African cities charged to adopt holistic approach to tourism as Lagos ranked among 132 global destinations
Businessam Staff
November 8, 2017
African cities have been charged to find efficient ways to develop into smart cities capable to not only attract visitors but also to offer unique experiences and overcoming growing infrastructure demands. This is just as Lagos got ranked among 132 global destinations The charge is contained in The Mastercard Global Destinations Cities Index (GDCI) report […]
Nigeria Aiteo says not selling its prolific Niger-Delta oil asset, OML 29
Businessam StaffNovember 8, 2017
Aiteo Group, owners of the prolific oil asset, oil mining lease (OML) 29, located in the oil rich Niger Delta region of Nigeria, Tuesday issued a strong statement in London, United Kingdom, against what it described as suggestions that a portion of the shareholding of the company that holds the asset has put it up […]
Nigeria to record N43bn annual savings as OVH Energy’s Lagos Midstream Jetty comes on stream
Businessam StaffNovember 8, 2017
Nigeria, Africa’s largest economy by gross domestic product, and an avid importer of petroleum products is expected to record N43 billion in annual savings from activities associated with product importation, storage and offloading following with the coming on stream of a midstream jetty facility Tuesday. Company executives at ASPM Limited, a subsidiary of OVH Energy […]
Buy interest in Dangote Cement drives Nigeria’s equities market up 0.22%
Businessam StaffNovember 7, 2017
The Nigerian equities market recouped losses of the previous trading session as the all-share index rose 0.22 percent to close at 37,013.57 points while year-to-date gain expanded to 37.7 percent. Tuesday’s positive performance was primarily on account of buying interest in DANGCEM (+0.9%), that without DANGCEM, market would have lost six basis points. Accordingly, market […]
President Buhari projects GDP growth of 3.5% in 2018 as he presents budget of consolidation to National Assembly
Businessam StaffNovember 7, 2017
President Muhammadu Buhari on Tuesday formally presented an N8.6 trillion 2018 budget to a joint session of the National Assembly, projecting a gross domestic growth of 3.5 percent in 2018. Dubbed the ‘budget of consolidation,’ the 2018 budget is about 16 percent higher than the N7.44 trillion appropriated in 2017. The president said the budget […]
OPEC forecasts slow growth in demand for its oil, sees US shale dominating the market in coming years
Businessam StaffNovember 7, 2017
The organization of Petroleum Exporting Countries (OPEC) has forecasts in a new report that global demand for its crude will rise in the next two years more slowly than expected amid shale drillers capturing much of the growth in oil demand in the coming years. The group’s forecast as contained in its annual World Oil […]
Oil prices remain firm as gold, silver weaken on improved global sentiment, strong dollar
Businessam StaffNovember 7, 2017
Crude oil prices Tuesday, November 7 stayed stable above opening prices as market sentiments improved just as gold and silver remained weak in the early hours of the day. The West Texas Intermediate crude oil futures contracts for December 2017 delivery traded at $ 57.23 per barrel midday—a fall of 0.21 percent, while the Brent […]
Nigeria’s apex bank set to open more business opportunities with collateral registry
Businessam StaffNovember 7, 2017
Nigeria’s central bank said it is opening more business opportunities in the country through the National Collateral Registry (NCR). Isaac Okorafor, the bank’s acting Director, Corporate Communications, in a statement Monday said that soon the NCR would move to the next phase of its mandate of easing business practices in Nigeria. Okorafor, according to NAN, said […]
BA announces £4.5bn investment to restore past glory
Businessam StaffNovember 7, 2017
It’s been a year to forget for British Airways. The beleaguered airline has suffered a series of embarrassing setbacks in 2017, including a costly computer meltdown, cabin crew strikes and – most bizarrely – delays caused by a shortage of loo roll. Add to that the backlash over its decision to axe free meals on […]
Nigeria supports OPEC cut extension until end of 2018 under “the right terms”
Businessam StaffNovember 6, 2017
Emmanuel Ibe Kachikwu, Nigeria’s oil minister said the country supports an extension of a deal between OPEC, Russia and other non-members to cut oil supply until the end of 2018 “as long as the right terms are on the table” regarding its own participation. The minister said there is growing agreement among other members of […]