Business news
THE nation’s external reserve will this month hit $35 billion, the highest in three years.The last time the nation had $35 billion external reserve was end of November 2014, when it dropped to $35.24 billion from $36.25 billion at end of October 2014. Indications to this emerge from the Central Bank of Nigeria (CBN) data […]
Oil prices hit their highest levels early on Monday as markets tightened, while Saudi Arabia’s crown prince cemented his power over the weekend through an anti-corruption crackdown that included high profile arrests. Brent futures, the international benchmark for oil prices, hit $62.44 per barrel early on Monday, their highest level for years now. U.S. West […]
More than 100 pupils from Nigeria’s six geo-political zones have been awarded full-board six-year secondary school scholarships by the Shell Nigeria Exploration and Production Company (SNEPCo) in the third set of the NNPC/SNEPCo National Cradle-to-Career (NC2C) programme designed to give top quality education to bright but indigent youths. The latest awards bring to 267 the […]
Energy company, Conoil Plc, has reported a N6.28bn growth in its turnover for the third quarter of 2017 to N70.23bn from N63.95bn in 2016. The company, in a statement, described the performance as defiance of the trend among major oil marketers for the financial year under review. Quoting analysts’ views, the oil major said its […]
Nigerian Breweries Plc has boosted the businesses of 32 entrepreneurs operating in Ekiti and Osun states with grants of N300,000 each. The brewer, in a statement on Friday, said it was driving the scheme through the Goldberg’s Isedowo empowerment initiative, which would also be extended to other South-West states. The initiative, which was recently launched […]
The Nigerian National Petroleum Corporation and its joint venture partner, Nigerian Agip Oil Company, on Friday announced their readiness to boost the country’s power generation by 480 megawatts through the completion of the Okpai Phase II independent power project by 2019. This was disclosed during the inauguration of the Okpai Phase II power project by […]
Diamond Bank Plc is set to sell its West African banking operations to Manzi Finances S.A., a Cote d’Ivoire-based financial services holding company, in order to focus on Nigeria’s significant retail banking opportunity. The bank said on Friday that it had agreed to sell its operations in Benin, Togo, Cote d’Ivoire and Senegal. According to […]
Former presidential aspirant, Mr. Donald Duke, has said that should the poor economic viability status of most states in the country persists, then the Lagos economy may no longer support the population growth in the state. Duke, who was governor of Cross River State between 1999 and 2007, blamed the development on most governors, who […]
The Federal Airports Authority of Nigeria (FAAN) has warned the general public not to patronise those people parading themselves as recruitment agents of the authority, and who use the opportunity to extort money from innocent and unsuspecting citizens. The warning was given in an online statement signed by the General Manager, Corporate Affairs,FAAN, Mrs Henrietta […]
Nigeria must use its oil wealth to prepare for a future when the world no longer runs on fossil fuels, Vice-President Yemi Osinbajo has said. Osinbajo said on Thursday that the country, a member of the Organisation of Petroleum Exporting Countries, needed to develop renewable energy and help other businesses flourish to “adjust to the […]