The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production increased to an average of 1.238 million barrels per day (bpd) in June 2022. OPEC made this known in its Oil Market Report for July 2022 which was obtained by the News Agency of Nigeria (NAN)...
BUSINESS
By JOY ADARA, Abuja – Upon the effluxion of the amnesty provided by the Voluntary Assets and Income Declaration Scheme (VAIDS) set up by the Federal Government of Nigeria through the Federal Ministry of Finance, the Joint Tax Board (JTB) in collaboration with the Federal Inland Revenue Service (FIRS)...
Some economists have suggested diverse ways in which the Federal Government can overcome the rising food prices in the country. They made the suggestions in separate interviews with the News Agency of Nigeria (NAN) on Monday in Lagos. Food inflation rate in Nigeria rose, month-on-month (MoM) to 2.0 per...
Thales, Qualcomm and Ericsson unveiled Monday a plan to allow smartphones to communicate directly with satellites, a “space-based network” they hope will bring connectivity to the entire globe. The three firms envisage launching hundreds of satellites with 5G capabilities to bring coverage to “extreme geographies or remote areas across...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) started the new week with an assurance to its investors and stakeholders that the days of complacency were over. The assurance came following the repositioning of the company to focus on profitability and value addition to its shareholders. The GMD/CEO of...
Elon Musk pulled the plug on his $44 billion deal to buy Twitter on Friday, accusing the company of “misleading” statements about the number of fake accounts, a regulatory filing showed. Musk terminating the deal that he inked in April to buy the social media giant sets the stage...
The Cinema Exhibitors Association of Nigeria (CEAN) on Saturday said it recorded N363 million as total ticket sales in all cinemas across the country for the month of June. Mr Ope Ajayi, National President of CEAN, disclosed this in an interview with the News Agency of Nigeria (NAN) in...
Polaris Bank has reaffirmed its commitment to the growth of Nigeria’s Small and Medium Enterprises (SMEs) as it announces the sponsorship of the 6th Lagos Fashion Souk 2022. The event is organized in partnership with Nigeria’s foremost event management company, EVENTFUL Limited. The two-day Fashion Souk/business fair will hold...
Investors have gained N11.98 billion after a three-day consecutive negative trading at the nation’s equities market. The market capitalisation stood at N27.807 trillion, representing a 0.04 per cent, an increase from the N27.795 trillion recorded at close of trade on Wednesday. The gains were recorded majorly on trading of...
By TENEBE ANTHONIA, Lagos – Capital market stakeholders have commended NGX for providing a vibrant listing platform for government and corporates to meet their business objectives. This was stated during the NGX CEO Roundtable held on Thursday. The event, themed, “Creating the Enabling Ecosystem for Accessing Capital from the...
By JOY ADARA, Abuja – The Executive Chairman of the Federal Inland Revenue Service (FIRS) Muhammad Nami has called on professional bodies in the regulation of tax practice to lead conversations on matters of tax policy and tax laws in the country. Mr. Muhammad Nami made the call yesterday...
The Dangote Group says it will commence civil works for the construction of its Sugar factory in Tunga, Awe Local Government Area of Nasarawa State. A team of two men from the factory, said it would employ 1000 people from the immediate community after taking off. Mr Maryoud Elsunni,...
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said the Petroleum Industry Act (PIA) had introduced incentives to grow reserves. The commission also said that the aim of the Act was to increase Nigeria’s daily production toward attaining 40 billion barrels and 220TCF of oil and gas reserves. It said...
Fidelity Bank said it planned to take over the boards of Kano, Benin and Kaduna Distribution Companies (DISCOs) and to collateralise their shares. The Director-General, Bureau of Public Enterprise (BPE), Alex Okoh, and the Executive Chairman, Nigerian Electricity Regulatory Commission (NERC), Sanusi Garba said this in a joint statement...
By OLA MUDOPE, Lagos – Nigeria’s leading airline, Air Peace, has revealed plans to extend flight operations to Guangzhou, China and Mumbai, India, with scheduled flight operations this month. The Spokesperson of Air Peace, Mr Stanley Olisa, who stated this in a statement on Tuesday in Lagos, said that...
Sen. Margery Okadigbo, Chairman, Board of Directors, Nigerian National Petroleum Company Limited (NNPC) says roadmap for new NNPC will be hinged on the Petroleum Industry Act (PIA) 2021. Okadigbo made this known on Tuesday in Abuja at the ongoing 21st Nigerian Oil and Gas (NOG) Conference and Exhibition, tagged...
The Central Bank of Nigeria (CBN) has advised banks and other financial institutions to embrace opportunities represented in open banking to drive financial inclusion in the country. Mrs Aishah Ahmad, the Deputy Governor, Financial Systems Stability Directorate, CBN, gave the advice at the Chartered Institute of Bankers of Nigeria...
Mr Adewale Tinubu, the Group Chief Executive Officer, Oando Plc, says Nigeria is losing about 20 per cent of its crude oil production to oil thieves and pipeline vandals daily. Tinubu made the disclosure while speaking at the opening ceremony of the 2022 Nigerian Oil and Gas (NOG) conference...
The Organisation of the Petroleum Exporting Countries (OPEC) has tasked the Federal Government to develop new technologies, strengthen human capacity and innovation to meet the world’s growing need for energy. OPEC said regular investment was needed in view of global oil sector requirement of cumulative investments of 11.8 trillion...
The Debt Management Office (DMO) has listed N250 billion Sovereign Sukuk on the Nigerian Exchange (NSE) Limited and the FMDQ Securities Exchange. The News Agency of Nigeria (NAN) reports that the N250 billion Sovereign Sukuk was issued in December 2021. Proceeds from the Sovereign Sukuk, which was heavily oversubscribed,...