L The Global transparency body, Extractive Industries Transparency Initiative (EITI), has scored the Nigerian National Petroleum Company Limited (NNPC Ltd) very high in its latest global assessment. The EITI’s Deputy Executive Director, Mr Bady Baldé , made this known when he led an EITI delegation to the Group Chief...
BUSINESS
By JOY ADARA, Abuja – The Nigeria Civil Authority (NCAA) has suspended the permit of Mattini Airline Services Ltd pending completion of investigations into the runway excursion involving a Challenger CL 601 aircraft, operated by the firm. Recalled that a private jet operated by the airline which had departed...
Alhaji Abubakar Abdullahi, Chairman, Abaji Area Council of the Federal Capital Territory (FCT), has said security interventions by the FCT Minister, Mr Nyesom Wike, are reducing kidnappings and other criminal activities in the area. Abdullahi stated this during a security town hall organised by the Office of the Minister...
By EZEKIEL OBI, Abuja – The Minister of Power, Mr Adebayo Adelabu, has said the Federal Government is working to ensure outstanding payments are made to power generation companies to resolve the blackout. The minister stated this in a statement issued on Friday in Abuja by his Special Adviser,...
The Nigerian Exchange Ltd. on Friday recorded N138 billion growth following continued investors’ buy interest in stocks of Tier-one banks Specifically, the market capitalisation which opened at N55.900 trillion rose by N138 billion or 0.25 per cent to close at N56.038 trillion. Also, the All-Share Index rose by...
In a bid to fast-track the process of achieving the Final Investment Decision (FID) on the Nigeria-Morocco Gas Pipeline, the Federal Government has intensified discussions with the Kingdom of Morocco. The discussion which held on Wednesday, 24th January, 2024, on the side-lines of a meeting between the Honourable Minister...
The Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, and Moroccan Minister of Energy Transition and Sustainable Development, Ms. Leila Benali during a meeting to expedite final investment decision on Nigeria-Morocco Gas Pipeline Project Abuja, Jan. 25, 2024 (NAN) The Federal Government has intensified discussions with...
Microsoft joined Apple on Wednesday as a three trillion dollar company, as its big bet on artificial intelligence continued to impress Wall Street. Now second to Apple as the world’s biggest company by market capitalization, Microsoft’s shares were up 1.31 percent at $404. Apple remains narrowly in first...
The National Bureau of Statistics (NBS), said prices of beef, rice, beans, onion, tomato, and other food items increased in December 2023. It said this in its Selected Food Prices Watch report for December 2023 released in Abuja on Wednesday. The report said that the average price of...
Telecoms firm Nokia has signed a multi-year global patent cross-license agreement with China’s Oppo, the Finnish company said on Wednesday. The deal also includes cross-licensing for 5G standard-essential patents. Nokia and Chinese device maker Oppo have been in a dispute for over two years regarding 5G patent payments....
The Minister of Finance, Mr Wale Edun, has said the Federal Government is targeting a 77 per cent increase in Internally Generated Revenue (IGR). Edun, who is also the Coordinating Minister of the Economy, said this on Wednesday in Abuja, at opening of the 2024 Strategic Management Retreat...
President Bola Tinubu has said his administration will continue to provide the needed interventions in the oil and gas industry in line with the Petroleum Industry Act (PIA). He disclosed this on Tuesday in Abuja when he received a delegation from the Chevron Corporation, led by Mr Clay...
The domestic bourse on Tuesday appreciated further, making the market turnover on the Nigerian Exchange Ltd. (NGX) to rise by 12.97 per cent. Market activities showed that 747.51 million shares valued at N16.28 billion were exchanged in 16,589 deals. As a result, the All-Share Index rose by...
TotalEnergies in collaboration with the Nigerian National Petroleum Company Ltd., (NNPCL) has reiterated its commitment to ensuring consistent implementation of sustainable community development projects in Nigeria. Chief Upstream Investment Officer, NNPC Upstream Investment Management Services (NUIMS), Mr Bala Wunti, disclosed this at the TotalEnergies’ Symposium and Awards with...
Transactions on the Nigerian Exchange Ltd. (NGX) on Monday continued on a positive territory, following sustained buy interest in Dangote Cement and 41 other stocks. The market capitalisation gained N673 billion or 1.3 per cent to close at N52.408 trillion, compared with 51.735 trillion recorded at the previous...
Dangote Cement’s market capitalization has hit N10tn at the close of trading on Monday, emerging as the first company to achieve that milestone on the Nigerian Exchange. It closed trading with a N10.098tn market cap. This month, it displaced Airtel Africa as the most capitalised stock on the...
Out-going Liberian President, President George Weah, said on Sunday he was leaving behind a better economy than he inherited when his administration came into office six years ago. “ Tomorrow, President-Elect Joseph N. Boakai will inherit a stronger economy than I inherited,” Weah said in his address which...
The National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from N4,828.18 recorded in November 2023 to N4,962.87 in December 2023. This is contained in the Bureau’s “Cooking Gas Price Watch’’ for December 2023 released on Monday in Abuja. The report said...
While the explosion of debt is throwing a shadow over global economic growth, experts warn that Sub-Saharan Africa, where several countries are already in default, is experiencing its worst-ever crisis. The rise in interest rates and over-indebtedness is already crimping the ability of countries to finance their development, as...