Latest Nigeria Business News
The Federal Government has received statements of qualification from a total of 240 firms that want to commercialise gas flaring in Nigeria. It was gathered on Tuesday that the interested parties submitted their statements of qualification in response to the request for qualification package of the Nigerian Gas Flare Commercialisation Programme. This was contained in […]
The Senate on Tuesday approved a $266m loan request for developmental projects in Niger State. The loan is the state’s Development Policy Operation credit facilities from the World Bank as well as the Islamic Development Bank. The approval followed the adoption of the report of the Committee on Local and Foreign Debts. It is the […]
First Bank of Nigeria Limited says it will create awareness on cybersecurtiy. In a statement, it said the fourth edition of its Fireside chat which would hold at its Digital Innovation Lab in Yaba, Lagos, would focus on, ‘Cybersecurity in digital payments’, and the topic would be delivered by the Co-Founder of Digital Encode, Dr […]
The Western Marine Command of the Nigeria Customs Service has announced a seizure of N32.8m cannabis. The Customs Area Commander of the Command, Boyiliya Binga, disclosed this while handing over the seized cannabis to the officials of the National Drug Law Enforcement Agency. He said that the cannabis and other items were seized from Bawe […]
The Senate on Tuesday approved the payment of N68.9bn as outstanding subsidy claims to 20 petroleum marketers. The breakdown showed that N10.8bn was approved as subsidy claim to Tanzila Petroleum Company, while N58.1bn was okayed for 19 oil marketing companies. Some of the oil marketers are Conoil, Oando, A&E Petroleum, Matrix Energy, Ontario Oil & […]
The total assets under the Contributory Pension Scheme rose to N9.03tn as of the end of March 2019. The funds, which had continued to record a steady rise, was N8.33tn at the end of August 2018. Figures obtained from the National Pension Commission on Thursday revealed that N6.5tn or 72.08 per cent of the assets […]
The Federal Government will reduce its stakes in joint venture oil assets to 40 per cent in the 2019 fiscal year, budget documents released on Tuesday showed, according to Reuters. The Minister of Budget and National Planning, Senator Udo Udoma, disclosed in March government’s plan to reduce its stakes in the assets. The President Muhammadu […]
A total of 223 local and international investors in the oil and gas sector are bidding to lift Nigeria’s natural gas liquids. Bids submitted by the firms were opened on Tuesday during the 2019/2021 Natural Gas Liquids bids opening ceremony at the headquarters of the Nigerian National Petroleum Corporation in Abuja. The Group Managing Director, […]
The Federal Government may increase the level of borrowing this year to address the N102.8bn funding gap that has been created as a result of the National Assembly’s tinkering with the 2019 budget. The Minister of Budget and National Planning, Senator Udo Udoma, said this on Tuesday in Abuja during the public presentation of the […]
The convoy of the Minister of Finance, Mrs Zainab Ahmed, was on Tuesday night blocked by angry pensioners of the defunct Nigerian Airways. The pensioners, who had arrived the headquarters of the Ministry of Finance on Tuesday morning for pension verification, claimed that they travelled to Abuja from various parts of the country on the […]