The Nigerian National Petroleum Company Limited (NNPCL) has signed a $741 million maintenance service contract with Daewoo Engineering and Construction Company Limited for a quick fix repair of the moribund Kaduna Refinery and Petrochemical Company (KRPC). A statement by the Nigerian oil company indicated that the signing ceremony was performed on Thursday by the top […]
The Nigerian Exchange (NGX) closed positive for the second consecutive day on Thursday amidst buy-interests and sell-offs by investors as bulls dominated proceedings, driving up the broad market’s index. Available data from the market’s moderating institution showed that at the end of the trading session, the All-share Index (ASI) appreciated by 0.93% to close at […]
The Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari, on Thursday said that the lingering nationwide fuel scarcity was not connected to unavailability of product but to the challenges in the oil industry’s downstream subsector. Kyari, who made this remark during an interview on the Good Morning Nigeria Programme […]
The Naira stabilized in its exchange rate against the US dollar at the black market in the early hours of Thursday, trading at N745/$1, the same rate it exchanged in the previous day’s trading session. Some black market FX traders linked the moderation of the local currency’s rate partly to current policy initiatives by the […]
The Central Bank of Nigeria (CBN) on Thursday directed deposit money banks (DMBs) to immediately begin the payment of the newly redesigned naira notes to customers over the counter subject to a maximum daily withdrawal of N20,000 per customer. In a statement issued by apex bank’s Director, Corporate Communications, Osita Nwanisobi, the new directive was […]
President Muhammadu Buhari has charged the Ministry of Finance Incorporated (MOFI) to grow its assets under management from the current value of N18 trillion to at least N100 trillion in the next 10 years. The president gave the charge at the launch of the new MOFI and inauguration of the Governing Council and Board of […]
The National Project Coordinator of the Agro-Processing, Productivity Enhancement and Livelihood Improvement Support Project (APPEALS), Alhaji Mohammed Jobdi, on Wednesday disclosed that the project had supported a total of 55, 864 farmers since its implementation nationwide. The Coordinator, who gave these figures during the progress monitoring meeting of the project implementation in Abuja with the […]
Trading at the Nigerian Exchange (NGX) closed positive today amidst buy-interests and sell-offs as bulls dominated the session, thereby increasing the broad market performance Consequently, the equities market’s All-share Index (ASI) appreciated by 0.49% to close at 53,499.68 points while the market capitalization grew by N142 billion to close at N29.139 trillion. The market’s indices […]
The Independent Marketers Association of Nigeria (IPMAN) has promised fuel users in the country of improved product supply and lower pump prices within the next two weeks. The association’s National Operations Controller, Mr Mike Osatuyi, made this pledge on Wednesday while responding to a question on Arise TV’s Morning Show programme. The marketing chief hinged […]
The Executive Chairman of the Federal Inland Revenue Service, Muhammad Nami, has said that the Public Service Person of the Year 2022 award conferred on him by Leadership Newspaper is a morale booster for the revenue agency to do more in furtherance of the fulfillment of its mandate. Nami made this remark during a chat […]