After over three years of suspension of crude oil production operations in Awoba Oil Field in River State, the Nigerian National Petroleum Company Limited (NNPCL) on Tuesday announced the resumption of production operations on the oil field. The Chief Communications Officer of the oil company, Olufemi Soneye, recalled that the Awoba field last produced oil […]
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 Federal Operations Unit Zone C of the Nigeria Customs Service (NCS) has reported that it seized contrabands worth N7.6 billion between January 25 last year and April 19th this year. The outgoing Controller of the Zone, Comptroller Kayode Kolade, who gave these figures in his farewell message during a brief handover to his successor, […]
The Federal Government has ordered the resale of electricity Distribution Companies (DisCos) now under the management of banks and the Asset Management Company (AMCON) within the next 90 days to reputable power operators as part of its current drive to improve power supply nationwide. The order was given by the Minister of Power, Adebayo Adelabu, […]
To strategically position Nigeria in the frontline of current global drive towards artificial intelligence (AI) development, the Federal Government has secured $3.5 million seed fund for Nigeria’s Artificial Intelligence (AI) strategy implementation from development and other independent partners. The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, made this disclosure on Friday at the […]
Investment researchers at Bancorp Securities Limited, a leading investment research and consulting firm, have predicted appreciable positive sentiments in the Nigerian Exchange trading sessions as investors would reposition amidst the previous week’s lower prices The experts, in the firm’s ‘Weekly Stock Recommendation: April 22 – April 26th 2024’ report noted that the nation’s economic landscape […]
The Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, has expressed the readiness of the agency to partner the United States Agency for International Development (USAID) and other relevant stakeholders to address Nigeria’s food insecurity challenge. Inuwa made this remark when he received representatives from USAID, led by the Senior Digital Advisor […]
Despite concerns being expressed by analysts about Nigeria’s rising debt stock, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announced on Sunday that the Federal Government had secured approval of the World Bank for $2.25 billion loan. Edun, who gave this hint during a press conference at the annual meetings […]
The Federation Account Allocation Committee (FAAC) on Friday confirmed that it shared a total sum of N1123.391 billion from the March 2024 Federation Account revenue to the Federal Government, States and Local Government Councils. The Committee, in the communiqué issued at its April, 2024 meeting, stated that the N1123.391 billion total distributable revenue comprised statutory […]
Kaspersky, a Russian multinational cybersecurity and anti-virus services and solutions provider, has raised new concerns about the rising trends in the malware development market as new stealers such as Lumma, Redline remained the dominant data-stealing malware used by cybercriminals. Kaspersky Digital Footprint Intelligence latest findings showed that more than half of every device (55%) targeted […]