By JOY ADARA, Abuja – The Nigerian Communications Commission (NCC) has expressed its readiness to collaborate with the Bayelsa State Government in accelerating telecommunications infrastructure deployment, digital literacy and skills in the State. The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of NCC, Prof. Umar Danbatta, reiterated this...
BUSINESS
Google Maps, the popular popular navigation app, on Friday afternoon went down, leaving users frustrated around the world. According to Down Detector, the issues started at around 3:44pm on Friday. While the reason for the outage remains unclear, more than 11,000 reports have now been logged on Down Detector....
It is often said that one man’s loss is another man’s gain. The war between Russia and Ukraine has undoubtedly brought great loss to both parties as lives and properties have been lost. However, in a war, there are undoubtedly two parties which include those who will benefit and...
Dr Ogbonnaya Onu, Minister of Science, Technology and Innovation, says Nigeria has recorded tremendous breakthrough in import reduction by cumulatively saving N5.03 trillion between 2017 and 2020. The minister disclosed this at the closing ceremony of the 2022 STI Expo in Abuja, on Friday. Onu said the figure was...
BY JOY ADARA, Abuja – The Nigerian Communications Commission (NCC) and the Lagos Business School of Pan-Atlantic University are considering forging a partnership that will result in developing customised capacity building interventions and overhauling of existing training courses offered by the LBS to address critical areas of needs of...
The total debt stock of Nigeria is likely to reach N45 trillion as the Debt Management Office (DMO) plans to borrow additional N6.39 trillion to finance the 2022 budget deficit. This is according to a DMO document obtained by the News Agency of Nigeria (NAN) on Friday in Abuja....
Local airlines under the aegis of Airline Operators of Nigeria (AON), have suspended their threat to shut down flight operations over the outrageous hike in price of Jet – A1 fuel. The Vice President of AON , Mr Allen Onyema, disclosed this in a telephone interview with the News...
Nigeria has officially raised 1.25 Billion dollars through the issuance of a seven-year Eurobonds in the International Capital Market (ICM). The Director-General of the Debt Management Office (DMO), Patience Oniha made this known in a statement on Thursday. Oniha said that with this feat, Nigeria has become the first...
The Federal Government says it will deal decisively and sanction any depot owner caught selling petroleum products beyond the approved ex-depot price in the country. Chief Timipre Sylva, Minister of State, Petroleum Resources, made this known on Thursday in Abuja while briefing newsmen on its effort to resolve the...
By BENJAMIN ORISEMEKE, Abuja – Chairman of UBA Banking Group and Heirs Holdings, Tony Elumelu, has stated that the reason Nigeria cannot meet its crude oil production quota and benefit from high oil prices is due to oil theft. Elumelu, who disclosed this in a series of tweets, urged...
By BENJAMIN ORISEMEKE, Abuja – The Debt management Office (DMO) has said that Nigeria’s total public debt as at December 31, 2021 stood at N39.556 trillion or $95.770 billion, The amount according to the debt management office rose by N6.641 trillion when compared to the 2020 figure of N32.915...
The Nigerian Communications Commission (NCC) has reaffirmed its commitment to accelerate deployment of robust broadband infrastructure accessible to all Nigerians. This is to enhance their access to the required resources to carry out seamless digital financial services, irrespective of their locations and circumstances. The Commission gave the assurance at...
By BENJAMIN ORISEMEKE, Abuja – OPEC said on Tuesday that oil demand in 2022 faced challenges from Russia’s invasion of Ukraine and rising inflation as crude prices soar, increasing the likelihood of reductions to its forecast for robust demand this year. Oil prices shot above $139 a barrel this...
By BENJAMIN ORISEMEKE, Abuja – Italian energy group Eni said it would lift a force majeure on exports of Nigerian Brass River crude oil this week after it completed repairs to a pipeline damaged by a blast. The group had cut oil and gas exports from its Brass Export...
The Managing Director of Jaiz Bank, Mr Hassan Usman, on Wednesday, said the bank would continue to support small businesses with working capital and funding for growth and expansion. Usman, who made the promise at a media parley in Lagos, noted that 20 to 25 per cent of the...
By TENEBE ANTHONIA, Lagos – Nigerian Exchange Limited (NGX) in collaboration with International Finance Corporation (IFC) – a member of the World Bank Group – hosted a training for issuers and market operators on the issuance of sustainable financial instruments on 10th and 11th March 2022. The training themed...
By BENJAMIN ORISEMEKE, Abuja – Total trade in the fourth quarter of 2021 stood at N11,707.20 billion with exports trade value of N5,766.62 billion, the National Bureau of Statistics (NBS), has said. According to Statistician General of NBS, Simon B. Harry, in a press briefing Tuesday, the import trade...
The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production declined to an average of 1.417 million barrels per day in February 2022. OPEC made this known in its Oil Market Report for March 2022, which was obtained by the News Agency of Nigeria ( NAN)...
By BENJAMIN ORISEMEKE, Abuja – Crude oil supply trouble got worse with Shell and Eni both declared force majeure on key oil flows from Nigeria, threatening to disrupt supplies in a market that is already being impacted by Russia’s invasion of Ukraine. Force majeure is a foreseeable circumstance that...
By BENJAMIN ORISEMEKE, Abuja – The National Bureau of Statistics (NBS) says the Consumer Price Index (CPI) has increased by 15.70% Year on Year in the month of February. This is 1.63% lower than 17.33 per cent recorded in the previous month. The Statistician General of the Federation, Dr....