Daily Archives: September 3, 2020

Local Content: NNPC Invites Tenders To Lift Nigerian Crude Oil

Local Content: NNPC Invites Tenders To Lift Nigerian Crude Oil

By Kenneth Jukpor In a bid to encourage indigenous participation in crude affreightment, the Nigerian National Petroleum Corporation (NNPC) has issued a tender inviting qualified and reputable companies for the sale, purchase and lifting of Nigerian Crude Oil grades. This ...

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FEC Approves $3.1bn Customs Modernisation Project

Coronavirus: FG to review budget as oil price plunges

The Federal Executive Council (FEC) has approved $3.1 billion for the end-to-end automation of the Nigeria Customs Service (NCS). Minister of Finance, Budget and National Planning, Zainab Ahmed, made the disclosure at the end of the 14th virtual Federal Executive ...

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FG Increases Fuel Pump Price, Electricity Tariff

FG orders all bank, other account holders to re-register

By Kenneth Jukpor Nigerian citizens would have to brace themselves for tougher economic times as the federal government has just effected an increase in Premium Motor Spirit (PMS) as well as electricity tariff. Pipelines and Products Marketing Company Limited (PPMC) ...

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Nigeria records N1.8tn trade balance deficit in Q2 – NBS

Nigeria records N1.8tn trade balance deficit in Q2 – NBS

Nigeria recorded a trade balance deficit of N1.8 trillion at the end of the second quarter, making the third consecutive quarter of negative trade balance. The National Bureau of Statistics disclosed this in its ‘Foreign trade in goods statistics’ report ...

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Eagles to meet Cote d’Ivoire, Tunisia in friendlies next month

FIFA ranks Nigeria 29th best, Belgium maintains number one spot

The Nigeria Football Federation (NFF) has arranged two friendly matches for the Super Eagles next month in Austria. NFF President, Amaju Pinnick, said in a tweet yesterday that the matches, against Cote d’Ivoire and Tunisia, would hold on October 9 ...

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Reps minority caucus rejects fuel pump price increase

Petrol subsidy gulped N8.94tn in 10 years, says PPPRA

The minority caucus in the House of Representatives has condemned the increase in the pump price of Premium Motor Spirit (petrol) from N148 to N151.56k per litre. The Petroleum Product Marketing Company, on Wednesday, announced that the Nigerian National Petroleum ...

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Naira rebounds, exchanges for 420/$, speculators count losses

CBN decries speculation as naira plunges, exchanges for 465/$

The naira exchanged to the dollar at the parallel market at N420/$ on Wednesday, following the interventions made by the Central Bank of Nigeria in the Investors and Exporters window. Prior to CBN’s renewed intervention in the I&E window on ...

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NNPC group life assurance scheme records strong performance

NNPC group life assurance scheme records strong performance

• Achieves over N25billion premiums, N23.89 claims in 10 years As firms continue to fine-tune ways of protecting their workers against mishaps in the workplace, the Nigerian National Petroleum Corporation (NNPC) Group Life Assurance (GLA) scheme in the last 10 ...

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Zero-oil will facilitate economic diversification, says NEPC

Zero-oil will facilitate economic diversification, says NEPC

The Nigerian Export Promotion Council (NEPC), has said its One- State-One-Product Programme, under the “Zero Oil” initiative, is designed to create employment in states across the country. This would be done through the value-addition of identified products, enhanced income generation, and wealth ...

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Maersk Line stops surcharge on Nigerian cargoes

Shipping firm stops surcharge on Nigerian cargoes

An international shipping firm, Maersk Line, has halted the Peak Season Surcharge it earlier imposed on Nigerian-bound cargoes from September 1, 2020. Managing Director, Maersk Nigeria, Lara Lana, in a letter to the Nigerian Shippers’ Council (NSC), said he has ...

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