Economy Archives — Page 98 of 231

August 22, 2023 No Responses

Farmers Seek Improved Investment In Agriculture

AS economic situation bites harder on Nigerians, some farmers in Gombe have urged the state government to leverage the additional funds received from the Federation Account Allocation Committee (FAAC), to invest in the agriculture. They said such investment was imperative...

August 22, 2023 No Responses

LNG’s Plant Strike Push-Up Gas Price

The prospect of a possible strike at a Liquefied Natural Gas (LNG) plant in Australia has pushed wholesale gas prices up in Europe. The Offshore Alliance union warned that a strike at the North West Shelf facility could start as...

August 22, 2023 No Responses

NETCO Declares N5.53b Profit For 2022

THE NNPC Engineering and Technical Company (NETCO), a subsidiary of the Nigerian National Petroleum Company Limited (NNPC), has reported a profit before tax of N5.53 billion for the year ended Dec. 31, 2022. The profit represents a 178 per cent...

August 22, 2023 No Responses

Ex-NIMASA DG, Dakuku Peterside To Speak At Maritime Conference In Saudi Arabia

Former chairman of the Association of Africa Maritime Administrations (AAMA), Dakuku Peterside, will be speaking at the sustainable maritime industry conference, scheduled for Jeddah, Saudi Arabia, from September 4 – 6. The conference, under the patronage of...

August 22, 2023 No Responses

Oyetola Pledges Safe, Sustainable Marine Economy

The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola has pledged to ensure oceans and marine were safe, reliable, and sustainable across the nation. Oyetola made the declaration when he assumed office on Monday in Abuja. According to him, oceans...

August 21, 2023 No Responses

Oil Prices Up As Global Supply Drop

Oil prices rose on Monday as global supply is tightening with lower exports from Saudi Arabia and Russia, offsetting nagging concerns about global demand growth amid high-interest rates. Reuter report that Brent crude climbed 75 cents to $85.55 a barrel...

August 21, 2023 No Responses

Tinubu Appoints Minister For Niger Delta, Redeploys Oyetola To Marine & Blue Economy

President Bola Ahmed Tinubu has approved the redeployment of Abubakar Momoh from the Federal Ministry of Youth to the Federal Ministry of Niger Delta Development. In a statement on Sunday, Presidential spokesman, Ajuri Ngelale explained that Tinubu will announ...

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.&...

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), ...