The National leadership of Petroleum Tanker Drivers (PTD) Branch of NUPENG has condemned, in strong term, the torture, inhuman and degrading treatment meted out to two of its members in Owerri, Imo State capital, on Sunday, February 25, 2024 by overzealous men of the Nigeria Security and Civil...
BUSINESS
By JOY ADARA, Abuja – Worried by deteriorating electricity supply across the country, Minister of Power, Chief Adebayo Adelabu has summoned the Chief Executives of Abuja Electricity Distribution Company (AEDC) and Ibadan Electricity Distribution Company (IBEDC) over the worsening power supply in their regions. The minister also summoned...
Freeman and Ali were arrested in New Jersey on February 17, 2021, and have appeared before a Manhattan Federal Court. Asante and Aning were also arrested the same day (February 17, 2021) but in Virginia, with authorities saying they had been arraigned before the United States District Court...
Selloffs in the shares of Dangote Cement, Conoil, MTN Nigeria, among others, on Friday, dragged the equity market’s performance indices down by 1.23 per cent to close the week’s trading sessions. Specifically, investors lost N672 billion or 1.24 per cent, as the market capitalisation, which opened at N54.707...
By JOY ADARA, Abuja – The Nigerian National Petroleum Company Limited (NNPC Ltd) and the Organization of the Oil Exporting Countries (OPEC) have pledged to work closely together to achieve the nation’s aspirations to attract investments and grow production. The two organizations came to this accord when the...
The Dangote Group has restated its commitment in deepening Nigeria’s local content across business sectors. The representative of the company, Hajiya Halima Wali, said this on Thursday during the Dangote Group Special Day at the ongoing 45th Kaduna International Trade Fair. Wali said that investing in local industries,...
The Federal Government said it had paid over 120 million dollars out of the 1.3 billion dollars owed Gas Suppliers in the country. The Director, Decade of Gas Secretariat, Mr Ed. Ubong, on Thursday at the ongoing 7th Edition of the Nigeria International Energy Summit (NIES 2024), said...
Export is the sale of goods or services from a seller country to a buyer country, and it has the important effect of improving the economy of the selling country. A lot of people have believed that exporting involves taking some products and putting them on a plane...
The Organisation of the Petroleum Exporting Countries (OPEC) said on Thursday that the outcome of the 2023 UN Climate Change Conference (COP28) and its agreement, reflected OPEC advocacy on pathways towards reducing carbon emission. The Secretary-General of OPEC, Haitham Al-Ghais, said this while speaking with newsmen on the...
The Organisation of the Petroleum Exporting Countries (OPEC) says the oil industry will require about 14 trillion dollars investment from now to 2045, to meet global demand. The Secretary-General of OPEC, Haitham Al-Ghais, made this known while fielding questions from newsmen on Thursday on the sidelines of the...
By CALLISTUS OFFOR, Abuja – MTN Nigeria, one of the largest telecommunications companies in the country, has said the multiple fibre cuts were responsible for the network outage being experienced by its subscribers nationwide. It would be recalled that millions of subscribers experienced difficulty making and receiving calls for...
First Bank of Nigeria Plc has reiterated its commitment to supporting businesses through various initiatives and providing financial solutions for a thriving business environment and economic growth. Mrs Olaitan Martins, Group Executive, Transaction Banking, reaffirmed this during an interactive session with some Fast Moving Consumer Goods (FMCGs) business...
The African Export-Import Bank (Afreximbank) has said Nigeria is among the largest beneficiaries accounting for about 60 per cent of its US$30 billion funding of the energy sector in Africa. The Afreximbank said it has been able to make modest contributions in the oil and gas sector because...
Nick Agule Twitter: @NickAgule Email: nick.agule@yahoo.co.uk Facebook: Nick Agule, FCA 28.02.2024 Introduction The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) yesterday, 27th February 2024 briefed the nation on the outcome of its meeting. A major decision that was announced was to raise the...
The Federal Government said on Tuesday that none of the International Oil Companies (IOCs) doing business in Nigeria has left as against insinuations. Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, gave the clarifications during the inauguration of the ongoing Nigeria International Energy Summit (NIES 2024), at...
The Central Bank of Nigeria (CBN) has said the on-going reforms will check rising inflationary trend and address distortions in the foreign exchange market The CBN Governor, Yemi Cardoso said this on Tuesday in Abuja, while presenting the communique from the apex bank’s Monetary Policy Committee (MPC) meeting....
Transactions on the stock market closed negative on Tuesday for the secondary day, depreciating further by 1.38 per cent and in reaction to the outcome of the Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN). The News Agency of Nigeria (NAN) reports that CBN,...
The Federal Government has said the Obiafu/Obrikom/Oben (OB3) Gas Pipeline will be completed in March 2024. The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, made this known at the official opening of the 7th edition of the Nigeria International Energy Summit (NIES 2024) on Tuesday at...
The Central Bank of Nigeria (CBN) on Tuesday approved allocation of 20,000 dollars to all eligible Bureau De Change (BDC) operators across the country as part of its on-going reforms. Dr Hassan Mahmud, Director, Trade and Exchange Department, CBN, in a circular, said the move was aimed at...
The National Bureau of Statistics (NBS) says prices of beef, rice, beans, onion, tomato, and other food items increased in January 2024. It said this in its Selected Food Prices Watch report for January 2024 released in Abuja on Tuesday. The report said that the average price of...