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A former Group Managing Director of the Nigerian National Petroleum Corporation, Andrew Yakubu
Uncategorized

Ex-NNPC GMD sues EFCC, others over withheld $9.8m

A former Group Managing Director of the Nigerian National Petroleum Corporation, Andrew Yakubu, has sued the Economic and Financial Crimes Commission, the Central Bank of Nigeria, and Guarantee Trust Bank for allegedly refusing to release his $9.8 million, despite a court ruling in his favour. The News Agency of Nigeria reported that Yakubu was represented […]

EXXONMOBIL-REFINERY
Business

ExxonMobil’s profit doubles in Q1 over high demand

ExxonMobil’s profits in the first quarter of 2023 doubled due to the increased demand for oil and gas and cost-cutting measures, resulting in a record $11.4bn profit despite falling oil prices and paying $200m in windfall taxes in Europe. BBC reported that the energy giant’s profits included a $3.4bn after-tax reduction to exit Russia. The […]

Obasanjo, Soludo arrive Kinshasa for DRC-Nigeria business summit
Business

Obasanjo, Soludo arrive Kinshasa for DRC-Nigeria business summit

    Former President Olusegun Obasanjo, and Anambra State Governor, Prof. Chukwuma Soludo, have arrived at Kinshasa, Democratic Republic of Congo for the meeting of the DRC/Nigeria Business Council scheduled to start on Saturday. According to Channels, Obasanjo left Abeokuta, Ogun State capital, for a two-hour chartered flight to Kinshasa with the Executive Secretary, National […]

Osinbajo-led council tackles skill gaps among graduates
Energy

Osinbajo charges NNPC on balanced energy transitioning

The Vice President, Yemi Osinbajo, has charged the Nigerian National Petroleum Company Limited to work on the development of green hydrogen as another energy source.   Leadership reported that Osinbajo said this during his address at the launch of a book titled: “Understanding Natural Gas: A Nigerian Perspective,” in Abuja, on Thursday, co-authored by Dr. […]

NACCIMA, EU partner on business innovation
Oil and Gas

FG needs to fix Nigeria’s refineries – NACCIMA

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, has called on the Federal Government to urgently fix the four refineries which have been in comatose for the past 16 years. The President of the association, John Udeagbala, said this should be done so as to end petroleum products importation into the country. […]

Seplat Energy's logo
Business

Seplat Energy’s Q1 revenue hits 37%

Seplat Energy Plc’s first-quarter revenue increased by 36.9 per cent to N152 billion from N100.6 billion, while its gross profit for the period rose by 69 per cent to N91.1 billion from N48.8 billion in 2022. In its released financial report for the first quarter of 2023, Seplat Energy also reported a profit before tax […]

Governor AbdulRahman AbdulRazaq
Business

Kwara rice farmers commends Gov AbdulRazaq’s irrigation empowerment

The farmers who are beneficiaries of the Kwara State Government Agricultural Inputs and Irrigation Equipment Empowerment Scheme have commended Governor AbdulRahman AbdulRazaq for improving the skills of local farmers and enhancing food production in the state. This commendation was made during an impromptu inspection visit to the Salala Cluster Irrigation farm site in Afon, Asa […]

Chairman of the Taskforce on Expatriate Quota Administration in Nigeria under the Ministry of Interior, Hon. Bola Ilori
Business

FG expresses concern over expatriate quota policy abuse 

The Federal Government has expressed concerns over the ongoing abuse of the expatriate quota policy by both local and foreign companies. According to The Punch, the Federal Government stated that stricter penalties will be imposed on those who violate the policy. The expatriate quota policy is a permit granted to companies by the government that […]

Nigeria is Norway's top importer of stockfish - Report
Foods

Stockfish importers complain about currency ban on products

The Premier Stockfish Importers Association of Nigeria asserts that given the ongoing prohibition on stockfish from accessing foreign exchange, the future of the stockfish industry is likely to remain bleak. According to the News Agency of Nigeria, this was said in an interview on Thursday in Lagos by the association’s chairman, Mr. Gregory Ilobinso. Stockfish, […]

Fuel scarcity eases gradually after five months
Business

FG to pause fuel subsidy removal

The National Economic Council announced in Abuja on Thursday that it has reached an agreement not to remove the petrol subsidy planned in June 2023. According to The Punch, this was disclosed by the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, to journalists at the State House shortly after the final Council […]

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