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 […]
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” […]
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) […]
The National Bureau of Statistics (NBS) has reported that the total number of road traffic crashes dropped to 2,187 in Q3 2023, from 3,412 in the corresponding quarter of last year, indicating a decrease of 35.90% year-on-year. The latest report by the Nigeria’s statistics coordinating agency titled ‘Road Transport Data Q3 2023’ published on its […]
BudgIT, one of the leading civic-tech civil society organizations championing transparency, accountability, and effective service delivery in Nigeria, has commended the Federal Government for taking a step toward transparency by publishing the 2024 proposed budget of Government-Owned Enterprises (GOEs) in the country. The CSO noted that the latest move by the government was partly in […]
Experts in Nigeria’s hydrocarbon resources industry foresee that the planned commitment of about $13.5 billion in upstream oil and gas investment by oil majors could serve as stimulus to help Nigeria achieve its 2.6 million barrels per day (mb/d) production target in the next three years. President Bola Tinubu had expressed the readiness of the […]
Gallagher Re, one of the leading global reinsurance brokerage firms, has reported that as of January 1st, 2024, reinsurance renewals, U.S property catastrophe incidents increased by as much as 50% for loss-hit business, primarily driven by record severe convective storm (SCS) activity. In its just released ‘1st View Report’, which discusses an overall more stable […]
The latest Stanbic IBTC Purchasing Managers Index (PMI) for Nigeria has reflected that the organized private sector (OPS) posted improved growth to 52.7 in December 2023, up from 48.0 recorded in the preceding month. However, despite the improved performance of the private sector, the business outlook of the economy for the new year ebbed to […]
The Lagos Chamber of Commerce and Industry (LCCI) on Monday charged the President Bola Tinubu-led administration on prevailing economic challenges in the country and specifically to provide more detailed plans and strategies to tackle inflation, under-employment, insecurity, and social inequality in the country. The leading organized private sector (OPS) group, in its statement on the […]