By EZEKIEL OBI, Abuja – Ethiopian Minister of Transport and Logistics, Mrs Dagamawit Moges has commended Nigeria for choosing Ethiopian Airlines as the preferred partner for the establishment a national carrier. This is contained in a statement issued in Abuja on Saturday by Mr James Odaudu, Special Assistant on...
BUSINESS
The Nigerian National Petroleum Company Limited (NNPC LTD.) has completed the acquisition of OVH Energy Marketing Limited (OVHEM) downstream assets under an Accelerated Network Expansion (ANEX) Initiative. Unveiling the acquisition on Saturday in Abuja, Sen. Margery Okadigbo, NNPC Ltd Board Chairman, said it would strengthen the downstream business portfolio...
The International Monetary Fund (IMF)’s Executive Board has approved a new emergency financing instrument for countries suffering from acute food insecurity. Ms Kristalina Georgieva, the Managing Director, IMF announced this in a statement obtained from the IMF website NAN) in Abuja on Saturday. “I am very pleased to announce...
FirstBank of Nigeria, says it is joining the rest of the world to celebrate 2022 Customer Service Week, pledging continued support for individuals, businesses to impact the economy. Mrs Folake Ani-Mumuney, Group Head, Marketing and Corporate Communications, FirstBank, said in a statement in Lagos on Saturday that the event...
The Nigerian Exchange (NGX) Ltd. closed the week on a bullish note Friday, with market capitalisation gaining N32 billion or 0.12 per cent to close at N26. 451 trillion against N26.419 trillion on Thursday. Also, the All-Share Index went up by 59.33 basis points or 0.12 per cent to...
By TENEBE ANTHONIA, Lagos – The Nigerian Exchange Group Plc. (“NGX Group) held its 61st Annual General Meeting (AGM) in Lagos on Friday, 30 September 2022, where shareholders approved resolutions by the company’s Board of Directors. Mr. Apollos Ikpobe and Dr. Okechukwu Itanyi retired by rotation and were re-elected...
The World Bank has approved 750 million dollars for the Nigeria State Action on Business Enabling Reforms (SABER) Programme-for-Results. This is contained in a statement obtained by the News Agency of Nigeria (NAN) from the World Bank website on Friday in Abuja. The statement said the 750 million dollars...
Dangote Industries Ltd., has bagged eight different awards by the Economic Community of West African States Manufacturing Excellence Awards (EMEA). The company said this in a statement by Mr Anthony Chiejina, Group Chief, Branding and Communications Officer, Dangote Industries Ltd. (DIL), on Thursday in Lagos. According to the statement,...
African Export-Import Bank (Afreximbank) has inaugurated the Afreximbank Trade Payment Services or “AfPAY”. AfPAY is an intervention designed to facilitate the settlement of international trade on open account terms on behalf of identified African financial institutions and their clients. A statement issued by Afreximbank’s Press Office in Abuja on...
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) says banks’ Unstructured Supplementary Service Data (USSD) debt has increased to N80 billion from N42 billion reported in 2021. The President of ALTON, Mr Gbenga Adebayo, disclosed this during the ICT Growth Conference 2.0. organised by the Nigeria Information Technology...
Oil prices firmed on Thursday, erasing earlier losses, on indications that OPEC+ might cut output, though a stronger dollar and weak economic outlook kept a lid on gains. Brent crude futures rose 52 cents, or 0.6 per cent, to $89.84 a barrel by 1027 GMT and U.S. crude futures...
Google has announced six new features and developments on search to help people gather and explore information in new ways. Mr Taiwo Kola-Ogunlade, the Head, Communication, West Africa and sub-Saharan Africa, said this in a statement on Thursday in Lagos. Kola-Ogunlade said that the new features leveraging machine learning...
The Port Harcourt Refining Company (PHRC) is soon to commence rehabilitation of its pipelines in readiness for resumption of production. Mr Sheik Mohammed, the Executive Director, Project, PHRC, made the disclosure on Wednesday during the inauguration of Ekerekana 140 Market Stalls in Okrika Community, constructed by the company. Mohammed,...
Prof. Benedict Oramah, President and Chairman of the Board of Directors, African Export-Import Bank (Afreximbank) has received the 2022 Margaret H. Demant African Art Award. This is contained in a statement issued by Afreximbank’s media contact, Amadou Sall in Abuja on Wednesday. Sall said Oramah received the award in...
The Federal Government says Nigeria currently produces about five million tonnes of Liquefied Petroleum Gas (LPG) annually and only eight per cent of the production is being utilised domestically, with the bulk being exported. It says domestic LPG production stands at about 45 per cent of annual consumption, with...
The Nigeria National Petroleum Company (NNPC Ltd) is collaborating with the Office of the Vice President on establishment of Gas Funding Company Ltd for injection of 20 million cylinders in the next five years. The NNPC Ltd said the company’s establishment, which involved collaboration of other relevant stakeholders and...
An economist, Prof. Evans Osabuohien says the increase of Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) Central Bank of Nigeria (CBN) will further put pressure on already pressured private sector. Osabuohien made this known in an interview with the News Agency of Nigeria (NAN) in Ota,...
By CALLISTUS OFFOR, Abuja – The Nigerian Communications Commission’s Computer Security Incident Response Team (NCC-CSIRT) has issued an advisory for users to install trusted, up-to-date anti-virus software with an Internet security component and to customize News Feed in Microsoft Edge Browser. This is part of the countermeasures to lessen...
In partnership with FirstBank – Nigeria’s premier and leading financial inclusion services provider – Verve International, Africa’s leading payment technology and card business, has launched its third National Consumer promo designed to reward users of FirstBank verve card with exciting gifts and cash prizes to appreciate their patronage and...
The domestic stock market on Tuesday closed on a negative note, with market capitalisation shedding N15 billion or 0.56 per cent to close at N26.517 trillion as against N26.532 trillion recorded the previous day. Also, the All-Share Index (ASI) lost 27. 87 points or 0.56 per cent to close...