The Nigerian National Petroleum Company Ltd (NNPCL) has announced the signing of an agreement with African Refinery for a share subscription agreement with Port-Harcourt Refinery, which will enable the parties to run a 100,000bpd refinery within the Port-Harcourt Refinery complex. This disclosure was contained in a press statement on the company’s official X handle, which […]
….Targets $10Bn Foreign Direct Investment The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has signed the Consolidated Guidelines for the implementation of Fiscal Incentives for the Oil & Gas Sector – a key component of the Federal Government’s fiscal reforms agenda aimed at enhancing the performance of the […]
The Federal Airports Authority of Nigeria (FAAN) has notified the public and all aviation stakeholders that Runway 18L/36R is now reopened for flight operations at 19:58hrs on Tuesday. It stated that the reopening of the runway followed its earlier closure due to an incident involving a Dana Air aircraft, with registration number 5N-BKI, which overshot […]
The Federal Government has announced plans to commence the loan disbursement process for micro, small and medium enterprises (MSMEs) and manufacturers under the Presidential N200 billion Intervention Fund scheme. President Bola Tinubu launched the scheme on October 17, 2023, to cushion the effects of the removal of petrol subsidy on entrepreneurs. The Minister of Industry, […]
Dangote Refinery’s management has announced a further reduction in the price of Automotive Gas Oil (AGO) diesel from the N1000/litre earlier reported last week to N940/litre for customers buying 5 million litres and above from the refinery. In a statement signed by the company’s Head of Communications, Mr. Anthony Chiejina the management maintained that the […]
The National Agency for Science and Engineering Infrastructure (NASENI) has opened discussions with Nasarawa State Government and Bobtrack Tractors, a division of Saint Bob Motors Limited, on the manufacturing and assembling of tractors in the North-Central geopolitical zone. A statement issued on Monday by the agency’s Director, Information, Segun Ayeoyenikan, on the multibillion Naira project […]
Despite sundry reform initiatives of the President Bola Tinubu-led administration to revitalize the nation’s economy, latest forecast from the International Monetary Fund (IMF) indicated that Nigeria’s economy continued its unimpressive performance, dropping into the fourth position in Africa economies’ ranking chart. This is coming barely two years after it was ranked as Africa’s largest economy […]
…As Comprehensive Income Surges By 1,122% In FY 2023 The Nigeria Sovereign Investment Authority (NSIA) on Thursday restated its continued commitment to strong corporate governance, accountability, transparency and inclusion of critical stakeholders in its continued strive to improve the nation’s infrastructure for improved performance of the economy and value-addition to socioeconomic well-being of the […]
The Federal Government has assured that Nigerians and the global community that it will continue to highlight the progress made so far in its current drive to grow the Nigerian economy in order to attract more foreign investment into the country for socioeconomic well being of the citizenry. The Minister of Finance and Coordinating Minister […]
Gallagher Re has estimated that global insured losses from natural catastrophes in Q1 of 2024 were $20 billion, heavily driven by severe convective storm (SCS) activity in the US. According to the global reinsurance broker’s Natural Catastrophe & Climate Report, insured losses in Q1 2024 were 10% higher than the decadal average of $18 billion. […]