The management of Dangote Petroleum Refinery has commenced registration of distributors for its products. The management in a statement on Friday in Lagos, said members of three prominent associations that constitute 75 per cent of the total market in Nigeria have been registered. The associations are Depot and Petroleum...
BUSINESS
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has scheduled the first Monetary Policy Committee (MPC) meeting, under the tenure of Mr Olayemi Cardoso as governor, for Feb. 26 and Feb. 27. The CBN’s Acting Director, Corporate Communications Department, Mrs Hakama Sidi-Ali disclosed this in a...
The domestic bourse on Friday ended the week on a positive note, with 844.49 million shares valued at N15.04 billion exchanged in 15,255 deals. As a result the All-Share index, went up by 2.88 per cent or 2651.2 points to close at 94,538.12 against 91,896.97 posted on Thursday. Similarly,...
First Bank of Nigeria Ltd., has demonstrated its appreciation of its loyal customers by giving away N31 million in the second draw of its Win Big Promo. The News Agency of Nigeria (NAN) reports that the draw, which was held at the banks’ headquarters in Marina, Lagos, was...
Jumia, one of Nigeria’s largest e-commerce destinations, has projected that the worth of the country’s ever-growing e-commerce industry will reach $22 billion in 2024. The company made the disclosure via a report titled: “Jumia’s “E-Commerce in Rural Areas in Nigeria” on Friday in Lagos. It noted that the...
A Federal High Court (FHC), Abuja, on Friday, ordered Mr Chinenye Duru, a Polaris Bank staff and account officer to Mr Victor Onukogu, to be remanded in a correctional facility over alleged N16.6 billion fraud. Justice Inyang Ekwo gave the order after Duru was arraigned by the office...
Stakeholders led by the National Oil Spills Detection and Response Agency (NOSDRA) have visited Foropa, a fishing settlement along the Atlantic coastline in Bayelsa to assess the impact mystery spill reported on Jan. 3. The mystery spills refer to crude oil leaks from unknown sources where there are...
By OLA MUDOPE, Lagos – In its avowed bid to drive and grow sustainable investments in Nigeria’s upstream for energy security and national economic development and in the process return value to all stakeholders, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Thursday met in Lagos with members...
By MBAFAN ADE, Abuja – Abuja Electricity Distribution Plc (AEDC), on Thursday consolidated its lead in the provision of integrated power solutions with the signing of a tripartite agreement with Daybreak Power Solutions Limited (Daybreak Power) and The Wood Factory Limited (Wood Factory), to pioneer the delivery of its...
Türkiye’s flag carrier, Turkish Airlines (THY) is the country’s most valuable brand, contributing 56 billion U.S. dollars to the national economy in 2023, Turkish President, Recep Tayyip Erdogan said on Thursday. “Turkish Airlines is not only Türkiye’s most valuable brand but has also made a name for itself...
[contact-form][contact-field label=”Name” type=”name” required=”true” /][contact-field label=”Email” type=”email” required=”true” /][contact-field label=”Website” type=”url” /][contact-field label=”Message” type=”textarea” /][/contact-form] Google on Wednesday introduced two updates, Circle to Search and Multisearch in order to enhance the search experience on the search engine. Vice-President, Search at Google, Ms Elizabeth Reid, said in a statement...
By TOM CHIAHEMEN, Abuja – The Nigerian Communications Commission (NCC), has put the phased disconnection of MTN and Glo on hold for a period of 21 days from January 17, 2024. Director, Public Affairs of the NCC, Dr Reuben Muoka, who announced this in Abuja on Wednesday, explained...
The Central Bank of Nigeria (CBN) has paid approximately $2 billion across various sectors, including manufacturing, aviation, and petroleum in its bid to clear the backlog of outstanding foreign exchange liabilities. The apex bank said it has also cleared up the entire liability of 14 banks and...
The All-Share Index, one of the performance indices of the Nigerian Exchange Ltd.(NGX), on Wednesday crossed a 90,000 benchmark, appreciating by 2.37 per cent. Specifically, the All Share Index rose by 2,92.15 or 2.37 per cent to close at 90,063.25 against 87,971.10 points on Tuesday. Also, the market...
By MBAFAN ADE, Abuja – The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mr. Mele Kyari has called for collaboration between the academia and the Oil & Gas Industry towards addressing the challenges of energy sufficiency and sustainability. Kyari made this call...
A Financial Expert, Mr Okechukwu Unegbu, has said the planned relocation of some key departments of the Central Bank of Nigeria (CBN) to Lagos was for administrative convenience. Unegbu, a past President of the Chartered Institute of Bankers of Nigeria (CIBN), said this in an interview with the...
By MBAFAN ADE – The African Energy Chamber (AEC), as the voice of the African energy sector, has strongly urged the Nigerian government to take a fast-tracked approach to approving the decision by British multinational oil and gas company, Shell, to sell its Nigerian onshore assets to...
Some telecommunications subscribers on Wednesday expressed displeasure over the barring of their lines by telcos, despite having linked their National Identification Number (NIN) with their SIM cards. The subscribers expressed their displeasure in separate interviews with the News Agency of Nigeria (NAN) in Lagos. NAN reports that telecommunications...
Union Bank of Nigeria has reassured its stakeholders of seamless service in spite of the leadership change. The bank gave the assurance in a statement on Tuesday in Lagos. The statement said the appointment of Mrs Yetunde Oni, as its new Managing Director, was a positive development, expressing...