NNPCL Subsidiary Earns N256 billion in Sales – Report
The Nigerian National Petroleum Company Retail Limited, a retail component of the NNPC Limited group, earned N255.6 billion in revenue…
Year: 2023
NBET and Transcorp Sign 726MW Power Purchase Agreement.
Transcorp Power, the mother company of TransAfam Power Plant Ltd, and Nigerian Bulk Electricity Trading (NBET) inked a power purchase…
Emefiele expresses concern about poor crude production.
Mr Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), has called for a collaborative effort to increase crude…
The CBN disburses N173 billion under the 100-for-100 program.
Since the start of the intervention, the Central Bank of Nigeria has distributed N173.31 billion to recipients under its 100-for-100…
Rate Hike: Expect increased prices, say MAN and NECA, warning the CBN.
According to the Manufacturers Association of Nigeria and the Nigeria Employers’ Consultative Association, the Central Bank of Nigeria’s recent rise…
Kano Gold Souk will draw more international investors – FG.
The Permanent Secretary of the Federal Ministry of Mines and Steel Development, Dr Oluwatoyin Akinlade, has revealed that the Kano…
NGX: Total FGN Savings Bond Allotments Increase to N5.06bn in Five Months.
According to the Nigerian Exchange Limited (NGX), total allotments for FGN Savings Bonds increased to N5.06 billion in the first…
NNPCL, CNOOC, and SAPETRO renew oil production contracts in OML 130.
The Nigerian National Petroleum Company Limited announced the renewal of the Oil Mining Lease 130 Production Sharing Contract and conversion…
The NDDC acknowledges the Senate for adopting the N876 billion budget.
The Niger Delta Development Commission has praised the House of Representatives for clearing the commission’s N876 billion budget for the…
African subsidiaries account for half of UBA’s earnings – CEO.
United Bank for Africa Plc has reported that all of its African businesses are now on solid ground, adding significantly…
Shareholders of Access Holdings Approve N1.30 Final Dividend and Growth Expansion.
The shareholders of Access Holdings Plc approved the management’s final dividend payout of N1.30 at the Pan-African banking institution’s inaugural…
Berger shareholders have approved N202 million in dividends.
Shareholders of Berger Paints of Nigeria Plc, a maker of paints and allied goods, have approved the payment of N202,876,413…
Buhari seeks Senate approval to pay $556 million, £98 million, and N226 billion in judgment debts.
The judgment debts were resolved by the issuance of promissory notes, which will subsequently be evaluated over time for conviction…
OPEC chief warns that global oil output is decreasing.
Haitham Al Ghais, Secretary General of the Organization of Petroleum Exporting Countries, has warned that world oil production capacity is…
BREAKING: CBN increases interest rate to 18.5%.
The Central Bank of Nigeria’s Monetary Policy Committee unanimously voted to raise its monetary policy interest rates to 18.5%. The…
Shipowners estimate that $20 million is spent each year on vessel repairs.
Despite the Nigerian Maritime Administration and Safety Agency’s (NIMASA) acquisition of a N50 billion floating dock, Nigerian shipowners have indicated…
The NDIC will auction the assets of failed banks and reimburse clients.
Following the Central Bank of Nigeria’s cancellation of licenses for 179 microfinance institutions and four Primary Mortgage institutions, the Nigeria…
GDP fell to 2.3% in Q1 due to cash shortage, according to the NBS.
Cash shortages created by the Central Bank of Nigeria’s naira redesign policy have driven Nigeria’s GDP growth below worldwide predictions…
NIN and debit card integration approved by the FG.
Nigerians can now request that their commercial banks issue them a debit card that also serves as their National Identity…
Nigeria: NNPCL to Boost Oil Reserves As Fresh Drilling Begins in Borno.
The Nigerian National Petroleum Company Ltd has resumed an oil drilling program in Wadi-B in Borno State’s Jere Local Government…
AXA Mansard Increases GWP by 13% and Adopts IFRS-17.
AXA Mansard Insurance Plc, a member of the AXA Group and a global insurance and asset management organization, reported a…
In April, bank credit to the private sector surpassed N44 trillion.
The Central Bank of Nigeria (CBN) has revealed that banking industry lending to the private sector surpassed N44 trillion to…
Sirika inaugurates a N2 billion enhanced GAT at Lagos International Airport.
Senator Hadi Sirika, Minister of Aviation and Aerospace, launched the first phase of the N2.2 billion General Aviation Terminal extension…
CBN’s external reserves have fallen by $1.5 billion in four months.
According to information received from the Central Bank of Nigeria, the country’s external reserves declined by $1.5 billion in four…
The CBN cancels the licenses of 179 microfinance banks and others.
The Central Bank of Nigeria has cancelled the licenses of 179 microfinance banks, four primary mortgage banks, and three financing…
Buhari begins oil drilling in the Chad Basin.
The oil drilling campaign in Wadi-B potential, Chad Basin, Tuba Community, Jere Local Government Area, Borno State, was launched by…
According to a report, forex turnover has dropped by 47%.
In April, the foreign exchange turnover of Naira against the US dollar in the Investors & Exporters market fell by…
Aviation stakeholders want the 40% TSA deduction reviewed.
Aviation stakeholders have demanded that the requirement that 40% of aviation agencies’ earnings be paid into the federation account be…
Report: foreign airlines earned $1.1 billion in Nigeria in 2022.
Despite difficulties with foreign exchange, foreign airlines operating in Nigeria made almost $1.1 billion in 2022. The Central Bank of…
Senate’s approval of N22.7tn loan may increase bond rates.
Capital market specialists have warned that the securitization of the Senate’s N22.7 trillion Ways and Means advances to the Federal…