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Foreign Withdrawals Hit N316.19bn In Eight Months

Foreign Withdrawals Hit N316.19bn In Eight Months

Investors’ participation in the nation’s stock market has dropped by 29.5 per cent year-on-year, data from the Nigerian Stock Exchange, has shown. The NSE in its monthly market report, said the total transactions executed on the trading floor dropped to ...

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Cooking Gas Skids In Fuel Stations Dangerous – NALPGAM

Cooking Gas Skids In Fuel Stations Dangerous – NALPGAM

The Nigerian Association of Liquefied Petroleum Gas Marketers has expressed concern over the installation of gas skids in fuel stations across the country. NALPGAM described the siting of gas skids in petrol filling stations as dangerous and contrary to global ...

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NDPHC Completes Electrification Projects In 2000 Ondo Communities

Gencos petition Presidency, NERC over admin charge

The Niger Delta Power Holding Company Limited says it has completed electrification projects in about 2000 communities in Ondo South Senatorial District of Ondo State, which had been without electricity for over 10 years. Thousands of communities in the six ...

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Oil Theft: Shell Nigeria Deploys HD Aerial Cameras

Oil Theft: Shell Nigeria Deploys HD Aerial Cameras

Shell Petroleum Development Company of Nigeria Limited has said it has deployed state-of-the-art high definition cameras for quick detection of and response to crude oil spills from its facilities. The oil major said that the cameras would also help in ...

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Controversy over Reps move against CBN cashless policy

Controversy over Reps move against CBN cashless policy

The House of Representatives yesterday ordered the Central Bank of Nigeria (CBN) to suspend the cashless policy on bank deposits, the implementation of which began on Wednesday this week. Adopting a motion under matters of urgent national importance sponsored by ...

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Discos Move To Install Six Million Meters

Discos Move To Install Six Million Meters

The 11 power distribution companies operating in Nigeria have commenced moves to install six million meters in the residents of their respective customers between 2019 and 2022. Only 3,793,895, representing 42.9 per cent of the 8,840,801 registered electricity customers,  had ...

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Non-passage of PIB, regulations drag about $100b oil projects

Non-passage of PIB, regulations drag about $100b oil projects

With drawbacks in the passage of the Petroleum Industry Bill (PIB), as well as various unfavourable fiscal and regulatory frameworks, stakeholders have estimated $100 billion worth of projects awaiting final investment decisions in Nigeria’s oil and gas sector. Specifically, the ...

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Oil output to increase by 35,000bpd – NNPC

Saudi refinery attack shocking –NNPC

The Nigerian National Petroleum Corporation says the country’s crude oil production is poised for an increased output of 35,000 barrels per day. This is following the resolution of the dispute among Shell Petroleum Development Company, Belema Oil and host communities ...

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How revival of moribund seaports will boost economy, by Otuaro

How revival of moribund seaports will boost economy, by Otuaro

The reactivation of moribund seaports in the country, especially those littering the South South, is the right step towards alleviation of poverty, underdevelopment and unemployment, thereby boosting the economy. Deputy governor of Delta State, Kingsley Otuaro, disclosed this on Tuesday ...

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Gbajabiamila pledges to end estimated electricity billing system

Gbajabiamila pledges to end estimated electricity billing system

Speaker of the House of Representatives, Femi Gbajabiamila, has hinted that the lower chamber of the National Assembly will ensure that Nigerians get adequate supply for the electricity they pay for. Speaking when he received management team of the Transmission ...

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CBN raises momentum in cash-less Nigeria project

Online transactions hit 2.8 million on Independence Day

Gives approval-in-principle to three payment service banks The race for the national roll-out of cash-less policy in the country has gained additional momentum, as the Central Bank of Nigeria (CBN), yesterday, gave an Approvals-in-Principle (AIP) to three Payment Service Banks ...

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Relief for ship owners as NPA waves charges for dry-docking of vessels

Relief for ship owners as NPA waves charges for dry-docking of vessels

Ship owners in the country have heave a sigh of relief as the Nigerian Ports Authority (NPA) waves dues on vessels coming for dry-docking and maintenance on the nation’s territorial waters. This move by the maritime industry watchdog is expected ...

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Dollar perched at 7-week highs vs yen before Fed decision

Dollar perched at 7-week highs vs yen before Fed decision

The dollar held near a seven-week high against the Japanese yen on Wednesday before the outcome of a Federal Reserve meeting where officials are widely expected to cut interest rates by a quarter of a percentage point. “The focus will ...

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CBN imposes extra charges on cash deposits, withdrawals

CBN imposes extra charges on cash deposits, withdrawals

Withdrawals and deposits of physical cash in Nigeria will now attract processing fees payable by individuals or corporate owners of bank accounts involved. Nigeria’s central bank said the measure was put in place to encourage its cashless policy and will ...

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Global inequality persists, threatens UN’s SDGs

Global inequality persists, threatens UN’s SDGs

Group wants opportunity gap bridged The rising global inequality, which has persisted for years, would impact the United Nation’s Sustainable Development Goals (SDGs), the GoalKeepers Data of the Bill & Melinda Gates Foundation, released yesterday, has warned. Global inequality has ...

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Experts Ponder Headway For Maritime Sector At 4th TAAM Conference

Experts Ponder Headway For Maritime Sector At 4th TAAM Conference

Veterans from various parts of the maritime sub-sector have agreed on the need to devise a strategic framework that guarantees innovations and sustainable solutions that to address the problems in the industry and achieve a greater level of growth. This ...

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Labour decries VAT increase, warns against anti-people policies

Labour decries VAT increase, warns against anti-people policies

Moves by the Federal Government to increase Value Added Tax (VAT) from five per cent to 7.2 per cent has continued to generate more controversies from different quarters. This is just as the United Labour Congress (ULC) has called on ...

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NPA wants ‘on-the-spot’ auction of overtime cargoes littering ports

NPA wants ‘on-the-spot’ auction of overtime cargoes littering ports

Irked by the huge volume of overtime cargoes occupying valuable spaces in the port’s environs, the Nigerian Ports Authority (NPA) has called for the immediate action of the cargoes. The Managing Director of NPA, Hadiza Bala Usman, who made the ...

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2020 Budget: FG Retains $55 Benchmark Despite Oil Price Spike

2020 Budget: FG Retains $55 Benchmark Despite Oil Price Spike

•Buhari deplores attacks on Saudi oil refinery, pledges solidarity •OPEC assesses impact of drone assaults on market Ejiofor Alike in Lagos, Omololu Ogunmade, Ndubuisi Francis and Chineme Okafor in Abuja with agency reports The federal government yesterday ruled out revising ...

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Buhari appoints Soludo, others as advisers, disbands Osinbajo’s team

Buhari appoints Soludo, others as advisers, disbands Osinbajo’s team

President Muhammadu Buhari yesterday replaced the Economic Management Team (EMT) headed by Vice President Yemi Osinbajo with an Economic Advisory Council (EAC). The new EAC, which reports directly to the president, will be chaired by an economist, Prof. Doyin Salami. ...

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