Petroleum regulatory body shuts 75 fuel stations in Osun
The Nigerian Midstream and Downstream Petroleum Regulatory Authority's Osun State office announced on Wednesday that it has closed up to 75 petrol stations in the state in the previous…
Elumelu’s firm acquires 70m units of UBA shares
A private equity firm, HH Capital, founded by a Nigerian billionaire and the chairman of the Board of Directors of United Bank for Africa, Tony Elumelu has acquired 70 million…
Bayelsa court permits NCDMB to collect 1% NCDF levy
The Federal High Court in Yenagoa, Bayelsa State, delivered an important ruling on Tuesday confirming the authority of the Nigerian Content Development and Monitoring Board to collect the one percent…
Shell wins 2011 oil spillage case
The UK Supreme Court has decided that it is too late for Nigerian citizens to sue two Shell subsidiaries over a 2011 oil spill that caused significant damage to the…
KPMG faults FG’s tax rate increase
The financial advisory giant, KPMG has faulted the Federal government’s increase in excise duty, stating “Tax increases are better introduced at a time of economic boom”. KPMG however shared different…
NUPRC confirms take over of oil export terminals
The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission has announced that they have taken over the regulation and monitoring of activities of the nation's crude oil export…
Immigration blames CBN for shortage of Nigerian passports
By Christian George The Nigerian Immigration Service has pointed out that one of the greatest factors that culminate in the shortage of Nigerian passports is not unconnected with…
Why Abuja airport doesn’t need another runway – Analysts
Analysts in the aviation industry have criticized the need for the construction of a second runway at Abuja airport. The Punch reported that the recent request by the National Assembly…
Metaverse to contribute $760bn to US GDP by 2035 – Report
A study commissioned by the owner of Facebook, Meta Platforms, has revealed that Metaverse could contribute up to $760 billion, or about 2.4 per cent of the annual US gross…
Amazon to open more warehouses in Europe
Amazon is planning to increase its presence in Europe by opening new warehouses and hiring more employees, despite the global economic downturn leading to cost-cutting measures and layoffs. According to…
UAE cancels Airbus H225M helicopters deal
The United Arab Emirates has reportedly cancelled a 2021 deal with Airbus to acquire twelve H225M Caracal multirole helicopters for around 800 million euros ($880.6 million). This was revealed following…
CBN to sanction shipping companies over undocumented cargoes
By Wilson Adekumola The Central Bank of Nigeria has vowed to sanction shipping companies exporting undocumented cargoes from the country. According to Vanguard, the CBN Governor, Godwin Emefiele…
