The Nigerian National Petroleum Company Ltd (NNPCL) on Tuesday reported that 157 incidents of crude oil theft were recorded in the Niger Delta region between December 30, 2023 and January 5, this year In a documented post on X on Tuesday, company listed the incidence sources as including the Nigeria AGIP Oil Company, Pipeline Infrastructure […]
….Estimates GDP To Grow By 3.7% The World Bank in its just published ‘Global Economic Prospects For January 2024’ has projected that Nigeria’s per capita income will return to its pre-pandemic level by 2025. The Bretton Woods institution hinged its latest forecasts on current reforms initiatives of the Nigerian government which, it also noted, would […]
President Bola Tinubu on Tuesday summoned the Minister of Interior, Mr Olubunmi Tunji-Ojo, to the Presidential Villa, Abuja over alleged award of a consultancy contract of N438 million by the embattled Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, to a company in which the minister allegedly has interest in. News reports indicated […]
The Nigerian Exchange (NGX) on Tuesday recorded its highest single-day gain since June 13, 2023 as the All-Share Index (ASI) appreciated by 3.57%, gaining 2,867.31 points to reach a total of 83,191.84 points at theend of the day’s trading session. The feat came barely 24 hours after the ASI peaked at 80,000 mark on Monday. […]
Despite promises by the BUA Cement’s management to deliver cement at lower prices to consumers this year, a new report by Cardinal Stone, a full-service investment banking and multi-asset management firm, has projected that prices of the commodity may further soar this year. The just published report titled “Nigeria Cement Rebounding from a Tumultuous Year” […]
Globacom Limited, one of Nigeria’s mobile network operators (MNOs) has denied reports making round in the public space that it owes MTN Nigeria interconnect charges. A news report from the News Agency of Nigeria (NAN) on Tuesday indicated that a reliable source in telecoms company disclosed that the amount due for payment was N1.6 billion […]
The Nigerian Communication Commission (NCC) on Monday issued a 14-day ultimatum to unauthorised telecom operators using the 5.4GHz Frequency spanning 5.430 – 5.725 GHz band to vacate the frequency band or face regulatory sanctions. The industry regulator, in a public notice signed by its Director of Public Affairs, Reuben Mouka, indicated that the 5.4 GHz […]
Dangote Refinery has expressed its readiness to start refining operation following the delivery of the sixth batch of barrels of crude supplied by the Nigeria National Petroleum Company Limited (NNPCL). The one million barrels of crude oil delivered by MT ALMI SUN at the Single Point Mooring (SPM-C2) at the Dangote Offshore Oil Terminal (DOOT) […]
To avoid a shut down of the nation’s maritime industry operations, the Managing Director of the Nigerian Ports Authority (NPA), Mr Mohammed Bello-Koko, has intervened in recent faceoff between the Maritime Workers Union of Nigeria (MWUN) and marginal field operators of the oil and gas industry over non-compliance with stevedoring regulations. The NPA boss formally […]
The Nigerian Electricity Regulatory Commission (NERC) has hinted of its plans to sell the Kaduna Electricity Distribution Plc (KEDC), the sixth largest power distribution utility over a $130 million indebtedness. The Federal Government, through its Bureau of Public Enterprises (BPE), also owns 40% equity in the firm. A news report from Reuters indicated that the […]