President Muhammadu Buhari has lamented that the inability of the government to address various health challenges has caused increasing medical tourism among Nigerians, resulting in huge loses of over N400 billion annually. President Buhari also yesterday departed Abuja for Amman to honour an invitation by King Abdullah II bin Al-Hussein of Jordan to participate in […]
Author: Isaac Umunna
NNPC debunks rumuor of fuel scarcity; says 55 depots has enough petrol nationwide
The Nigerian National Petroleum Corporation (NNPC) assured Nigerians apprehension about impending fuel scarcity was unfounded, saying there is enough petroleum products stocked in 55 fuel depots across the country. The NNPC spokesperson, Ndu Ughamadu, advised motorists and other petroleum products consumers not to engage in panic buying. Mr Ughamadu said 23 depots in Lagos, seven […]
Nigeria’s Oando sells stake in gas company for $41.5 million to cut debt
Nigerian oil company Oando said on Thursday it had sold its 25 percent stake in local gas and power company Axxela to majority investor Helios Investment partners for $41.5 million as it works on cutting its debt. Oando has in recent years transformed itself from a fuel retailer to an oil producer competing with multinationals […]
President Buhari Travels to Amman, Dubai for Economic Summit
President Muhammadu Buhari has left Nigeria to attend the World Economic Forum on the Middle East and North Africa holding in Amman in Jordan. The president will also seize the opportunity to attend the Annual Investment Meeting scheduled to hold in Dubai. Buhari’s attendance of the WEF was at the invitation of King Abdullah II […]
Nigeria: Shell Paid Nigeria U.S.$6.3 Billion in 2018, Highest in the World
Royal Dutch Shell, Nigeria’s largest foreign investor paid the Nigerian government $6,397,325,844 as oil production entitlement, taxes, royalties and fees arising from the company’s activities involving oil and gas exploration, development and extraction in the year 2018. The Anglo-Dutch company disclosed this in its annual sustainability report published, yesterday, explaining that $3,776,418,858 was paid as […]
Over 70% of rice in Nigerian markets is foreign – Report
Despite concrete and visible interventions of the Central Bank of Nigeria (CBN) via the Anchors Borrowers Programme (ABP) on the rice sub-sector of the Nigerian economy, over 70 per cent of rice in Nigeria markets are foreign or imported. In a three-week survey on the rice market across the six geopolitical zones in the country, […]
44 Nigerians die of Cerebrospinal Meningitis
As the Cerebrospinal Meningitis (CSM) season reaches its peak in Nigeria, no fewer than 44 people have died from the disease, the Nigeria Centre for Disease Control (NCDC) has disclosed. The NCDC declared that the 2018/2019 meningitis season began on October 1. The agency said in preparation for this year’s outbreak, all states in the […]
ExxonMobil considers sale of Nigerian oil, gas fields for $3bn
Nearly two and a half years after exiting Nigeria’s downstream oil sector, ExxonMobil is weighing the sale of some oil and gas fields in the country. The United States-based oil major recently held talks on the sale of a suite of oil and gas fields in Nigeria as the company focuses on new developments in […]
‘Precarious’ global rebound expected in late 2019, says IMF’s Lagarde
Global growth in 2019 should be even slower than previously expected but a “precarious” rebound later this year is likely, the head of the International Monetary Fund said on Tuesday. In a speech ahead of next week’s spring meetings in Washington with the World Bank, IMF chief Christine Lagarde said the world economy was vulnerable […]