The Nigerian National Petroleum Company Limited (NNPCL) sold crude oil valued at N26.496 trillion but only remitted N13.226 trillion into the federation’s account, a report by the Federation Account Allocation Committee (FAAC) has alleged. Understanding The Benefits Of Smart Beds. See Their Price Range. Smart Beds In Mexico | Search Ads | SponsoredUnderstanding The […]
Ethiopian Airlines has finally broken its silence over its involvement in the controversial Nigeria Air project launched by the last administration of President Muhammadu Buhari. The largest airline in Africa through its Group Chief Executive Officer, Mr. Mesfin Tasew disclosed that the airline was almost withdrawing from the deal but it was prevailed upon […]
The naira has maintained its downward trend as scarcity of the dollar bites harder, findings by The PUNCH have revealed. At the parallel market, naira commenced trading at 1,175/$ and closed at 1,190/$ on Friday. Two weeks earlier, the naira had traded at 1,100/$ at the parallel market. It, however, appreciated slightly on the […]
Amid the ongoing crisis regarding the availability of fuel across the country, the pump price of Premium Motor Spirit (PMS) now stands at approximately N625 to N630 per litre, TribuneOnline reports. Oil marketers continue to voice concerns about the mass shutdown of filling stations and the inability to transport petroleum tankers due to the […]
The Nigerian National Petroleum Company (NNPC) Limited says it has noted the appearance of fuel queues in some parts of Lagos and a few other locations around the country. The retail management of the NNPC in a statement on Thursday, said the queues are due to reduced Depot loadout in Apapa, Lagos over a […]
Despite dismal electricity supply averaging a daily load offtake of 3,200 megawatts, the Federal Government and end users, in the first six months of 2023, spent about N686.18 billion on subsidy or bill payment. Given indications that electricity subsidy, which is increasing by N135 billion, quarterly, could push the 2023 total to N441 billion, […]
Finnish telecom gear group, Nokia, on Thursday, said it would cut up to 14,000 jobs as part of a cost reduction plan following a plunge in third-quarter earnings. The Finnish telecommunications giant said that it will reduce its cost base and increase operation efficiency to “address the challenging market environment.” It said the layoffs […]
The Central Bank of Nigeria (CBN) has stated that the restriction on forex for 43 import items led importers to resort to the parallel market, contributing to a surplus demand for forex and consequently weakening the parallel-market exchange rate, resulting in price increases. In a statement released over the weekend explaining the reasons for […]
The DMO is dedicated to meeting investors’ needs while also promoting the growth of the domestic capital market. True to government prediction, the N150 billion Sukuk bond offer has been over-subscribed to the tune of N652.827 billion. A statement from the Debt Management Office (DMO) said the bond was over-subscribed by 435% of the […]
Some Air Peace passengers at the Murtala Muhammed International Airport, Lagos, lost their cool on Friday morning and angrily demanded a refund of their airfare after their flight was delayed for several hours. The flight P47140 from Lagos to Uyo, Akwa Ibom State, was initially scheduled to depart Lagos by 7 a.m. but was […]
