The Federation Accounts Allocation Commission (FAAC) is saddled with the responsibility of sharing Nigeria’s revenue amongst the tiers of government, using a sharing formula that has been agreed on by stakeholders. Even with the agreement reached...
Long before the local content law was enacted, Kaztec Engineering Ltd., an indigenous company specialising in providing engineering, procurement and construction services to oil and gas companies, opened shop in Nigeria. Seven years down the road, its ...
Mr. Tope Fasua, is a London trained Economist with 15years of Banking experience.He now runs a conglomerate of Business Consultancy firms Global Analytics’ with operational bases in Nigeria, UK, United Arab Emirates and Ghana. In this interview w...
Arik Air said it was temporarily suspending all flight operations between Lagos, Nigeria and Johannesburg, South Africa with immediate effect. The decision to suspend the daily B737-800 service between the two financial hubs was taken due to the ongoin...
Nigeria’s naira weakened against the dollar, heading for a second straight weekly decline, as foreign-exchange sales by the oil industry slowed after the month end. The currency of Africa’s biggest oil producer depreciated 0.1 percent to 15...
Malam Sanusi Lamido Sanusi, the Central Bank Governor (CBN), says the apex bank is planning to compel banks to open special branches for persons with disabilities nationwide. The CBN governor made this known on Thursday, in Abuja, when the Joint ...
The value of shares traded on the Nigerian Stock Exchange (NSE) on Thursday rose by 46 per cent as the market indices also improved by 0.35 per cent. The News Agency of Nigeria (NAN) reports that investors staked N3.8 billion on 556.22 million shares e...
A retreat in expectations for further monetary easing in Europe and the United States sent stock markets lower on Thursday. Meanwhile, the euro neared a one-week low ahead of a Spanish bond auction and the latest summit of EU leaders. China...
The Director of Energy, Markets and Security, International Energy Agency (IEA), Didier Houssin, has said Nigeria would be among the oil exporting nations that would help to cushion the adverse effect of losses in the international oil market due...
Chevron said it has reduced the gas inferno in the Niger Delta region to a considerable level and that the fire would be extinguished in two weeks time. According to the company, it will achieve this in record time by channeling the burning gas i...
Despite being blessed with abundant human and natural resources, which are the basic ingredients for a prosperous nation, Nigeria, regrettably, suffers from resource curse. Industry chiefs, at the recently concluded 2012 Nigeria Oil and Gas (NOG) confe...
Although everything appears to be going on well in the Nigerian power sector, economic and business permutations left open to the country on stable power supply suggest otherwise given the realities on ground. Ever since the launching of th...
Ever since oil was discovered in Nigeria in 1908 and its sudsequent exploration, it has taken a broad view, determined to play an important role in the oil industry, not just within the sub-region but globally. Overtime, oil money quickly became almost...
The National Inland Waterways Authority (NIWA), recently came under criticisms from anxious riverine stakeholders over the handling of its mandate to dredge and construct ports along the River Niger. Correspondents NUHA YARWA and PEMBI STEPHEN &n...
The Managing Director of the Pipeline and Products Marketing Company (PPMC), Mr. Haruna Momoh, has said that all issues that led to the initial hitch in the petrol supply chain have been resolved. This is as he allayed fears of fuel scarcity, assuring ...