The Crude Oil Refiners Association of Nigeria (CORAN), the umbrella body of indigenous crude oil refiners, has appealed to the Central Bank of Nigeria(CBN) to create crude refinery intervention fund for its members. Its Secretary, Mr Olusegun Ilori, made the appeal in a statement on Wednesday after a visit...
BUSINESS
The Nigeria Medical Association (NMA) has urged the Federal Government to ensure payment of the newly approved hazard allowance to its members within the next two months. A communique issued at the end of the association’s August National Executive Council (NEC) meeting on Sunday in Gombe. The communique which...
The Apple logo is seen at the entrance of an Apple store in Washington, DC,. Apple has been barred from selling iPhones without a charger in Brazil and fined more than $2 million over the issue, the government said Tuesday, after accusing the US tech giant of “discriminatory practices.”...
Mr Kabir Mohammed, the Manager of the Nnamdi Azikiwe International Airport, Abuja (NAIA), on Tuesday in Abuja said the airport would commence automated pay car park on Sept. 29. Mohammed, who made this known, while speaking with the News Agency of Nigeria (NAN), stated that digitisation of the airport...
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it has disbursed a total of 103,037,183,922.91 billion Naira bridging claims to oil marketers between December 2021 and August 2022. The authority disclosed this at the end of its meeting with the Northern Independent Petroleum Marketers Forum (NIPMF) and...
Association of Telecommunications Companies of Nigeria (ATCON), on Tuesday commended Federal Government for suspending the five per cent excise duty charge on telecom facilities. The Executive Secretary of ATCON, Mr Ajibola Olude, gave the commendation in an interview with the News Agency of Nigeria in Abuja. He said investors...
The Organisation of Petroleum Exporting Countries (OPEC) says its upward adjustment of 0.1 million barrel per day (mb/d) to the overall oil production level is only intended for September 2022. OPEC made this known at its report on the 32nd OPEC and non-OPEC Ministerial Meeting held via video conference...
The Naira on Monday depreciated against the dollar at the Investors and Exporters window, exchanging at N434.75. The figure represents a decrease of 0.75 per cent, compared with N431.50 to the dollar at the close of business Sept. 2. The open indicative rate closed at N431.30 to the dollar...
The Federal Government has suspended the introduction of five percent excise duty in the digital economy sector, a tax which was earlier proposed by the Minister of Finance. The Minister of Communications and Digital Economy, Isa Pantami disclosed this in abuja during the inauguration of a committee that will...
The Nigerian National Petroleum Company Limited (NNPC Ltd) has offered to submit itself for forensic audit of fuel supply and subsidy management, insisting that daily fuel supply is 68 million litres. The NNPC made this known on Sunday in a statement signed by Malam Garba Muhammad, Group General Manager,...
The National Bureau of Statistics (NBS), says the aggregate Value Added Tax (VAT) was reported at N600.15 billion for Q2 2022. This is according to the VAT Q2 2022 Report released in Abuja on Saturday. According to the report, this shows a growth rate of 1.96 per cent on...
The National Petroleum Investment Management Services (NAPIMS), has described the deep-water operations of Shell Nigeria Exploration and Production Company Limited (SNEPCo) as best in class. Group General Manager of NAPIMS, the investment arm of the Nigerian National Petroleum Corporation Limited (NNPC), Mr. Bala Wunti, gave this commendation when he...
Over 50,000 cases of major destruction to telecom infrastructure and facilities have been reported across the country in the past five years, raising alarm over the implication of these incidents to the quality of telecommunications services in Nigeria. Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar...
The Nigerian Exchange Ltd., (NGX) recorded another positive performance on Friday, with a gain of N84.65 billion market capitalisation closing at N26.994 trillion from N26.909 trillion on Thursday. Also, the All-Share Index (ASI) increased by 156.03 points or 0.31 per cent to close at 50,045.83 from 49,889.80 recorded on...
The Naira on Friday depreciated against the dollar at the Investors and Exporters window, exchanging at N431.50. The figure represented an increase of 0.35 per cent, compared with N430 it exchanged for the dollar on Thursday. The open indicative rate closed at N429.10 to the dollar on Friday. An...
The Chairman, Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye, says the use of technology is crucial to the success of the fight against corruption and Illicit Financial Flows (IFFs). Owasanoye stated this in Abuja on Friday at the presentation of demo hacking solutions by...
The Nigeria Deposit Insurance Corporation (NDIC), has published a final dividend declaration notice to depositors of 20 failed banks. The NDIC also published a final dividend declaration notice to creditors of five banks in-liquidation. The notice published on the Corporation’s website on Friday, listed the banks to include ABC...
Malam Mele Kyari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has urged investors to take advantage of the enormous business potentials in the Nigerian energy sector to invest in the country. Kyari, at the Nigerian – Indian Business Forum in Abuja,...
The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples stood at 101.04 dollars per barrel as at Wednesday. This is compared with 106.41 dollars per barrel recorded on Tuesday, according to OPEC Secretariat calculations obtained by the News Agency of Nigeria...
The Kwara Area Command of the Nigeria Customs Service, says it will begin collection of the new excise duties on beverages and cigarettes from factories in the state. A statement by the Command Public Relations Officer, Chado Zakari, on Thursday in Ilorin, said that the excise duties were under...