Business

Buhari gets senate’s approval for $22.7bn loan

President Muhammadu Buhari on Thursday secured the Senate’s approval for $22.7 billion external loan, setting the tune for a significant rise in Nigeria’s external debt profile in the coming months.

Nigeria’s current domestic and foreign debt is put at about $83 billion with a [...]

Sun, 08 March 2020


WIEN seeks closure of Nigeria’s energy gaps

As part of activities marking the 2020 International Women Day, an apolitical women group, Women in Energy Network, WIEN, has stressed the need for mandatory initiatives to close Nigeria’s energy gaps.

WIEN President and Managing Director Zigma Oil and Gas, Mrs. Funmi Ogbue, said the goru [...]

Sun, 08 March 2020


2019 investment dropped by $61 billion – NIPC

The Nigerian Investment Promotion Commission, NIPC, says $29.91 billion was tracked as investment announcements for the year ended, 2019, representing 204 per cent less than the $90.89 billion tracked in 2018.

NIPC, in a statement, attributed the huge difference to the uncertainty around 2019 a [...]

Sun, 08 March 2020


Nigeria is Africa’s leading exporter of LNG- NNPC

The Nigerian National Petroleum Corporation, NNPC, says Nigeria is Africa’s leading exporter of liquefied natural gas, LNG, and the 4th in the World after Qatar, Australia and Malaysia.

Group Managing Director of NNPC, Mallam Mele Kyari, stated this at the 4th Sub-Saharan Africa Internati [...]

Tue, 03 March 2020


NDIC wins N1.4bn suit against gulf bank debtors

The Nigeria Deposit Insurance Corporation, NDIC, has won a debt-recovery suit against Jolimair Nigeria Limited and three other debtors over a N1.4 billion debt owed the defunct Gulf Bank Plc.

NDIC had instituted the case with suit Number: FHC/L/CS/1328/17 in 2017, under the Failed Banks Act to [...]

Tue, 03 March 2020


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 assoc [...]

Tue, 03 March 2020


NNPC launches high performance engine oils

The Nigerian National Petroleum Corporation, NNPC, has commenced the introduction of its Nitro and Rhino range of engine oils into the market.

Group Managing Director of NNPC, Mallam Mele Kyari, disclosed this at the formal launch of the products in Abuja last Friday.

Addressing marketer [...]

Tue, 03 March 2020


Investment dropped by $61 billion in 2019- NIPC

The Nigerian Investment Promotion Commission, NIPC, says $29.91 billion was tracked as investment announcements for the year ended, 2019, representing 204 per cent less than the $90.89 billion tracked in 2018.

 

 NIPC, in a statement, attributed the huge difference to the uncer [...]

Tue, 03 March 2020


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