Business

CBN disburses N246.5b to manufacturing, health sectors Stories by Godfrey AKON

The Central Bank of Nigeria, CBN, says it has disbursed over N152.9 billion to the manufacturing sector to finance 61 manufacturing projects and another N93.6 billion to the healthcare sector to bolster the fight against Covid-19.

 

CBN said in a communiqué issued after its 2 [...]

Sun, 26 July 2020


Ministry urges SMEs, farmers to tap into $6bn moringa market

The Federal Ministry of Health has called on farmers and Small and Medium Enterprises (SMEs) to tap into the business potentials that abound in the nation’s moringa products market.

The ministry said the moringa market has the capacity of generating about $6 billion for the country annual [...]

Fri, 10 July 2020


New PPMC board tasked on energy sufficiency

The newly-reconstituted Board of the Petroleum Products Marketing Company, PPMC, has been charged to ensure availability of products across the country at all seasons.

Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, gave the charge on Thursday wh [...]

Fri, 10 July 2020


NIPC decries staff strike, says N500m spent on welfare

The Nigeria Investment Promotion Council, NIPC, has expressed great concern over the industrial action embarked upon by its Staff Union, over welfare matters.

The management of the council, in a statement, described the industrial action as unexpected in view of its commitment to staff welfare [...]

Fri, 10 July 2020


7 dead as explosion rocks OML 40 at Gbetiokun

Seven fatalities have been reported by the Nigerian National Petroleum Corporation, NNPC, following an explosion which occurred at Gbetiokun, OML 40, operated by the Nigerian Petroleum Development Company, NPDC, on behalf of the NPDC/Elcrest Joint Venture.

The incident occurred on Tuesday durin [...]

Fri, 10 July 2020


NNPC increased gas to power supply by 19% in April

The Nigerian National Petroleum Corporation, NNPC, says it recorded an increase of 19.14 per cent in average daily natural gas supply to power plants which translates to 788 million standard cubic feet of gas per day, mmscfd, equivalent to power generation of 2,873 Megawatts of electricity.

The [...]

Fri, 10 July 2020


FG, states debt stock rises to N28.63 trillion

Nigeria’s total public debt portfolio, for federal and states, stood at N28.63 trillion as at March 31, 2020.

The National Bureau of Statistics, NBS, disclosed this in a report on Nigerian Domestic and Foreign Debt, Q1, 2020.

The reported said Nigerian states and federal total publ [...]

Fri, 10 July 2020


Nigeria produces 218.37b cubic feet of gas in March

Nigeria produced 218.37 billion cubic feet, BCF, of natural gas through its state-run oil corporation, the Nigerian National Petroleum Corporation, NNPC, in March 2020.

 

The data which translates to an average daily production of 7493.65 million standard cubic feet per day, mmscfd, [...]

Sat, 27 June 2020


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