The non-operating Joint Venture (JV) partners of Oil Mining Lease (OML) 18 have appointed the NNPC Eighteen Operating Limited as operator of OML 18 to replace Eroton Exploration and Production Limited (Eroton). Mr Garbadeen Muhammad, the Chief Corporate Communications Officer, NNPC Ltd, in a statement on Monday said this...
BUSINESS
By OLA MUDOPE, Lagos – FirstBank of Nigeria Ltd., has appointed Mr. Oluseyi Oyefeso as Executive Director, Retail Banking in charged of the South. The bank in a statement on Monday in Lagos, said his appointment, which took effect on March 2, 2023, was subject to the Central Bank...
Naira on Monday exchanged at N461.33 to a dollar at the Investors and Exporters window. The rate represented an increase of 0.09 per cent, compared to the N461.75 for which it exchanged to the dollar before the close of business on Friday. The open indicative rate closed at N461.50...
The Central Bank of Nigeria (CBN) says it remains committed to its developmental mandate of stimulating access to finance for the real sector, disclosing that total repayments as of the end of February 2023 under the Anchor Borrowers’ Programme (ABP) stood at N0.503 trillion, representing 52.39 per cent, adding...
An Economist, Dr Tope Fasua, has urged the Central Bank of Nigeria (CBN) to ensure optimally functional internet capacities for the cashless policy be effective. Fasua said this on Sunday in Abuja in interview with the News Agency of Nigeria (NAN). According to him, cashless policy and financial inclusion...
By JOY ADARA, Abuja – The Nigerian National Petroleum Company Ltd. (NNPCL) has attributed fuel queues in Abuja and some parts of the country to restrictions of businesses and movement during the presidential and National Assembly elections. The NNPC Ltd Chief Corporate Communications Officer, Mr. Mr Garba Deen Muhammad,...
The Shell Petroleum Development Company of Nigeria (SPDC) says investigation into Friday’s explosion at the Rumuekpe section of Trans Niger Pipeline (TNP) in Rivers, shows the blast was caused by activities of oil thieves. SPDC in an update statement on Sunday, noted that a joint investigation by representatives of...
Prof. Ibrahim Dabo, the Dean, Faculty of Engineering, Ahmadu Bello University (ABU), Zaria, says the university is working to develop a made-in-Nigeria car that will use water. The dean made this known on Saturday in Zaria while speaking with the News Agency of Nigeria (NAN) on the commemoration of...
By TENEBE ANTHONIA, Lagos – Nigerian Exchange Group Plc (NGX Group) along with its subsidiaries, is set to host a hybrid symposium themed “Embrace Equity: Setting the Standard for a Sustainable Future”, to celebrate the 2023 International Women’s Day on Wednesday, 8 March 2023, at 1:00p.m. (WAT). Globally, International...
Dangote Sugar Refinery Plc has reported a Profit Before Tax (PBT) of N82.3 billion for the year ended Dec. 31, 2022. The company made this known in its annual report on Friday in Lagos signed by Mr Anthony Chiejina, Chief Corporate Communications Officer, Dangote Group. This, the company said,...
By EZEKIEL OBI, Abuja – The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commenced an investigation into an explosion that occured near a crude oil pipeline in Emohua Local Government Area of Rivers on Thursday night. NUPRC Chief Executive Officer, Mr Gbenga Komolafe, who disclosed this in a statement...
The Nigerian National Petroleum Company Limited (NNPCL) says the Maiduguri Emergency Power Plant (MEPP) project is a giant step towards achieving its gas and power mandate to add 50MW into the national grid generation. Malam Mele Kyari, Group Chief Executive Officer (GCEO), NNPCL, made this known on Thursday during...
Some financial analysts have urged the Federal Government to totally deregulate the petroleum industry and reinvest its subsidy payment to more productive sectors of the economy. They gave the advice in separate interviews with the News Agency of Nigeria, (NAN) in Lagos on Thursday. Dr Austine Nwaeze, a former...
By OLA MUDOPE, Lagos – Guaranty Trust Bank Ltd., has debunked reports making the rounds on social media alleging that it gave N500 million new notes to APC Presidential candidate, Bola Tinubu for the 2023 elections. The bank in a statement on Wednesday in Lagos, that the claim was...
The United Nations Economic Commission for Africa (UNECA), says e-commerce in Africa is set to grow by 50 per cent by 2025. The Acting Executive Secretary, UNECA, Mr Antonio Pedro, this at the opening of the 9th Session of the Africa Regional Forum on Sustainable Development in Niamey, Niger...
By JOY ADARA, Abuja – The Central Bank of Nigeria (CBN) has debunked a misleading report misquoting the Governor, Mr. Godwin Emefiele, as attributing the current challenge in the distribution of the newly redesigned naira banknotes to a shortage of printing materials at the Nigerian Security Printing and Minting...
Mr Timpre Sylva, Minister of State for Petroleum Resources, says Federal Government has taken bold actions to stop the ongoing petrol crises across the country, while assuring massive distribution of the product.. Sylva, gave the assurance after his tour of some selected petroleum dispensing outlets in Lagos on Friday...
The Independent Petroleum Marketers Association of Nigeria (IPMAN), on Friday, said that its members were not buying petrol at N172 per litre, as being insinuated. IPMAN’s Chairman, Western Zone, Alhaji Dele Tajudeen, stated this in an interview with the News Agency of Nigeria (NAN) in Ibadan. Tajudeen described the...
By BARBARA KALU, Port Harcourt – Managing Director/CEO of the Niger Delta Development Commission (NDDC), Dr. Samuel Ogbuku, declared on Thursday that the Management of the Commission had not asked anyone to negotiate percentage for the payment of contractors. “We don’t have anyone collecting percentages for payments to any...
The Central Bank of Nigeria (CBN) has attributed hoarding of the new Naira notes as being responsible for its scarcity, and not that small quantity was issued out. The CBN Director, Consumer Protection, Mrs Rashidat Mongunu, said this on Thursday while monitoring microfinance banks in Offa, Offa Local Government...