The Department of Petroleum Resources (DPR) has debunked the claim by the Nigeria Extractive Industries Transparency Initiative (NEITI) that the country’s daily crude oil production remains unknown despite over 60 years of exploratory activities. In a statement in Abuja by the DPR’s Head of Public Affairs, Paul Osu, the regulatory agency for the oil and […]
Read MoreChina’s economy grew a record 18.3 percent in the first quarter of 2021 compared with -6.8 percent decline in the first quarter of last year. It’s the biggest jump in the Gross Domestic Product (GDP) since China started keeping quarterly records in 1992. However, Friday’s figures are below expectations, with a Reuters poll of economists […]
Read More…CBN slams N30 bln debit on Zenith Bank, N10 bln on SCB By Oludare Mayowa Nigeria’s interbank lending rate rose sharply on Friday by 13.33 percent to 28.33 percent for overnight placement after the Central Bank of Nigeria (CBN) slammed N93.4 billion Cash Reserves Requirement (CRR) debit on banks. The interest rate on overnight placement […]
Read MoreGhana has signed an agreement with cocoa and chocolate companies to accelerate collaboration to protect and restore forests in the country’s cocoa-growing areas. With the agreement, the World Cocoa Foundation (WCF) and the Forestry Commission of Ghana (GFC) are building a partnership to further align the Ghana Cocoa Forest REDD+ Programme (GCFRP) and the Cocoa […]
Read More…AfDB pledges $300 mln support By Samuel Bankole Nigeria plans to set up a Special-Agro Industrial Processing Zones (SAPZ) Programme aimed at concentrating agro-processing activities in demarcated areas to boost productivity and integrate production, processing and marketing of selected commodities. According to Vice President Yemi Osinbajo, the project would be in partnership with the African […]
Read More…Proposes setting up of presidential commission on cryptocurrency The Abuja Chamber of Commerce and Industry (ACCI) has urged the federal government to set up a Presidential Commission to review cryptocurrency policy frameworks globally as a step toward providing clear direction for the adoption of digital currency policy in the country. The chamber in a statement […]
Read More…Lagos leads in IGR, follows by Rivers By Oludare Mayowa Nigeria 36 states and the federal capital territory, Abuja Internally Generated Revenue (IGR) fell 1.50 percent to N1.31 trillion in 2020, the National Bureau of Statistics (NBS) said in its latest report. The sub-nationals generated N1.33 trillion in IGR in 2019, an indication […]
Read MoreUp to 65,000 people in northeastern Nigeria are on the run after an attack by armed groups on Wednesday in which 8 people were killed and at least a dozen injured, the U.N. refugee agency said on Friday. “Following the latest attack on Wednesday 14 April, the third in just seven days, up to 80 […]
Read MoreTrue data on Nigeria crude oil production, especially at the deep offshore fields, is not known by anyone, the Nigeria Extractive Industries Transparency Initiative (NEITI) has said. According to the NEITI Executive Secretary, Orji Ogbonnaya-Orji, the exact amount of crude oil produced in Nigeria had remained unknown because of the absence of meters at wellheads […]
Read MoreThe Director-General of the Securities and Exchange Commission (SEC), Lamido Yuguda, has said that some capital market operators (CMO) are frustrating the electronic-dividend (e-dividend) mandate process and has vowed to sanction such operators. “The commission has observed that certain Capital Market Operators (CMOs) frustrate the e-dividend mandate process. “We have observed that the growth in […]
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