Category: Economy

600 Firms Bid For Nigeria’s 57 Marginal Oilfields
July 7, 2020 No Responses

600 Firms Bid For Nigeria’s 57 Marginal Oilfields

Over 600 companies have applied to be prequalified for the ongoing bid rounds of 57 marginal oilfields in Nigeria, the Department of Petroleum Resources (DPR) has said. Director of DPR, Mr Auwalu Sarki made the disclosure while speaking on Tuesday in a...
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FCTA Threatens To Shut GTBank Over Alleged COVID-19 Protocol Violation
July 7, 2020 No Responses

FCTA Threatens To Shut GTBank Over Alleged COVID-19 Protocol Violation

The Federal Capital Territory Administration (FCTA) has threatened to seal some Guarantee Trust Bank branches in Abuja over alleged non-adherence to COVID-19 safety protocols in their operations. Chairman of the FCTA Enforcement Team on COVID-19, Mr Ikharo Att...
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Nigeria Proposes N2.3t To Boost Mining, other sectors
July 6, 2020 No Responses

Nigeria Proposes N2.3t To Boost Mining, other sectors

The Minister of Mines and Steel Development, Mr Olamilekan Adegbite, has proposed N2.3 trillion to boost the mining and other sectors of the economy in post COVID-19 rescue operations. Adegbite said this in an interactive session with Journalists on Federal...
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Yuguda, New SEC Nigeria Boss Resumes, Pledges To Tackle Market Manipulation
July 6, 2020 No Responses

Yuguda, New SEC Nigeria Boss Resumes, Pledges To Tackle Market Manipulation

The Director General of the Securities and Exchange Commission(SEC) Mr. Lamido Yuguda has stated that the capital market has a lot of potentials for growth and development of Nigeria post COVID-19 and beyond.  Yuguda resumed alongside the Executive Commis...
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FG Grants 60% Debt Relief To Broadcast Stations
July 6, 2020 No Responses

FG Grants 60% Debt Relief To Broadcast Stations

The Federal Government has approved 60 percent debt forgiveness for all debtor broadcast stations in the country to cushion the effects of COVID-19 on the industry. The Minister of Information and Culture, Alhaji Lai Mohammed, announced this on Monday in...
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Access Bank To Reward Over 1,000 DiamondXrra Customers
July 6, 2020 No Responses

Access Bank To Reward Over 1,000 DiamondXrra Customers

Access Bank Plc is to reward over 1,000 DiamondXtra customers with various grants and cash prize in the second DiamondXtra quarterly draw of Season 12. The bank’s Group Head, Retail Products and Segments, Adaeze Ume, disclosed this in a statement...
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Market Capitalisation Opens Week With N162b Loss
July 6, 2020 No Responses

Market Capitalisation Opens Week With N162b Loss

The Nigerian Stock Exchange (NSE) market capitalisation opened the week on Monday with a loss of N162 billion in a day. Specifically, the market capitalisation which opened at N12.695 trillion lost N162 billion to close at N12.533 trillion. Also, the...
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PwC Nigeria Admits Eight New Partners
July 3, 2020 No Responses

PwC Nigeria Admits Eight New Partners

PwC Nigeria has admitted eight professionals into its partnership, with effect from July 1, 2020.  According to PwC, this is a record number for “the leading professional services firm, demonstrating its commitment to diversity, inclusion, and developin...
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BUA To Set Up 3m Metric Tonnes Cement Plant In Adamawa
July 3, 2020 No Responses

BUA To Set Up 3m Metric Tonnes Cement Plant In Adamawa

The Chairman of BUA Group of Company, Alhaji Abdussamad Rabiu, on Friday disclosed that the firm will set up a three million  metric tonnes cement plant in Adamawa. Rabiu disclosed this when he paid a courtesy visit to Gov. Ahmadu...
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NCDMB Signs Agreements On Energy Park In Edo, Oil Blending Plant In Bayelsa
July 3, 2020 No Responses

NCDMB Signs Agreements On Energy Park In Edo, Oil Blending Plant In Bayelsa

The Nigerian Content Development and Monitoring Board (NCDMB) has signed an equity investment agreement with Duport Midstream Company for the establishment of an Energy Park in Egbokor, Edo State. The Board also signed an equity investment agreement with Erask...
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NPA To Receive 33 Ships Laden With Petroleum Products, Used Vehicles, Others
July 3, 2020 No Responses

NPA To Receive 33 Ships Laden With Petroleum Products, Used Vehicles, Others

The Nigerian Ports Authority (NPA) is expecting 33 ships laden with petroleum products, food items and other goods from July 3 to July 16. In its publication, `Shipping Position’, on Friday, NPA explained that the ships are expected to arrive...
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Buhari Pledges Speedy Completion Of $2.5b Ajaokuta-Kaduna-Kano Gas Pipeline Project
June 30, 2020 No Responses

Buhari Pledges Speedy Completion Of $2.5b Ajaokuta-Kaduna-Kano Gas Pipeline Project

President Muhammadu Buhari on Tuesday in Abuja affirmed the Nigerian government’s commitment to ensure timely delivery of the landmark Ajakuota-Kaduna-Kano Gas (AKK) gas pipeline project within budgetary allocation and specifications. Speaking at the virtual...
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SAHCO Shareholders Approve N223.34m Dividend For 2019
June 30, 2020 No Responses

SAHCO Shareholders Approve N223.34m Dividend For 2019

Shareholders of Skyway Aviation Handling Company PLC (SAHCOL) on Tuesday approved a total dividend of N223.34 million for the financial year ended December  31, 2019, translating to 16.50k per share.  The shareholders unanimously gave the approval at the co...
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Fidelity Bank Lauds NNPC, OilServ, Pledges Support For $2.8b AKK Gas Project
June 30, 2020 No Responses

Fidelity Bank Lauds NNPC, OilServ, Pledges Support For $2.8b AKK Gas Project

Fidelity Bank Plc, Tuesday commended the Nigerian National Petroleum Corporation (NNPC) and Oilserv, contractors to the $2.8bn Ajaokuta – Kaduna – Kano (AKK) Gas Pipeline Project, which was flagged off Tuesday, June 30, 2020, with the ground breaki...
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