Business

NNPC records 43% drop in pipeline vandalism in May

The Nigerian National Petroleum Corporation, NNPC, has recorded a 43 per cent drop in cases of willful damage of its oil pipeline infrastructure by suspected oil thieves in May, 2020.

The corporation, in a statement by its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru [...]

Sun, 09 August 2020


Nigeria needs bold economic policies to reverse decline-NIPC

As the global economy struggles under the grip of Covid-19, the Nigerian Investment Promotion Commission, NIPC, says bold economic policies are required to reverse the decline in investment in the country.

NIPC had disclosed in a statement that Nigeria’s investment announcements dropped i [...]

Sun, 09 August 2020


Dantata partners Cross River on industrial agric

Dantata Foods and Allied Products Limited has initiated a partnership with the Cross River State Government on industrial agriculture and export businesses.

General Manager Corporate Services of the company, Mr. Sanusi Bature, disclosed this on Thursday in Calabar, while leading a delegation of [...]

Sun, 09 August 2020


Retail market contributes 16% GDP to Nigeria- NIPC

Nigeria Investment Promotion Commission (NIPC) says the retail market in Nigeria remains a growth driver in the country’s economy, contributing about 16 per cent of its Gross Domestic Product (GDP).

Executive Secretary of NIPC, Ms Yewande Sadiku, who disclosed this during a virtual parley [...]

Sun, 09 August 2020


Anxiety as NUPENG declares strike in Lagos

Nigeria’s relatively stable fuel distribution network is bracing for disruption as the national leadership of the Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has directed the withdrawal of services of petroleum tanker drivers from Lagos State with effect from Monday, 10th August [...]

Sun, 09 August 2020


NNPC signs pact with partners to resolve OML 130 dispute

The Nigerian National Petroleum Corporation, NNPC, says it has reached an agreement with its partners, China National Offshore Oil Company, CNOOC, and South Atlantic Petroleum, SAPETROL, to settle all outstanding issues surrounding the development of Oil Mining Lease, OML,130.

Sat, 08 August 2020


VAT: FG generates N651.77bn in H1 2020

Despite a struggling economy triggered by the Covid-19 pandemic, the Federal Government generated N651.77 billion as Value Added Tax, VAT, in the first half of 2020.

National Bureau of Statistics, NBS, disclosed this in its report on Sectoral Distribution of Value Added Tax - H1 2020, [...]

Sun, 02 August 2020


FG approves Siemens’ 25,000MW electricity expansion contract

The Federal Government has approved Siemens’ pre-engineering contract to commence work on the significant expansion of Nigeria’s electricity transmission and distribution network and also generation capacity.

 

Siemens disclosed this in a statement, explaining that [...]

Sun, 02 August 2020


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