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President Tinubu to reduce inflation to 15% by 2025
News

Tinubu appoints board members of Family Homes Funds

President Bola Tinubu has authorized the appointment of board members of Family Homes Funds This was disclosed in a statement signed by the Special Adviser to the President on Media & Publicity, in Abuja on Tuesday. According to the statement, this is aimed at stimulating the growth potential within the real estate sector. President Tinubu […]

featured

NNPCL declares state of emergency on oil, gas infrastructure

Nigerian National Petroleum Corporation Limited has declared a state of emergency in the oil and gas industry to increase Nigeria’s crude oil production and reserves. The Group Chief Executive Officer of NNPC Ltd, Mr. Mele Kyari, disclosed this in a keynote address at the opening ceremony of the 23rd edition of the Nigeria Oil & […]

News Oil and Gas

Stakeholders demand implementation of laws to protect local firms

Stakeholders in Nigeria’s oil and gas industry have urged the government to guarantee that local content requirements are effectively implemented in order to protect indigenous oil and gas enterprises. Speaking during a panel session at the 2024 NOG Energy Week in Abuja on Monday, the Chairman, Nestoil Limited, Ernest Azudialu – Obiejesi stated that, while […]

Tech

Again, Tapswap delays token allocation

The popular tap-2-earn app, Tapswap, powered by TON Blockchain, has announced the postponement of its token allocation to users, moving the event to the third quarter of the year. This decision comes after the app, which allows users to mine coins by repeatedly tapping an icon on the Telegram Tapswap bot screen, gained significant traction […]

News Oil and Gas

Shell, Ardova partner to boost energy sector productivity

Shell International has collaborated with Ardova Plc to create the inaugural Power Conference, which aims to encourage debate around productivity and competitiveness in the energy sector. Powering Nigeria’s Industries – Enhancing Productivity and Competitiveness,” was recently held in Lagos, according to The Punch. According to a statement from the corporation, the conference focused on the […]

News

Price pressure, weak demand drives PMI to seven-month low

The Stanbic IBTC Purchasing Managers Index fell to a seven-month low amid weak demand and price pressures. The monthly PMI, issued on Monday, showed that the headline figure generated from the survey fell to 50.1 points in June from 52.1 in May, the lowest level in seven months, according to The Punch. Commenting on the […]

Dangote Refinery loses N32.5bn after petrol price cut
News

Dangote refinery increases gasoil exports to West Africa

Dangote oil refinery is rapidly increasing its gasoil exports to West Africa, capturing market share from European refiners, according to traders and shipping data. Reuters reported that the $20 billion refinery is currently producing a lower grade of gasoil than expected as it awaits the restart of units necessary for producing cleaner fuels. As a […]

Dangote Refinery loses N32.5bn after petrol price cut
News

Dangote refinery: Marketers fear higher petrol price

Petroleum marketers are concerned that the petrol price from the Dangote refinery may be higher than anticipated, as it’s expected to hit the market two weeks from now. This follows the difficulty in sourcing crude locally from the international oil companies by Dangote Refinery. It continues to buy crude oil from the United States and […]

News

Oil companies patronize illegal refineries, Tantita security claims

Tantita Security Services Nigeria Limited purportedly revealed on Monday that oil corporations buy refined automotive gas oil, also known as diesel, from clandestine refineries in numerous host communities around the Niger Delta region. This was disclosed by Tantita in Abuja during the ongoing Nigeria Oil and Gas Energy Week Conference, which is attended by both […]

Fraud losses decline in Nigerian banks in Q1 2024 - Report
Banking News

Bank directors buy N39bn shares amid sector recapitalisation

As the banking sector’s recapitalisation accelerates, some bank executives are beginning to bet on their companies by raising their stakes, according to The PUNCH. The analysis of the directors’ transactions with the Nigerian Exchange Limited from the end of May to June, shows bank directors purchased around 1.86 billion shares worth approximately N39.32 billion. The […]

News Tech

Meta rolls out monetization for Nigerian, Ghanaian creators

Social media giant, Meta has announced that content creators from Nigeria and Ghana can now start earning money on Facebook from Monday, July 1, 2024. The company has introduced two new monetization features to facilitate this: In-Stream Ads on Facebook and Facebook Ads on Reels. According to Meta’s statement, these features will allow creators to […]

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