By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) has announced the delivery of 30 million barrels of crude oil to the Dangote oil refinery, with plans to supply an additional 17 million barrels in the coming months. This was disclosed by the Executive Vice President of NNPCL Downstream, Adedapo Segun, during an interview…
By Ayomide Otitoju Stakeholders at the 2024 Zenith Bank International Trade Seminar have called for the promotion of value-added exports to drive Nigeria’s economic growth. They emphasized the importance of processing non-oil export products into semi-finished and finished goods to unlock significant benefits for the nation. According to a statement from Zenith Bank, the call…
By Ayomide otitoju The Lagos State Government, in collaboration with its development partners, has emphasized the importance of comprehensive data collection to promote equity and resilience in the face of population growth and sustainable development challenges. This call was made during a forum organized by the Lagos Bureau of Statistics, under the Ministry of Economic…
By Ayomide Otitoju The Nigerian Communications Commission (NCC) has awarded Airtel Nigeria Telesonic Limited, a subsidiary of Airtel Africa, three key telecom licences. These include National Long Distance (NLD), Internet Service Provider (ISP), and Sales & Installation Major licences, enabling the company to expand its fibre network and bolster Nigeria’s growing data services demand. According…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the $20 billion Dangote Refinery in Lagos will begin supplying the Nigerian market with 25 million litres of petrol daily starting September. By October, this figure is expected to increase to 30 million litres per day. In a statement posted on X (formerly…
Energy expert Omonigho Otanocha has called on the Nigerian government and petroleum product importers to convert their depots into crude storage facilities, in light of the Nigerian National Petroleum Company Limited’s (NNPCL) cessation of fuel importation following the commencement of operations at the Dangote Refinery. Otanocha, who serves as the Chief Executive Officer of FUPRE…
The board and management of PremiumTrust Bank have reaffirmed the bank’s robust performance and sustained profitability during its inaugural annual general meeting held recently in Lagos. At the meeting, the bank’s leadership highlighted its solid financial achievements and reiterated their commitment to driving growth and delivering exceptional value to stakeholders. Dr. Perez Araka, Chairman of…
By Ayomide otitoju Access Bank has secured a crucial $295 million loan package from FMO, the Dutch Entrepreneurial Development Bank, aimed at bolstering small and medium enterprises (SMEs) across Nigeria. This significant financial boost is part of a broader strategy to position Access Bank as a leading supporter of SMEs, with a focus on businesses…
By Ayomide Otitoju Zenith Bank has announced its financial results for the second quarter of 2024, revealing a remarkable pre-tax profit of N406 billion, a 370% increase compared to the N86.8 billion reported during the same period last year. This significant boost in profits was primarily driven by substantial gains in forex-related activities. The bank’s…
