French oil major Total SA has started production at its Egina deep oil field in Nigeria, where production is expected to plateau at 200,000 barrels of oil a day, the company said on Wednesday. That rate of output represents about 10 percent of Nigeria’s current oil production. The project is expected to significantly boost Total’s […]
The U.S Embassy in Abuja and the Consulate General Office in Lagos will remain open in spite of the U.S. Government shutdown. A statement from the Information Office, Public Affairs Section, Abuja, for the USCGLagosInformationSection, said on Wednesday that normal services at the Consular Sections were ongoing. The statement explained that speculations of alleged closure […]
Mr. Peter Obi, the Vice Presidential candidate of PDP has joined the debate on national minimum wage and submitted the need for states to determine what they pay their workers based on their realities. “Minimum wage doesn’t have to be universal,” he said on Politics Today, a programme of ChannelsTV. “I don’t believe that somebody […]
National Public Relations Officer of Nigeria Customs Services, NCS, Joseph Attah has debunked news trending in the social media that one of the recently seized 40 containers by Customs along Apapa road contains United States dollars. 440 pump action riffles intercepted by Customs Attah, who made this known to the media during a press briefing […]
Capital market stakeholders have identified mergers and acquisition as the best option to tackle liquidity challenges among stockbroking firms, and also restore confidence in stock market. This follows the recent expulsion of 35 stockbroking firms by the Nigerian Stock Exchange (NSE), over corporate governance issues, The stakeholders, who spoke in a chat with The Guardian, […]
Crude oil futures dipped in mid-morning trade in Asia Wednesday as a bearish supply outlook kept a lid on prices. At 10:56 am Singapore time (0256 GMT), ICE March Brent crude futures were down 27 cents/b (0.50%) from Monday’s settle at $53.53/b, while the NYMEX February light sweet crude contract was 7 cents/b (0.15%) lower […]
The Group Managing Director of the Nigerian National Petroleum Corporation(NNPC), Dr Maikanti Baru, said that the country’s refineries had not undergone Turn Around Maintenance(TAM) for an aggregate of 42 years. Baru disclosed this in his New Year message issued by the Corporation spokesman, Mr Ndu Ughamadu, in Abuja, on Monday. He said that in spite […]
The Nigeria Labour Congress (NLC) has pledged commitment to workers welfare while appealing to the Federal Government to urgently transmit the bill on the new national minimum wage to the National Assembly. Ayuba Wabba, NLC president, made the appeal in a New Year message on Tuesday in Abuja. According to him, 2018 remains one of […]
Nigeria’s crude oil daily production recorded an upward swing of about 2.09million barrels in 2018, translating to a 9 per cent increment, compared with the 2017 average daily production of 1.86million barrels. Pitched against the low-level daily crude oil production in 2016 and what obtains now, Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Dr. […]
Lending is a principal responsibility carried out by banks to their customers. The challenge with loan advancement in Nigeria is that only few people come forward to borrow given the slow growth in Nigeria Gross Domestic Product (GDP). Speaking on the state of banks, Head, Research Coronation Merchant Bank Limited, Guy Czatoryski, said the challenge […]