(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. […]
(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 […]
