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,...
BUSINESS
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...
The Nigerian Communications Commission (NCC), has issued an amended Determination of Mobile (Voice) International Termination Rate (ITR), for implementation in the Nigerian Telecommunications Industry. NCC’s Director of Public Affairs, Mr Reuben Muoka, who made this known in a statement, on Thursday in Abuja, said the implementation would be effective...
Emirates Airlines has restored its flight operations to Nigeria’s commercial capital of Lagos. The airline announced this in emails sent to its customers on Wednesday. The email reads: “We are pleased to inform you that effective from 11th September 2022, we will reinstate operations of our flights,” Emirates said...
The Airline Operators of Nigeria (AON) have decried the alleged ‘criminalisation’ of all domestic airlines over the outstanding N19 billion debt it was alleged to owe some Federal Government’s aviation agencies. The Vice-President (V-P) of AON, Mr Allen Onyema, said this in a statement issued in Lagos on Wednesday....
Mr Tony Elumelu, Chairman, Heirs Holdings, and other Information and Communication Technology (ICT) stakeholders on Wednesday called for the scaling up of Nigeria’s digital infrastructure. Elumelu, represented by Mr Peter Ashade, Group Chief Executive Officer, United Capital Plc, gave the advice at the Lagos Chamber of Commerce and Industry...
Some agencies of the Federal Ministry of Aviation have called on local airlines to pay their outstanding debts for the services rendered to them. The agencies made the call on Tuesday in Abuja at a meeting of the ministry and aviation agencies with Scheduled Airline Operators and Ground Handlers....
The Federal Government on Tuesday inaugurated the Governing Council of the Midstream and Downstream Gas Infrastructure Fund (MDGIF). Chief Timipre Sylva, Minister of State, Petroleum Resources, inaugurated the nine-member council, in Abuja, to fix the critical missing link in government’s effort to develop the gas sector He charged members...
The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples stood at 104.85 U.S dollars per barrel as at Monday, Aug. 29. This is compared with 103.89 U.S. dollars per barrel of the previous Friday, according to OPEC Secretariat calculations obtained by...
The Nigerian National Petroleum Company (NNPC Ltd.), said that the importation of petroleum products into the country will be stopped by mid-2023. Mele Kyari, Group Chief Executive Officer of NNPC Ltd. disclosed this at the State House Ministerial Briefing organised by the Presidential Communications Team, on Tuesday in Abuja....
Fidelity Bank on Tuesday agreed to take over the United Kingdom unit of Nigeria’s second oldest lender, Union Bank. It is the latest phase in the train of divestments by the latter which, beginning late last year, saw Union Bank offload 90 per cent of its shareholding to a...
TAJBank Limited, Nigeria’s foremost non-interest lender, says it has concluded plans to begin the issuance of its N100 billion Sukuk bond. This is according to a statement by TAJBank’s Managing Director, Mr Hamid Joda. According to Joda, the commencement followed the signing of all parties for issuance of the...
A Digital solutions company, Globacom on Monday, said it has been carrying out aggressive roll-out of network equipment and upgrade of its sites to 4G-LTE across the country. Deputy Chief Operating Officer of Globacom, Mr Bisi Koleosho said in a statement that it was in order to continue to...
By KADIRI ABDULRAHMAN – As most Nigerians continue to decry the increasing public debt stock of Federal Government, others look at the lucrative investment opportunities in some of the debt instruments. These debt instruments refer to the various Federal Government of Nigeria (FGN) Securities, which make up the local...
Chief Timipre Sylva, Minister of State for Petroleum Resources, says a stable oil market will benefit all consumers, producers and investors. Sylva said this in a statement obtained by the News Agency of Nigeria (NAN) on Sunday in Lagos. He said Nigeria supports the call by Prince Abdulaziz Bin...
By CALLISTUS OFFOR, Abuja – Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim (Pantami) is excited over the remarkable contribution of the Information and Communications Technology (ICT) sector to Nigeria’s Gross Domestic Product (GDP) in the second quarter of 2022 (Q2 2022). The National Bureau of Statistics...
The National Bureau of Statistics (NBS) said Information and Communication Technology (ICT) sector had contributed 18.44 per cent to the ‘Nigeria’s Gross Domestic Product Report’ for Q2 2022. Dr Femi Adeluyi, Technical Assistant Research and Development to the Minister of Communications and Digital Economy, made this known in a...
The Director of Trade and Exchange Department, Central Bank of Nigeria (CBN), Dr Ozoemena Nnaji, says there is urgent need to diversify the Nigerian economy to spur growth. Nnaji made the call on Saturday, at the 33rd Seminar for Finance Correspondents and Business Editors in Abuja. She said that...
The African Development Bank (AfDB), said private sector investment in Africa’s infrastructure in 2020 was 19 billion dollars, the highest since 2016. Mr Solomon Quaynor, AfDB Vice President for the Private Sector, Infrastructure and Industrialisation said this at a webinar organised by the bank and the Japan International Cooperation...