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At last, National Assembly passes N9.12tn budget…lawmakers increase NASS budget to N139.5bn

The National Assembly eventually passed the 2018 budget on Wednesday, six months after President Muhammadu Buhari submitted the estimates to both chambers of the assembly.


Akwa Ibom, Mobil collaborate on oil exploration

The Akwa Ibom State Government has announced plans to work more with Mobil Producing Nigeria in the area of oil exploration and development of various communities.


Split petroleum licences in PIB, NNPC tells N’Assembly

The Nigerian National Petroleum Corporation on Wednesday called for the splitting of petroleum licences into prospecting and production phases under the draft Petroleum Industry Administrative legislation currently before the National Assembly.


BoI to simplify loan procedures for MSMEs

The Managing Director, Bank of Industry, Olukayode Pitan, on Tuesday said that the lender had opened discussions with the Small and Medium Enterprise Development Agency of Nigeria and the Nigeria Export and Import Bank to de-risk its loan portfolios to small-scale businesses.



FEC okays $995m, N15.45b for roads

The Federal Executive Council (FEC)  yesterday approved $995 million and N15.45 billion for two roads.


Forex: ABCON seeks rate review for BDCs

The President of Association of Bureaux De Change Operators of Nigeria (ABCON) Aminu Gwadabe yesterday called on the Central Bank of Nigeria (CBN) to review the exchange rate band at which Bureaux de Change (BDCs) buy dollars to align with commercial banks’ buying rate.


FCMB gets ISO certification

First City Monument Bank (FCMB) was yesterday awarded the International Organisation for Standardisation (ISO) 9001:2015 certificate for Quality Management System.


DPR sets new guidelines for LPG operations

The Department of Petroleum Resources (DPR) is to engage stakeholders in the Liquefied Petroleum Gas (LPG) to fashion out new guidelines on high risk and life-threatening practices being taken for granted by operators in the industry.




Governors Accuse NNPC of Failure to Remit Oil Royalties

Governors under the aegis of the Nigeria Governors’ Forum (NGF) last night accused the Nigeria National Petroleum Corporation (NNPC) of failing to remit royalties as stipulated by the extant laws.


Crude Oil Price Drops as Demand Shows Sign of Weakening

Crude oil price fell Wednesday even as the data released by the United States Energy Information Administration (EIA) showed that the US crude oil stocks fell last week as refineries hiked output, while petrol stocks decreased and distillate inventories fell.


FG Provides More Details on N72bn Investment Plan for Discos

The federal government has provided more details on the N72 billion financial facility it plans to provide for the 11 electricity distribution companies (Discos) in Nigeria to upgrade and expand their networks.


Lafarge Africa Shareholders Approve N100bn Bond Issuance

Shareholders of Lafarge Plc yesterday at the annual general meeting (AGM) in Lagos approved plans by the company to issue a N100 billion bond later in 2018.


ECOWAS Predicts 2.1% Growth Rate for Nigeria in 2018

The Economic Community of West African States (ECOWAS) on Tuesday predicted a growth rate of 2.1% for Nigeria in 2018, as against 1.6% in the previous year.


Shareholders Caution Oando against Ansbury Reconciliation

Some shareholders of Oando Plc on Wednesday cautioned its management against moves to reconcile with Ansbury Investments Incorporated, owned by Mr. Gabriele Volpi.


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