President Muhammadu Buhari on Wednesday in Abuja pledged the cooperation of Nigeria to the effort of oil-producing nations to reduce output to attract higher prices in the global market. A statement by Garba Shehu, Media and Publicity Aide to the President, said Mr Buhari made this position known when he received Ahmad Qattan, Minister of […]
Google today announced its intention to acquire Alooma, a company that allows enterprises to combine all of their data sources into services like Google’s BigQuery, Amazon’s Redshift, Snowflake and Azure. The promise of Alooma is that it handles the data pipelines and manages them for its users. In addition to this data integration service, though, […]
The Shell Petroleum Development Company of Nigeria Limited (SPDC) and its joint venture partners signed a Final Investment Decision agreement for a 300 million cubic feet of gas on Wednesday in Abuja at a ceremony witnessed by the Managing Director of Total Exploration and Production Nigeria Limited, Mr. Nicholas Terraz and the Managing Director of […]
A research report by the FSDH Merchant Bank has said the disparity between the growth rates of the Nigerian economy and its population shows that poverty is on the increase in the country. According to the report titled ‘Final Judgment on Performance of the Nigerian Economy: Implications’, The Nigerian economy is growing slower than the […]
The Central Bank of Nigeria (CBN) has disclosed that the Capital Adequacy Ratio (CAR) of commercial banks has improved from the 10.79 per cent as at August 2018, to 15.26 per cent as of December 2018. CBN’s Deputy Governor, Financial System Stability Directorate, Mrs. Aishah Ahmad, disclosed this in her personal comment in last month’s […]
The National Bureau of Statistics (NBS) said Automated Teller Machine (ATM) from selected banks across the country recorded transactions valued at N39.15 trillion in the fourth quarter of 2018. The bureau stated this in its “Selected Banking Sector Data for Fourth Quarter, 2018”, posted on its website on Wednesday. It said that the amount was […]
The decision, last Thursday by the Bankers’ Committee arm of the Central Bank of Nigeria (CBN), to provide funding for the development of the creative sector of the economy at single-digit interest rate, may have come as another policy shift by the apex bank. This represents another major intervention, following a slew of others in […]
Bauchi Independent Petroleum Marketers Association of Nigeria, IPMAN, Bauchi branch has said it will not reduce pump price for Premium Motor Spirit (PMS), from 145 naira to 140 naira per litre until it receives directive from the national body. The State Chairman of the Association, Alhaji Rabiu Ahmed Baba made this known on Tuesday while […]
The National Bureau of Statistics says the Federation Account Allocation Committee disbursed the sum of N270.17bn to the Federal Government in January 2019. The bureau said this in FAAC January 2019 disbursement statistics posted on its website. According to the information on the website, the states received a total of N178.04bn while local governments received […]
The Arab Bank for Economic Development in Africa (BADEA), has extended $65 million (about N23.4 billion) credit facility to Nigeria’s Sterling Bank Plc. The sum was granted through two loan agreements signed on Monday in Cairo, Egypt. The Director-General, Dr. Sidi Ould TAH, signed on behalf of BADEA while Mr. Yemi Odubiyi, Executive Director, Corporate […]