…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. […]
(AFRICAN EXAMINER) – The management of the Dangote Refinery has dismissed reports of a fixed petrol price of ₦600/litre, calling them “speculative announcements” with no basis. This was contained in a statement signed on Tuesday by the Group Chief Branding and Communications Officer, Dangote Industries Limited, Anthony Chiejina. The denial comes following reports by some […]
(AFRICAN EXAMINER) – The Nigeria Deposit Insurance Corporation (NDIC) says 82.36% of the total insured depositors of the defunct Heritage Bank have been reimbursed since the revocation of the bank’s licence by the Central Bank of Nigeria (CBN) on June 3, 2024. In a statement on Sunday, a spokesman for the appointed liquidator NDIC, Bashir […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN), has offered 876 million dollars to the foreign exchange (fx) markets to fulfil bids submitted by customers at an auction concluded on Wednesday. This is contained in a statement issued by CBN’s Acting Director, Corporate Communications Department, Mrs Hakama Sidi-Ali. According to her, it is the […]
(AFRICAN EXAMINER) – The Apapa Customs Command of the Nigerian Customs Service (NCS) has said it generated a total of N1.2 trillion as revenue between January and July 2024. The Customs Area Controller (CAC), Apapa Command, Comptroller Babatunde Olomu, disclosed this in a statement issued by the Public Relations Officer, Mr Usman Abubakar, in Lagos […]
(AFRICAN EXAMINER) – Former Nigeria’s President, Olusegun Obasanjo, has stated that the fuel subsidy that was earlier removed by the Federal Government in 2023, has been brought back because of the rising inflation. Obasanjo’s statement is coming on the heels of President Bola Tinubu’s inauguration speech that subsidy was abolished. The removal of subsidy immediately […]
(AFRICAN EXAMINER) – A coalition of Civil Society Organizations (CSO) at the weekend said it would set up a situation room to monitor the compliance of the Nigeria National Petroleum Corporation Limited (NNPCL) to the presidential directive to sell crude oil to Dangote Refinery in Naira currency. Leaders of the 28 CSOs who were on […]
(AFRICAN EXAMINER) – Students across tertiary institutions in the country under the aegis of National Association of Nigerian Students (NANS) have passed a vote of confidence on the Dangote Refinery describing the recent demarketing of the world’s largest single train refinery by the Nigeria National Petroleum Corporation Limited (NNPCL) as the greatest disservice to the […]
(AFRICAN EXAMINER) – The head of the World Trade Organisation on Tuesday said global commerce was going through troubling times, with protectionism on the rise. WTO chief Ngozi Okonjo-Iweala said the future of trade lay in services, digitalisation and the green economy, in the global trade body’s annual report. “These are troubling times for global […]
(AFRICAN EXAMINER) – The Corporate Affairs Commission (CAC) says it will delist companies that have not filed their annual reports in a decade. In a statement on Wednesday, the Commission said the full list of the dormant companies was available on its website. “This is to inform the general public that the commission pursuant to […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has again raised the Monetary Policy Rate (MPR), which measures interest rates by 50 basis points, from 26.25% to 26.75% amid soaring inflation and skyrocketing food prices. CBN Governor, Olayemi Cardoso, announced this after the apex bank’s 296th Monetary Policy Committee (MPC) meeting in Abuja on […]
(AFRICAN EXAMINER) – The African Group at the World Trade organisation (WTO) presented a proposal at its General Council (GC) to re-elect Ngozi Okonjo-Iweala as director-general of the organisation. Adebayo Thomas, the Director, Press and Public Relations, Ministry of Industry, Trade and Investment, said this in a statement in Abuja. According to him, the proposal […]
(AFRICAN EXAMINER) – The Director-General of West Africa Region, African Development Bank (AfDB), Lamin Barrow, says the banks’s cumulative financing approvals in Nigeria stands at 10.9 billion dollars. Barrow said this at the Second Interactive Session and Workshop on Developing Bankable Business Proposals/Business Plans for Youths in Agriculture on Monday in Abuja. The News Agency […]
(AFRICAN EXAMINER) – The Joint Committee of the House of Representatives investigating the arbitrary rise of cement price in the country has asked major producers in the industry to tender documents on cost production to justify the price of cement in the market. The committee resolved to visit production plants of the companies after going […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has projected that Nigeria’s external reserves could reduce slightly in 2024. This was disclosed in the recently released maiden edition of its ‘Macroeconomic Outlook: Price Discovery for Economic Stabilisation’ report. The apex bank attributed the project deep in the country’s reserves to debt service and other […]
(AFRICAN EXAMINER) – The Federation Accounts Allocation Committee (FAAC) gas shared a total sum of N1.354 trillion June revenue among the Federal Government, states and Local Government Councils (LGCs). The revenue was shared at the July meeting of FAAC, held in Abuja and chaired by the Minister of Finance and Coordinating Minister of the Economy, […]
(AFRICAN EXAMINER) – Africa’s richest man Aliko Dangote says the Nigerian National Petroleum Company (NNPC) Limited now owns a 7.2% stake in the Dangote Petroleum Refinery, and not a 20% stake as initially announced before the inauguration of the facility at the Lekki Free Trade Zone. Dangote, who made this known at a press briefing […]
(AFRICAN EXAMINER) – The Shell Petroleum Development Company of Nigeria Limited (SPDC) Joint Venture has significantly expanded its educational initiatives by inducting 27 Nigerian academics and research interns. This year’s programme, a 35% increase from the previous year, welcomed eight professors, four senior lecturers, and 15 other participants. Held at the company’s headquarters in Port […]
