By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC) has announced a commitment of 272,500 barrels per day of crude oil through a series of crude-for-loan agreements totaling $8.86 billion. This commitment translates to approximately 8.17 million barrels of crude being allocated monthly for various loan arrangements. According to an analysis by the Nigeria…
The Federal Government has introduced two major fiscal incentives aimed at revitalizing Nigeria’s oil and gas sector and boosting foreign investment. The incentives were announced on Wednesday by Wale Edun, Minister of Finance and Coordinating Minister of the Economy, as part of ongoing efforts to enhance the sector’s competitiveness on the global stage. According to…
The Federal Government, in partnership with the World Bank, is set to commence a major rural electrification project in November, aimed at providing electricity to 17.5 million Nigerians. This was revealed by the Managing Director of the Rural Electrification Agency (REA), Abba Aliyu, during an appearance on Channels Television’s Sunrise Daily on Thursday. Aliyu stated…
The Bank of Industry (BOI) has announced the disbursement of N77.65 billion in loans to support medium, small, and micro-enterprises (MSMEs) within the first nine months of 2024. This financial assistance has benefited nearly 1,000 MSMEs across Nigeria, enabling them to enhance operations, boost productivity, and contribute to the nation’s economic growth. Dr. Olasupo Olusi,…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) has announced that increasing crude oil production from the current 1.7 million to 3 million barrels per day is feasible. Mr. Olufemi Soneye, Chief Corporate Communications Officer of NNPCL, made this statement during a Stakeholders Engagement Session with Senate correspondents in Abuja. Soneye emphasized that…
Digital solutions provider, Globacom, has announced its readiness to collaborate with tertiary institutions in Oyo State to enhance productivity, security, and operational efficiency through the adoption of its digital offerings. Speaking during a meeting in Ibadan on Thursday with representatives of private tertiary institutions, Globacom’s Head of Enterprise Business, Mr. Zakari Usman, emphasized the importance…
By Ayomide Otitoju The Federal Government of Nigeria has unveiled a new initiative to expand compressed natural gas (CNG) infrastructure and reduce transportation costs by over 40%. The plan was formalized on Friday with the signing of a Memorandum of Understanding in Abuja. Michael Oluwagbemi, Programme Director of the Presidential Compressed Natural Gas Initiative, emphasized…
First City Monument Bank (FCMB) has empowered 30 young graduates through its Flexxtern programme, providing them with practical skills, real-world experience, and a direct path to career success. The initiative, launched in 2016, has so far provided over 200 young Nigerians with internships at reputable organisations. Yomi Adebanjo, Group Head of Human Resources at Signal…
By Ayomide Otitoju During an exclusive interview with Arise TV at the 79th United Nations General Assembly, Olusegun Alebiosu, CEO of FirstBank, one of West Africa’s leading financial institutions, emphasized poverty eradication as a critical issue demanding the attention of global leaders. He also highlighted climate change and gender inequality as equally pressing challenges requiring…
