Tuesday, April 8, 2025
The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it has not paid fuel subsidies to anyone in the last nine months. The Chief Financial Officer of the company, Alhaji Umar Ajiya, made the clarifications on Monday in Abuja. Ajiya said NNPC Ltd. was only handling Premium Motor Spirit (PMS) […]
700,000 applications verified’ A massive boost to reflate the economy is underway, Minister of Industry, Trade and Investment, Doris Uzoka-Anite said yesterday. Seventy-five major companies will get N1 billion single-digit loan disbursement next month, while another N125 billion will be given out as loans to Micro, Small and Medium Enterprises […]
A group of prominent political leaders from the North emerged yesterday, named the League of Northern Democrats (LND), which said it would convene a strategic summit to revive the region’s political and economic place in Nigeria. The group, which declared its intention to unite and reposition the North as a […]
The Naira yesterday depreciated to N1, 600 per dollar in the parallel market from N1,590 per dollar last weekend. However, the Naira appreciated to N1,579.22 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,579.22 per […]
IHS Towers ($IHS), the world’s fourth-largest independent tower company, has laid off over 100 employees as currency devaluation in Nigeria, its biggest market, squeezes its profits. One person with direct knowledge of the business told TechCabal that the layoffs, which cut across several departments, mostly affected senior employees and the […]
See Page 36/37 of recently published 2023 NUPRC annual report. Note that this excludes deepwater production which belongs to the federation Delta State was the highest followed by Akwa Ibom state. This is reflected in the 13% monthly allocations to oil producing states. https://www.nuprc.gov.ng/wp-content/uploads/2024/04/UPDATED-2023-NUPRC-ANNUAL-REPORT.pdf
The Federal Government owes the Nigerian National Petroleum Company Limited almost half of what it plans to collect in revenues this year for the petrol subsidy it reintroduced in August last year, Bloomberg reported on Monday. The report stated that NNPC is owed N7.8tn ($4.9bn) by the government in subsidy […]
The Federal Government is targeting a $500m loan from the World Bank to tackle inadequate human resource issues in the country’s education and healthcare systems. The proposed loan, part of the Nigeria Human Capital Opportunities for Prosperity and Equity Governance Programme, is intended to tackle long-standing staffing gaps and enhance […]
PRESS RELEASE NNPC Ltd is not owing $6.8bn The attention of the Nigerian National Petroleum Company Limited (NNPC Limited ) has been drawn to a media report that the company is indebted to international oil traders to the tune of $6.8bn and that it has not remitted revenues to the […]
Senegal successfully launches first satellite Senegal’s first satellite has been successfully launched into orbit, President Bassirou Diomaye Faye said. He added that the move marked a major step towards the West African country’s “technological sovereignty”. The GAINDESAT-1A satellite was launched at 6: 56 p.m., Friday from the Vandenberg base in […]