Category Archives: cover

Aiteo, Total, other oil firms get Senate approval for N348bn outstanding subsidy claims

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The Nigerian Senate has approved the payment of =N=348 billion as outstanding subsidy claims to 74 petroleum marketers. This followed adoption of interim report of its Committee on Petroleum (Downstream) on the Promissory Note Programme and a Bond Issuance to Settle Inherited Local Debts and Contractual Obligations to Petroleum Marketers. Out of this amount, 55 oil marketers are […]

NSE lifts Eterna to medium-price stock

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Authorities at the Nigerian Stock Exchange (NSE) have reclassified Eterna Plc from low-priced stock to a medium-price, providing additional liquidity that will enhance price discovery for the downstream oil and gas company. As a medium-priced stock, stockbrokers could move the share price of Eterna with a minimum volume of 50,000 shares as against 100,000 minimum […]

VP Osinbajo inaugurates $350m BUA Cement Plant

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Vice President Yemi Osinbajo has called for a reduction in the price of cement, while inaugurating the 350 million dollars BUA Cement Plant at Kalambaina, Sokoto State. The  1.5 million metric tonnes per annum cement plant built by BUA Group, would provide at least 2,000 direct and 10,000 indirect jobs in the country. Osinbajo said […]

6th Capital Market Information Security Forum To Be Hosted By Nigeria

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The 6th edition of the Nigerian Stock Exchange’s bi-annual Nigerian Capital Market Information Security Forum (NCMISF) is set to hold on Wednesday, July 25, 2018, at the NSE Event Center, 2/4 Customs Street, Lagos. The free to attend conference which was sponsored by FPG Technologies Ltd and Control Risks, is themed, “Social Engineering, The Neglected Human Factor”. […]

Federal Capital Territory proposes over N271bn for 2018 fiscal year

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The Federal Capital Territory Administration, FCTA, has proposed an expenditure framework of N271.532 billion for the 2018 fiscal year before the National Assembly for consideration and approval. The FCT Minister, Muhammad Bello stated this while presenting the territory’s 2018 appropriation bill to the Senate Committee on FCT in Abuja. Bello said the figure showed an increase of N49.171 billion on […]

Air Force debunks claim of preventing chartered flight landing

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The attention of the Nigerian Air Force, NAF has been drawn to allegations that it prevented a chartered flight from landing at its Base in Makurdi for political reasons. The Director Public Relations and Information, Air Vice Marshal Olatojunbo Adesanya said that there was no iota of truth in the allegations. Adesanya said “the runway at […]

Port Harcourt Area 1 Generates Over 21b in 6 Months

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Comptroller Isiyako Kabiru

The Port Harcourt 1 Area Command of the Nigeria Customs Service has defied all odds militating against its effective revenue generation efforts by raking in Twenty One Billion, Seven hundred and Seventy One thousand, Sixty Nine naira and fifty kobo (N21,000,771,069.50) from the months of January to June 2018, in contrast to Seventeen Billion, Seven […]

Nigeria needs growth oriented policies  –  IMF

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IMF-logo

By Andy Nssien The international Monetary Fund (IMF) has urged Nigeria to take urgent steps to evolve a set of policies that would reduce vulnerabilities and increase growth. Such policies include specific and sustainable measures to increase the currently low tax revenue, avoiding new tax exemptions and ensuring budget targets are adhered to even in an election […]

Oil Price Slides after OPEC’s Top Producer, Saudi offers extra oil

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Organisation of Petroleum Exporting Countries (OPEC) largest producer, Saudi Arabia, is offering extra oil on top of its contractual volumes to some buyers in its key market-Asia. WTI traded down 3.25 per cent at $68.70, while Brent tslumped 3.40 per cent at $72.77. The country is  boosting oil production to keep markets well-supplied amid disruptions […]

Afreximbank, ADB to provide grants to support African factoring firms

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The African Export-Import Bank (Afreximbank) has entered into an agreement with the African Development Bank to provide it with a $500,000 grant from its African Private Sector Assistance (FAPA) programme to be used in supporting emerging factoring firms in Africa The Agreement, signed at the Afreximbank Annual Meetings and 25th Anniversary Celebrations  is aimed at upgrading […]