The Nigerian National Petroleum Company Limited has set stringent financial requirements for companies vying to operate and maintain the Warri Refining and Petrochemical Company and Kaduna Refining and Petrochemical Company. In the Expression of Interest document released by NNPC on Saturday, only firms with a minimum average annual turnover of $2bn will qualify for the …read more →
Economy
NNPC Commences LNG Supply to Japan, China
The Nigerian National Petroleum Company Limited (NNPC Ltd) has commenced the shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on a Delivered Ex-Ship (DES) basis in line with its strategic vision to be a dynamic and reliable global energy supplier of choice. NNPC Ltd achieved the milestone through the collaboration of two …read more →
Nigeria Criminalizes Willful Damage of Critical Infrastructure
Nigeria’s Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, announced on Wednesday the release of an official gazette titled “Designation and Protection of Critical National Information Infrastructure Order, 2024,” aimed at safeguarding the country’s key technological assets. Tijani, in a statement on his X platform, expressed gratitude to President Bola Ahmed Tinubu for approving …read more →
Africa’s Top Investment Destinations by RMB Report
RMB has released the highly anticipated 2024 edition of its Where to Invest in Africa report, a comprehensive analysis of the top investment destinations on the continent. The report, which has been developed in collaboration with the Gordon Institute of Business Science (GIBS), leverages a robust methodology that has been updated to reflect new data sources, taking …read more →
Access Bank Raises N442 Billion Capital through Syndicated Tier II Facility
In a significant stride towards fostering economic growth, Access Bank PLC, sub-Saharan Africa’s largest bank by customer base, has celebrated a landmark moment in its partnership with the Dutch Entrepreneurial Development Bank (FMO). The occasion marked the signing of a monumental syndicate Tier II Facility agreement of USD295 million (equivalent of about N442,500,000,000), underscoring a …read more →
FG Creates Livestock Development Ministry
Amid the lingering crisis between farmers and herders across the country, President Bola Tinubu has announced the creation of a Federal Minister of Livestock Development. Tinubu inaugurated the Renewed Hope Livestock Reforms Implementation Committee at the State House, Abuja, on Tuesday, 9 July, 2024. Recall that on September 14, 2023, the National Livestock Reforms Committee …read more →
FG Cancels Import Duties on Food for 5 Months
The Federal Government, on Monday, announced a 150-day duty-free import window for food commodities as it stepped up efforts to tackle rising inflation which had impoverished many Nigerians. The government also expressed its decision to collaborate with states to expand land cultivation across the country. Consequently, the government suspended duties, tariffs and taxes for the …read more →
Nigeria’s Debt-to-GDP Within World Bank/IMF Ceiling, Says DMO
The Debt Management Office (DMO), says Nigeria’s debt-to- Gross Domestic Product (GDP) – debt-to-GDP- ratio is within the specifications of the World Bank and International Monetary Fund (IMF) for the country’s peer group. The Director-General of the DMO, Patience Oniha, said this in an interview on Tuesday in Abuja. Oniha was reacting to some media …read more →
World Bank appoints Ndiamé Diop as Country Director for Nigeria
The World Bank has appointed Dr Ndiamé Diop as the new Country Director for Nigeria, a statement by the Bank has said. In a statement, the Bank revealed that Diop assumed his new position in Abuja on Monday and succeeded Shubham Chaudhuri, who completed his term in the same capacity. It said in his new position, …read more →
Gov Oyebanji Inaugurates A-Bamisil Palm kernel Crushing Plant in Ekiti
Governor Biodun Oyebanji of Ekiti on Friday, inaugurated A-Bamisil, a privately owned 200 metric tons per day capacity palm kernel oil (PKO) crushing plant to reduce unemployment, hunger and poverty in the state. Oyebanji, while inaugurating the A-Bamisil Palm kernel Crushing Plant located along Ijan road in Ado-Ekiti, promised that his administration would play a …read more →