Non-OPEC oil output, led by U.S., likely to grow more than demand- IEA
Businessam Staff
February 13, 2018
The International Energy Agency, IEA, said on Tuesday that the rise in global oil production, led by the United States, is likely to outpace growth in demand this year. The Paris-based IEA raised its forecast for oil demand growth in 2018 to 1.4 million barrels per day, from a previous forecast of 1.3 million bpd, […]
Nigeria equities market dives as sell-offs continue
Businessam StaffFebruary 12, 2018
The Nigerian stock market finished sharply lower by 0.9 percent Monday to continue the over a week bearish run. Sell-offs in big and mid caps brought down the NSEASI to 42,737.89 points from 43,127.92 points last Friday. The bearish run thus extends to the sixth consecutive trading session on the day, aided by profit taking […]
Nigerian companies to gain additional reliefs as new tax laws underway
Steve OmanufemeFebruary 12, 2018
Nigerian corporates and eligible taxpayers are expected to gain some reliefs when the ongoing tax law reforms are approved and implemented, according to details of the recommendations of the National Tax Policy Implementation Committee (NTPIC) seen by business.a.m. The NTPIC had on Friday, February 2, 2018, presented its progress report on the review of tax […]
Nigeria’s executive, legislature face-off slows economic policies
Ajose SehindemiFebruary 12, 2018
Bismarck Rewane, financial analyst and chief executive officer of Lagos-based Financial Derivatives Company Ltd (FDC), has indicated that the political face-off between Nigeria’s Presidency and the National Assembly is choking economic policy implementation and stalling economic growth. Rewane cited some outcome of the faceoff to include the 2018 budget, which he said was in limbo; […]
Regional local content seen to drive growth in West African, but integration is key
Bukola OdufadeFebruary 12, 2018
After Nigeria implemented its local content act, in 2010, other African oil producing countries have followed suit and some, like Ghana and Uganda, even modeled their local content act, using Nigeria’s local content act as a framework. However, there is little to no regional local content integration across the West African region. This was one […]
business a.m. Accra conference to boost sustainable development in West Africa
Bukola OdufadeFebruary 12, 2018
Businessnewscorp Limited Nigeria, publishers of business a.m. and businessamlive.com has said that in order for organisations and businesses in West Africa to balance the three pillars of sustainable development, social progress, economic growth and environmental protection, they have to integrate sustainability in their everyday business. To this end, the company has concluded plans to host […]
Nigerian solar energy company, Consistent, champions rent-to-own power access for SMEs
Bukola OdufadeFebruary 12, 2018
A solar power company is changing the way consumers, especially small and medium scale enterprises can access the inexhaustible energy as it combines financing with a provision of renewable energy. Consistent Energy Limited, a solar energy company, believes solar energy should not be thought of as expensive, but rather as affordable. Segun Adaju, chief executive […]
Oil prices rebound as stocks markets steady
Businessam StaffFebruary 12, 2018
Oil prices rose on Monday by 1 percent, moving in step with stocks. It is recovering at least some of last week’s steep losses as Asian stock markets found their footing after days of chaotic trading. Looming over oil markets, however, was rising production in the United States which is undermining efforts led by the […]
ExxonMobil, Shell, Chevron, Total, BP cautious despite profiting from oil price rebound
Businessam StaffFebruary 11, 2018
The world’s leading oil companies published a bumper crop in profits last year as rising crude prices helped turn their fortunes around, but they remain cautious and are unlikely to rush out on a new spending spree just yet. In a flourish of earnings reports over the past week, the picture painted by majors ranging […]
No excuse for continued use of energy subsidies worldwide- Christine Lagarde
Businessam StaffFebruary 11, 2018
Christine Lagarde, the international monetary fund’s Managing Director asserted on Saturday the importance of removing energy subsidies worldwide and especially in the Middle East. The IMF chief said this while giving speech at the third annual Arab Fiscal Forum, organised by the Arab Monetary Fund and the IMF in Dubai. She said that, “There is […]