Latest Nigeria Business News
The Organisation of Petroleum Exporting Countries (OPEC) is close to reaching an agreement to extend the production cut deal beyond its current expiry date at the end of he month, Saudi Arabia Energy Minister, Khalid al-Falih, said at the weekend. “On the OPEC side, a roll over is almost in the bag. The question is […]
There are more compelling reasons now than before for the Federal Government to remove the petroleum subsidy, and channel the money into some other social intervention programmes of the government that had direct impacts on the poor in view of the low government revenue. The FSDH Merchant Bank stated this in its monthly economic and […]
In this piece, IFEANYI ONUBA writes that there is a need for Nigeria to bridge maritime transport infrastructure gap to be able to stimulate non-oil exports By virtue of its human and natural resources endowment, Nigeria has the potential to become a major player in the global economy. However, this potential has remained relatively untapped over the […]
Shell Nigeria Gas says it has increased its gas distribution capacity by over 150 per cent following the safe completion of its second gas train, the Agbara-Ota Capacity Increase Project. The facility enables SNG and its partners to achieve regular gas supply to subscribed industries in Ogun State while efforts are ongoing to reach more […]
The importation of Premium Motor Spirit, popularly known as petrol, into Nigeria, through the Direct Sale Direct Purchase scheme of the Nigerian National Petroleum Corporation, has increased by 534 million litres. The NNPC engages qualified companies in a Direct Sale of crude oil and Direct Purchase of petroleum products to ensure sustainable product supply across […]
The Lagos Chamber of Commerce and Industry has called for the concessionary tax rate for the Small and Medium Enterprise sector of the economy. Making the call in a communiqué issued at the end of its council meeting held over the weekend, the LCCI noted that small businesses were more vulnerable to the current challenges […]
The nation’s refineries suffered huge losses in the first four years of President Muhammadu Buhari’s administration as they were left in a state of disrepair, ’FEMI ASU writes Federal Government-owned refineries, located in Port Harcourt, Kaduna and Warri, lost over N231bn in the last four years as the proposed rehabilitation of the plants suffered a setback. The […]
The Chartered Insurance Institute of Nigeria has said it has recorded landmarks in human capital development in the country. In a statement, the institute said it was set to commemorate its 60th anniversary with a schedule of activities to acknowledge the institute’s contribution to the development of manpower in the country in the past 60 […]
The Securities and Exchange Commission said on Sunday that Oando Plc was provided sufficient opportunity of being heard before it was penalised. SEC said in a statement that its attention had been drawn to various reports questioning its regulatory authority and insinuating a lack of due process in the investigations of the oil firm. It […]
The consumption of white petroleum products across the country increased by about 30 million litres within one month, rising from the 1.33 billion litres consumed in February this year to 1.36 billion litres in March. Also, the Nigerian National Petroleum Corporation made a total of N174.62bn from the sale of white petroleum products (petrol, kerosene […]