Nigerian govt begins review of petroleum regulations

The Nigerian government has commenced the review of the midstream and downstream petroleum regulations. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is in charge of the policy change. Timipre Sylva, Minister of State for Petroleum Resources gave an update at the NMDPRA stakeholders’ consultation forum on Monday in Abuja. The minister noted that […]

Nigerian govt begins review of petroleum regulations

Senate summons CBN boss Emefiele over naira depreciation

The Senate has summoned Godwin Emefiele, the Governor of the Central Bank of Nigeria, over the depreciation of the naira. Reports revealed the United States dollar exchanged for N658 in the parallel market on Wednesday. The depreciation of the naira fuelled the lawmakers’ decision to invite Emefiele following a motion by Olubunmi Adetunmbi, Senator representing […]

Senate summons CBN boss Emefiele over naira depreciation

I Seek My Wife Permission Before Embarking On A Business – Obi Cubana

Nigerian socialite and business man, Obinna Iyiegbu, popularly known as Obi Cubana, has said that he does not get involved in a business without his wife’s permission. Speaking in an interview with goldmyne, Cubana revealed that he met his wife, Ebinna Iyiegbu, while running one of his businesses. He explained that her contribution greatly imparted his life, […]

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2022 first quarter: Nigeria generated N1.63trn, paid N1.94trn debt

Nigeria’s cost of repaying debt surpassed the revenue realized in the first quarter of 2022, the federal government announced on Thursday. Minister of Finance and Budget, Zainab Ahmed called for urgent and concerted actions to address the situation. In the January-April fiscal performance report, total revenue stood at N1.63trillion, while debt servicing stood at N1.94trillion. […]

2022 first quarter: Nigeria generated N1.63trn, paid N1.94trn debt

Nigeria didn’t hide borrowing plan, fail World Bank disclosure rule – DMO

The Debt Management Office (DMO) has refuted news about Nigeria regarding the World Bank Disclosure Rule and borrowing loans. The federal agency led by Patience Oniha issued a rebuttal on Thursday. The DMO said it was not true that the World Bank blamed Nigeria on the disclosure rule. Media reports accuse the Nigerian government of […]

Nigeria didn’t hide borrowing plan, fail World Bank disclosure rule – DMO

Why Nigeria can’t meet OPEC crude oil production quota – Hostcom Chairman

The National Chairman of Oil and Gas Host Communities, Prince Mike Emuh, has lamented the nation’s under-performance of crude oil production of 2.3 million barrels per day as set by Oil Producing Exporting Countries (OPEC). He said the current under production of Nigeria’s oil and gas industry, which currently stands at 1.3 million barrels per […]

Why Nigeria can’t meet OPEC crude oil production quota – Hostcom Chairman

Palm oil has broader market, greater economic value than crude oil – Dikio

The Interim Administrator, Presidential Amnesty Programme (PAP), Col. Milland Dixon Dikio (rtd), has revealed that palm oil has a broader market, greater economic value and better profit if serious investments could be made to harness it. Dikio, who decried the emphasis on crude oil, described the palm oil sub-sector as another opportunity with huge economical […]

Palm oil has broader market, greater economic value than crude oil – Dikio

World Bank appoints Ghana’s Victoria Kwakwa as VP for Eastern and Southern Africa

The World Bank has appointed a Ghanaian national Victoria Kwakwa as Vice President for Eastern and Southern Africa. The economist, with over 30 years of experience, leads the institution’s engagement with 26 countries. Kwakwa oversees a portfolio of 313 operations totaling $58billion and an extensive program of analytic work, technical assistance, and policy advice. The […]

World Bank appoints Ghana’s Victoria Kwakwa as VP for Eastern and Southern Africa

Beans import into Nigeria annually estimated at N16bn – Gidado

With security challenges taking a toll on food production, Country Co-ordinator, Open Forum on Agricultural Biotechnology(OFAB) in Africa, Dr. Rose Gidado, has put the cost of importing beans or cowpea into Nigeria at N16 billion. Gidado who heads the Nigeria Chapter of the organisation, stated this in Abuja at Science Hang Out organised by Alliance […]

Beans import into Nigeria annually estimated at N16bn – Gidado

Nigeria, Portugal to sign 10 MoUs on investment, travel, others

Nigeria and Portugal will soon sign ten Memorandum of Understanding (MoU) and agreements. President Muhammadu Buhari gave the hint on Thursday in Lisbon at a joint press conference with President Marcela Rebelo de Sousa. He expressed determination to take relations with Portugal to a new level with concrete deliverables. The President emphasized the need for […]

Nigeria, Portugal to sign 10 MoUs on investment, travel, others

Buhari seeks deeper, diverse Nigeria-Portugal trade cooperation

President Muhammadu Buhari on Thursday in Lisbon, called for an increase in the volume of trade with Portugal as well as diversification to non-oil products. The President spoke at an Economic Seminar between Nigeria and Portugal businesses during his State Visit. The Nigerian leader said the two countries were in dire need of new investment […]

Buhari seeks deeper, diverse Nigeria-Portugal trade cooperation

COVID-19 increases global use of digital payments – World Bank

The World Bank has discovered that the COVID-19 pandemic caused a large increase in digital payments amid the global expansion of formal financial services. This created new economic opportunities, narrowing the gender gap in account ownership, and building resilience at the household level to better manage financial shocks, Global Findex 2021 database notes. In low […]

COVID-19 increases global use of digital payments – World Bank

Forex greatly impacts costs of petroleum products – Cross River, oil merchant

An oil merchant in Cross River State, Uche Odigbo has lamented the ever-increasing cost of foreign exchange, which has impacted the cost of fuel and diesel in the state. He disclosed that Nigeria’s poor refining capacity was affecting the price and availability of diesel in the nation. Speaking with journalists in Calabar, Odigbo said since […]

Forex greatly impacts costs of petroleum products – Cross River, oil merchant