Apple Inc introduced its largest-ever iPhone and a watch that detects heart problems on Wednesday in an attempt to get customers to upgrade to more expensive devices in the face of stagnant global demand for smartphones. The relatively small changes to its lineup, following last year’s overhauled iPhone X, were widely expected by investors, who […]
A $10.1 billion demand by Nigerian authorities from South African telecoms group MTN makes its planned debut stock market listing in the country “pretty challenging and awkward”, the group’s chief financial officer said on Wednesday. Nigeria’s central bank has asked MTN to repatriate $8.1 billion in monies sent abroad, claiming the funds was sent without […]
…As African Leaders Gather In Egypt for 4th AAMA Conference By Foster Obi The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has stressed that regional collaboration is key to developing Africa’s maritime sector, stating the Agency’s commitment to continue to reposition the Nigerian maritime sector in order to […]
By Foster Obi National Association of Government Approved Freight Forwarders (NAGAFF) is alarmed at the various complaints with regard to multiple trade alerts of the various Government agencies assigned to the Nigerian ports over a single transaction. A statement signed by Rev. Emma Agubanze, Head of Special Duty NAGAFF Headquarters said the office was mandated […]
Nigerian crude differentials eased slightly on Wednesday and traders said the market appeared to be running out of steam after its recent run higher that was backed by a flurry of purchases from BP. NIGERIA: * BP bid for cargoes of Qua Iboe, Bonga and Forcados for loading in late October, but at lower levels […]
Nigeria has remained in the eye of the storm since the award of Oil Prospecting Licence (OPL) 245 to Malabu Oil & Gas Limited, exposed the level of corruption that takes place in the award of oil blocks. A report conducted by the Natural Resource Governance Institute (NRGI) in 2017, has noted that the weakest […]
Despite fears of disruptions to global oil supplies and curbs on production, major oil producing group OPEC sees global oil supplies as fine – its demand that should be worrying people. The 15-member OPEC said Wednesday in its latest monthly report that preliminary data suggested that the global oil supply increased 490,000 barrels a day […]
OPEC’s analysis arm on Wednesday painted an extremely tight supply picture for the rest of the year, saying demand for the organization’s own crude oil will be almost 1 million b/d more than the level produced in August. This shows that producer group will have to bring more barrels into the market to avoid a […]
The United States (U.S.) Ambassador to Nigeria, Mr Stuart Symington has attributed poor social infrastructure development in Nigeria to the weak system of tax collection in the Country. Symington made this known on Tuesday, while speaking at the 10th anniversary colloquium of the Nigerian Development Finance Forum, organised by Financial Nigeria Magazine in Abuja. He […]
Crude oil futures were firm at midday in Europe Tuesday, with the spread between front-month ICE Brent and NYMEX WTI at a three-month high. At 1100 GMT, November ICE Brent was up 61 cents/b at $77.98/b, while the October NYMEX WTI was up 26 cents/b at $67.80/b. The last time the Brent-WTI spread was higher […]