Shell Petroleum Development Company of Nigeria Limited (SPDC), has announced the lifting of the force majeure on its 250,000 barrels per day (b/pd) Bonny export terminal effective from Wednesday, 15 March, 2023. One of the company’s spokespersons, who gave this hint said: “The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC […]
The Ghanaian Government on Wednesday announced the phasing out of fuel subsidy regime in its fiscal measures to ensure stability and efficiency in the operations of the downstream sub-sector of the nation’s oil and gas industry. The Chief Executive Officer of Ghana National Petroleum Authority (NPA), Mr. Mustapha Abdul-Hamid, who broke this news during a […]
The Japanese Government has announced plans to boost cooperation with Nigeria and other Sub-Saharan African (SSA) countries by investing about $30 billion in Nigeria and others between now and year 2025. The Japanese Ambassador to Nigeria, Mr. Matsunaga Kazuyoshi, made this disclosure at an event organized by the Japanese Embassy to commemorate the 63rd birthday […]
Nigeria’s equities market trading closed negative on Wednesday as bears sustained their hold on the local bourse for the third consecutive session, thereby diminishing the broad market’s performance Consequently, the market’s All-share Index (ASI) depreciated by 0.41% to close at 55,490.2 points while the market capitalization declined by N127 billion to close at N30.228 trillion […]
The Debt Management Office (DMO) has offered four Federal Government of Nigeria (FGN) bonds valued at N360 billion for subscription through auction in March this year. The DMO indicates that the first offer is a February 2028 FGN bond valued at N90 billion (10-year reopening) at an interest rate of 13.98 percent per annum while […]
The Minister of Communications and Digital Economy, Prof. Isa Pantami, on Tuesday reported that over 6.9 million hacking attempts by cybercriminals were recorded in public websites during the Presidential and National Assembly elections conducted on February 25 nationwide. Noting that the hacking attempts during the day is a huge surge from the daily attempts of […]
The African Finance Corporation (AFC) and the African Export Import Bank (Afreximbank) are investing about $16 billion in oil and gas projects across Africa as part of their collaborative efforts to transform the industry into a sustainable growth source for the continent. The Global Head, Client Relations of Afreximbank, Rene Awembeng, who gave this hint […]
Indications that the lingering cash crunch didn’t really affect the general price level in Nigeria emerged on Tuesday as the National Bureau of Statistics (NBS) reported that the nation’s headline inflation rate still surged to 21.91% in February compared to the 21.82% rate reported in January 2023. The Bureau, in its ‘Consumer Price Index February […]
Bears sustained their grip on the Nigerian Exchange (NGX) again on Tuesday, thereby impacting negatively on the broad market’s performance As a result of the bearish trend of the local bourse, the market’s All-share Index (ASI) depreciated by 0.12% to close at 55,722.9 points while the market capitalization dipped by N36 billion to close at […]
The International Air Transport Association (IATA), the umbrella body of airline operators globally, has put the amount of foreign airlines trapped in Nigeria at $737.7 million. The association in a letter signed by its Area Manager West and Central Africa, Dr. Samson Fatokun, addressed to Nigeria’s Minister of Aviation, Hadi Sidika, stated that the foreign […]