fuel cargoes – Investigation

Daily Dispatch November 20, 2024

Investigation has revealed that billionaire ɓusinessman and owner of Dangote Refinery, Aliko Dangote has signed a contract with Vitoil for 5 cargoes of 38,000 metric tonnes per cargo. One of them is the CL Jane Austen tracked by Bloomberg. By this, the Dangote Refinery has altered the Federal

BUSINESS

South Africa Becomes The First African Nation To Lead G20

Daily Dispatch November 20, 2024

South Africa has assumed the presidency of the G20, becoming the first African nation to lead the influential bloc of the world’s largest economies. The handover ceremony took place on Tuesday during the G20 summit in Rio de Janeiro, Brazil. Brazilian President Luiz Inácio Lula da Silva officially transferred leadership to South African President Cyril […]

BUSINESS

UBA To Empower MSME’s with Wealth Management Strategies, Hosts Last Business Series of the Year

Daily Dispatch November 19, 2024

UBA To Empower MSME’s With Wealth Management Strategies at ‘Built to Last’ Series As part of its commitment to deepen the growth and sustainability of micro, small and medium-scale enterprises (MSMEs) on the continent, Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to host the last edition of its quarterly business series […]

BUSINESS

China Advises Nigeria to Prioritize Investment in Tourism For Economic Growth

Daily Dispatch November 19, 2024

China has advised Nigerian government to prioritize investments in safety, infrastructure, and tourism promotion to drive economic growth and development in the country. The advice was given on Tuesday in Abuja by the Cultural Counselor of the Chinese Embassy in Nigeria and Director of the China Cultural Centre, Mr. Yang Jianxing, while presenting his remarks […]

BUSINESS

How proposed tax reforms will address current imbalance – FIRS Chair, Zacch Adedeji

Daily Dispatch November 19, 2024

The FIRS Chairman explained that the current VAT sharing arrangement primarily benefits Lagos, the FCT, and Rivers—states where most corporate head offices are located. He further noted that the proposed reforms aim to address this imbalance by introducing a derivation principle model, ensuring a more equitable distribution of VAT revenues to all states, regardless of […]

BUSINESS

UBA to Raise N239.4bn Through Rights Issue + New Best Deal For Shareholders

Daily Dispatch November 14, 2024

Africa’s Global Bank, United Bank for Africa (UBA) Plc, will raise N239.4 billion through a Rights Issue of 6,839,884,274 ordinary shares of 50 kobo each at N35.00 per share. The Rights Issue, which opened on Friday, November 15, 2024, gives existing shareholders the opportunity to purchase additional shares in proportion to their current holdings and […]