According To NNPC, Nigerians Will Not Face Fuel shortages.
According to the chief financial officer of NNPC Ltd. In Abuja, the Corporation has taken steps to maintain the supply of PMS across the nation; including extending the Direct Sales…
CBN: RT200 Strategy Will Increase Exports Of Goods.
The CBN’s RT200 FX program intends to generate $200 billion in forex profits from non-oil proceeds over the course of the following three to five years. The Non-Oil Export Proceeds…
In 2022, Kenya Pension Bill Was Reduced By Sh18billion.
In the first two months of the current fiscal year, Kenya’s pension bill decreased by Sh17. 94 billion compared to the same period last year, relieving strain on the Treasury;…
Nigeria’s Oil Output Plummets To 900,000b/d.
According to statistics provided by direct sources, Nigeria’s crude oil production decreased from 1 million barrels per day in July to 900,000 barrels per day in August, according to the…
A Rate Hike Possibility Causes Cryptos To Squeak As Bitcoin Drops Below $19,000.
By market value, Bitcoin, the most valuable cryptocurrency, dropped almost 5% to a three-month low of $18,387. The second-largest cryptocurrency, Ether, fell 3% to a low of $1,285; and has…
Tesla Claims That Its China Sales Growth Is Progressing At A Standard Rate.
After a Reuters story said that Tesla (TSLA. O) was considering closing several city center stores in its second-largest market; Tesla responded by stating that it is currently growing its…
MTN Launches 5G Network.
The fifth-generation, or 5G, technology is already accessible in Nigeria. The technology was commercially introduced in Nigeria by MTN Nigeria Communications Plc. With this commercial debut, 5G services are now…
U.S Forces Would Defend Taiwan In The Event Of A Chinese Invasion – Biden.
The use of force has not been ruled out by Chinese President Xi Jinping in his pledge to conquer Taiwan. Taiwan vehemently rejects China’s claims to sovereignty. However, U.S. President…
World Bank Contributes $30bln To Offset Food Shortages Worsened By War In Ukraine.
According to a senior bank official, the World Bank is prepared to contribute up to $30 billion; this is to help address the worldwide food shortages that have been made…
Adobe To Buy Figma For $20bln.
To help it expand its toolkit for creative professionals, Adobe Inc. agreed to purchase software design company Figma Inc. In a deal valued at approximately $20 billion. As the New…
With The ‘Merge’ Software Upgrade, The Ethereum Blockchain Uses Less Energy.
According to its co-founder, the Ethereum blockchain has undergone a significant software upgrade; that significantly lowers its energy consumption. The update, modifies how ether tokens are created and transactions are…
Saudi Arabia Surpasses Russia To Become India’s No. 2 Oil Supplier.
The third-largest oil importer and consumer in the world, India, imported 863,950 barrels of petroleum per day (bpd) from Saudi Arabia, up 4.8% from the previous month, while purchases from…
Ghana’s Inflation Reached A 21-year High Of 33.9% In August.
In order to help the country get through the harsh economic situation it is currently experiencing as a result of the negative impacts of the deadly coronavirus illness (COVID-19) epidemic…
FG, EU, AFD Sign €25m To Strengthen Electricity Grid In Northwest.
A grant agreement for €25 million has signed by the Nigerian government and the French Development Agency (AFD) for the Northern Corridor Project; which is jointly by the European Union…
MTN Nigeria Plans To Issue A N100billion Bond To Pay For Operating Capital.
Under its new N200 billion bond issuance program, MTN Nigeria Plc intends to issue up to N100 billion in series 1 bonds. The telecom company announced in a statement acquired…
Shell Chooses The CEO of Renewables to Promote The Ecofriendly Revolution.
In order to accelerate its transition to a more environmentally friendly future, Shell (SHEL. L) has chosen Wael Sawan to succeed Ben van Beurden as CEO. Sawan oversees the company’s…
Kenyas President Is In Favor of Raising NHIF Contributions From The Wealthy.
Shortly after a comparable plan was rejected by Parliament, President William Ruto has supported the appeal for the wealthy to make larger monthly contributions to the National Hospital Insurance Fund…
The National Assembly Will Receive Buhari’s N19.76trillion Appropriations Bill In October.
During the inspection of the continuing rehabilitation work on the green chamber and the construction of the National Assembly Service Commission office; Gbajabiamila disclosed the presentation of the 2023 budget…
Nigeria Bank Deposits Increased by 24% To N42trillion.
From N33.85 trillion at the end of June 2021 to N42. 03 trillion in the same time of 2022, the total deposits in the banks increased by 24.17%. Aishah Ahmad,…
Senate Opens An Investigation Into Niger Delta Oil Theft.
Nigeria suffered significant financial losses as a result of the widespread theft of its crude oil; and it was unable to fulfill the Organization of Petroleum Exporting Countries’ quota. Hence,…
United States and Nigeria Agree To Deploy Gas In Support Of Renewable Energy Sources.
The United States said that it would contribute $200 million to Nigeria; and other nations to speed up their transition to clean energy sources. During a separate courtesy visit to…
Nigeria Collaborates With India To Produce The Covid-19 Vaccine Locally.
In order to achieve vaccine equity in Nigeria, the Federal Government and the Serum Institute of India have announced a cooperation for local vaccine production. Dr. Faisal Shuaib, ED/CEO of…
Values of Bitcoin and Other Cryptocurrencies Sharply Declined.
Due to the loss of about $89 billion in cryptocurrency, the market value of cryptocurrencies has fallen back below $1 trillion. In the crypto derivatives market today, over 97k traders…
Despite the currency and energy challenges, companies pay N1.25 trillion in taxes.
The Federal Government received N1.25 trillion in tax revenue from Nigerian businesses in the first half of 2022, despite their severe energy and exchange rates problems. According to data issued…
Aviation Workers Issue 14-day Ultimatum.
A coalition of unions representing aviation employees has vowed to go forward with an industrial strike; within the next 14 days if the President, Major General Muhammadu Buhari (ret.), does…
Oil Exploration In Nigeria Begins To Decline As Rig Count Falls.
The global upstream sector of the petroleum industry (OPEC) uses the rig count; as a key indicator of exploration and other activities. Although, the organization’s September 2022 Monthly Oil Market…
7,000km Gas Pipeline Contract To Be Signed By NNPCL With Morocco And West African Nations.
The Nigeria-Morocco Gas Pipeline (NMGP) project created during King Mohammed VI of Morocco’s visit to Nigeria in December 2016. It is an initiative of the federal governments of Nigeria and…
Senate, Minister Diverge On The N12.43trillion Budget Deficit For 2023.
The committee was informed by the finance minister during an interactive session that the planned N19. 76 trillion budget for 2023 will have a deficit of N12.43 trillion. This is…
Pension Withdrawals Increase By 17% To N6.6billion.
Due to difficulties caused by job loss, cash withdrawals from pension contributions by laid-offoff employees increased by 17. 5% to N6.65 billion in the second quarter of 2022, or Q2’22,…
More Nigerians Move Abroad, And Passport Issuance Climbs By 38%.
Nigerians leaving the nation have reportedly resigned from their positions in numerous local banks; in order to use the UK’s skilled work visas or its equivalent in other countries of…