Business

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


Access Bank ends cheques bearing Diamond Bank logo

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 s [...]

Tue, 03 March 2020


Inflation rises to 12.13% in January 2020

Nigeria’s inflation rate continued in an upward swing last week, hitting a two-year height of 12.13 per cent in January 2020.

The data released in a Consumer Price Index, CPI, report by the National Bureau of Statistics, NBS, for December 2019, indicates a steady rise of prices in the pas [...]

Sun, 23 February 2020


NNPC, partners disburse $360 million for Ogoni clean-up

The Nigerian National Petroleum Corporation, NNPC, and its joint venture partners have disbursed $360 million for the Ogoni land clean-up as recommended by the United Nations Environment Programme, UNEP.

The corporation said in a statement that funding was no longer the challenge of the Ogoni l [...]

Sun, 23 February 2020


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