The Minister of Petroleum Resources (State), Timipre Sylva has said Nigeria is currently producing about 1.3million barrels of crude oil per day. The minister, who was represented by a Permanent Secretary of the ministry, Nasiru Gwazo, disclosed this during an address he presented at the just-concluded 2021 convocation ceremony of the Petroleum Training Institute, Effurun,…
The holding company of First Bank of Nigeria, FBN Holdings Plc, has said it has not received any notification of acquisition from the former CEO of Forte Oil, Femi Otedola. In a statement sent to the Nigerian Exchange Limited, the Company Secretary, Seyi Kosoko, responded to the reports that Otedola had allegedly acquired 5 per…
The President, Major General Muhammadu Buhari (retd.), will formally unveil the Nigerian Central Bank Digital Currency, known as the eNaira, on Monday, at the State House, Abuja. The Director, Corporate Communications, CBN, Osita Nwanisobi, said this in a statement on Saturday titled ‘President Buhari to unveil eNaira on Monday, 25 October 2021.’ It stated that…
The Agence Francaise de Developpement (AFD) has staked a total of 70 million U.S dollars to fund renewable energy and efficient energy projects in Nigeria. Mr Chukwudumije Igwe, Member, Project and Structured Finance, Sub Sahara Africa, Access Bank, said this at the second edition of Sustainable Use of Natural Resources and Energy Finance (SUNREF) Nigeria programme…
PayPal Holdings Inc has offered to buy digital pinboard site Pinterest Inc for $45bn, people familiar with the matter said, a combination that could herald more tie-ups between financial technology and social media companies in e-commerce. The deal talks revealed on Wednesday come as internet shoppers increasingly buy items they see on social media, often…
Sterling Bank Plc has blazed the trail as the first African corporate organisation to power its headquarters with the Building Integrated Photovoltaic (BIPV) energy technology as its primary source of energy. Group Head, Energy, Sterling Bank, Dele Fasemo who disclosed this in a statement issued by the bank recently, said the major milestone is a…
Fidelity Bank Plc has said it is considering raising $500m from the international debt capital market through the issuance of unsecured notes. A statement by its Company Secretary, Ezinwa Unuigboje, said the company intended to list the notes on the Irish Stock Exchange, adding that the proceeds would be used for general corporate purposes, including…
The Nigerian National Petroleum Corporation has said it spent a total of N32.56bn on pipeline security and maintenance from February to July this year. The NNPC spent N5.81bn on pipeline security and management in February; N5.32bn in March; N2.64bn in April; N5.26bn in May; N6.17bn in June, and N7.35bn in July. A total of 261…
Trust Africa News, By Ayomide Otitoju Oyo State Governor, ‘Seyi Makinde, on Tuesday, said that his government will access 1.68 per cent Development of Natural Resources Fund (DNRF), with the aim of revamping, revitalizing and repositioning the state’s economy. He added that it would help his administration to do more in developing the state. A…
