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The Minister of State for Petroleum Resources, Timipre Sylva, says Nigeria must bring down the cost of production of its crude oil as the country is currently a laughing stock in the way it runs business in the oil and gas sector.

Reduction of Nigeria’s oil JVs equity my priority – minister

The implementation of the proposed reduction of the federal government’s equity holding in the joint ventures in the oil industry is one of the priorities of the Minister of State for Petroleum Resources, Timipre Sylva.
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Digital banking startup raises $10 million for mobile banking in Nigeria

FairMoney, a Paris-based fintech startup, has closed a $10 million-euro Series A round of investment led by Flourish, a venture of The Omidyar Group, the partners of DST Global, and existing seed investors Newfund, Speedinvest, and Le Studio VC to reshape mobile banking in Nigeria and other countries.

Ecobank Nigeria announces appointment of key officers

Ecobank Nigeria has announced the appointment of key Management Officers across various levels. Amongst those appointed are Kenneth Okere, who is now the Company Secretary & Chief Legal Counsel; Ibukunoluwa Oyedeji, Chief Financial Officer (CFO); Abiola Aderinola, Financial Controller; Adetokunbo Uko, Treasurer and Akintunde Dawodu, Chief Compliance Officer and Head, Compliance & Control.
Walmart will stop selling e-cigarettes because of “regulatory complexity and uncertainty” surrounding the products.

Walmart to stop selling e-cigarettes

Walmart will stop selling e-cigarettes because of “regulatory complexity and uncertainty” surrounding the products. CNBC reported on an internal company memo about the change, and Walmart confirmed the news in a statement.
Nigerian Stock Exchange NSE

NSE market capitalisation increases by N25 billlion

Trading closed positively on the Nigerian Stock Exchange (NSE) on Friday with the market capitalisation improving by N25 billion.

NBS: Average price for kerosene, diesel, petrol rose in August

The average prices paid by consumers for kerosene, Automotive Gas Oil (diesel) and Premium Motor Spirit (petrol) increased in August, the Nigeria Bureau of Statistics has said.

Nigerian returns $80,000 bitcoins transferred to him in error

Radio France Internationale has reported the story of a Nigerian who returned to its rightful owner $80,000 worth of bitcoins mistakenly transferred to his account. Amidst reports of some bad Nigerians, this is a story worth to share and cheer.

Nigeria spends $1.2 billion to import fish annually – central bank chief

The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says about 1.2 billion dollars worth of fish is imported into this country annually.
In line with the Central Bank of Nigeria (CBN) policy to discourage the importation of milk, four dairy products manufacturers have commenced the process for the local production of milk, an official has said.

Four Nigerian companies begin local production of milk

In line with the Central Bank of Nigeria (CBN) policy to discourage the importation of milk, four dairy products manufacturers have commenced the process for the local production of milk, an official has said.

Official: Central bank, governors agree to develop agric sector

The Central Bank of Nigeria (CBN) and governors of the 36 states of the federation on Thursday agreed to pool resources to develop the agricultural potentials in their domains and create jobs.

I was barred from public statements after 2005 Sosoliso air crash – ex-NCAA chief

The Sosoliso air crash of December 10, 2005 would have been averted if the Minister of Aviation had allowed the Nigerian Civil Aviation Authority (NCAA) to shut down the Port Harcourt International Airport (PHIA) for its non-compliance with air safety.g

Federal government moves to preserve railway heritage

The Federal Government is fully aware of he importance of preserving the history of the Nigerian Railway heritage, the Minister of Transportation, Mr Rotimi Amaechi, has said.

Electricity: DisCos are deceiving Nigerians – TCN

The Transmission Company of Nigeria (TCN) on Thursday took a swipe at the Association of Nigerian Electricity Distributors (ANED), saying the group was indulging in wholesale falsehood to deceive Nigerians.
Benin Airport

Benin Airport to expand apron to accommodate more aircraft

The Manager of Benin Airport, Mr Olatokunbo Arewa, says plans are on to expand the apron of the airport as more airlines commence operations in the state.

Federal government begins inspection of weights and measures of oil pump in Bayelsa

The Weights and Measures Department, Federal Ministry of Industry, Trade and Investment, has commenced inspection on filling stations in Bayelsa State.
(FILES) In this file photo taken on February 25, 2006 Saudi security guard the entrance of the oil processing plant of the Saudi state oil giant Aramco in Abqaiq in the oil-rich Eastern Province. Drones struck two Saudi Aramco oil facilities early on September 14, 2019, state media said, citing the interior ministry. “The industrial security teams of Aramco started dealing with fires at two of its facilities in Abqaiq and Khurais as a result of… drones,” the official Saudi Press Agency reported.STRINGER / AFP

Saudi asks Iraq for 20 million barrels of crude after attack on Aramco facilities

Riyadh on Thursday asked Iraq’s national oil marketing company for 20 million barrels of crude to supply the country’s stocks after an attack on Saudi Aramco facilities.

Oil prices edge up after turbulent week as Saudi Arabia reassures on output

Oil prices edged higher in Asian trade on Thursday after days of turbulence, with markets soothed by Saudi Arabia’s pledge to restore full production by end-September at facilities knocked out in drone and missile attacks last weekend.

Qatar Airways annual loss widens

Qatar Airways reported a loss of 2.3 billion Qatari riyals or 639 million dollars on Wednesday for the year ended March 31, as it grapples with the second year of an embargo by neighbours that has restricted its air routes and driven costs higher.

Recent Stories

The Federal Polytechnic, Kaura Namoda in Zamfara State has been shut down as a result of students’ unrest that had paralysed the activities of the institution.

Zamfara federal polytechnic shut over students’ unrest

The Federal Polytechnic, Kaura Namoda in Zamfara State has been shut down as a result of students’ unrest that had paralysed the activities of the institution.

P&ID scandal: Suspect Grace Taiga remanded in prison

A Nigerian female accomplice of embattled P&ID firm, Mrs Grace Taiga, has been remanded in Suleja Prison according to an EFCC press statement.
At least 28 people were killed and 20 others are missing after Typhoon Lekima hit south-eastern China, state news agency Xinhua reported Sunday.

Powerful typhoon triggers blackout in southern Japan

A powerful typhoon hit Japan’s southern Okinawa islands Saturday, cutting power to more than 15,000 homes and grounding hundreds of flights.
Professor Biodun Ogunyemi

ASUU wants federal government’s visitation panel to halt crises in varsities

Professor Biodun Ogunyemi, President, Academic Staff Union of Universities, has called on the Federal Government to send a visitation panel to universities to douse tension and prevent further breakdown of industrial relations in campuses.
Manchester City are keeping tabs on 15-year-old Turkish midfielder Altinordu midfielder Burak Ince.

Manchester City monitoring 15 year-old Turkish midfielder

Manchester City are keeping tabs on 15-year-old Turkish midfielder Altinordu midfielder Burak Ince.