The National Bureau of Statistics (NBS), said the aggregate Value Added Tax (VAT) stood at N948.07 billion in Q3 2023. This is according to the VAT Q3 2023 Report released in Abuja on Monday. The report shows a growth rate of 21.34 per cent on a quarter-on-quarter basis from N781.35 billion in Q2 2023. […]
Socio-Economic Rights and Accountability Project (SERAP) has urged the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, to “promptly publish details of barrels of oil Nigeria produces and exports every day and the total amounts of revenues generated from oil since the removal of subsidy on petrol in […]
Days after disclosing a $72 million deficit in its third-quarter financial report, the broadcasting business Multichoice increased the cost of its products in Nigeria. A 20% increase in the company’s packages overall was discovered through an examination of the new price list. The DStv Premium bundle had a 20.4 percent price increase, going from […]
The Nigerian Breweries Pic has announced the resignation of Asue Ighodalo as the chairman of its board of directors. In a corporate filing on the Nigerian Exchange Limited (NGX), on Friday, Uaboi Agbebaku, the company secretary, also said there were changes in its board of directors after the board meeting on December 7, 2023. […]
Oil giant Shell sees $6 billion in investment opportunities in Nigeria, especially in offshore, gas and liquefied natural gas (LNG) projects, the country’s presidency said in a statement on Friday. Nigeria, the continent’s top economy and major oil producer, is seeking to attract more foreign investment since President Bola Ahmed Tinubu came to office […]
Nigerian National Petroleum Company Limited is to alter how its crude cargoes are priced from next month; a step that traders said may make handling the nation’s barrels more risky. According to a company circular seen by Bloomberg News, NNPC will start pricing its supplies against the monthly average of Dated Brent, the physical-crude […]
Procter & Gamble (P&G), an American multinational consumer goods, says it has plans to transition from local production to solely importing its products as the firm winds down its on-ground presence in Nigeria. Andre Schulten, chief financial officer, P&G, disclosed this on Tuesday, during his presentation at the Morgan Stanley global consumer & retail […]
Nigeria’s Naira strengthened to N806. 73 to the dollar at the official foreign exchange (FX) market on Tuesday, as against N837.77 to the greenback which it closed at, on Monday. Dealers said the local currency’s appreciation followed a moderation in dollar demand at the official foreign exchange market. At the close of trading on […]
The federal government says Baker Hughes, a global oilfield services company, has announced its willingness to invest in Nigerian refineries. Lorenzo Simonelli, the chairman and president of Baker Hughes, made this known during an engagement with Heineken Lokpobiri, minister of state for petroleum resources (oil), on the sidelines of 28th United Nations Climate Change […]
Nigeria, a member of the Organisation of Petroleum Exporting Countries, and its allies, known as OPEC+, is unlikely to reach its oil production target in 2024 after years of declining output, Reuters is reporting. Reuters quoted figures from two of three consultancy firms — IHS, Rystad Energy, and Wood Mackenzie — which the oil […]
