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Friday, May 7, 2021

Nigeria-China trade volume Now $14.94b

The Nigeria- China trade volume in the last one year has hit $14.94 billion, it was learnt. It was also learnt that by the end...

Anxiety As Shell Declares force Majeure

Nigeria’s crude oil export capacity and its foreign exchange earnings may be seriously jeopardised in the days ahead as Shell Petroleum Development Company; SPDC,...
Refineries

FG earns N8 per litre on imported PMS – PPPRA

The Petroleum Products Pricing Regulatory Agency (PPPRA) said Federal Government would be collecting N8 per litre as subsidy on petrol imported by NNPC and...

Nigeria’s rice importation bill now $1.8b-Dangote

Africa’s richest man and President, Dangote Group, Alhaji Aliko Dangote has lamented that Nigeria spends nearly $1.8billion per year importing (approximately 3.2 million) metric...

Nigeria committed to free trade, Buhari assures WTO

President Muhammadu Buhari at the weekend said Nigeria remains fully committed to free international trade, despite its present economic circumstances. President Buhari spoke during an...

Credit to Private Sector hits N18.719tr

Banking sector credit to the private sector increased year-on-year by 2.5 per cent or N12 billion to N18.719 trillion at the end of December...

Buhari to Discuss Oil Price with Saudi, Qatar

President Muhammadu Buhari will discuss dwindling oil price in international oil market with the governments of Saudi and Qatar during his visit to both...

FG makes N2.6b from petrol price modulation

The suspension of the petrol subsidy and the adoption of price modulation regime from January have fetched N2.6 billion into a Federal Government special...
electricity

Tariff Reversal: 50,000 jobs at stake, blackout looms

Immediate consequences of the Senate's directive to the Nigeria Electricity Regulatory Commission and other stakeholders to reverse electricity tariff increment have been spelt out. The...
Refineries

Oil Glut: Russia, Saudi Arabia Agree To Freeze Output

There was renewed hope about the possibility of a rise in oil prices as the world’s top oil producers, Russia and Saudi Arabia, agreed...

Senate Asks NERC to Suspend New Electricity Tariff

The Senate has directed the Nigeria Electricity Regulatory Commission (NERC) Federal Ministry of Power and Electricity Distribution Companies, DISCOs, to suspend forthwith the implementation of...

$4bn Debt: FG, banks in talks

Nigeria is in talks with oil majors and banks to raise capital for new drilling and to repay up to $4bn in debt that...

Subsidy Gulps N307bn in 2015-NNPC

The Nigerian National Petroleum Corporation, NNPC, spent about N306.92 billion on subsidy between January and December 2015. A motorist refueling his car at a black...
Refineries

OPEC members to end oil glut-Kachikwu

The Organization of the Petroleum Exporting Countries (OPEC), is assiduously working with aim at finding solution to the oil glut which is one of...

NIPOST Seizes N84Bn in Foreign Currencies

Nigerian Postal Service (NIPOST) intercepted financial instruments worth over N83. 9 billion in foreign currencies meant for illegal transfers from January to December 2015,...

Nigeria, Japan Sign N2.17bn MoU for electricity supply

In it quest to improve electricity supply across the country especially in the Federal Capital Territory, the Federal Government has signed Memorandum of Understanding...

Crude oil Production in Nigeria hits 252,800bpd

Crude oil production in Nigeria has saw significat improvement, increasing by 252,800 barrels per day in January, up from the 1.697 million barrels per...

Banks in free trade zones to get tax, duty waivers

The Central Bank of Nigeria (CBN) has said it would henceforth grant tax and duty waivers to banks operating in the Free Trade Zones...

CBN reduces bank frauds by N3.96bn

The Central Bank of Nigeria(CBN) has saved about N4billion from being lost to fraud in 2015 through anti-fraud mechanism it put in place. The Director,...

Cassava Funds: Where is Cassava Bread?

Yusuf An-Nuphawi Nigeria’s agricultural sector received a Presidential goodwill once again in November last year when President Muhammadu Buhari led other stakeholders to Birnin-Kebbi in...