Sunday, February 28, 2021
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Business

FG urges IOCs to embark on new oil projects

International Oil Companies operating in the country have been urged to embark on new projects despite the delay in the passage of the Petroleum Industry Bill. The Nigerian Content Development and Monitoring Board, an agency in the Federal Ministry of...

Olam, BAT, others realized $100m from exports – CBN

The Central Bank of Nigeria has revealed that 1o  exporters in the country exported non-oil goods worth $100.88m in November, 2020. The financial body made this disclosure in its latest monthly economic report. The statement reads; “Estimates of export proceeds of...

#EndSARS protests delayed reopening of Third Mainland Bridge – FG

The Federal Government has announced that the recent #EndSARS protest that took place on October 2020 is the major reason the Third Mainland Bridge will not be opened on Monday as initially scheduled. The announcement was made by the Federal...

Cryptocurrencies are unsafe, prone to financial crimes – CBN

The Central Bank of Nigeria (CBN) has cleared the air on it directive to Deposit Money Banks (DMBs) to desist from cryptocurrencies transactions, the apex bank revealed that the directive was given to ensure accountability. The above statement was further explained...

Petrol price may hit N190 as oil nears $60 – Marketers 

Marketers have disclosed that the price of Premium Motor Spirit (petrol) will be between N185 and N200 per litre, except the government makes provision for subsidy. The above information was disclosed following the increase in global oil prices last week,...

Nigeria loses $43b to oil theft – NEITI

The Department of Petroleum Resources (DPR) has revealed that the incessant crude oil loss in the country has been linked to land terminals, said oil theft across offshore terminals are nearly impossible. According to the Nigeria Extractive Industries Transparency Initiative (NEITI),...

Third Mainland Bridge reopens to vehicular movement

The Third Mainland Bridge has been reopened to vehicular movement on Sunday night. Th bridge was reopened following the completion of the casting of the expansion joints a day earlier than promised, according to a statement on Sunday from the Lagos...

FG has paid road construction debts to states – Fashola

Federal Government has paid all monies spent by state governments for the reconstruction and rehabilitation of federal roads in their domains, the Minister of Works and Housing, Babatunde Fashola, has stated. Fashola also disclosed that construction and rehabilitation works were...

Pipeline vandalism gulps N49.68bn in 10 months – NNPC

The Nigerian National Petroleum Corporation has identified pipeline vandalism as one of the major challenges bedeviling the sector, stressing that it has spent almost N50bn to repair and manage pipelines in 10 months. The NNPC’s latest monthly report revealed that...

Naira may weaken to 470 in 2021 – Expert Warns 

There is high tendency that naira will be weakened in the parallel market and likely depreciate to 470 against the dollar in 2021, if oil prices stay at $50 per barrel, Nigerian economist, Mr Bismarck Rewane, has hinted. Bismarck made...

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NPA spent N807m to rehabilitate building burnt during #EndSARS protest –...

The Nigerian Ports Authority (NPA) Managing Director, Hadiza Usman, has said N807 million was spent to rehabilitate aspects of the agency’s building set on...

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