NNPC receives $120.49m crude oil receipt in September  

Ben EguzozieJanuary 18, 2021

NNPC receives $120.49m crude oil receipt in September  

  Corporation’s production arm, NNPD lifted zero crude for period All subsidiaries registered surpluses     The Nigerian National Petroleum Corporation (NNPC) has announced it received $120.49 million as total export receipt for crude oil and gas in September 2020. The amount is 16.28 percent higher than the $100.88 million the national oil company received […]

Analysts warn of economy unhinged as inflation bites

January 18, 2021

Analysts warn of economy unhinged as inflation bites

By Charles Abuede   Posts 3-year high at 15.75% Bears fangs on economy Headline index majorly driven‭ ‬by rises in food‭, ‬core inflation   As Nigerians grapple with the incessant ascension in food prices, it is now no longer speculation that the menace of poor harvest and storage facilities, the disruptions from the coronavirus pandemic, […]

NNPC moves to rehabilitate downstream infrastructure, openscontract bids

Ben EguzozieJanuary 15, 2021

NNPC moves to rehabilitate downstream infrastructure, openscontract bids

  96 firms turn in bids for contract Target facilities are crude supply, refined products evacuation pipelines, depots, terminals With 5,120-km pipeline length of 40 years old, experts ask, can NNPC muster the muscle     The Nigerian National Petroleum Corporation (NNPC), the state-own oil company, has opened bids for possible contracts for the rehabilitation […]

Moody’s sees negative 2021 outlook for sub-Saharan Africa, with severe economic challenges

January 15, 2021

Moody’s sees negative 2021 outlook for sub-Saharan Africa, with severe economic challenges

By Charles Abuede   Says growth recovery will be sluggish with far-reaching implications for already weak revenue generation Non-energy commodity exporters in East, West Africa will remain the most dynamic economies in 2021   Moody’s Investor Service has, in a recent report, revealed that its negative 2021 outlook for sub-Saharan African (SSA) sovereigns echoes the […]

Rivers receives N78.9bn refund from FG as Wike plans more projects with funds

Ben EguzozieJanuary 15, 2021

Rivers receives N78.9bn refund from FG as Wike plans more projects with funds

  Gov assembles top politicians to commission plethora of road projects But opposition says projects impressionistic, lacking economic growth ingredients     Oil-rich Rivers State has finally received the N78.9 billion federal government refund promised it by PresidentMuhammaduBuhari in May last year, following a federal executive council decision to undertake refunds to five states totalling […]

CBN issues guidelines for QR codes operation in Nigeria

January 15, 2021

CBN issues guidelines for QR codes operation in Nigeria

By Charles Abuede Says QR code payments shall be based on EMV code specifications Aims to deepen efficiency in payments services   The Central Bank of Nigeria (CBN) has issued the guiding framework for the interoperability of Quick Response (QR) code payments in Nigeria, stating that its implementation in Nigeria shall be based on the mode […]

Corn, soybean, wheat prices soar after USDA supply downgrade report

January 14, 2021

Corn, soybean, wheat prices soar after USDA supply downgrade report

By Onome Amuge   The recently released World Agricultural Supply and Demand Estimates (WASDE) for January by the US Department of Agriculture (USDA) has intensified fears of shortages for global supply of soybean, corn and wheat in 2021. This comes after the USDA end-of-season report projected that soybean, corn and wheat supplies will fall below […]

Nigeria can generate 30,000MW of electricity by 2030, say GenCos

January 14, 2021

Nigeria can generate 30,000MW of electricity by 2030, say GenCos

By Tobias Pius   Nigeria’s power producers have projected that Nigeria can generate 30,000 megawatts of electricity by 2030 if the country puts pragmatic commercial and political frameworks in place. The producers, speaking through Joy Ogaji, the executive secretary of their groupings, Association of Power Generation Companies (APGC), said the figure, which was once a target […]

Nigeria’s forex traders set up platform for live countrywide market exchange rates

January 13, 2021

Nigeria’s forex traders set up platform for live countrywide market exchange rates

By Charles Abuede    com to provide authentic rates   The Association of Bureau De Change Operators of Nigeria (ABCON) has launched a realtime exchange rates platform, Naijabdcs.com, to provide authentic and live foreign exchange rates across the country based on market realities. This information was made known by Aminu Gwadabe, the association’s president on Tuesday […]