The Chief Executive Officer of Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), Mr Farouk Ahmed, has urged petroleum products dealers to operate within the regulatory space. Ahmed said this on Wednesday at a stakeholders engagement on Gas Utilisation in Nigeria held in Enugu, Nigeria. The CEO, whose speech...
BUSINESS
Transnational Corporation Plc (Transcorp), Nigeria’s largest listed conglomerate held its 17th Annual General Meeting (AGM) and declared a dividend of 5k per share, a 150% increase over the previous year’s dividend. Transcorp, which has nearly 300,000 shareholders, made history as it held its AGM virtually, making it the first...
The Central Bank of Nigeria (CBN) has assured Nigerians of safety of their money in banks through operation of the e-naira. taken its e-Naria digital currency policy sensitisation to community comprising students, teaching and non teaching staff. Mr Chika Ugwueze, Assistant Director Payments System Management Department, CBN, Abuja, disclosed...
WhatsApp users can now access their individual accounts on as many as four phones, Meta Platforms CEO Mark Zuckerberg announced Tuesday. Meta is the parent company of WhatsApp, Facebook and Instagram. “Starting today, you can log into the same WhatsApp account on up to four phones,” Zuckerberg posted on...
As competition for skilled workers continues to rise globally, while populations in rich and middle-income countries age, the World Bank says migration can be a powerful force for prosperity and development if managed properly. This is contained in a new report from the World Bank, which also states that...
The Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh, says the maritime industry in Nigeria is large enough to sustainably engage teeming youths. Jamoh disclosed this on Tuesday when he received retired Maj.-Gen. Barry Ndiomu (Rtd), the Interim Administrator of the Presidential Amnesty Programme (PAP). He noted...
The Niger Delta Development Commission (NDDC), has signed a memorandum of understanding with the United States Consulate and a United States-based firm, Atlanta Global Resources Inc., AGRI, to build a railway network that will connect the nine states of the Niger Delta region. The ceremony, which was a part...
By CALLISTUS OFFOR, Abuja – The Nigerian Communications Commission (NCC), has reacted to a news story carried by an online publication with a headline titled: “NCC Incurs a Deficit of N17bn, Spending N35.2bn on Personnel, Consultancy Fees,” describing it as untrue. In a statement on Tuesday by its Director,...
Seplat Energy, Nigeria’s biggest oil and gas company by market value, reported a 39 per cent improvement in after-tax in naira terms for the first nine months of the year, its unaudited results issued on Monday showed. The oil driller, which is listed in Lagos and London, however,...
By OLA MUDOPE, Lagos – Africa must use all its comparative advantages to mobilise the resources it needs to finance its sustainable development ambitions. The African Development Bank (AfDB) Group made the call in a statement on its website on Tuesday. The statement reported the Organisation for Economic Co-operation...
The Nigerian National Petroleum Company Limited (NNPC Ltd) says it has so far spent over 1.1 billion dollars on the ongoing construction of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and Station project from its cash-flow. The NNPC Limited GCEO, Malam Mele Kyari said this on Monday while touring some of...
Africa is touted as the next frontier in global ecommerce on account of its growing youth population. But with serial losses being recorded by some of the ecommerce giants on the continent, particularly Jumia, market analysts foresee a dip in fortunes in the coming years. Recent news from Kenya...
The World Bank on Friday released its 2023 Logistics Performance Index (LPI) report, urging developing economies to boost their economic growth through improvements in logistics for goods transportation. The report is a measure of countries’ ability to move goods across borders with speed and reliability. This is contained in...
Kogi has begun talks with Chinese construction giant, China Civil Engineering and Construction Company (CCECC) for the construction of an inland transit port in Lokoja. The port will serve as a link between Burutu in Delta and Port Harcourt via Onitsha. Mr Onogwu Mohammed, media aide to Gov. Yahaya...
Shell Petroleum Development Company Nigeria Limited, TechnoOil Group, Schlumberger and other international and indigenous oil and gas companies emerged winners at the sixth edition of the Nigeria International Energy Summit (NIES 2023) Industry Awards. The annual prestigious NIES Energy Industry Awards is bestowed on individuals and organizations that cemented...
By EZEKIEL OBI, Abuja – The Federation Account Allocation Committee (FAAC) shared N714.629 billion to the three tiers of government in Abuja on Wednesday as federation allocation for the month of March. This is contained in a communiqué issued at the end of the FAAC meeting for April. Its...
The Nigerian National Petroleum Company Limited (NNPC Ltd), says that energy security will rightly be achieved by the realisation of Nigeria’s Decade of Gas Initiatives inaugurated in 2021 by President Muhammadu Buhari. Malam Mele Kyari, Group Chief Executive Officer, NNPC Limited, said this on Wednesday in Abuja at the...
By JOY ADARA, Abuja – The Debt Management Office (DMO) has debunked a media report that Nigeria defaulted in loans repayments to China. Recalled that media reports making the rounds have alleged that Nigeria failed to fully service its debt to China, which had accumulated to N110.31 billion in...
9mobile, a telecommunications company, on Tuesday says it has invested N70 billion on its ongoing network modernisation. 9mobile, in a statement made this known during its annual Channel Partners Conference held recently in Lagos. The Chief Executive Officer of 9mobile, Juergen Peschel, said additional 600 new sites, equipped with...
Offices of various aviation agencies in Lagos were shut on Tuesday as aviation sector workers embark on a warning strike, The News Agency of Nigeria (NAN) reports that offices shut were those of the Ministry of Aviation, the Nigeria Airspace Management Agency, the Federal Airports Authority of Nigeria and...