Innoson Vehicle Manufacturing (IVM) says it would establish car fuel conversion in all its service centres before the end of 2023. Mr Cornel Osigwe, Head of Corporate Communications at Innoson Group, said this in an interview with the News Agency of Nigeria (NAN) on Monday in Onitsha. ...
BUSINESS
The Dangote Industries Limited (DIL) and the Niger State Government are strengthening ties towards exploring fresh investment opportunities in the State. Mr Mansur Ahmed, Dangote Group’s Executive Director, Government and Strategic Relations, stated this during the Dangote Special Day at the 20th Niger State National Trade Fair in Minna. H...
As the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) prepares for its July meeting, some financial experts have called for moderation in its policy decisions. The News Agency of Nigeria (NAN) reports that the CBN has announced that the 292nd meeting of the MPC...
The Nigerian National Petroleum Company Limited (NNPCL) has given reasons behind the payment of an interim dividend of N123 billion to the Federation Account Allocation Committee (FAAC) for the month of June. The News Agency of Nigeria (NAN) reports that FAAC had on Thursday shared N907 billion among the...
African Development Fund (ADF),aft the concessional lending arm for the African Development Bank (AfDB) Group, has approved $16 million for the creation of a Youth Entrepreneurship Investment Bank (YEIB) in Liberia. A statement issued on the AfDB website said the fund was approved to unleash the business potential of...
By TENEBE ANTHONIA, Lagos – F Nigerian Exchange Limited (“NGX”) has announced the reclassification of Fidelity Bank Plc from Small price stock to Medium price stock. Rule 15.29 of the Rulebook of The Exchange, 2015 (Dealing Members’ Rules) noted that equities priced above N5 per share for...
The Nigerian National Petroleum Company (NNPC) Ltd. and UTM Offshore Ltd. on Thursday signed the Heads of Terms Agreement to provide clean energy to Nigerians through the UTM FLNG Project. The signing ceremony, which took place in Abuja, allows 20 per cent equity contribution of the NNPCL in the...
The Federation Account Allocation Committee (FAAC) has shared a N907.05 billion June Federation Account revenue to the Federal Government, states and Local Government Councils (LGCs) This was disclosed in a communiqué issued at the end of the FAAC meeting for July on Thursday in Abuja. The meeting was chaired...
The Naira on Thursday appreciated against the dollar, exchanging at N768.16 at the Investors and Exporters window. The Naira gained by 3.22 per cent when compared with N793.70 for which it exchanged for the dollar on Wednesday. The open indicative rate closed at N787.13 to the dollar...
High-level sources in NNPC Ltd. have come out in full force, to explain the operations of the company against the backdrop of “blatant misinformation’’ on the activities of the firm. The News Agency of Nigeria (NAN) learnt on Thursday in Abuja that the gesture is aimed at facilitating better...
FBN Holdings Plc says it has recorded a profit before tax of N206 billion for the first half of 2023 financial year. The holding company said this in its unaudited financial results on Thursday in Lagos. The holding company also recorded a growth of N656.6 billion in...
The House of Representatives has urged the Central Bank of Nigeria (CBN) to reveal without delay, all the interests and principal sums on the investments in the Excess Crude Account (ECA) Petroleum Profits (PTT) and Royalty Account to the Auditor-General for the Federation’s Office. The call was sequel to...
By JOY ADARA, Abuja – The Federal Inland Revenue Service (FIRS) has announced a total tax revenue collection of N5.5 trillion for the half-year period of January to June 2023. This is the highest tax revenue collection ever recorded by the Service in any first six months of...
Emadeb Energy Service Ltd., a depot owner and licensed fuel marketer, has received a shipment of 27 million litres of petrol at its Ijegun Satellite Depot in Lagos. The Chief Executive Officer, Mr Debo Olujimi, made this announcement during the inaugural ceremony. The importation, costing over $17 million...
By BARBARA KALU, Owerri – The Federal Government has been called upon to immediately consider investing the savings from fuel subsidy in making Compressed Natural Gas (CNG) usage a common energy commodity in the country so that it becomes a matter of choice to use gas or petrol. A...
The Nigerian Export Promotion Council (NEPC) on Wednesday in Abuja said that Nigeria targets to earn five billion dollars from the outsourcing industry in 2024. The Executive Director of NEPC, Dr Ezra Yakusak said this at the National Conference on International Trade-in-Service organised by the council, on Wednesday in...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the hike in the price of products due to abrupt removal of subsidy was threatening the survival of their businesses. Mr Chinedu Anyaso, Chairman of IPMAN Enugu Depot Community said average sales had dropped by about 50 percent...
Emadeb Energy Service Ltd., a depot owner and one of the marketers licensed to import fuel, has taken delivery of 27 million litres at its depot. Its Chief Executive Officer, Mr Debo Olujimi, disclosed this during the inaugural ceremony at its Ijegun Satellite Depot on Wednesday in Lagos....
By DAVID IORJA, Abuja – The Vice President, Sen. Kashim Shettima has assured Nigerians of the determination of the Tinubu administration to continue to develop economic policies and programmes that will drive investments and create more jobs especially in agriculture and the digital sector. The Vice...
Mrs Oludolapo Adigun, Group Head, Retail Banking, South, FirstBank, has advised Small and Medium-sized Enterprises (SMEs) to see opportunity in adversity and make good use of it to stay strong in business. Adigun gave the advice at a SMEConnect webinar, organised by the FirstBank for individuals and business owners...