(AFRICAN EXAMINER) – The House of Representatives has asked Guaranty Trust Bank (GTB) to remit Value Added Tax (VAT) on the commission received from Remita between 2015 and 2022 to the Federal Government recovery account. The Chairman, Public Accounts Committee (PAC), of the lower chamber, Rep. Bamidele Salam (PDP- Osun), gave the directive on Thursday […]
(AFRICAN EXAMINER) – The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture (JV) partner, Chevron Nigeria Ltd. (CNL), have concluded the conversion of five of its JV assets into the Petroleum Industry Act (PIA) terms. The NNPC Ltd. said the development was in line with the PIA 2021 provisions of transiting assets […]
(AFRICAN EXAMINER) – Atiku Abubakar, former vice-president, has kicked against plans by the President Tinubu’s government to increase the value-added tax (VAT) from 7.5 percent to 10 percent. Atiku, taking to his social media accounts on Sunday described the move as a “regressive and punitive policy”. “President Bola Tinubu, alongside his coterie of advisers, has […]
(AFRICAN EXAMINER) – The Nigerian National Petroleum Company Limited (NNPCL) has denied undermining the recent launching and marketing of the petrol produced by the Dangote Refinery Limited (DRL) even as it said that the corporation is not the sole off taker in the industry. This is contained in a statement issued and signed by the […]
(AFRICAN EXAMINER) – The Bank of Industry (BOI) has received €1.425 billion from the senior phase of its global loan syndication- representing a 42.5 per cent oversubscription from international financial markets. BOI made this known in a statement, saying that this is the senior phase of another landmark transaction for the bank tapping the syndicated […]
(AFRICAN EXAMINER) – For the first time, Nigerians will gain a clear understanding of the country’s actual fuel consumption, according to Aliko Dangote, President of Dangote Group. This announcement comes as Dangote officially confirmed the rollout of Premium Motor Spirit (PMS), commonly known as petrol, from the world’s largest single-train refinery with a capacity of […]
(AFRICAN EXAMINER) – President Bola Tinubu has approved the appointment of chairman and members of the board of the Bank of Industry Limited. According to a statement issued on Monday by Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale, those appointed are: (1) Dr. Mansur Muhtar, OFR, — Chairman (2) Dr. […]
(AFRICAN EXAMINER) – Statistics released by the Central Bank of Nigeria (CBN) have revealed that Nigeria’s Letter of Credit payments dropped by 57 per cent in the first seven months of 2024. According to the CBN’s weekly International Payments Data published on its website, the country’s Letter of Credit payments dropped to $391.91m from $912.35m […]
(AFRICAN EXAMINER) – The rising inflation rate will force Nigerian households to spend the largest amounts of their earnings on food in the next six months, a recent survey by the Central Bank of Nigeria (CBN) has shown. This is as the most recent report by the National Bureau of Statistics (NBS) puts the inflation […]
(AFRICAN EXAMINER) – NNPC Ltd has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers. This financial strain has placed considerable pressure on the company and poses a threat to the sustainability of fuel supply. A statement issued by the company’s spokesperson, Femi Soneye stated that “ In line with […]
(AFRICAN EXAMINER) – The Nigerian Export Promotion Council (NEPC) says Nigeria’s non-oil export sector recorded impressive growth in the first half of 2024, generating 2.7 billion dollars in revenue. The Executive Director of NEPC, Nonye Ayeni, said this while presenting progress report on Nigeria’s non-oil export performance on Wednesday in Abuja. Ayeni said that the […]
By Temitope Ajayi (AFRICAN EXAMINER) – By his advanced age and eminent status as a former Vice President of Nigeria, Alhaji Atiku Abubakar is by no means qualified to be an elder statesman. Statesmen are highly venerated and revered people to whom we go for advice, guidance and direction. But sometimes, Alhaji Atiku Abubakar behaves […]
(AFRICAN EXAMINER) – The Manufacturers Association of Nigeria (MAN) is uncomfortable with the present interest rate on loans for its members and needs a further reduction to one per cent, an official has said. Chief Bioku Rahman, the outgoing Chairman of MAN in Kwara and Kogi, disclosed this in Ilorin on Tuesday while speaking during […]
(AFRICAN EXAMINER) – The Nigerian National Petroleum Company Limited (NNPC Ltd.) has begun shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on Delivered Ex-Ship (DES) basis. Mr Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., quoted Mr Segun Dapo, the Executive President, Downstream, NNPC Ltd., as saying this in a statement in […]
(AFRICAN EXAMINER) – The Enugu State Internal Revenue Service, ESIRS, has hinted that it’s application of disruptive innovation in tax collection has yielded tremendous dividends in the past one year, saying it generated N35.9 billion within seven months of 2024, as against 33.9 billion that the state collected in the whole of 2023. Recall that […]
(AFRICAN EXAMINER) – Oando Plc has completed the acquisition of Eni’s subsidiary, Nigerian Agip Oil Company (NAOC), for $783m. The company announced this on Thursday in a statement by its Chief Compliance Officer and Company Secretary, Ayotola Jagun. The deal sees Oando, which is listed on the Nigerian Exchange Limited and Johannesburg Stock Exchange, take […]
(AFRICAN EXAMINER) – The Nigerian National Petroleum Corporation Limited (NNPCL) has debunked the allegations by the former Vice President, Alhaji Atiku Abubakar, that President Bola Tinubu and his family members have infiltrated Company (NNPC). Atiku has questioned NNPC’s acquisition of OVH, alleging undue influence by Tinubu’s family and associates. The former Vice President further accused […]
…Targets 2mbpd Crude Oil Production by Dec 2024 (AFRICAN EXAMINER) – The NNPC Limited has released its 2023 Audited Financial Statement (AFS), declaring a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, an increase of over N700billion (28%) when compared to the 2022 profit of N2.548trillion. […]
(AFRICAN EXAMINER) – A payment processing platform, eTranzact, has emerged as Africa’s Most Innovative Payment Services Company of the Year 2024 at the African Brands Innovators Forum Adeyemi Opene, Head, Brand and Corporate Communications, eTranzact Plc, said this in a statement on Saturday in Lagos. Opene said that the award elevated the firm, which is […]
(AFRICAN EXAMINER) – Nigeria’s external reserves have declined by 0.68 per cent to $36.620bn as of August 12, 2024, from $36.872bn recorded on August 7, 2024, data from the Central Bank of Nigeria (CBN) indicated. The development comes after it increased to US$37.88bn as of July 15, 2024, from US$34.76bn as of June 2024 ending. […]
