Nigeria’s $5bn gas earnings too low, says Shettima The Vice President, Senator Kashim Shettima, on Thursday, said Nigeria earns about $5bn from gas, but described it as too low, particularly when compared to what Egypt earns from the same commodity despite having a far lower gas reserves. Shettima, who[Read More…]
FG issues 94 import licences to oil marketers The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, said it has issued a total of 94 importation licences to oil marketers. Chief Executive, NMDPRA, Farouk Ahmed, disclosed this at the opening session of the ongoing 17th Oil Trading[Read More…]
FG rallies capital market to bridge Nigeria’s $3tr infrastructure gap • As indices dip by N7b amid losses in 19 stocks The Vice President, Kashim Shettima has called for active involvement of capital market stakeholder in bridging Nigeria’s $3 trillion infrastructure deficit. Besides, Shettima also urged various exchanges to develop[Read More…]
Fidelity Bank boosts Nigeria’s Non-oil Exports with FITCC Houston …Signs $40million deal with AFREXIM Bank and JohnVents Industries for cocoa export The much-anticipated second edition of the Fidelity International Trade and Creative Connect (FITCC) got off to a boisterous start on Tuesday, 24 October 2023 as leading financial[Read More…]
NESG moves to strengthen institutional framework for economic growth The Nigeria Economic Summit Group (NESG) has established a centre for legislative reforms and economic development in its bid to build synergy between the public and the private sector. Speaking at the launch of the initiative at the ongoing NESG[Read More…]
NCDMB, SON lead FG’s EO1 compliance report The Presidential Enabling Business Environment Council (PEBEC) has released its 2023 Biannual Executive Order 001 (EO1) Compliance Report, showing Nigerian Content Development and Monitoring Board (NCDMB), Standards Organisation of Nigeria (SON), and the Nigeria Agricultural Quarantine Service (NAQS) emerged as the top[Read More…]
Petroleum institute completes modular refinery, to commercialise output The Petroleum Training Institute, an agency of the Federal Ministry of Petroleum Resources, has announced the completion of its modular refinery with a target to scale up its capacity for commercial purposes. PTI, located in Effurun, Delta State, also stated that[Read More…]
Daily petrol consumption drops to 44.3 litres -NMDPRA Domestic consumption of Premium Motor Spirit (PMS) or petrol in the country has recorded a significant drop after the deregulation occasioned by fuel subsidy removal. According to the Chief Executive Officer, Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed,[Read More…]
NNPCL confirms Warri refinery fire incident The Nigerian National Petroleum Company Limited, on Friday, confirmed a fire incident at the Warri Refinery and Petrochemical Company Limited. It, however, stated that the fire was contained, adding that the incident would not affect the ongoing rehabilitation of the refinery. The national oil[Read More…]
MABISCO shuts down operation The owners of major indigenous biscuits company in Nigeria, Mayor Biscuits Company Limited, says they will sell the multi-million-dollar biscuits plant to reinvest the proceeds into a new line of business. In a statement signed by the Finance Director of the company, Segun Matthew, prior to[Read More…]
