Shell sees the need for investment new LNG projects to meet the fast-growing demand for the fuel in the coming decades, the oil major’s CEO Ben van Beurden said Tuesday, reiterating the risks of an LNG “supply crunch” by the mid-2020s. Shell expects natural gas demand to grow at an average rate of 2% a […]
Nigeria’s central bank governor is to meet representatives of telecommunications company MTN and banks on Tuesday to discuss a dispute over the repatriation of $8.1 billion, two sources with direct knowledge of the matter said. The dispute is over the transfer of $8.1 billion of funds which Nigeria’s central bank said the company had sent […]
Egyptian investment bank EFG Hermes hopes to close a deal to acquire a Nigerian broker next month and is hoping to win IPO mandates in Saudi Arabia as it seeks new growth markets. Saudi Arabia could be a major growth market for EFG Hermes, which is the biggest investment bank in the Middle East but […]
Nigerian President Muhammadu Buhari on Tuesday asked lawmakers to approve the issuance of a $2.79 billion Eurobond, in a letter read in the upper chamber of parliament. He said he wanted the Eurobond to be issued in the international capital market for the “implementation of new external borrowing” that had already been approved in the […]
The News Express 6th Anniversary Lecture and Economic Stakeholders Forum has been scheduled to hold early next month, November 2018, the organisers said on Monday. A statement signed by News Express Publisher, Mr. Isaac Umunna said that the event, which has as theme, Transparency – ‘Bedrock of Sustainable Development’, will hold at the main hall […]
British Airways has announced the appointment of Andrew Brem, who will serve as the carrier’s chief commercial officer, as well as a member of the British Airways management Committee. Previously holding the role of chief digital officer at Aviva, an FTSE-100 insurance business, Brem has held leadership positions in a number of organisations. This include […]
The Economic and Financial Crimes Commission (EFCC), today, told a Federal High Court, Lagos, that it will be calling two additional witnesses in the trial of former managing director of Nigerian Airspace Management Agency (NAMA), Ibrahim Abdusalami and six others. The EFCC through its lawyer, Nnemeka Onmena, gave the hint, after the court presided over […]
The recapitalisation exercise recently announced by the National Insurance Commission (NAICOM) took a toll on insurance stocks in September with majority of them recording price depreciation. Data obtained by the News Agency of Nigeria (NAN) from the Nigerian Stock Exchange (NSE) in Lagos showed that insurance equities dominated the losers’ table with Universal Insurance emerging […]
Oil prices fell on Monday but pared losses along with the U.S. stock market as investors bet that China’s economic stimulus steps on Sunday would be sufficient to boost the world’s No. 2 economy and bolster its crude demand. Global benchmark Brent crude slid below $83 per barrel early in the session, partly on concerns […]
The Consul-General of Denmark in Lagos, Mr Per Christensen, on Monday said that Nigeria could produce food for some 600 million people through the application of the right technology. Christensen said at a One-day Danish Food Tech Exhibition and Seminar in Lagos that Nigeria has a rich arable land and population for bumper food production. […]