The Independent Petroleum Marketers Association of Nigeria (IPMAN) says strike threat by some oil marketers over lingering fuel subsidy debts is act of sabotage. IPMAN shuts down Anambra It also said in a statement by its National Secretary, Alhaji Danladi Pasali, in Abuja on Wednesday, that the threat was an attempt to disrupt the relative […]
Latest
ExxonMobil’s Massive Oil Discovery Keeps Getting Bigger
ExxonMobil (NYSE: XOM) and its partners Hess (NYSE: HES) and China’s CNOOC have found a treasure trove of oil off the shore of Guyana over the past four years. The companies recently unveiled the 10th discovery on their jointly held acreage position, which they now believe contains more than 5 billion barrels of recoverable oil. […]
Investors lose N413billion amid gloomy macro-economic indices
Analysts linked the poor performance to a combination of weak and mixed third quarter earnings, made worse by dwindling macro-economic indices that confirmed a slowdown reflected in the composite indices of the Nigerian Stock Exchange (NSE) for the month. Again, the Nigerian equity market was characterised by weak performances in November, which extended the downtrend […]
CIBN urges Nigerians abroad to invest in home country
The Chartered Institute of Bankers of Nigeria (CIBN) says it is encouraging Nigerians abroad to contribute to the development of the country’s economy, as part of its advocacy programmes. The president of the institut, Uche Olowu, said this while speaking about some of the initiatives of the CIBN during the 53rd Annual Bankers Dinner in […]
Nigerian bank FCMB has received $3 million after sale of 9mobile
Nigerian bank FCMB said on Wednesday it had received $3 million as part of the proceeds from the sale of debt-laden telecoms firm 9mobile, which was seized by its lenders and sold to new investors. In November, Teleology completed a takeover of 9mobile, the country’s fourth biggest operator, ending a long bidding process for the […]
Ahead of OPEC meeting, Trump urges producers to keep oil flowing
U.S. President Donald Trump on Wednesday called on the Organization of the Petroleum Exporting Countries and its allies not to cut oil production next year, saying it would trigger higher oil prices worldwide. “Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want to see, or need, higher oil […]
Nigeria: Special Federal Executive Council meeting For Friday
President Muhammadu Buhari will on Friday preside over a `Special’ Federal Executive Council meeting to deliberate solely on 2019 draft budget proposal. Mr Femi Adesina, the Special Adviser to the President on Media and Publicity, revealed this when he briefed State House correspondents at the end of the Council’s meeting. The News Agency of Nigeria […]
Message service Clickatell considers IPO to fund expansion -CEO
Clickatell, which helps companies communicate with customers via mobile messaging platforms, is considering a public offering next year as it seeks to fund a rapid expansion of its services, founder and CEO Pieter de Villiers said on Tuesday. Clickatell, which was founded in South Africa but is now based in California, could seek to list […]
Nigeria’s secret service arrest ‘fake first lady’
A woman who used various false identities to gain access to Nigeria’s presidential complex to allegedly run business scams has been arrested. The secret service said Amina Mohammed initially posed as Kogi state’s first lady to gain entry to the presidential villa in the capital, Abuja. She then allegedly invited people to the villa making […]
Rice importation in Nigeria To End 2020
Rice importation into Nigeria would end by 2020, the Policy Adviser of the John Kufuor Foundation (JKF), Hon. Abraham Dwuma, has said. He also said that Africa Rice Advocacy Platform (ARAP) under the JKF was also focused to achieve zero importation of rice on the continent. Dwuma told the News Agency of Nigeria (NAN) in […]