Latest Nigeria Business News
The United States Southern District Court of New York has delivered a significant judgment in favour of the Nigerian National Petroleum Corporation (NNPC) against ESSO Exploration and Production Nigeria Limited and Shell Nigerian Exploration and Production Company Limited (collectively, ESSO). The court hearing was held on February 1, this year in the protracted litigation arising […]
The Petroleum Products Pricing Regulatory Agency on Sunday said Nigeria currently has 83,898,511 litres of aviation fuel. It also said the country has 210,850,457 litres of petrol. The Executive Secretary, PPPRA, Abdulkadir Saidu, who stated this in Abuja, explained that the country presently has 38 days sufficiency of aviation fuel. He said available data after […]
The National Pension Commission says it is driving the growth of the Micro Pension Plan and that it expects it to have positive impact on the economy and boost the pension assets. The acting Director-General, Pencom, Aisha Dahir-Umar, during a conference in Lagos said, “The commission expects that the implementation of the Micro Pension Plan […]
Governor of Lagos State, Babajide Sanwo-Olu, has said new policies that will regulate the operations of motorcycles, popularly known as Okada, in the state are being formulated. Sanwo-Olu, who made this known on Friday while giving an account of his stewardship in the first 100 days in office in Ikeja, the state capital, said the […]
No fewer than 19 assorted rifles recovered from repentant bandits in Zamfara State by the police were handed over to the state government on Friday. Police Commissioner, Usman Nagogo, who displayed the retrieved firearms to Governor Bello Matawallen said they were recovered between August 30 and September 5. According to him, the firearms were surrendered […]
THE Federal Government and the House of Representatives are pushing ahead with demands for compensation to Nigerian victims of the xenophobic attacks in South Africa, regardless of hints by Pretoria that it has no intention of paying. While Foreign Affairs Minister Godfrey Onyeama declared on Friday that Nigeria will challenge South Africa’s claims that its […]
The Independent Petroleum Marketers Association of Nigeria, IPMAN, has promised to increase supply of petroleum products to residents within Cross River State and environs. Robert Asu-Obi, the interim C hairman of IPMAN Cross River State chapter, gave the assurance in Calabar capital city during a parley with newsmen over the prolonged scarcity of fuel. Recently, […]
The Kwara State Governor, Abdulrahman Abdulrazaq, says the World Bank has indicated interest in supporting the state government Social Investment Programme which components include TraderMoni, MarketMoni, and FarmerMoni, among other supports for small and medium scale businesses. “We are targeting 1,000 beneficiaries under our own scheme. We are working with the Federal Government agencies that handled the […]
The National Bureau of Statistics (NBS) says the total value of capital importation into Nigeria in the second quarter of 2019 is 5.820 billion dollars, representing a decrease of -31.41 percent compared to the first quarter. The NBS said this in its “Nigerian Capital Importation, Quarter Two, 2019” report released and obtained from its website. The bureau, however, […]
The Economic and Financial Crimes Commission’s Port Harcourt Zonal Office, says it has commenced investigation of 58 suspected oil thieves allegedly involved in illegal oil bunkering. The EFCC on its website said the suspects and vessels were handed over to the EFCC by the Nigerian Navy Ship Pathfinder for further investigation and possible prosecution. It […]