The Central Bank of Nigeria (CBN) has said that the newly inaugurated Dangote Petroleum Refinery and Petrochemicals will help Nigeria generate more power for its electricity sector. Speaking today at the inauguration in Lagos State, Governor of the apex bank, Mr Godwin Emefiele, said the Dangote Refinery is expected...
BUSINESS
OPEC Secretary – General, Haitham Al Ghais on Monday said that underinvesting in the oil and gas sector could cause market volatility in the long term and imperil growth. He also said that the world needs to focus on reducing green house gas emissions rather than replacing one form...
By OLA MUDOPE, Lagos – The President and CEO, of Dangote Industries Limited, Aliko Dangote has commended President Muhammadu Buhari led Federal Government for its supports towards the creation of the Dangote Petroleum Refinery and Petrochemicals plant. Alhaji Dangote in a tweet on Monday, also appreciated the President-elect, Bola...
The Registrar-General, Corporate Affairs Commission (CAC), Alhaji Garba Abubakar, says funding is one of the major challenges of the commission. Abubakar told newsmen in Abuja that the recent government policy was not favourable and had impacted negatively on the commission. “The major challenge is funding. Government policies have actually...
In what could be described as a game-changing achievement, the Dangote Refinery, established by Africa’s richest man, Aliko Dangote, is set to begin operations and meet Nigeria’s fuel supply requirement. The refinery, located in the Dangote Industries Free Zone, Ibeju-Lekki, Lagos, Nigeria, has been designed to process crude oil...
Mr. Clement Isong, Chief Executive Officer(CEO), Major Oil Marketers Association of Nigeria (MOMAN), says Dangote Refinery through its production and ancillary industries will contribute significantly to the nation’s economic growth. Isong said this in an interview with the News Agency of Nigeria (NAN) on Sunday in Lagos. Isong also...
By JOY ADARA, Abuja – The Managing Director of the Nigeria Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba, has ascribed the huge investment in the Dangote Refinery, one of Nigeria’s flagship free trade zones, to the unrivaled patriotic posture of the African richest man, Alhaji Aliko Dangote. Adesugba,...
The Minister of State for Budget and National Planning, Prince Clem Agba says that the World Bank has extended the federal government’s COVID-19 Action Recovery and Economic Stimulus (NG CARES) Programme by 12 months. Agba, represented by Rev. Aso Vakporaye, the Chairman, Federal CARES Technical Committee disclosed this at...
Gov. Babajide Sanwo-Olu of Lagos State says his administration will convert some skill acquisition centres in the state to Eko Creation Innovation Hubs. Sanwo-Olu said this on Friday in Ikorodu, during the inauguration of SAIL (Senator Abiru Innovation Lab), an initiative of Sen. Tokunbo Abiru, the senator representing Lagos...
By EMMANUEL KUJE, Abuja – Stakeholders in the aviation industry have urged the Nigeria Government to aim at leading the air transport industry in Africa. They made the call in a communique issued at the end of the second annual Federal Airports Authority of Nigeria (FAAN) National Aviation Conference...
The National Bureau of Statistics (NBS) says the average retail price of a litre of petrol witnessed a drop from N264.29 in March to N254.06 in April 2023. This is according to the NBS Petrol Price Watch released in Abuja on Friday. It stated that the April 2023 price...
The Bank of Industry (BoI) recorded N2.3 trillion profit before tax under President Muhammadu Buhari, Chairman Board of Directors of the bank, Alhaji Aliyu Dikko has said. Dikko, made this known on the sidelines of the 63rd Annual General Meeting of the bank in Abuja. “It has been excellent. ...
The Nigeria Employers” Consultative Association (NECA) said the planned inauguration of Dangote Refinery was a succour to a nation in dire need of industrial renaissance. The Director-General, Mr Adewale-Smatt Oyerinde, made this known in a statement on Thursday in Lagos. “With the petroleum refinery and petrochemical plant as well...
The Nigerian Communications Commission (NCC) has sensitised motor spare parts traders in Ibadan, Oyo State capital, on how to avoid telecom and e-fraud on mobile telecommunications network. Its Head of Consumers Affairs, Mr Ayanbanji Ojo, said this at the NCC consumers sensitisation programme held at Agodi-Gate motors spare parts...
By OLA MUDOPE, Lagos – Polaris Bank has disbursed business support loans to female-owned businesses in the first quarter of 2023. The Group Head, Brand Management and Corporate Communication, Nduneche Ezurike, said this in a statement on Thursday in Lagos. He said that the loans were part of the...
The Naira depreciated against the dollar on Wednesday, exchanging for N465.13 at the investors’ and exporters’ window. The rate represented a decrease of 0.10 per cent when compared to the N464.67 it exchanged for the dollar on Tuesday. The open indicative rate closed at N463.73 to the dollar on...
The Senate, on Wednesday, urged the Central Bank of Nigeria (CBN) to release 717, 478, 606 dollars airlines funds trapped in the country. The upper chamber also called on the CBN to allocate 25 million dollars to airlines operating in Nigeria at its forth-nightly dollar auction. These resolutions were...
By EMMANUEL KUJE, Abuja – The Human and Environmental Development Agenda (HEDA Resource Center) has strongly criticized the World Bank Country office in Nigeria, for its engagement with practices that is considered illegal under Nigeria’s legal regime, relating to borrowing and indebtedness. The Bank in its engagement with some Civil...
Major oil firms operating oilfields in Bayelsa have faulted claims by the Bayelsa Oil and Environmental Commission (BSOEC) in its final report presented to Gov. Douye Diri of Bayelsa at House of Lords on Tuesday in London. Reacting to the alleged complicity and responsibility for the widespread pollution, Shell...
Oil pollution in Bayelsa State was on the international focus on Tuesday as the report of the state’s Oil and Environmental Commission (BSOEC) was launched at the House of Lords in London. The 211-page report titled: “An Environmental Genocide: Counting the Human Cost of Oil in Bayelsa, Nigeria,” is...