Vice President Yemi Osinbajo has said that the country is on course to effectively tackle poverty and unemployment through its micro-economic planning and Social Investment Programmes. Osinbajo said this on Thursday when a delegation of senior officials from the World Bank, led by the World Bank Group Executive Director for Italy, Mr Patrizio Pagano, visited […]
Author: Isaac Umunna
Vitol sees gas and LNG as key growth driver as oil demand peak looms
Vitol’s future growth will increasingly be driven by gas and liquefied natural gas (LNG), especially in emerging markets, as peak oil demand approaches, its head of gas and power investments said on Thursday. Steven Brann said that LNG and gas, coupled with related asset acquisitions, will offer the best growth opportunities for Vitol as the […]
Dangote cement, Seplat top losers’ chart at Nigeria Stock Exchange
Price movement on Thursday at the Nigerian Stock Exchange (NSE) indicates that Seplat, Dangote Cement and Forte Oil topped the losers’ chart, reports the News Agency of Nigeria (NAN). Some highly capitalised stocks also recorded price depreciation on the exchange leading to the decline of market indicators for the fourth day running. Seplat led the […]
Excess charges: CBN compels banks to refund with interest
The Central Bank of Nigeria (CBN), said any bank that deducts monies illegally from a customer’s account for products and services would be forced to refund the money to the customer with interest. Mr Fada David, Consumer Complaints Management, Consumer Protection Department, CBN, said this in an interview with the News Agency of Nigeria (NAN) […]
West Africa Crude-Nigerian diffs fall but offers still prove too pricey
Offers for both Nigerian and Angolan cargoes drifted lower on Wednesday, but traders said there were still plenty of competing grades around, meaning prices would have to fall further in order to encourage buying. * Although spot trade has been fairly slow in the last week, most of the May-loading Nigerian programme had cleared, traders […]
Ebola outbreak: Nigeria imposes airport screenings
The Nigeria Immigration Service (NIS) says it is taking swift action to ensure that Ebola does not enter the country following a fresh outbreak in the Democratic Republic of Congo. NIS spokesperson Sunday James told BBC that immigration officials would tighten vigilance at airports and make more use of thermometers to screen passengers: We are […]
Oil prices respond to U.S. move on Iran with surge
Crude oil prices were moving sharply higher Wednesday after the U.S. decision to leave the Iranian nuclear accord, though assurances were quick to emerge. President Donald Trump on Tuesday signaled the end of the U.S. role in the Joint Comprehensive Plan of Action, saying a U.N.-backed deal that limited Iranian nuclear activity was no longer […]
Customs fleeces Nigerian Woman of earnings totaling $41,377 dollars
Anthonia Nwaorie spent years saving up thousands of dollars to open a medical clinic in Nigeria, where she was born. Finally, last October, she walked down a jet bridge at Houston’s George Bush Intercontinental Airport to board the plane to get there. The 59-year-old registered nurse had more than $37,000 in her carry-on bag and […]
Nigeria’s parliament to pass major oil reforms bill July -Senate president
Nigeria’s parliament aims to pass a long-delayed bill to overhaul the oil sector by the end of July, Senate President Bukola Saraki told Reuters. The Petroleum Industry Bill (PIB), which aims to improve transparency, attract investors and stimulate growth, has been debated for more than a decade and was broken into sections to help it […]
Ikeja Electric: Customers in Ikorodu Lagos to experience Improved Supply
By Foster Obi Ikeja Electric Plc (IE), one of the nation’s electricity distribution company has assured Ikorodu residentsof a boost in electricity supply, with its plans to ensure maximum utilization of the newly commissioned 2 X 60MVA transmission substation in Odoguyan, Lagos. As a result of this new facility, the DisCo will be able to […]