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Crude production reconciliation creates rift in oil industry

Crude production reconciliation creates rift in oil industry

Court blocks Shell’s bank accounts Reallocation of crude oil volume from Nigeria’s Bonny Terminal between 2016 and 2018, following gaps in metered volume between oil majors and some indigenous firms, is responsible for allegations of crude theft in the nation’s ...

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Power grid collapses, plunges Lagos, others into darkness

NDPHC seals agreement on power supply to Togo

The nation’s power grid suffered its first collapse this year on Wednesday, plunging parts of the country into a blackout. Two of the electricity distribution companies in the country, Ikeja Electric Plc and Eko Electricity Distribution Company Plc, disclosed this ...

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Without police background, Bawa becomes EFCC boss

Without police background, Bawa becomes EFCC boss

• Appointment seals Magu’s fate • Seeking Senate’s confirmation rubbishes FG’s earlier position, lawyers declare Abdulrasheed Bawa will become first substantive chairman of the Economic and Financial Crimes Commission (EFCC) without police training if his appointment by President Muhammadu Buhari is ...

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D’Tigers battle South Sudan for 2021 FIBA Afrobasket ticket

D’Tigers battle South Sudan for 2021 FIBA Afrobasket ticket

Nigeria’s men’s senior national basketball team, D’Tigers, will take on South Sudan in their first game of the qualifiers for the 2021 FIBA Afrobasket Championship holding in Tunisia. The best teams from the qualifiers will pick the tickets for the ...

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FG subsidises electricity by N50bn monthly, says minister

FG subsidises electricity by N50bn monthly, says minister

The Federal Government has been subsidising electricity supply across the country to the tune of over N50bn monthly, the Minister of Power, Sale Mamman, has said. He said the subsidy spendings were because the government was worried by the incessant ...

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Marketers raise petrol price to N170, depots suffer shortage

Fuel price hike looms nationwide as marketers meet

Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa. Our correspondent observed that some filling stations in Lagos and Ogun states increased the pump price of petrol to N170 per litre ...

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Stock market sheds N40bn as 20 firms record losses

Stock market sheds N40bn as 20 firms record losses

The nation’s stock market finished lower on Tuesday as 20 firms saw their share prices decline at the end of trading. The Nigerian Stock Exchange All-Share Index fell by 0.19 per cent to close at 40,494.35 basis points from 40,571.67bps ...

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CBN’s fight against inflation failing, say economic experts

CBN’s fight against inflation failing, say economic experts

Economic analysts on Tuesday said the continued rise in the rate of inflation across the country showed that the fight against inflation by the Central Bank of Nigeria was failing. Experts in firms such as the Financial Derivatives Company Limited ...

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Ugwuanyi and the challenge of Southeast PDP

Ugwuanyi and the challenge of Southeast PDP

The Peoples Democratic Party (PDP) appears to be at the point of reinventing itself. Events of the last few weeks indicate that the party is desirous of reclaiming the seat of power in Anambra State. Apart from the several meetings ...

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How Nigeria can benefit from Okonjo-Iweala-led WTO – LCCI

How Nigeria can benefit from Okonjo-Iweala-led WTO – LCCI

The Lagos Chamber of Commerce and Industry has highlighted steps Nigeria needs to take in order to fully take advantage of the opportunities offered by the World Trade Organisation under the leadership of Dr Ngozi Okonjo-Iweala. The LCCI, in a ...

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Petrol subsidy may hit N11.2bn per week

Petrol subsidy may hit N11.2bn per week

• Crude oil price rises above $63 The subsidy on Premium Motor Spirit, popularly known as petrol, may have gulped at least N11.20bn in one week as the rise in global oil prices pushed up the landing cost of the ...

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Naira gains slightly, exchanges for 473/$

Naira gains slightly, exchanges for 473/$

The naira on Monday exchanged at  473/$ at the parallel market, after trading at  477 the previous week. At the Investors & Exporters forex window, the naira hit a high of  422/$ before closing at  390/$. The Central Bank of ...

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Reps condemn $750m annual loss to gas flaring

Reps condemn $750m annual loss to gas flaring

The House of Representatives says Nigeria is losing about $750m to gas flaring annually. It added that the flared gas could have been used to generate electricity for the country. The Federal Government has, however, said it is committed to ...

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Gas supply increase raised power generation by 3,358MW – NNPC

Gas supply increase raised power generation by 3,358MW – NNPC

The Nigerian National Petroleum Corporation in its latest monthly operations report said the increase in gas supply to 789 million standard cubic feet, which was delivered to gas-fired power plants, led to the generation of 3,358 megawatts of electricity. Also, ...

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Conspiracy of Silence and Compromise: Ports & Cargo Seizes 400 Imported Containers, Eyes N460m Demurrage

Conspiracy of Silence and Compromise: Ports & Cargo Seizes 400 Imported Containers, Eyes N460m Demurrage

* Dispatches 200 boxes in one week after Agents protest  * Shippers’ Council keeps mum, Bollore fingered By Kenneth Jukpor Despite the much publicized campaign for enhanced ease of doing business at Nigerian ports, the reality seems to be the ...

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Audacious Adesuwa

Audacious Adesuwa

Adesuwa Okunbo Rhodes is the founder/Managing Partner, Aruwa Capital Management, one of the few women-led and owned investment firms in Sub Saharan Africa and is committed to advancing women’s economic empowerment throughout all of its investments through its gender lens ...

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BEARS: Legislative Deaths

The demise of Ossy Prestige makes it the third member of the current 9th assembly of House of Representatives chamber to have met untimely their  death while in office. Ja’afaru Illiyasu and Mr Fagen-Gawo are two other members. Prestige before ...

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Amazon Invites Hundreds of US Entrepreneurs to Start Delivery Business

Amazon Invites Hundreds of US Entrepreneurs to Start Delivery Business

 Amazon has introduced a new corporate policy for  a new delivery business for Amazon packages. It announced a vacancy for hundreds of the US individuals who want to join the new wing of Amazon Delivery Service Partners, as entrepreneurs delivering packages ...

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Kaduna Dry Port Still Functions Like A Bonded Terminal – Raimi

Kaduna Dry Port Still Functions Like A Bonded Terminal – Raimi

By Kenneth Jukpor & Yusuf Odejobi Mr. Rotimi Raimi is the Port Manager, Kaduna Inland Dry Port. In this exclusive interview with MMS Plus newspaper, he bares his mind on the business of dry port operations in Nigeria. Raimi reveals ...

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How To Start Forex Business In Nigeria 

How To Start Forex Business In Nigeria 

By Ayoola Olaitan Shippers Guide is the learning page of MMS Plus newspaper. Here you learn the 5Ws and most important ‘H’ on various aspects of shipping. This week, we will take you through a detailed process of how to ...

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