Category: Economy
Edo Modular Refineries Hit 300,000 bbls Crude Order
Duport Midstream Company Limited (DMCL), which operates the 2500 barrels per day (bpd) modular refinery in Egbokor, Orhionmwon Local Government Area of Edo State, has placed an order for 100,000 barrels of crude (bbls) from Oza oil OML 11, operated...
NCDMB Backs Confab On Local Content Implementation In Insurance Industry
The Nigerian Content Development and Monitoring Board, NCDMB, has accepted to lead discussion at the 2023 National Conference on Building Local Content Synergy between the Insurance Industry and Oil and Gas Sector. Executive Secretary of the Board, Simbi Kesiy...
CBN Explains Unification Of All Exchange Rate Windows
In a bid to improve liquidity and stability, the Central Bank of Nigeria (CBN) has announced the unification of all segments of the forex market collapsing all windows into one. According to a press statement signed by the Director of...
COSCHARIS PRESENTS PRODUCTS AT LAGOS MOTOR FAIRi
Coscharis Motors, a subsidiary of Coscharis Group and the exclusive franchisee of the Ford brand in Nigeria excited automobile enthusiasts and customers at the recently held 2023 Lagos Motor Fair and Autoparts Expo, which took place in Lagos. Coscharis’s par...
Fitch Affirms Fidelity Bank Ratings with Stable Outlook
Fitch Ratings has affirmed Fidelity Bank Plc’s credit rating at ‘B-‘ with a stable outlook, according to its recent report. The global rating agency also upgraded the bank’s National Short-Term Rating to ‘F1+(nga)’ from ‘F1(nga)’. It said...
Excitement As Thousands Throng Ecobank Adire Lagos Experience
It was a beehive of activities and funfair at Ecobank Adire Lagos Experience which took place over the weekend at the sprawling Ecobank Pan African Center (EPAC), Lagos. The 3-days Adire exhibition which is the second edition according to the bank...
At NDSF 2023, Stakeholders Restate Importance Of 5G Services
Stakeholders in the Information and Communication Technology (ICT) industry have restated the value of the Fifth Generation (5G) services, especially on the positive use of the internet to ease connectivity.They also noted that 5G technology has enhanced capab...
Telecom Sector Contributes N2.508Tri To Nigeria’s GDP
The telecommunications and Information Services sector in Nigeria has, in the first quarter 2023, delivered a handsome N2.508 trillion in terms of financial value contribution to the nation’s gross domestic product (GDP), representing 14.13 per cent. F...
Fidelity Bank Holds International Trade expo in Houston October
Building on the resounding success of the maiden edition of the Fidelity International Trade and Creative Connect (FITCC) in London, UK last November, Fidelity Bank Plc, has announced plans to host the second edition of the trade expo in Houston,...
Ardova Shareholders Okay Transfer Of Shares At N17.88 Per Share
The shareholders of Ardova Plc, at a Court Ordered Meeting held in Lagos, on Wednesday, 31 May, 2023, approved the Scheme of Arrangement for the holders of its fully paid ordinary shares of 50 kobo each, subject to the approval...
Elumelu: Africa Needs To Rethink Its Relationship With Business
Africa needs to rethink its relationship with business, foremost Nigerian industrialist and Chairman, Heirs Holdings Group, Tony Elumelu, has reinstated. According to Elumelu, “Africapitalism” means the private sector can transform Africa’s economy and s...
NGX RegCo, ISSB, FRCN To Host Webinar On Sustainability Disclosure Standards
NGX Regulation Limited (NGX RegCo), in collaboration with the International Sustainability Standards Board (ISSB) and Financial Reporting Council (FRC) of Nigeria, is set to host a 3-day workshop/webinar on sustainability disclosure standards for companies as ...
DNV: Biofuel Key To Maritime Decarbonisation
The flexibility of biofuels can enable the shipping industry to accelerate its journey towards decarbonisation while maintaining operational efficiency. In its latest white paper “Biofuels in shipping,” classification society, DNV reported that the current...