The Nigerian National Petroleum Corporation (NNPC) said from January 2016 till date, government lost 7 billion dollars (N2.1 trillion) to the activities of militancy groups and oil pipeline vandals in the Niger Delta region. The Group Managing Director of NNPC, Dr Maikanti Baru, said this on Friday in Abuja at the 2016 Fiscal Liquidity Assessment […]
Continue ReadingThe President of the Federal Republic of Nigeria, Muhammadu Buhari has stated that the practical way out of the economic challenge being experienced in the country lies in monies made from the country’s oil and gas sector. The president who spoke at the launch of the ministry of petroleum #7BigWins initiative in Abuja on Thursday, […]
Continue ReadingThe Nigerian Ports Authority, has revealed that thirty three ships laden with petroleum products, food items and other goods are expected to arrive Apapa and Tin-Can Island ports in Lagos from Oct. 25 to Nov. 31. The Nigerian Ports Authority (NPA) stated this in its publication – `Shipping Position’. NPA said that the expected ships […]
Continue ReadingSpeaking at the Le Club de l’Economie in Paris France on Monday, Tony O. Elumelu, Chairman of UBA Plc and Founder of the Tony Elumelu Foundation, made a call to the French business community, global stakeholders and influential Africans in the development world to embrace ‘structured philanthropy’ in support of rising entrepreneurs with great potential, as a means to achieving sustainable development in Africa. […]
Continue ReadingThe Debt Management Office (DMO) has advised the Federal Government not to borrow above 22.08 billion dollars in 2017. DMO gave the recommendation on Tuesday in its 2016 Debt Sustainability Analysis (DSA) report, obtained by the News Agency of Nigeria (NAN) in Lagos. In the report, DMO stated that the end-period on Net Present Value […]
Continue ReadingUnited Bank for Africa has continued to receive accolades and global recognition for its commitment to the use of cutting-edge technology to provide simple and convenient banking solutions and services to its customers. The pan African banking Group was adjudged winner in two categories at the recently concluded Finacle Client Innovation Awards 2016, organised in India by Infosys […]
Continue ReadingMEC, Inc. announced today it has entered into agreements with pan-African financial services group, United Bank for Africa (“UBA”) Plc to provide a revolutionary email-based billing, payment and banking software system called “EmailMoni.” EmailMoni represents the world’s latest fin-tech for cloud banking and social payments, and is expected to transform the payments, invoicing/billing and remittances landscape in […]
Continue ReadingThe Federal Executive Council (FEC) on Wednesday approved N30 billion Intervention Fund for the nation’s mining sector.The Minister of Mines and Steel Development, Dr Kayode Fayemi, who made this known at the end of the FEC meeting in Abuja, said the fund would come from 1.68 per cent of the Federation Account. He said that […]
Continue ReadingThe Nigerian currency, the Naira is inching towards the N280 to the dollar opening rate at the Financial Markets Dealers Qoute (FMDQ).The naira on Wednesday closed at N304.75 to the dollar at the official interbank market from N305 recorded on Tuesday. At the Bureau De Change (BDC) window, the naira exchanged at N385 to the dollar, […]
Continue ReadingThe World Bank says the worth of its projects in the agriculture sector in Nigeria is 1.5 billion dollars.The Senior Chief Agric. Economist of the organisation, Dr Adetunji Oredipe, made this known to newsmen at a live Video Conference to celebrate “End Poverty Day.’’ He said that in Africa, the bank’s strategy to ending extreme […]
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