About five years after it went moribund, the Nigerian National Petroleum Company (NNPC) Ltd has announced the successful re-streaming of the Port Harcourt Refining Company (PHRC). This was disclosed in a statement by the Chief Corporate Communications Officer NNPC Ltd.,Olufemi Soneye, on the company’s official X handle. Soneye explained this achievement, marked by the commencement…
The capacity of Nigeria’s manufacturing sector to create jobs has continued on the decelerating pace with only 2,606 jobs created in the first half of 2024 (H1 2024), a 29.99 per cent reduction from H2 2023,according to the Manufacturers Association of Nigeria (MAN). MAN’s ‘Executive Summary’ of finding of the manufacturing sector’s survey for H1…
The Nigerian National Petroleum Company Limited (NNPCL) has said there is no disparity between its crude oil production figure and that of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).Chief Corporate Communications Officer at the state-run but “oil behemoth” Mr. Olufemi Soneye, in a statement on Monday, explained: “The NNPC Ltd has clarified that there is…
The Central Bank of Nigeria (CBN) will be extending the recapitalisation deadline for Bureau De Change (BDC) operators from December 3, 2024 to June 3, 2025. The Association of Bureaux De Change of Nigeria (ABCON) President, Alhaji Aminu Gwadabe, disclosed this yesterday during an emergency virtual general meeting organised by group for its members. He…
The naira crashed against the dollar at both official and parallel foreign exchange markets to begin the week on a negative note. FMDQ data showed that the naira weakened to N1,675.62 per dollar on Monday from N1652.62 last Friday, indicating a N23 loss. Similarly, at the black market, the naira depreciated to N1,755 per dollar…
Nigeria’s Oil and Gas Free Zones Authority has granted a Free Zone Enterprise Licence to Portland Gas Limited to establish a state-of-the-art Compressed Natural Gas (CNG) conversion and refilling center in the Onne Free Trade Zone, Port Harcourt, a move that will help to accelerate the country’s transition to cleaner energy. A statement explained that…
The Centre for Infrastructural and Technological Advancement for the Blind (CITAB) has accused Nigerian banks of perpetrating discriminatory practices against visually impaired persons in the country. Its Executive Director, Jolomi Fenemigho, in a statement in Lagos, urged the Central Bank of Nigeria (CBN) and the National Commission for Persons with Disabilities (NCPWD) to urgently address…
Vice President Sen Kashim Shettima, at the weekend in Lagos said President Bola Tinubu remained laser-focused on building a resilient economy and ensuring sustainable economic development for the general wellbeing of the citizens and the future of the country. The VP spoke when he officially declared open the Commercial and Industrial Trade Fair Fair 2024…
Vice-President Kashim Shettima has said Federal Government’s ongoing efforts to strengthen the country’s trade sector is showing promising results, as Nigeria recorded N6.5 trillion trade balance in second quarter of 2024. Shettima, represented by the Secretary to the Government of the Federation (SGF), George Akume, who spoke at the third National Conference on Non-oil Export…
