Business and Economy

The Minister of State for Petroleum Resources, Chief Timipre Sylva, has handed over five ambulances to Secretary to Government of the Federation, cum Chairman of the Presidential Taskforce for the Control of Coronavirus (Covid-19), Boss Mustapha. A release Saturday in Abuja by the Nigerian National Petroleum Corporation (NNPC) Group General …

By Ijendu Iheaka Aba (Abia) April 4, 2020 Abia Government said it has started production of certified quality standard protective medical kits and masks to carter for the needs of Nigerians and bridge the scarcity of imported ones. Mr Sam Hart, the Director-General, Abia State Marketing and Quality Management Agency, …

The Nigerian National Petroleum Corporation (NNPC) has commended Petroleum Tanker Drivers (PTD) for their sacrifice ferrying petroleum products across the nooks and cranny of the Country, a release by the corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, has said. The release stated that the tanker drivers’ …

The management of the Nigerian National Petroleum Corporation (NNPC) has commended Governor Nyesom Wike of Rivers State for his timely intervention which has resulted in the smooth distribution of petroleum products to Rivers and other neighbouring states. A press release by the Group General Manager, Group Public Affairs Division, Dr. …

ABUJA Monetary contributions to the account set up at the Central Bank of Nigeria (CBN) under the auspices of the Private Sector Coalition Against COVID-19 (CACOVID) have hit N15 Billion. A statement issued on behalf of the coalition by the Director, Corporate Communications, Central Bank of Nigeria, Isaac Okorafor, on …

By Edith Ike-Eboh Abuja, March 31, 2020 The Petroleum Products Pricing Regulatory Agency (PPPRA) has announced further reduction of the pump price of Premium Motor Spirit (PMS) also known as petrol from N125 to N123.50k per litre. The agency made the announcement in a statement signed by its Executive Secretary, …

In the face of the coronavirus pandemic and the resulting lockdown, Prudential Zenith Life Insurance is rolling out a range of services to help customers cope with the lockdown. The new services include a range of additional COVID-19 insurance cover enhancements, without additional premium charges, and a waiver for ‘pandemic’ …

The Central Bank of Nigeria, CBN, has assured that banks will remain operational during the lockdown directed by President Muhammadu Buhari to stop the spread of COVID-19 and has, thus,  advised against panic withdrawal of money. In a statement by Isaac Okorafor, Director, Corporate Communications of the apex bank, people …

The Private Sector Coalition Against COVID-19 (CACOVID), set up in Nigeria to battle the novel coronavirus pandemic has started operation in the country with the aim of providing and equipping medical facilities in the six geo-political zones of the country. In a statement, Isaac Okorafor, the Director, Corporate Communications, Central …

ABUJA As the Federal Government, through the Federal Ministry of Health and the Nigeria Centre for Disease Control (NCDC), intensifies effort to check the spread of the novel Corona virus pandemic in the country, the Central Bank of Nigeria (CBN) has commenced the disinfection of its head office and 37 …

The Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA , Dr. Bashir Jamoh has announced that following the current outbreak of COVID-19 and the need to mitigate the spread especially through shipping activities, the Agency has developed Guidance to support all types of ships that operate in …

The Nigerian National Petroleum Corporation (NNPC), International Oil Companies (IOCs) as well as Independent Oil Companies in the Upstream and Downstream Sectors, have donated N11billion to the Nigeria Centre for Disease Control (NCDC) as part of its support to combat the Coronavirus pandemic in the Country. Group Managing Director of …

Lagos, Nigeria, 27 March 2020: Sterling Bank Plc, has contributed N250 million as part of its commitment to the newly formed Nigerian Private Sector Coalition Against COVID-19 created to help channel resources to combat the coronavirus disease under the theme: “We need you.” The bank, in an email to its …

March 26, 2020 United Bank for Africa Plc (UBA) Thursday announced a donation of over 5 billion Naira (USD14 million), through the UBA Foundation, to catalyse a comprehensive pan-African response to the fight against the Coronavirus (COVID-19) global pandemic. The donation will provide significant and much needed support to Nigeria …

Fidelity Bank says one of its staff returning from holidays in the UK has tested positive for COVID-19 but the bank’s proactiveness may have have averted its possible spread to others.  The staff according to a press statement issued by the bank today, went into self-isolation and testing in line …

Following the current impact of the Corona Virus (COVID-19) on the global economy coupled with efforts by the Nigerian Government, including partial lockdown in some States and at the Federal level, to check the spread of the virus in Nigeria, the Central Bank of Nigeria (CBN) has informed stakeholders and …

The Vice-Presidential candidate of the Peoples Democratic Party (PDP) during the 2019 elections, Mr. Peter Obi, has appealed to market leaders nationwide to close down the non-essential parts of their markets, leaving such essential parts as drugs and food stuff, as one of the preventive measures towards curtailing the spread …

In compliance with the Federal Government’s directive on the COVID -19, the Management of the Nigerian National Petroleum Corporation (NNPC) has directed all office-based staff below Management cadre across all its formations to work remotely from home with effect from today. A release today in Abuja by the corporation’s Group …

Dangote Cement Plc yesterday donated N100 million worth of cement to the Lagos State government, to support the ongoing reconstruction process at the Abule-Ado area of Amuwo-Odofin Local Government of the state, which was affected by a pipeline explosion last weekend. The donation was made by the Chairman of Dangote …

By Okuanwan Offiong Lagos, March 22, 2020 MTN Nigeria on Sunday said its team would start working from home as part of the precautionary measures to stop the spread of COVID-19. Mr Funso Aina, the telcos Senior Manager, External Relations, said in a statement that from March 23, workers are …

Zenith Bank Plc, Nigeria’s leading financial institution, has donated N100 million to the Emergency Relief Fund set up by the Lagos State Government for the victims of theAbulo-Edo explosion. The Group Managing Director/ Chief Executive Officer of Zenith Bank Plc, Mr. Ebenezer Onyeagwu made the pledge on Wednesday, March 18, …

There is need to revisit the issue of the fragile nature of the Nigerian economy. For sometime now, the economy has been seating on the edge with so many delicate issues begging for attention. We recollected late last year that we tried to examine, review and analyze the 2020 Nigeria …

By Nicholas Obisike Enugu, March 19, 2020 Dangote Group of Companies has embarked on a fertiliser project of N4 trillion with production of two million metric tonnes to increase farmers yield in the country. The company’s General Manager (GM), Dangote Fertiliser, Sales and Marketing, Dr Iheanyi Orji, disclosed this to …

ABUJA Two days after it unveiled a six-point palliative to ameliorate the continued impact of the corona virus on the Nigerian economy and supply chains round the globe, the Central Bank of Nigeria (CBN) has announced its decision to increase its intervention in boosting local manufacturing and import substitution by …

By Ismaila Chafe Abuja, March 18, 2020 The Federal Executive Council (FEC) on Wednesday approved reduction in the size of the 2020 budget by about N1.5 trillion, as part of measures to address the impacts of Coronavirus disease on the Nigerian economy. The Minister of Finance, Budget and National Planning, …