Economic Confidential

NSIA Investment in NCX to Revitalize Operations

The Minister of Industry, Trade & Investment, Dr. Okechukwu Enelamah has said that the proposed strategic investment in the Nigeria Commodity Exchange (NCX) by the Nigeria Sovereign Investment Authority (NSIA) is aimed at revitalizing the operations of the Exchange...

NNPC Proposes Increase in Oil Royalty, Scraping of Investment Tax Credit in PSC

The Nigerian National Petroleum Corporation, NNPC, has proposed some key amendments to the Deep Offshore and Inland Basin Production Sharing Contract (PSC) Act to enable the Federal Government optimize the collection of royalties and other revenue in deep water...

Development Bank Takes-off With Access to $1.3bn

The Federal Ministry of Finance has confirmed the completion of the recruitment exercise for the Executive Management team of the Development Bank of Nigeria (DBN), and has formally applied for the issuance of its operational license from the Central...

NPDC Remits over $608m as Royalty, Petroleum Profit Tax in 2016

The Nigerian Petroleum Development Company, NPDC, the upstream subsidiary Company of the Nigerian National Petroleum Corporation, NNPC, has provided clarification on the reported non-remittance of some crude oil revenue to the Federation Account. In a presentation to the Senate Ad...

Petrol Price Template Crumbles

...Marketers may solely determine pump prices ...NUPENG suspends warning strike ...NNPC says refineries pump kerosene, diesel The Petroleum Products Pricing Regulatory Agency (PPPRA), which controls the cost of petrol in the country, is in disarray and this is disrupting the implementation of...

FG Tasks New NCC Board on Telecoms Service Quality

The Federal Government has charged the newly reconstituted board of the Nigerian Communications Commission to quickly address the rising incidence of poor quality of service in the telecommunications industry. Addressing the members at the inauguration of the board in Abuja,...
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