Economy Archives — Page 126 of 259

August 21, 2023 No Responses

$3b NNPCL/Afreximbank’s Naira Rescue Agenda Excites Tinubu

President Bola Tinubu is happy that the $3 billion in crude-for-cash funding secured from the African Export-Import Bank (Afreximbank) by the Nigerian National Petroleum Corporation (NNPC) Limited is gradually giving a breather to the foreign exchange market. The NNPC Limited...

August 21, 2023 No Responses

NDLEA Raids Drug Warehouse, Recovers N4.8b Worth Of Opioids

Multi-billion-naira worth of illicit drugs were again seized at a warehouse tucked in the midst of popular International Trade Fair Complex, Alaba, Ojo area of Lagos by operatives of the National Drug Law Enforcement Agency, NDLEA on Saturday 19th Au...

August 20, 2023 No Responses

Firm Hands Over LNG-Fueled Car Carrier To NYK Line

Japanese shipping major NYK Line has taken delivery of the fourth and final LNG-powered pure car truck carrier (PCTC) from China Merchants Jinling Shipyard (Nanjing) Co. The vessel named Sumire Leader was delivered to NYK on 14 August, which is 139 d...

August 19, 2023 No Responses

SIFAX Logistics Boosts Operations With 13 New Trucks

SIFAX Logistics Company Limited, the haulage subsidiary of SIFAX Group, has boosted its operations with the acquisition of 13 brand new trucks. The trucks, which are 33 tons 6×4 MAN diesel vehicles with 400 horsepower, will help the company increase its....

August 18, 2023 No Responses

TotalEnergies Equips LNG Carrier With Carbon Capture System

A ship-based carbon capture (SBCC) prototype developed under the EverLoNG project has been installed on an LNG-powered LNG carrier owned by energy major, TotalEnergies while in drydock in Spain. The carbon capture unit was built in the Netherlands by carbon...

August 18, 2023 No Responses

FG Approves 5b Palliative For Each State, FCT

The Federal Government has approved N5billion for each state and the Federal Capital Territory (FCT) to procure food items for distribution to the poor in their respective states. Governor Babagana Zulum of Borno State disclosed this at the Presidential Villa,...

August 18, 2023 No Responses

Transcorp Acquires 60% Stake In Abuja Disco

As part of measures to further consolidates its position and investments in the Nigerian power sector, Tony Elumelu-led Nigerian conglomerate, Transcorp Group, has successfully acquired a 60-per cent stake in the Abuja Electricity Distribution Company (AEDC), ...

August 18, 2023 No Responses

GOCOP To Hold 2023 Annual Conference In Abuja

The Guild of Corporate Online Publishers (GOCOP) has announced that its 2023 Annual Conference will be held in Abuja, Nigeria’s Federal Capital Territory. According to a press statement signed by Danlami Nmodu, mni and Olumide Iyanda, Chairman and Secret...

August 18, 2023 No Responses

Stakeholders To Brainstorm On Digital Infrastructure At FICAN Conference

In view of the challenges that emerged from the electronic payment system in the first quarter of 2023, stakeholders are set to provide solutions in line with Nigeria’s Payment System Vision (PSV) 2025.The Central Bank of Nigeria (CBN) in December...

August 17, 2023 No Responses

Tinubu’s Ministers, Portfolios

President Bola Tinubu, on Wednesday, assigned portfolios to 46 Ministers designate cleared recently by the Senate. The list, released in a statement included former Rivers State governor Nyesom Wike as Minister of Federal Capital Territory (FCT) and Festu...

August 16, 2023 No Responses

Nigeria Denies fresh Agenda To Reintroduce Fuel Subsidy

President Bola Tinubu has no plans to reintroduce any form of fuel subsidy or reverse the deregulation policy, the Federal Government declared on Tuesday. The clarification is contained in a tweet issued by the Senior Special Assistant to the President.....

August 15, 2023 No Responses

Firm Unveils Ultra-Modern Showroom

Carloha Nigeria, provider of luxury automobiles has announced the opening of its new ultra-modern showroom at The Palms in Lekki, Lagos State. A statement sent to City Business News explained that “the state-of-the-art facility will serve as a showcase for.....

August 15, 2023 No Responses

NGX, CIS, ASHON Partner MOFI On Market Development, Listings

Nigerian Exchange Limited (NGX), Chartered Institute of Stockbrokers and the Association of Securities Dealing Houses of Nigeria (ASHON), have demonstrated their willingness to collaborate with the Federal Government through the Ministry of Finance Incorporate...

August 15, 2023 No Responses

CBN: New FX Policy Will Lead To Losses For Speculators

The acting Governor of the Central Bank of Nigeria (CBN) Fola Shonubi, on Monday warned speculators of potential losses as they implement a new policy to stabilize the exchange rate regime. Shonubi explained that the CBN has come up with...