Business and Economy

The Nigerian National Petroleum Corporation (NNPC) and its partners in the Oil Mining Lease (OML 130) Production Sharing Agreements (PSA) and Production Sharing Contract (PSC) are set to earn over $760m from fresh Gas Supply Purchase Agreements (GSPAs) and Gas Entitlement Agreement (GEA) executed Thursday at the NNPC Towers. The …

By Ismaila Chafe Abuja, July 2, 2021 President Muhammadu Buhari will inaugurate the construction of Kano-Kaduna rail project in the next weeks, the Minister of Transportation, Chief Rotimi Amaechi disclosed on Friday in Abuja. The Minister, who was speaking at the weekly Presidential Media briefing organised by the State House …

By Edith Ike-Eboh Abuja, July 1, 2021 The Minister of State for Petroleum Resources, Chief Timipre Sylva, says  the Federal Government decision to acquire 20 per cent equity stake in all private refineries is to guarantee energy security and stability in the country. Sylva disclosed this when he received an …

By Itohan Abara-Laserian Lagos, June 30, 2021 Zenith Bank Plc has retained its position as the number one bank in Nigeria by Tier-1 capital in the 2021 Top 1,000 World Banks ranking published by the Banker Magazine. The Group Managing Director/Chief Executive of the bank, Mr Ebenezer Onyeagwu, disclosed in …

By Onyemakonor Ogbe ABUJA The Deputy Governor in charge of Financial Systems Stability, Central Bank of Nigeria (CBN), Mrs. Aishah Ahmad, has tasked stakeholders in the financial sector to ensure the development of a robust, inclusive and actionable National FinTech Strategy that is fit-for-purpose. Mrs. Ahmad gave the charge recently …

By Chijioke Okoronkwo Abuja, June 28, 2021 Vice President Yemi Osinbajo says Nigeria must continue engaging crack teams and subject matter experts, to avoid serious economic consequences that may arise from badly-negotiated  international economic agreements. The Vice President said that such knowledgeable teams would be in addition to the Nigerian Office …

By Itohan Abara-Laserian Lagos, June 27, 2021 The Group Managing Director/CEO of Access Bank Plc, Mr Herbert Wigwe, has been named as the African Banker of the Year for the second consecutive year. Wigwe disclosed this in a statement made available to the News Agency of Nigeria (NAN) on Sunday …

Chevron Nigeria Limited (CNL) on Friday reiterated its belief and support for the community-driven development model it adopted some 19 years ago, saying it has fast tracked development in its host communities. Mr Esimaje Brikinn, CNL’s General Manager, Policy, Government and Public Affairs, said this at the 9th Annual General …

… Pledges Expansion in Investment President/Chief Executive of Dangote Industries Limited, Aliko Dangote has received the highest civilian honour in Cameroon – the Commander of the National Order of Valour – from the President of the Republic, Paul Biya. According to President Paul Biya, the landmark honour was conferred on …

The Nigerian National Petroleum Corporation (NNPC) is collaborating with the Economic and Financial Crimes Commission (EFCC), Department of State Services (DSS), Nigeria Police Force (NPF), Nigeria Customs Service (NCS), Nigeria Security and Civil Defence Corps (NSCDC) and other relevant downstream and upstream stakeholders in the petroleum industry to curb the …

By Ayinde Olaide Bauchi, June 23, 2021 The Central Bank of Nigeria (CBN) says it has concluded arrangements to establish a health diagnostic centre in Bauchi State. Mr Haladu Idris, the CBN Controller, Bauchi State Branch, made this known in Bauchi on Wednesday when he led the management team on a courtesy …

By Chijioke Okoronkwo Abuja, June 23, 2021 Godswill Akpabio, Minister of Niger Delta Affairs, says the final report of  forensic audit of  Niger Delta Development Commission (NDDC) will be ready by the end of July. Akpabio, who fielded questions from State House correspondents on Tuesday at the Presidential Villa, Abuja, …

Phillips Oduoza, founder and chairman, NOVA Merchant Bank Limited is inspired by Nigeria’s future, which he believes holds potential waiting to be harnessed. NOVA Merchant Bank offers an integrated suite of financial solutions covering Wholesale Banking, Investment Banking, Asset Management, Wealth Management, Trade Services, Transaction Banking, Cash Management and Digital …

It is 28 August 2019, a Wednesday, and the rains still rage on, it is, after all, the heart of the West African rainy season. Bleak balls of clouds, gray and oppressive, hang just above the 11-storey Nigerian National Petroleum Corporation building, NNPC Towers, as anyone within Nigeria calls it. …

Chevron Nigeria Limited (CNL) has called for more cooperation from stakeholders in Niger Delta region to reduce oil theft and vandalism. Mr. Esimaje Brikinn, General Manager, Policy, Government and Public Affairs (PGPA) of CNL made this call on Thursday June 17, 2021, during the 9th Annual General Meeting of KEFFES …

President Muhammadu Buhari Friday at State House Abuja urged the MTN Group to make available top of the range service to its Nigerian subscribers. Speaking when he received in audience members of the board of MTN Group led by its president and Chief Executive Officer, Ralph Mupita, President Buhari said: …

Chevron Nigeria Limited (CNL) on Thursday said Chevron/NNPC joint venture has committed over N3.5 billion to eight community clusters in Southern Ijaw and Brass Local Government Areas in Bayelsa since 2005. The benefiting communities are Koluama 1 and 2, Ezetu 1 and 2, Foropa, Fish Town Ekeni,and Santana forming the …

By Itohan Abara-Laserian Lagos, June 16, 2021 Zenith Bank Plc has been named the Best Corporate Governance ‘Financial Services’ Africa 2021 by the Ethical Boardroom for the second consecutive year. Mr Ebenezer Onyeagwu, the Group Managing Director/Chief Executive of the bank, disclosed this in a statement made available to the …

The Bayelsa government on Wednesday indicated willingness to withdraw pending litigation against the Shell Petroleum Development Company of Nigeria (SPDC) over unpaid revenue running into billions of naira. It would be recalled that the Bayelsa government had dragged SPDC to court over failure of the oil firm to pay ‘development …

The Shell Petroleum Development Company of Nigeria (SPDC) says it has so far reported 51 leaks from its oil production activities in the Niger Delta in the current year. This is according to data obtained from the oil firm’s spills incident PORTAL on Tuesday. According to SPDC management, 44 of …

The Rector, St Pius X Spiritual Year Seminary, Akwu-Ukwu, Anambra State, Rev Fr Celestine Umeh, has narrated how the institution moved from being economically dependent to being self reliant after Mr. Peter Obi, the Vice Presidential Candidate of the Peoples Democratic Party (PDP) in the 2019 elections, came to their …

… Excites marketers, farmers in North After months of speculations, Dangote Urea fertilizer is now finally on sales nationwide and it currently pushes out a minimum of 120 trucks per day across the country. Group Executive Director, (Strategy, Capital Projects & Portfolio Development), Dangote Industries Limited, Devakumar Edwin, revealed to …

This year’s Beacon of Information and Communication Technology (BoICT) awards/lecture series scheduled for July 24, will be exploring 5G as a new frontier for superior service delivery in the telecommunications space. Now in its 12th year, the BoICT Distinguished Lecture Series is widely regarded as the most prestigious annual event …

The Minister of State for Petroleum Resources, Chief Timipre Sylva has commended President Muhammadu Buhari for his giant strides in the Niger Delta which is making a huge impact on the people of the area. The Minister made this known on Friday while speaking at a ceremony to mark the …

The Nigerian Senate has commended the Nigerian National Petroleum Corporation (NNPC) for its efforts towards entrenching transparency and stamping out corruption from its system. The commendation was given by the Chairman of the Senate Committee on Anti-Corruption and Financial Crimes, Senator Suleiman Abdu Kwari, at a hearing which held at …