(AFRICAN EXAMINER) – President Bola Tinubu has approved the appointment of Mr Olatunji Bello as the new Chief Executive Officer/Executive Vice-Chairman of the Federal Competition and Consumer Protection Commission (FCCPC), pending confirmation by the Senate. The appointment was announced in a statement on Monday by Chief Ajuri Ngelale, Special Adviser to the President, Media and […]
(AFRICAN EXAMINER) – In yet another major step towards boosting nationwide gas supply to drive industrialization and economic growth, the Nigerian National Petroleum Company Limited (NNPC Ltd) is set to deliver the Obiafu-Obrikom-Oben (OB3) Gas Pipeline project. Group Chief Executive Officer of NNPC Ltd, Mr. Mele Kyari, confirmed this during an inspection tour of the […]
(AFRICAN EXAMINER) – Shell Petroleum Development Company of Nigeria Limited (SPDC) has reaffirmed its unwavering commitment to supporting the socio-economic development of Nigeria, especially in its areas of operations in the Niger Delta. SPDC Director and Head of Corporate Relations, Igo Weli, made the statement in Port Harcourt on Friday at a dinner to celebrate […]
(AFRICAN EXAMINER) – Nigeria’s total public debt is now ₦121.67 trillion ($91.46 billion), the Debt Management Office (DMO) said Thursday. The DMO said as of March 31, 2024, the country’s domestic and external debts stood at ₦121.67 trillion ($91.46 billion). Nigeria’s debt rose by ₦24.33 trillion within three months – from ₦97.34 trillion ($108.23 billion) […]
(AFRICAN EXAMINER) – Nigeria’s inflation rate increased to 33.95 per cent in May 2024, the National Bureau of Statistics disclosed in its latest data. This represents an increase of 0.26% points when compared to the April 2024 headline inflation rate, according to the NBS Consumer Price Index report released on Saturday. The data revealed that […]
(AFRICAN EXAMINER) – In order for the oil and gas industry to achieve its full potential as an enabler of national economic and industrial growth, the Group Chief Executive Officer of the NNPC Limited, Mr. Mele Kyari, has called for the support of the judiciary in tackling the twin challenges of crude oil theft and […]
(AFRICAN EXAMINER) – The global economy is expected to stabilise for the first time in three years in 2024 but at a level that is weak by recent historical standards, says the World Bank. This is contained in a statement issued by the bank’s online media briefing centre on the World Bank’s latest Global Economic […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has again reassured the banking public of the safety of their deposits and the banking system’s resilience. The apex bank’s Acting Director of Corporate Communications Department, Mrs Hakama Sidi-Ali, gave the assurance in a statement on Monday in Abuja. Sidi-Ali’s statement was a response to concern […]
(AFRICAN EXAMINER) – Newly released data by the Nigerian Bureau of Statistics (NBS), has revealed that exports of agricultural goods from Nigeria to other countries, increased by 123 per cent over the value recorded in the fourth quarter of 2023 (₦463.97bn), and also by 270 per cent when compared to the value recorded in Q1, […]
(AFRICAN EXAMINER) – The Senate leadership has described the 650,000bpd Dangote Petroleum Refinery as the 9th wonder of the world but came hard on those who are skeptical of the completion of Dangote Petroleum Refinery describing them as dream killers. Indeed, the Senate President, Godswill Akpabio, who led the leadership of the 10th Senate on […]
(AFRICAN EXAMINER) – The Nigeria Deposit Insurance Corporation (NDIC) has announced plans to pay 2.3 million depositors of Heritage Bank approximately N650 billion starting this week. This move follows the recent withdrawal of Heritage Bank’s operating licence by the Central Bank of Nigeria (CBN) NDIC Managing Director Mr. Bello Hassan made this announcement during a […]
…Targets 5% Increase in Market Share through EPC Projects (AFRICAN EXAMINER) – The NNPC Engineering and Technical Company (NETCO), a subsidiary of the Nigerian National Petroleum Company Limited (NNPC Ltd), has announced a 137 per cent increase in operating profits for the year 2023. This was disclosed by the Chairman of the company’s Board of […]
(AFRICAN EXAMINER) – The Shell Petroleum Development Company of Nigeria Limited, (SPDC,) and its Partner spent more on Social Investments in 2023 with a total of $42.2 million. This was contained in a press statement signed by Communications, Media and NGO Relations Manager of Shell, Bamidele Odugbesan. According to the press release, Shell and it’s […]
(AFRICAN EXAMINER) – Nigeria’s current account balance has experienced a surplus of $1.432bn in 2024, according to a report by the International Monetary Fund (IMF). The report, ‘World Economic Outlook Database’ seen by Channels Television on Wednesday, noted that the increase in the Federal Government’s account for the period, was an improvement from the $1.21bn […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) says there are no plans to withdraw the licenses of three banks. A press statement by the banks Acting Director of Corporate Communications, Haka Sidi-Ali, said, “The attention of the Central Bank of Nigeria (CBN) has been drawn to some information circulating in the public domain, […]
(AFRICAN EXAMINER) – Zenith Bank Plc has been named the “Most Sustainable Bank, Nigeria” in the International Banker 2024 Banking Awards, retaining the title for the second consecutive year. Commenting on the award, the Group Managing Director/Chief Executive Officer of Zenith Bank, Dame (Dr.) Adaora Umeoji, OON, said: “We are deeply honoured to be recognised […]
(AFRICAN EXAMINER) – In its continued efforts to provide alternative source of fuel for Nigerians and lessen the impact of subsidy removal on petrol, the Federal Government has commissioned a 5.2 million standard cubic feet per day (mmscfd) Compressed Natural Gas (CNG) plant in Lagos. Minister of State for Petroleum Resources (Gas) Rt. Hon. Ekperikpe […]
(AFRICAN EXAMINER) – The Minister of Agriculture and Food Security, Abubakar Kyari, says the scarcity of tomatoes being experienced in parts of Nigeria is caused by “severe infestation known as Tomato Ebola or Tomato Leaf Miner”. Many households reportedly resorted to tomato pastes and other alternatives as the price of fresh tomatoes skyrockets. In a […]
(AFRICAN EXAMINER) – Trading at the Nigerian stock market started the week on a positive note, as all performance indices rose by 0.26 per cent. Specifically, market capitalisation increased by N141 billion or 0.26 per cent to close at N55.359 trillion, as against N55.218 trillion posted previously. Consequently, the All-Share Index which opened at 97,612.51, […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has issued its approved guidelines to regulate the activities of Bureau de Change (BDC) operators in the country. In its new circular released on Wednesday, the minimum capital base for Tier-1 BDCs is N2bn while that of Tier-1 is set at N500m. Also, the mandatory caution […]
