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Why oil theft estimates are unrealistic- Navy
Oil and Gas

Nigeria’s crude oil output drops below expectation – Report

A financial service company, Vetiva, has decried that Nigeria’s crude oil output has fallen below expectation despite efforts by the Organisation of Petroleum Exporting Countries to unwind production caps. The PUNCH reported that Vetiva, in its half-year economic outlook titled “A strange labyrinth”, cited operational and security challenges as the reason for the development. An […]

Flood: Gas scarcity looms as NLNG stops operations
Oil and Gas

NNPC, Sahara to build jetties to boost cooking gas supply

The Nigerian National Petroleum Company Limited and Sahara Group, through their joint venture business, WAGL Energy Limited, are set to develop and construct jetties across West African countries to boost the supply and penetration of Liquefied Petroleum Gas, popularly called cooking gas, in the sub-region. According to The Punch, the Managing Director, WAGL Energy Limited, […]

Companies insure top executives against kidnapping
News

Companies insure top executives against kidnapping

Some companies, especially multinationals in Nigeria, are obtaining insurance for their top executives in case they are taken hostage as kidnappings soar in the country. A report by SBM Intelligence revealed that an average of 13 people were kidnapped in Nigeria every day in the first half of 2021. Business Day reported that as of […]

Naira fall'll worsen Nigeria’s food, energy crisis — W’Bank
Banking

How Nigeria, others can increase mobile money accounts – World Bank

The World Bank has revealed how Nigeria and other Sub-Saharan African countries can increase the number of mobile money accounts. According to its ‘COVID-19 Drives Global Surge in use of Digital Payments,’ introducing its ‘Global Findex 2021 database’ report, the apex bank highlighted the digitalisation of cash payments and expansion of phone ownership. The global […]

China gifts Zimbabwe $160m parliament building
Economy

China gifts Zimbabwe $160m parliament building

China is strengthening its influence in African countries with its economic input in helping black nations develop and grow their economies. China recently completed a new parliament building in Zimbabwe to replace the old structure erected during the colonial era. The $160m structure which sits on 33,000 square metres and comprises a six-storey office complex […]

Airports concession: FG moves to proposals request stage
Aviation

Airports concession: FG moves to proposals request stage

The Federal Government has moved into the proposal request stage as it continues the concession of Nigeria’s four major international airports in Lagos, Abuja, Port Harcourt and Kano. It said the move was in line with the Infrastructure Concession Regulatory Commission (establishment, etc.) Act, 2005, as it informed all stakeholders, local, international and development partners […]

Nigeria, others impacted by under-utilisation of mineral resources - Minister
Economy

Nigeria, others impacted by under-utilisation of mineral resources – Minister

Despite huge deposits, Nigeria and other African countries suffer from the under-utilisation of mineral resources, the Minister of Mines and Steel Development, Olamilekan Adegbite, has said. Adegbite made this known during the first International Conference and Exhibitions of the Nigerian Society of Economic Geologists in Abuja. Represented by the Director-General, Nigerian Mining Cadastre Office, Obadiah […]

Buhari
Economy

World Bank faults Buhari regime’s response to inflation

The World Bank has faulted the response of the regime of the President, Major General Muhammadu Buhari(retd), to the inflation suffered by Nigeria. According to a statement released by the Washington-based bank, the Federal government’s response is inadequate as the country continues to suffer double-digit inflation. The apex bank, in its latest Nigeria Development Update […]

NUPENG threatens strike in Lagos over tanker drivers' safety
News

Prepare for mother of all queues, oil marketers warn

Oil marketers have warned Nigerians to prepare for the “mother of all queues” if the Federal Government fails to meet their demands. The oil dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria also denied the payment of N74bn by the Federal Government. AM Business had reported that the Federal Government through […]

Appointments

Buhari reappoints Patience Oniha as DMO DG

The President, Major General Muhammadu Buhari (retd), has reappointed Patience Oniha as Director-General of the Debt Management Office. Oniha’s reappointment extends her tenure by extra five years, according to a statement on Thursday by Senior Special Assistant to the President on Media and Publicity, Garba Shehu. Shehu said the reappointment of the DMO boss was […]

Danfo Yellow Bus
Transportation

Transport fares rise 47.3% in 12 months – NBS

Nigerians are paying more to move from one city to another as they continue to face a slew of challenges, ranging from insecurity, fuel scarcity to high food prices. The National Bureau of Statistics in its Transport Fare Watch for May 2022, released on Wednesday, said the average fare paid by commuters for bus journey […]

EU to criminalize AI-generated porn images, deepfakes
Conferences

Nigeria-EU seek collaboration for better business environment

The 8th European Union-Nigeria Business Forum happening in Lagos this week will seek the collaboration of business leaders and government officials from Nigeria and Europe to identify new opportunities to unlock the Nigerian economy towards win-win outcomes for the country and Europe. The event is jointly organised by the EU delegation to Nigeria and the […]

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