OPEC oil supply fell to a four-year low in February, a Reuters survey found, as top exporter Saudi Arabia and its Gulf allies over-delivered on the group’s supply pact while Venezuelan output registered a further involuntary decline. The drop of 300,000 barrels per day (bpd) comes despite criticism from U.S. President Donald Trump, who on […]
Nigeria earned a total of N5.54tn from oil revenue last year, figures obtained from the Central Bank of Nigeria revealed.The N5.54tn revenue was earned through three major oil revenue sources. They are crude oil/gas sales, petroleum profit tax/royalties and others. A breakdown of the N5.54tn oil revenue showed that the sum of N1.28tn was earned […]
MTN Group says it is expecting an increased profit by as much as 90 per cent in 2018, as the company continues to recover from a regulatory fine in Nigeria. Analysts had predicted that the $8.1bn repatriation demand dispute with the Central Bank of Nigeria would affect the fourth quarter earnings of the Nigerian unit. […]
Investors in the nation’s stock market lost a total of N365bn in the last three days of trading in February. The equities market opened the month with a market value of N11.424tn, which rose to N12.200tn on February 15. The market capitalisation, however, declined in the second half of the month by N371bn, 98.8 per […]
Joint Admissions and Matriculation Board, JAMB, has registered over 1.8 million candidates for this year’s Unified Tertiary Matriculation Examination, UTME. We are prepared for 2019 UTME – JAMB Head, Media and Information of the board, Fabian Benjamin, disclosed this in an interview with News Agency of Nigeria in Lagos, yesterday. Registration of candidates for all […]
The son of former Military Head of State, Mohammed Abacha, has dragged the Federal Government, Shell Petroleum Nigeria and others to the Appeal Court as the battle over Malabu Oil rages. In a notice of appeal filed at the Court of Appeal, Abacha is seeking an order of the appellate court to compel the Federal […]
The naira could inch up next week as uncertainty eases for foreign investors, following the conclusion of the presidential and National Assembly elections, traders had said. Nigerian and Kenyan currencies are seen firming against the United States dollar in the coming week, while Zambia’s kwacha is likely to recoup losses and the Ugandan shilling is […]
The Nigerian banking stocks slumped the most since June 2016 a day after the re-election of President Muhammadu Buhari, as some investors showed disappointment at the defeat of his market-friendly opponent. An index of Nigeria’s 10 largest banking stocks dropped by 4.6 per cent at the end of trading on the floor of the Nigerian […]
Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3 billion acquisition of Nigerian offshore oilfield OPL 245 in 2011. Shell said in a statement on its website that it had been informed by the Dutch Public Prosecutor’s Office (DPP) that it had nearly concluded its investigation and is preparing to prosecute […]