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)....
BUSINESS
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...
Prof. Kehinde Owolarafe of the Department of Agriculture and Environmental Engineering, Obafemi Awolowo University (OAU), Ile-Ife, on Tuesday, said that Nigeria loses N94 billion annually to palm oil importation. Owolarafe said this at a one day sensitisation workshop for oil palm producers, processors, distributors, marketers, retailers and users,...
Ecobank Transnational Incorporated (ETI), has signed 250 million dollars senior unsecured bridge-to-bond loan facility with the African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC). Group Chief Financial Officer, ETI, Dr Ayo Adepoju, announced this in a notification to the Nigerian Exchange Ltd.(NGX) on Monday in Lagos. Adepoju...
Heirs Holdings, an African investment company, has launched a new subsidiary, Heirs Technologies Ltd., with an ambition to empower Africa’s digital transformation. Heirs Holding said this in a statement made available to the News Agency of Nigeria (NAN) on Monday in Lagos. Mr Tony Elumelu, Founder and Group...
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has urged all Microfinance Banks (MfBs) to ensure prompt rendition of statutory monthly returns through FinA application. The CBN Director, Financial Policy and Regulation Department, Valentine Ururuka, disclosed this in a circular addressed to all MfBs. Ururuka said...
The National Average Cost of a Healthy Diet (CoHD) per adult per day was N858 in January 2024, the National Bureau of Statistics (NBS), has said. The NBS said this in its CoHD report for January 2024 released in Abuja on Saturday. The bureau said the CoHD is...
Exorbitant airfares is not responsible for decreased air travel across Nigeria currently being experienced, airline operators said in Lagos on Saturday. Those who spoke with the News Agency of Nigeria (NAN) said the fall in air travels was attributable to normal low season in the industry and not...
The Nigerian stock market on Friday ended the week with N563 billion gain. Specifically, the market capitalisation which opened at N56.730 trillion, gained 0.99 per cent or N563 billion to close at N57.293. The All-Share index also rose by 0.99 per cent or 996 points to close at...
The Central Bank of Nigeria (CBN) has reported a significant increase in foreign exchange inflow into the economy in February. Acting Director, Corporate Communications Department of the CBN, Mrs Hakama Sidi, said this in a statement on Friday in Abuja. Sidi said that the upsurge in forex...
By PATRICK ABANG, Càlabar – A Financial expert, James Etudor, says the use of bitcoin as a hedge unlike traditional currencies has a capped supply making resistance to inflationary pressure. Mr. Etudor, who is the Manager of Ipaybtc, stated this in an exclusive interview with NATIONAL ACCORD in...
A new World Bankworld World w wereport says the global digital landscape remains uneven and is becoming synonymous with a development divide. This is contained in a statement issued by the World Bank on its new “Digital Progress and Trends Report 2023″, a copy of which was obtained...
Sustained buying interest in the shares of newly listed Transcorp Power on the Nigerian Exchange Ltd. (NGX) and Tier-one banks on Tuesday pushed the value of transactions on the Exchange up by 59.55 per cent. Analysis of the market activities showed trade turnover settled higher relative to the...
The Nigerian Exchange Ltd.(NGX) equity market on Monday opened positively, as gains in newly listed Transcorp Power Plc and 22 others grew the overall market capitalisation by N1.86 trillion. The News Agency of Nigeria(NAN) reports that Transcorp Power earlier listed 7.5 billion shares by introduction at N240.00 per...
A former President of Association of National Accountants of Nigeria (ANAN), Dr Samuel Nzekweccn, has commended the Central Bank of Nigeria (CBN) for revoking the operational licences of 4,173 Bureaux De Change operators. Nzekwe made the commendation while speaking with the News Agency of Nigeria(NAN) on Monday in...
The Central Bank of Nigeria (CBN) has successfully concluded the sale of government securities following the issuance of N1.053 trillion (680 million dollars) in short-term instruments. A statement issued on Sunday night by CBN’s Acting Director, Corporate Communications Department, Mrs Hakama Sidi, stated that the sale is part...
The African Development Bank (AfDB) is supporting Nigeria in the cultivation of rice, maize, cassava and soyabeans to boost food production. The bank is providing 134 million dollars to achieve this, it president, Dr Akinwunmi Adesina, said on Saturday after visiting the Centre for Dryland Agriculture (CDA) at...