Oil prices shot up nearly three percent Monday as more companies suspended shipping through the Red Sea following attacks on vessels by Yemen’s Iran-backed Huthi rebels. Meanwhile US stocks sought to continue last week’s rally on expectations that the US Federal Reserve will cut interest rates next year, although it appears to have lost […]
The Nigerian National Petroleum Company Limited, on Monday, expressed plans to produce two million barrels of crude oil per day in 2024. It said this would significantly boost the 1.67 million barrels of oil and condensates currently produced daily and enable Nigeria to meet the two million bpd target set by the Organisation of […]
Air Peace has provided clarifications on the dynamics of air fares, dismissing claims in some quarters that the airline was extorting South-Easterners with air fares. This is coming against the backdrop of reports of high fares ahead of the yuletide festivities. This has triggered attacks on social media with netizens accusing the carrier and […]
The end of December timeline for mechanical completion of the Port Harcourt Refinery Company (PHRC) remains sacrosanct, says the Nigerian National Petroleum Company Limited (NNPCL). “We have said from time that by the end of December, the mechanical completion of the refinery will be completed. Yes, we are still maintaining that. Nothing has changed,” […]
The successful transition of the Nigerian National Petroleum Corporation (NNPC) to a commercially driven national energy company, the Nigerian National Petroleum Company Limited (NNPCL) has repositioned the company to the extent of delivering N4.5tr in 10 months, the Group Managing Director, Mallam Mele Kyari, has indicated. Speaking, yesterday, when he appeared before the Senate […]
The Central Bank of Nigeria (CBN) has again reassured members of the public that it is addressing the reported cases of cash scarcity in some major cities across the country. It attributed the current situation to the hoarding of the Naira by some persons due to challenges experienced during the naira redesign project. The […]
Festus Keyamo, minister of aviation and aerospace, says airlines will begin to compensate passengers for delayed or cancelled flights by January 2024. The minister spoke on Tuesday when he appeared before the national assembly joint committee on aviation to defend his ministry’s budget for the 2024 fiscal year. According to Keyamo, aviation regulators will […]
Heineken Lokpobiri, minister of state petroleum resources (oil), says Nigeria will achieve its 2024 crude oil production benchmark of 1.78 million barrels per day (bpd). Lokpobiri said the federal government is making efforts to remove all bottlenecks that will limit the country from meeting and surpassing the projection. According to a statement on Tuesday […]
The Corporate Affairs Commission is set to delist 91,843 companies for failing to file their annual returns with it. In a list published on its website, the commission listed 91,843 companies for delisting (2,738 less than the 94,581 it initially published in August). This is still less than the initial 100,000 companies that CAC […]
The Central Bank of Nigeria has suspended the processing fees on large cash deposits, a release by the Acting Director of Supervision, Dr Adetona Adedeji, on Monday revealed. The new development under the “Guide to Charges by Banks, Other Financial Institutions, and Non-Bank Financial Institutions” issued on December 20, 2019, with reference number (FPR/DIR/GEN/CIR/07/042), […]
