Business

Alleged oil theft: NNPC orders legal action against Mexican syndicate

A Mexican company at the centre of a controversial whistleblower testimony alleging 48 million barrels of crude oil theft, SAMANO SA DE CV, is in for legal trouble with the Nigerian National Petroleum Corporation, NNPC.

 

The corporation, in a statement on Thursday, instructed its C [...]

Sun, 02 August 2020


Covid-19: policemen disrupt FCT mobile court for arraigning colleagues

Some men of the Nigerian Police Force were recently said to have disrupted a court proceeding at an FCT Mobile Court, over the arrest and trial of their colleagues.

 

The officers allegedly stormed the court in Dei-Dei, and shot sporadically into the air to disperse the sitting set [...]

Sun, 26 July 2020


Regulators trade blame as killer fuels dominate oil business

While various scientific research results have linked annual deaths of more than 100,000 Nigerians to air pollution, partly caused by the dirty fuel imported into the country by commodity dealers, the various regulatory bodies saddled with the responsibility of ensuring [...]

Sun, 26 July 2020


CBN issues guidelines for 11 non-interest schemes

The Central Bank of Nigeria, CBN, has issued guidelines for its bouquet of 11 non-interest financial schemes.

 

The apex bank, in a circular to all non-interest financial institutions signed by its Director of Financial Policy and Regulation Department, Kevin Amugo, said the move wa [...]

Sun, 26 July 2020


Tank farms: NNPC not opposed to Lagos communities’ concerns- Kyari

The Nigerian National Petroleum Corporation, NNPC, says it is not opposed to concerns expressed by communities along Ijegun, Kirikiri areas in Lagos and other parts of the country where the tank farms are located.

 

Group Managing Director of the corporation, Mallam Mele Kyari, stat [...]

Sun, 26 July 2020


Nigeria’s investment drops by over $10 billion in H1 2020

Nigerian Investment Promotion Commission, NIPC, says only US$5.06 billion of investment announcements were tracked for the first half of 2020, representing 67 per cent less than the US$15.15 billion recorded in the first half of 2019.

 

The Commission, in statement made available to [...]

Sun, 26 July 2020


NIPC strike: Union reaches agreement with FG

Nigeria Investment Promotion Commission, NIPC, and its aggrieved staff union have reached an agreement to resolve the industrial impasse that crippled activities at the council headquarters in Abuja for an entire week.

 

NIPC management, in statement, said two agreements were signed [...]

Sun, 26 July 2020


Project 100 contributes N50bn to Nigeria’s GDP, 16, 500 jobs


Indigenous oil and gas service companies under Project 100 are currently contributing over N50 billion to Nigeria's Gross Domestic Product, GDP, and creating over 1,500 direct and 15,000 indirect job the nation’s unemployed.
The companies said they are determined to do their bit [...]

Sun, 26 July 2020


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