BUSINESS
Nigeria, Equatorial Guinea Sign Gas Pipeline Deal
Nigeria and the neighbouring Equatorial Guinea have sealed a deal on the Gulf of Guinea Pipeline Project, further affirming the partnership for mutual development, Nigeria's presidency announced on Thursday. Nigerian leader, Bola Tinubu and his Equatorial Guinean counterpart, Teodoro Mbasogo signed the agreement on Wednesday evening in Malabo, spokesman of Tinubu, Mr. Ajuri Ngelale said in a statement on Thursday. The...
Court Grants Nollywood Actress, Oluwadarasimi Omoseyi N5m bail
Oluwadarasimi Omoseyin, a Nollywood actress charged with alleged tampering and spraying of the redesigned Naira notes, was granted N5 million bail by a Federal High Court in Lagos State on Wednesday. The Economic and Financial Crimes Commission (EFCC) preferred two counts of charges against Omoseyin, who was arraigned before Justice Chukwujekwu Aneke on Monday. The charge was preoccupied with spraying and...
CBN Resumes Sale Of Dollars To Bureax De Change
The Central Bank of Nigeria (CBN) has commenced sale of dollars to Bureax De Change (BDC). Announcing the development in a statement on Tuesday, the apex bank said $20,000 will be available to each eligible Bureau De Change (BDC) operator across the country.The sum, according to the apex bank, is to be sold to each BDC at the rate of...
Dangote Refinery Reduces Fuel Price By N20
The Dangote Petroleum Refinery says it has reduced the price of its Premium Motor Spirit from N990 per litre to N970/litre. This is the amount marketers would buy the product from the refinery. In a statement released on Sunday, the Group Chief Branding and Communications Officer of the Dangote Group, Anthony Chiejina, said the reduction was to appreciate Nigerians as the...
Investors Are Losing Confidence In Nigerian Oil & Gas Industry – NNPC
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Mele Kyari, says the absence of a stable fiscal environment is inhibiting the growth of the Nigerian petroleum industry. He stated that the worst hit is the upstream sector. Kyari spoke when he received the House of Representatives Committee on Petroleum Resources (Upstream). He said international investors were losing confidence in the...
ANAN Set To Establish Polytechnic In Keffi
The Association of National Accountants of Nigeria, ANAN has concluded plans to establish a Polytechnic in Keffi, Nasarawa state as part of efforts to widen the platform for training of Accountants as well as making the profession more attractive. This is coming few months after the National Universities Commission, NUC granted the Association provisional licence for the establishment of ANAN...
FG Moves To Regulate Prices Of Goods As Hardship Bites Harder
The federal government has said plans are in the works to establish a National Commodity Board as a solution to the escalating food prices in the country. The commodity board will be expected to assess and regulate food prices, as well as maintain a strategic food reserve for stabilizing prices of crucial grains and other food items. Vice President Kashim Shettima...
Oil Production: We Can’t Meet OPEC Quota, It’s Responsible For Why We’re Broke — Buhari
President Muhammadu Buhari has said that with the high price of oil in the world markets, producing at about half our OPEC quota has deprived Nigeria of much needed revenue and foreign exchange. The President said this Friday at the State House, Abuja, while inaugurating the Presidential Committee on the National Economy. He, however, said that the government was working “tirelessly”...
FG earned N5.04tn from oil sale in 11 months – CBN
Between January and November last year, the Federal Government made about N5.04tn from the sale of oil, figures obtained from the Central Bank of Nigeria have revealed. The oil revenue, according to the CBN economic report for November, was lower than the N8.77tn revenue target provided for in the 2019 budget for the 11-month period. A breakdown of the N5.04tn oil...
NERC Urges Electricity Prepaid Customers To Update Their Meters
The Nigerian Electricity Regulatory Commission (NERC) has urged citizens with prepaid meter to update them before November 2024. The regulatory body said users who fail to update their meters before the said date won’t be able to recharge their prepaid meters. NERC, in a post on X, formerly known as Twitter, said updating the meters attracts no cost. The regulator said electricity...
