The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported that Nigeria’s crude oil production decreased to an average of 998,602 barrels per day (bpd) in the month of April 2023. Data released by the commission on the hydrocarbon resources output in the month under review, showed that the country produced 1.2 million (mbpd) April, comprising […]
The Director General, Budget Office of the Federation, Mr. Ben Akabueze has expressed some concern about Nigeria’s borrowing rate which is fast exceeding its borrowing limit Akabueze, who raised his concern about the surging public debt stock during the induction of newly-elected lawmakers of the 10th National Assembly at the International Conference Centre in Abuja, […]
….Says New Tax Hike Will Hurt Economy KPMG Nigeria, one of the leading tax advisory and economic research firms in the country, has charged the Federal Government to adopt fiscal measures to boost revenues from the nation’s hydrocarbon resources sector rather than hiking non-oil taxes in order to achieve an efficient fiscal system in […]
With just a few days to the inauguration of Dangote Refinery, the Lagos Chamber of Commerce and Industry (LCCI) on Wednesday commended the efforts of its visioner, Alhaji Aliko Dangote, and the Federal Government for translating the local crude oil refining dream into a reality. The leading organized private sector (OPS) group, in a statement […]
Nigeria’s Vice President, Prof. Yemi Osinbajo, on Tuesday commissioned the Afam 3 Fast Power 240-megawatt (MW) turbine plant in Port Harcourt, Rivers State, as part of sustained efforts by the Federal Government to boost power generation and supply in the country. The Afam 3 power project, which was executed in collaboration with General Electric (GE) […]
Jaiz Bank Plc, Nigeria’s pioneer non-interest bank, has reported that its gross earnings rose to N9.88 billion in Q1 2023 compared to the N7.238 billion reported in the corresponding quarter of 2022. The non-interest lender in a statement on its financial performance in the quarter under review declared the unaudited profit results showed that it […]
…..also emerges BusinessDay’s Public Service Award 2022 winner The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, at the weekend was named the winner of the Institute of Chartered Accountants of Nigeria’s (ICAN’s) Merit Award 2023 in the Non-Members Category at the Institute’s 2023 Annual Dinner Awards held in Lagos. The […]
Unilever Nigeria Plc’s shareholders at the 98th Annual General Meeting (AGM) of the company held in Lagos approved the payment of N1.44 billion as dividend for the financial year ended December 31, 2022. In its audited financial results considered at the AGM, the company’s Board reported that the leading manufacturing company posted a turnover of […]
The Nigerian Senate on Wednesday approved N22.7 trillion spent by the executive arm of government as Ways and Means borrowings from the Central Bank of Nigeria (CBN) without the initial approval of the National Assembly. Ways and Means is a loan facility through which the CBN provide loans to the government to bridge the yearly […]
….as data revenue surges by 40% MTN Nigeria, one of the nation’s mobile network operators, has announced a 20.6% surge in its revenue for the first quarter of this year to N568 billion compared to the N470.9 billion revenue accruals it reported in the corresponding quarter of 2022 In the quarter under review, the telco’s […]