Shell Companies in Nigeria (SCiN) today kicked off their participation at the 24th Nigeria Oil and Gas Conference and Exhibition in Abuja with an elaborate exhibition on their operations which drew commendation from top government functionaries and other conference participants. Among the visitors to the stand were the Minister...
BUSINESS
Organisation of Petroleum Exporting Countries (OPEC) has warned that a staggering $17.4 trillion in global upstream investment is required by 2030 to avoid a massive oil market deficit of 23 million barrels per day (bpd). OPEC Secretary-General, Haitham Al Ghais, made this disclosure at the 24th Nigeria Oil and...
Nigeria’s current oil production stands at 1.745 million barrels per day (bpd), with a target to hit 2 million bpd by the end of 2025, Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri, has said. Lokpobiri made this known while declaring the 2025 Nigeria Oil and Gas (NOG)...
Nigerian National Petroleum Company Limited (NNPC Ltd.) has recorded a 100% availability on major crude oil pipelines in the country. The Group Chief Executive Officer, Bashir Ojulari, announced this at the 24th NOG Energy Week in Abuja. Ojulari attributed the achievement to industry-wide security interventions led by NNPC Ltd....
By JOY ADARA, Abuja – Nigerian stock market opened the week on a negative note, with key performance indices dipping marginally by 0.01% on Monday. The market capitalization fell by N11 billion, dropping from N75.962 trillion to N75.951 trillion. The All-Share Index declined by 17.19 points, closing at 119,978.57....
By OLA MODUPE, Lagos – The shareholders of the African Export-Import Bank (Afreximbank) have appointed Dr. George Elombi as the next President and Chairman of the Board of Directors. Elombi, a Cameroonian national, succeeds Prof. Benedict Oramah, who will step down in September 2025. In his acceptance speech, Elombi...
Nigerian stock market ended the week on a bearish note, with investors recording a significant loss of N491 billion. The market capitalization declined by 0.64% to close at N75.962 trillion, down from N76.453 trillion the previous week. The All-Share Index also dropped by 776.92 points or 0.64% to 119,995.76...
QEDNG, the renowned online newspaper published by Mighty Media Plus Network Limited, has announced the launch of the QEDNG Creative Powerhouse Summit. This groundbreaking event will be held on Tuesday, August 12, 2025, at 10:00 a.m., at the prestigious Radisson Blu Hotel, Isaac John Street, Ikeja GRA, Lagos. With...
By OLA MODUPE, Lagos- Country Chair, Shell Companies in Nigeria, Osagie Okunbor who retires at the end of this month, has been commended for his role and record in the development of the oil and gas industry, especially the growth of Nigerian content and impactful social investments in communities...
Renaissance Africa Energy Company Limited has rallied the support of nearly 500 chief executive officers and business leaders, all of whom are registered vendors with the company, in a bold push to accelerate oil and gas production in Nigeria. This commitment was sealed at the 2025 “Leaders and Contractors...
The African Development Bank (AfDB) has restated the urgent need for Nigeria to close its annual development financing gap of $31.5 billion. According to Dr. Abdul Kamara, AfDB’s Director-General for Nigeria, this is a crucial finding from the Bank’s 2025 Nigeria Country Focus Report. The report highlights the need...
Africa is hemorrhaging $7 billion annually due to medical tourism, with Nigeria alone accounting for $1.1 billion of this loss, according to the African Export-Import Bank (Afreximbank). Afreximbank’s Export Development Managing Director, Mrs. Oluranti Doherty, disclosed this during the 32nd Afreximbank Annual Meetings in Abuja. “This trend is hindering...
By ANIEFIOK UDONQUAK, Uyo – Ibom Air, a wholly indigenous airline owned by the Akwa Ibom State Government has announced a revenue growth of 43 percent from N67bn in 2023 to N96bn in 2024. This announcement was contained in a statement issued by the company and signed by Annie...
The Chairman of the Nigerian Exchange Group (NGX), Dr. Umaru Kwairanga, has called on the Dangote Group to list its refinery and fertilizer businesses on the Nigerian Exchange to enhance transparency, deepen market participation, and promote inclusive economic growth. Dr. Kwairanga made this call during a courtesy visit to...
By MBAFAN ADE, Abuja- The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced significant progress in attracting investments in Nigeria’s upstream oil and gas sector, as showcased at the recent Nigeria-China Sustainable Bilateral Business, Trade, and Investment Summit, which held in Lagos during the week. This landmark event brought...
Vice President Kashim Shettima announced that Nigeria is undergoing a silent but bold transformation under President Bola Tinubu led administration. Speaking at the Nigeria-Brazil Business Forum in Abuja, Shettima emphasized the renewed strategic alliance with Brazil, describing it as “grounded in intent and rich in potential for mutual growth”....
Nigerian stock market recorded a significant gain of N1.185 trillion, driven by strong buying interest in medium and large-capitalized stocks, including Dangote Sugar and Oando. This substantial growth has boosted the market’s overall performance, showcasing the resilience and potential of the Nigerian economy. The market capitalization surged by 1.57%...
Africa recorded a growth rate of 3.2% in 2024, despite the challenging global environment, according to the Afreximbank Research Report. The Group Chief Economist, Dr. Yemi Kale, disclosed this while presenting the 2025 African Trade and Economic Outlook (ATEO) Report in Abuja. Although the growth rate is an achievement,...
By JOY ADARA, Abuja- The Country Chairman of Shell Companies Nigeria, Mr. Osagie Okunbor, is set to retire this month after 39 years of dedicated service. The announcement was made by the company’s Communications Manager, Mrs. Gladys Afam-Anadu, who disclosed that a pre-retirement event had commenced on Tuesday in...