Nigeria’s aspiration of unlocking over 10billion barrels of deep water oil reserves was accentuated with the signing of the crucial Heads of Terms Agreement among the Nigerian National Petroleum Corporation (NNPC) and its production sharing contracting partners for the development of the Bonga Main and Bonga South West fields in OML 118. A press statement […]
The Gas Consumers Group of Manufacturers Association of Nigeria has stated that distributors of liquefied natural gas have been ripping them off as they are being made to pay for gas consumption in US dollar equivalence. Speaking to the Nation, the CEO and the Managing Director of NISPO, Afam Mallinson Ukatu, regretted that his sort […]
Nigeria’s state-owned refinery in Kaduna, a rusted hulk set on about 1.1 square miles on the parched outskirts of the northern city, has the capacity to process 110,000 barrels of oil a day. Last year it processed virtually nothing. The three other state-owned refineries — in the oil-rich Niger delta region in the south of […]
Mahmood Yakubu, national chairman of the Independent National Electoral Commission (INEC), has confirmed that one of the candidates of the All Progressives Congress (APC) is a contractor to the commission. Addressing stakeholders on the reason behind the postponement of the presidential and parliamentary elections in Abuja on Saturday, the INEC chairman said the contractor’s political […]
The Joint Admissions and Matriculation Board (JAMB) says not less than 1.8 million candidates would be registered for its 2019 UTME by the end of the registration exercise scheduled for February 21. The agency also says over 1.6 million candidates have registered for the examination. The board’s Head, Media and Information, Fabian Benjamin, disclosed the […]
The Central Bank of Nigeria (CBN) Thursday said it expected further stability in the foreign exchange market in 2019, banking on the decision of the US Federal Reserve not to hike interest rate in the near future. The apex bank added that the stability currently being enjoyed in the FX market had boosted the country’s […]
Zlatan Ibrahimovic has again claimed Cristiano Ronaldo was wrong to describe his move to Serie A champions Juventus as a challenge. Cristiano Ronaldo joining Juventus cannot constitute a challenge, according to former Bianconeri striker Zlatan Ibrahimovic. Ronaldo has hit 18 goals in 23 Serie A appearances for the Turin giants since signing from Real Madrid, […]
Anglo-Dutch oil giant Royal Dutch Shell agreed Friday to buy German rechargeable battery maker Sonnen, as the sector eyes growing demand for cleaner energy. Shell, which already invested in the German start-up in May 2018, revealed in a statement that it will buy 100 percent of Sonnen for an undisclosed amount. Sonnen, which makes lithium-ion […]
Oil futures gained Friday, lifting prices up by more than 5% for the week on signs of tighter global supplies and progress in trade talks between the U.S. and China. The market was optimistic in regard to progress in this week’s trade talks between the U.S. and China, which can influence demand for energy from […]
The Federal Inland Revenue Service (FIRS) has written to banks, directing them to lift the lien on alleged tax defaulters’ bank accounts for 30 days. The directive, which takes immediate effect, was contained in a letter from Tunde Fowler, the FIRS chairman, to bank managing directors. The FIRS explained that it issued the directive because […]