Business

40% of Nigerians are financially excluded- NDIC

The Nigeria Deposit Insurance Corporation, NDIC, has said 40 per cent of Nigerians are either financially excluded or operate outside the formal financial system.

Managing Director of the Corporation, Alhaji Umaru Ibrahim, who stated this while receiving the Alumni Association of the National F [...]

FG to support Nigeria’s automotive industry

President Muhammadu Buhari has pledged the Federal Government's support for the automotive industry to improve local capacity in the car manufacturing business.

Buhari stated this in Abuja while Flagging off the 2020 Argungu Festival Automobile Rally participated by locally manufactured and [...]

50 Nigerian oil cargoes stranded as demand drops

Due to the coronavirus pandemic, about 50 cargoes of crude oil belonging to Nigeria have not found landing as there is a drop in demand.

Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, said as at last week, there were over 12 stranded liquefied n [...]

Petrol: FG mulls pump price reduction

Indications emerged weekend that the Federal Government is mulling a reduction of the pump price of premium motor spirit also known as petrol.

This followed the crash in the price of crude globally.

Already, consultations with relevant stakeholders have commenced according to the Ministe [...]

NNPC wins Nigeria oil industry games

Athletes representing the Nigerian National Petroleum Corporation, NNPC, saw off stiff competition from Industry counterparts to emerge champions at the 2020 edition of the Nigeria Oil and Gas Industry Games, NOGIG, which took place at the Teslim Balogun Stadium, Surulere, Lagos.

NNPC amassed 4 [...]

Access Bank stops Diamond Bank cheques

Access Bank Plc has announced the discontinuation of all cheques bearing the logo of former Diamond Bank Plc from March 1, 2020.

The bank, in a flyer distributed to its customers, said the move was in order to process customers’ transactions more efficiently and ultimately serve them bett [...]

OPEC defies Covid-19, opens crucial meetings

The Organisation of Petroleum Exporting Countries, OPEC, has open crucial meetings with ministers of member nations, amidst international concerns over the spread of the novel coronavirus disease, Covid-19.

Nigeria's Minister of State for Petroleum Resources, Chief Timipre Sylva, joined his [...]

SOAN mulls investment on ship repairs in Nigeria

Ship Owners Association of Nigeria, SOAN, has hinted on venturing into ship repairs on the shores of Nigeria.

SOAN President, Dr Mkgeorge Onyung, who disclosed this on a visit to the Minister of State for Petroleum Resources, Chief Timipre Sylva, said the association was keen on floating a Ship [...]