Duty By Emmanuella Anokam The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the proposed implementation of the 15 per cent of valorem import duty on imported Premium Motor Spirit (PMS) and Diesel is no longer in view. The NMDPRA disclosed in a statement posted on its X handleContinue Reading
Agreement By Constance Athekame The Federal Government and Quaint Energy have signed a concession agreement for the development of 6 Megawatts (MW) Ikere Gorge Hydropower Project in Oyo State. The agreement also included the 2MW Omi-Kampe Hydropower Project in Kogi. Speaking at the signing in Abuja, the Minister of Power,Continue Reading
By Emmanuella Anokam The Nigerian National Petroleum Company Limited (NNPC Ltd.), says Nigeria remains on track to grow crude oil production to two million barrels per day (bpd) by 2027 and three million bpd by 2030. Mr Udy Ntia, Executive Vice President, Upstream, NNPC Ltd., made this known on MondayContinue Reading
By Vivian Ihechu Dr George Elombi, the new President of the African Export-Import Bank (Afreximbank), has unveiled a five-year strategy to transform Africa’s trade structure and deepen integration. He unveiled the plan during his investiture as Afreximbank’s fourth president at the Legacy Conference and Investiture in Cairo, Egypt,Continue Reading
By Vivian Ihechu Dr George Elombi, Executive Vice-President (EVP) of Afreximbank, has highlighted the blueprint behind Prof. Benedict Oramah’s decade-long success, which saw the bank’s assets multiply from a mere US$6 billion in 2015 to over US$40 billion. Speaking at a Farewell Conference in honour of departing President OramahContinue Reading
By Adebola Adegoke Mantrac Nigeria, the sole authorised Caterpillar equipment representative in the country, has reaffirmed commitment to Nigeria’s industrial and infrastructure growth with its new digital service centre. The digital centre monitors equipment performance remotely, conducts virtual inspections, and proactively responds to faults or irregularities beforeContinue Reading
By Esenvosa Izah A group of businessmen and entrepreneurs have stressed the role of everyone, particularly youths, in reshaping Nigeria’s narrative toward growth and development. They spoke at the New Generation Chapter (NGC) Summit with the theme ‘Nigeria: Build, Navigate andContinue Reading
By Taiye Olayemi Champion Breweries Plc says it plans to embark on a three-phase capital raise plan to boost expansion and drive profitability. Its Managing Director, Dr Inalegwu Adoga, made the disclosure on Monday in Lagos during the company’s “Fact Behind the Figures’’ presentation at the Nigerian ExchangeContinue Reading
Turnaround By Emmanuella Anokam The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the country’s upstream oil sector is experiencing a significant turnaround. It said Crude oil losses from theft and metering issues had fallen to their lowest levels in nearly 16 years. According to the Commission, daily losses in JulyContinue Reading
By Taiye Olayemi The Central Securities Clearing System (CSCS) on Wednesday sensitised capital market stakeholders on the smooth transition to a T+2 settlement cycle ahead of its Nov. 28 launch. The webinar brought together capital market operators, regulators, and the Nigerian Exchange Ltd., providing updates, guidance, and clarity on theContinue Reading
