Shell Nigeria Exploration and Production Company Ltd. (SNEPCo), a subsidiary of Shell plc, says it made a Final Investment Decision (FID) on Bonga North, a deep-water project off the coast of Nigeria. Shell’s Integrated Gas and Upstream Director, Ms Zoë Yujnovich,disclosed this in a statementon Monday in Lagos. Yujnovich...
BUSINESS
Opening the week, the Nigerian stock market extended gains from its previous session, leading to N331 billion profit for investors. Buy interest in Zenith Bank, FBN Holdings, Oando Plc, Aradel, Transnational Corporation, among other advanced equities drove the market’s performance up. The market capitalisation, which opened at N60.241 billion,...
Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell UK plc, has announced a final investment decision (FID) on Bonga North, a deep-water project off the coast of Nigeria. The project to harness more than 300 million barrels of oil reserve will add an additional 110,000...
The Shell Petroleum Development Company of Nigeria (SPDC) on Monday said the reported oil leak from the Bonny Oil Export Terminal will not affect oil export. SPDC noted that the incident affected only a section at one out of the three loading buoys which has been isolated. SPDC’s Media...
The Federal Government, through the Debt Management Office (DMO) has offered two FGN bonds valued at N120 billion for subscription through auction. According to a statement by the DMO on Monday in Abuja, the first offer is an April 2029 FGN bond valued at N60 billion, at an interest...
Investors have been called upon to recognise Anambra as a prime destination for investment in the agricultural sector and renewable energy solutions. The call was made by Mr Mark Okoye, Managing Director and Chief Executive Officer of the Anambra State Investment Promotion and Protection Agency. He spoke with the...
The Central Bank of Nigeria has announced a fine of ₦150 million on Deposit Money Banks found guilty of giving out illegal flow of mint naira notes to currency hawkers across the country. The move was after the apex bank addressed recent misinformation about the validity of the old...
By JOY ADARA, Abuja- The Central Bank of Nigeria (CBN) has said all denominations of Naira banknotes currently in circulation remain indefinitely valid as legal tender and cannot expire or be phased out. The CBN’s Acting Director, Corporate Communications, Mrs Sidi Ali Hakama, said in a statement on Friday...
By JOY ADARA, Abuja – The Federation Accounts Allocation Committee (FAAC), has shared N1.727 trillion among the Federal Government, states, and Local Government Councils (LGCs) for November. This is contained in a communiqué issued after the FAAC meeting on Thursday in Abuja. According to the communiqué, the N1.727 trillion...
Members of the House of Representatives Committee on Privatization on Thursday, paid a courtesy visit to the Bureau of Public Enterprises (BPE) in Abuja for oversight duties. They were received by the Director-General of the Bureau, Mr. Ayodeji Ariyo Gbeleyi and other management staff.
JBy OLA MODUPE, Lagos – Justice Ayokunle Faji of the Federal High Court, Lagos on Thursday, dismissed the bail applications by four bloggers accused of blackmailing Guaranty Trust Holding Company and its Group Chief Executive Officer, Segun Agbaje. He also adjourned the matter to January 13 and 14, 2025....
A financial expert, Mr Wale Shonibare, has urged the Federal Government to prioritise power sector infrastructure development to drive the country’s industrial growth. Shonibare, made the call in an interview with the News Agency of Nigeria, (NAN) on the sidelines of the African Investment Forum, Market Days 2024, which...
The domestic bourse rebounded from its previous trading session’s loss, adding N60 billion as investors renewed interest in MTN Nigeria, Oando Plc, Access Corporation and other advancing equities. Specifically, the market capitalisation, which opened at N59.472 trillion, rose by N60 billion or 0.10 per cent to close at N59.532...
The equity market began the week on a bearish note, reversing prior session gains with a loss of N62 billion. The decline was primarily driven by losses in Oando Plc, United Bank for Africa (UBA), Access Corporation, United Capital and Transnational Corporation. Consequently, the market capitalisation, which opened at...
Managing Director of Nigeria Liquefied Natural Gas (LNG) Ltd., Mr Philip Mshelbila, has said Africa’s energy sector needs over 200 billion dollars in annual investments to meet its energy and climate goals. Mshelbila spoke at the networking session reception, hosted by Nigeria LNG in Berlin, Germany, on Monday. The...
The Nigerian Capital Development Fund (NCDF), has concluded plans to spearhead a transformative USD 150 million investment in Agonrin Sea Beach, Badagry West Local Government Area, in collaboration with Eternal Flame Worldwide Limited with headquarters in the United Kingdom. Executive Chairman of the NCDF, Hon. Babatunde Oralusi, and the...
The Dangote Petroleum Refinery and Petrochemicals has sought to amend its suit against the Nigerian National Petroleum Company Limited (NNPCL) and others. The plea to amend the suit followed an application by the NNPCL before Justice Inyang Ekwo of a Federal High Court in Abuja, urging the court to...
The African Development Bank (AfDB) has provided key insights into how Nigeria and other African nations can address their growing debt burdens and foreign exchange challenges. The Bank’s Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, told the News Agency of Nigeria (NAN) that strategic borrowing and...
The Federal Capital Territory Internal Revenue Service (FCT-IRS), has created a dedicated unit for taxation of more than 10,000 High-Net-worth Individuals (HNIs) in the FCT. The acting Executive Chairman of the Service, Mr Michael Ango, announced the development in a circular made available to newsmen in Abuja on Sunday....
The Managing Director, Moniepoint Microfinance Bank, Mr Babatunde Olofin, on Sunday warned Nigerians against falling victims to fraudsters who request account numbers for end-of-year rewards. Olofin gave the advice in a telephone interview with the News Agency of Nigeria (NAN) in Lagos, while advising citizens not to share their...