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....
BUSINESS
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...
Fuel queues have resurfaced within Lagos metropolis, due to hike in the pump price of petrol by the Nigeria National Petroleum Corporation Ltd., the News Agency of Nigeria (NAN) reports. NAN correspondent, who moved round the Lagos metropolis, observed that most filling stations had adjusted their pump price. The...
The Nigerian National Petroleum Company (NNPC) Ltd., has attributed the increase in the price of Premium Motor Spirit (PMS) also known as petrol to the market realities. The company’s Group Chief Executive Officer, Malam Mele Kyari, stated this in an interview with newsmen shortly after a private meeting with...
Nigerian National Petroleum Company Limited (NNPC Ltd) retail outlet has increased pump price in Abuja, Jos, and Lagos. The new pricing came into effect on Tuesday morning. Reports said that the NNPCL Retail outlet was now selling fuel at N617 per litre in Abuja. In a related development, the...
By PATRICK ABANG, Calabar – Cross River State Governor, Bassey Otu says he is impressed with ongoing work at the Obudu Cargo Airport, pledging his administration’s commitment to the completion of the project within the contractual timeframe. The governor was at the project site on an assessment tour of...
The Naira on Monday appreciated against the dollar, exchanging at N795.28 at the investors and exporters window. The Naira increased by 1.07 per cent when compared with N803.90 which it exchanged to the dollar on July 14. The open indicative rate closed at N782.79 to one dollar on Monday....
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says country’s petrol daily consumption figure stands at 46.38 million litres, due to subsidy removal by the Federal Government. Mr Ahmed Farouk, Chief Executive, NMDPRA, disclosed this during a stakeholders meeting with oil and gas downstream operators on Monday in...
Guaranty Trust Bank Ltd. has been recognised as the”Best Bank in Nigeria” at the Euromoney Awards for Excellence 2023. The bank said in a statement on Monday that the latest recognition underscored the bank as the leading financial institution in Nigeria. Announcing the award, Euromoney said: “Nigeria’s best...
The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate increased to 22.79 per cent in June 2023. The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for June, which was released in Abuja on Monday. According to the report, the figure is 0.38...
A financial expert, Mr Okechukwu Unegbu, has decried the proliferation of “loan sharks” in the Nigerian financial system, describing them as dangerous to the economy. Unegbu, a past president of the Chattered Institute of Bankers of Nigeria (CIBN), said this in an interview with the News Agency of Nigeria...
Founders of a new Mobile App codenamed “OLA”, say it is key to the attainment of Sustainable Development Goals (SDG) in Nigeria and Africa as a whole. Mr Philip Etim, founder of Spendify Technologies, who created the App, made the disclosure to newsmen in Lokoja on Saturday. He...
Customers of Guarantee Trust Bank (GTB) have been locked out of their app for more than 24 hours after the lender upgraded its mobile banking app. GTB, which is a subsidiary of Guaranty Trust Holding Company Plc, announced an app upgrade. The bank announced July 12, 2023, as the...
The Naira on Friday depreciated against the dollar, exchanging at N803.90 at the investors and exporters window. The Naira decreased by 7.72 per cent when compared with N746.28 for which it exchanged for the dollar on Thursday. The open indicative rate closed at N763.36 to one dollar on Friday....
The National Information Technology Development Agency (NITDA) says that digitalisation of Micro, Small and Medium Enterprises (MSMEs) could increase Nigeria’s Gross Domestic Product (GDP) by 50 billion US dollars. The Director-General, NITDA, Mr Kashifu Inuwa Abdullahi, said this during his visit to the GIZ/Digital Transformation Centre, Nigeria office as a special guest at its Techmybiz pitch-a-thon event...
By BARBARA KALU – The Mayor of Housing also known as My-Ace China (formerly, Aloy China Emeka), has declared that the economy of the South-South/South-East regions of Nigeria require branding to enable it grow and compete favourably with other parts of the country. Mr. China, a rising star in...
The Competition and Consumer Protection Tribunal (CCPT) sitting in Abuja on Thursday imposed a fine of N120 million against Stanbic-IBTC Bank over the bank’s failure to complete a transfer request for a customer. In a split decision of two to one, the tribunal convicted the bank for contravening the...
The President of African Development Bank (AfDB), Dr Akinwunmi Adesina, says lack of electricity among other factors limit industrial manufacturing in Nigeria. The AfDB President, said this while presenting a lecture at the Business Day Chief Executive Officers (CEO) Forum in Lagos. The lecture titled: “The Day the Lion...
By OLA MUDOPE, Lagos – The Nigeria Civil Aviation Authority (NCAA) has suspended the operations of all Boeing 737 aircraft in Max Air fleet. The suspension was issued through a letter dated July 12, and titled “Suspension of parts A3 and D43 of the Operations Specifications issued to Max Air with...