President Muhammadu Buhari says his administration has attracted over $3 billion in investment in the Oil and Gas Sector. Mr Femi Adesina quoted Buhari as stating this at the inauguration of the Kolmani Integrated Development Project in Bauchi. Such investment, he said, is coming at a time of near-zero appetite for investment in fossil energy. […]
By Our Correspondent Mallam Mele Kyari, the Group Chief Executive Officer of Nigerian National Petroleum Corporation (NNPC) Ltd., has challenged stakeholders to exploit the country’s huge oil and gas resources to boost the economy. Kyari spoke at the ongoing 40th annual international conference and exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos […]
By Our Correspondent The House of Representatives Committee on Public Procurement has rejected the N58 million capital allocation in the 2023 budget proposal for the Bureau of Public Procurement (BPP). Rep. Nassir Ahmed, Chairman of the Committee rejected the budget proposal when Mr Mamman Ahmadu, Director General of BPP appeared before the committee to defend […]
The Association of Bureaux Des Change Operators of Nigeria (ABCON) says the nation’s currency, Naira, has continued to firm against the Dollar at the parallel market as date for the introduction of new currency notes draw nearer. Alhaji Aminu Gwadabe, President (ABCON), told newsmen on Wednesday in Lagos that there is growing return to sanity […]
Four Federal Government agencies defended their 2023 budget proposals before the Senate Committee on Industries at the Upper Chamber of the National Assembly, on Thursday in Abuja. The NewsZenith reports that the agencies include the Industrial Training Fund (ITF), Bank of Industries (BOI), Standard Organisation of Nigeria (SON) and Small and Medium Enterprises Development Agency […]
The Central Bank of Nigeria (CBN) has advised Nigerian students to use the electronic naira (eNaira) platform to pay school fees and make other payments. Mrs Rakiya Muhammed, the Director of the Information Technology Department at the CBN and Coordinator of Technical Working Committee, eNaira Secretariat, gave the advice during a sensitisation on eNaira at […]
By Our Correspondent The Upper Chamber of the National Assembly, on Tuesday, suspended the consideration of the 2023 budget for the Ministry of Defence due to the inability of the Minister, Bashiru Magashi, to honour its invitation. The NewsZenith reports that the Senate Ad-hoc Committee on the resuscitation of the Nigerian Naval ship, NNS Aradu […]
Saudi Arabian state oil producer Aramco, on Tuesday, posted a 39 per cent jump in its third-quarter net income that beat analysts’ forecasts, boosted by higher crude oil prices and volumes sold. Aramco’s net income rose to $42.4 billion for the three months to Sept. 30 from $30.4 billion a year earlier, it said in […]
Oil prices rose on Tuesday, paring losses from the previous session, as a weaker U.S. dollar offset widening COVID-19 curbs in China that have stoked fears of slowing fuel demand in the world’s second-largest oil consumer. Brent crude for January delivery rose 73 cents, or 0.8 per cent, to $93.54 a barrel at 0406 GMT […]
President Nana Addo Dankwa Akufo-Addo of Ghana has outlined measures to halt the depreciation of the country’s currency, cedi. Akufo-Addo announced these measures in a televised nationwide address, blaming the COVID-19 pandemic and the Russian-Ukrainian conflict for the country’s economic woes. He also blamed currency speculators and unlicensed currency dealers dubbed as “black market operators” […]