The Group Chief Executive Officer and Managing Director, Nigerian National Petroleum Company Limited (NNPC Ltd.), Mr Mele Kyari, has advocated a different approach towards attaining energy transition for the African continent. Kyari also said the Final Investment Decision (FID) on the 25 billion dollars Nigeria Morocco Gas...
BUSINESS
Zenith Bank Plc on Tuesday announced the appointment of Dr Adaora Umeoji as its Group Managing Director/Chief Executive Officer (CEO), effective June 1. This was disclosed in a notification sent to the Nigerian Exchange Ltd. (NGX) by the bank’s Company Secretary, Mr Michael Otu. Otu said that the...
Consumer goods giant Unilever has announced plans to cut around 7,500 jobs globally as part of an overhaul aimed at saving around 684 million euros (869 million dollars) over the next three years. The Marmite-to-Dove soap firm said the jobs affected were largely office-based and the move came...
By TYAV SAM TYAV, Makurdi – About fourteen (14) trucks loaded with Ilmenite (Titanium-Iron Oxide), mined from Kwande local government area of Benue State have been impounded by the Benue State Internal Revenue Service (BIRS). A statement, by the Media Assistant to the Acting Executive Chairman of the...
By CALLISTUS OFFOR, Abuja – Nigerian Communications Commission (NCC) has said the voice and data services affected by the cable cuts have been restored. The Commission’s Director of Public Affairs, Dr Reuben Muoka, stated this in a statement issued on Monday in Abuja. Muoka said that services were restored,...
The Nigerian Exchange Ltd.(NGX) market capitalisation on Monday closed on a negative note, losing N239 billion. Specifically, the market capitalisation which opened at N59.416 trillion, lost 0.40 per cent or N239 billion to close at N59.177 trillion. Similarly, the All-Share Index also declined by 0.40 per cent...
Trading in top three equities namely: Transnational Corporation (Transcorp), Guaranty Trust Holding Company (GTCO) and Access Holdings contributed significantly to the stock market’s upward performance in the week ended. Specifically, a total equity turnover of 1.773 billion shares worth N52.867 billion in 44,713 deals were traded in the...
The Nigerian Exchange Ltd.(NGX) extended gains on Friday, causing investors’ wealth to grow further by N582 billion due to buy interest on the nation’s bourse. Specifically, investors gained N582 billion in value as market capitalisation grew to N59.416 trillion from N58.834 trillion recorded on Thursday. Consequently, the All-Share...
The Nigerian Communications Commission (NCC) has restated its commitment to uphold the rights of telecom consumers, saying they occupy important positions in the telecommunications ecosystem in Nigeria. Executive Vice-Chairman (EVC) of the Commission, Aminu Maida, represented by the Executive Commissioner-designate, Technical Services, Abraham Ogbadami, said this on Friday...
Nigeria’s headline inflation has moved to 31.70 percent in February, according to the latest data by the National Bureau of Statistics (NBS). The NBS released the figure on Friday afternoon with the latest data a rise from the 29.90 percent recorded in January 2024. More to follow…
By MBAFAN ADE, Abuja – The Senate has dismissed media reports claiming that it will expose all “frauds associated with the contracts and management of the Turn Around Maintenance of the nation’s refineries”. A news report last week claimed that the Senate through its Ad-hoc Committee on Investigation of...
By CALLISTUS OFFOR, Abuja – A combination of cable cuts, resulting in equipment faults on the major undersea cables along the West African Coast, have negatively impacted data and fixed telecom services in several countries of West Africa, including Nigeria, Ghana, Senegal, Cote de Ivoire, among others. The Nigerian...
The Group Chief Executive Officer, Nigerian National Petroleum Corporation Ltd (NNPCL), Mr Mele Kyari, on Thursday said the Port Harcourt refinery would begin production by end of March. Kyari said this after a meeting with the Senate Ad-hoc Committee, investigating the various Turn Around Maintenance (TAM) projects...
The National Bureau of Statistics (NBS), said the aggregate Value Added Tax (VAT) stood at N1.20 trillion in Q4 2023. This is according to the VAT Q4 2023 report released in Abuja on Thursday. The report shows a growth rate of 26.61 per cent on a quarter-on-quarter basis...
An Energy expert, Prof. Billy Okoye has unveiled `AptFuel Technology’, an application capable of navigating and accessing availability, prices and ratings of petroleum products at fuel stations nationwide. Okoye, Coordinator, Oil, Gas and Energy Marketing, University of Abuja Business School, and a former Group Executive Director, Nigerian National...
The Organisation of Petroleum Exporting Countries (OPEC) has said crude oil output increased mainly in Nigeria and Libya, while production in Iran and Iraq decreased. OPEC said based on secondary data sources, total OPEC-12 crude oil production averaged 26.57 mb/d in February with 203 tb/d higher, month-on-month (m-o-m)....
The House of Representatives has resolved to invite the management of the Dangote BUA and other cement manufacturers to interface over high cost of cement in the country. This followed the adoption of a motion by Rep. Jonathan Gbefwi (PDP-Nasarawa) at plenary on Wednesday. Presenting the motion, Gbefwi...
Access Holdings Plc has announced Mr Aigboje Aig-Imoukhuede, Access Bank pioneer Group Chief Executive Officer (Group CEO), as its Non-Executive Chairman. Mr Sunday Ekwochi, Company Secretary, Access Holdings, said this in a disclosure sent to the Nigerian Exchange Ltd. (NGX) on Wednesday in Lagos. Ekwochi said that Aig-Imoukhuede...
The Federal Government says improved security in the Niger-Delta is responsible for the increased crude oil production to 1.65 million barrels per day as against the 1.25 million bpd previously recorded. The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, stated this in Abuja...
Managing Director, Polaris Bank, Mr Omokayode Lawal, has said the significant and diverse contributions of women to societies, economic development, and nation-building can not be over-emphasised. Lawal, who spoke during a webinar marking the 2024 International Women’s Day on Tuesday, said that women deserve recognition not just on...