Latest Nigeria Business News
Nigerian pilots have raised the alarm over the poor state of runways in some airports. They are seeking urgent intervention from government agencies to avert accident. Measures, they said, should be taken to clear the runways of foreign object damage (FOD), including debris at the airside, which affects aircraft tyre types and other underbelly components. […]
Digitalisation and connectivity are twin-words shaping the new era of business transaction. There are gaps to be filled in the provion of financial services to adequately address the Federal Government’s financial inclusion goals for 2020. But financial technology (fintech) firms are springing up to close access gaps in the provison of financial services. LUCAS AJANAKU […]
Oil surged to a five-week high on Monday after Saudi Arabia and Russia signalled an extension of the non-members of the Organisation of Petroleum Exporting Countries (OPEC+) output cuts and a United States (U.S.)-China agreement to restart trade talks improved the demand outlook. WTI oil for August delivery climbed $1.64 to $60.11 a barrel on […]
THE Executive General Manager, Egina Close Out/Preowei Project, Total E&P Limited, Engr. Kayode Akioye, on Monday accused insurance firms in the country of not doing enough to grow the oil and gas sector. He urged the players in the sector to contribute their quota to the development of the oil and gas industry. Speaking at […]
Another set of 20 loyal customers will join the rising number of millionaires to win N1.5m each, in the third edition of the UBA Wise Savers promo quarterly draw. The bank said on Monday that new millionaires would emerge in a transparent draw in the presence of representatives from the Consumer Protection Council, National Lottery […]
The Federal Government has cleared the N135.8bn Pay-As-You-Earn tax liabilities owed by federal Ministries, Department and Agencies to state governments. The PAYE tax liabilities owed to various state governments covered the period between 2002 and 2016. The Executive Chairman, Federal Inland Revenue Service, Mr Babatunde Fowler, confirmed the payment on Monday in Abuja at the […]
Nigeria, on Monday, expressed its support for a nine-month extension of oil production cuts by the Organisation of Petroleum Exporting Companies and other producers. OPEC ministers met on Monday and approved in principle a nine-month rollover of its output cut agreement at the same levels, S&P Global Platts quoted two sources as saying, as the […]
The Nigerian Aviation Handling Company Plc has revealed plans to expand its agricultural export business following growth prospects in the sector. The Managing Director and Chief Executive Officer, NAHCO, Mrs Tokunbo Fagbemi, said the handling company planned to spend N3.6bn on equipment as part of the expansion. “The export business is actually growing especially agric […]
The Nigerian Content Development and Monitoring Board on Monday revealed that it had so far disbursed $160m out of the $200m Nigerian Content Intervention Fund to oil companies for the development of modular refineries, and capacity building, among others. It also lambasted international oil companies operating in Nigeria for not appreciating the in-country capacities that […]
Chevron Nigeria Limited has announced that the fire at the Ojumole Well No. 1 in Ondo State has been safely put out, more than two months after it broke out. CNL is the operator of the joint venture between the Nigerian National Petroleum Corporation and CNL, and Ojumole field is in NNPC/CNL JV’s Western Niger […]