By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC Ltd) has ramped up its crude oil production to 1.8 million barrels per day (mbpd) and gas production to 7.4 billion standard cubic feet per day (bscfd), marking a significant achievement in line with President Bola Ahmed Tinubu’s directives. At a press briefing on Thursday,…
By Ayomide Otitoju The Nigerian National Petroleum Company (NNPC) Limited has announced that its subsidiary, NNPC Gas Marketing Limited (NGML), has successfully executed a Gas Sale and Purchase Agreement (GSPA) with Dangote Petroleum Refinery and Petrochemicals FZE. This landmark deal, which will supply natural gas for power generation and as feedstock to the Dangote Refinery…
By Ayomide Otitoju United Bank for Africa (UBA) Plc has partnered with Mastercard to launch a special edition debit card in celebration of the bank’s 75th anniversary. The commemorative card honors UBA’s legacy and strengthens customer relationships by offering exclusive discounts and enhanced banking experiences. Speaking at the launch event, UBA’s Group Managing Director/CEO, Oliver…
By Ayomide Otitoju Stanbic IBTC Holdings reaffirmed its position as a leader in Nigeria’s financial sector, winning multiple prestigious awards at the 2024 FMDQ Gold Awards. Recognized for its excellence, resilience, and innovation, Stanbic IBTC Bank received top accolades in key categories, including FMDQ FX Market Liquidity Provider, FMDQ Dealing Member of the Year, and…
By Ayomide Otitoju Wema Bank, renowned for its digital banking innovations and dedicated support for small and medium-sized enterprises (SMEs) in Nigeria, has been awarded the titles of “Best SME Bank in Nigeria” and “Excellence in Digital Innovation” at the 2024 Global Retail Banking Innovation Awards. The annual event honors financial institutions driving change through…
By Ayomide Otitoju Ecobank Nigeria, a subsidiary of the Ecobank Group, has been awarded the prestigious Client Excellence Award by Deutsche Bank AG for its exceptional performance in institutional cash management over the past year. At the award ceremony held in Lagos, Andreas Voss, Deutsche Bank AG’s Chief Country Representative, Corporate Bank, praised Ecobank Nigeria…
The naira is projected to decline to N1,993 against the US dollar by 2028, a trend that threatens to exacerbate challenges in Nigeria’s healthcare sector, particularly for the import-dependent pharmaceutical industry. A report by BMI, a subsidiary of Fitch Solutions, titled “Weak Naira and Structural Challenges to Constrain Nigeria’s Medical Devices Market Growth,” highlights the…
By Ayomide Otitoju The Independent Petroleum Marketers Association of Nigeria (IPMAN) has reached an agreement with Dangote Petroleum Refinery to supply products directly to its depots and retail outlets, a move aimed at reducing fuel costs for Nigerians. IPMAN’s National President, Abubakar Garima, made the announcement during a press briefing in Abuja on Monday, following…
The Nigeria Deposit Insurance Corporation (NDIC) has announced that it will initiate the sale of Heritage Bank’s assets on December 4, 2024, following the recent revocation of the bank’s operating license. In a statement by NDIC’s Director of Communication and Public Affairs, Bashir Nuhu, the corporation disclosed that the sale, which includes the bank’s landed…
