Economy
Nigeria’s oil output drops 23.8% to 1.024m bpd — OPEC
NIGERIA’s oil output dropped Year-on-Year, YoY, by 23.8 per cent to 1.024 million barrels per day, mbpd, in May 2022, from 1.344 mbpd recorded in the corresponding period of 2021, according to the Organisation of Petroleum…
Shippers’ Council task force saves N6.5bn in demurrage cost
At the backdrop of renewed fight against inefficiency and corruption at the Nigeria’s ports industry, the Port Standing Task Team, PSTT, of the Nigerian Shippers Council, NSC, has reported a significant reduction in vessel…
Oil market: High crude prices shoot aviation fuel by 121.4% to N620 per litre
THE price of aviation fuel has increased by 121.4 per cent to N620 per litre in June 2022, from N280 per litre in the corresponding period of 2021, due mainly to the rising price of crude oil in the international market.The…
PenCom recovers N422m from defaulting employers
The National Pension Commission (PenCom) said it recovered N422.34 million from employers who failed to remit pension contributions by their employees to respective pension fund administrators (PFAs) in the first quarter of…
Seme Customs impounds 10,865 kegs of fuel with N66m DPV
The Nigeria Customs Service, NCS, Seme Command, said it impounded 10,865 jerry-cans of Premium Motor Spirit, PMS, with a Duty Paid Value, DPV of N65.6 million from January 2022 to date.Customs Area Controller, Seme Command,…
Naira gains, exchanges at N421.25 to dollar at Investors, Exporters window
The Naira on Friday appreciated at the Investors and Exporters window, exchanging at N421.25 to the dollar, a 0.30 per cent appreciation against N422.50 traded on Thursday.The open indicative rate closed at N419.34 to the…
PORTS DECONGESTION: Apapa Port still overloaded
Efforts to decongest ports in Lagos seem to fail as shippers moved 92.28 percent of Nigeria’s total exports and 60.77 percent of imports through the Apapa port in the first quarter of 2022 (Q1’22).This means that the…
Access Bank to acquire Kenya’s Sidian Bank for N15bn
Access Bank Plc has entered into an agreement to acquire the entire 83.4 per cent equity stake held by Centum Investment Plc, a Kenyan-based investment company, in Sidian Bank Ltd, for the sum of about N15 billion ($37…
London Stock Exchange lauds Orjiako’s achievements at Seplat
The London Stock Exchange (LSE) on Wednesday celebrated the achievements of Dr ABC Orjiako, the pioneer chairman of Seplat Energy Plc.Seplat which is listed on both Nigerian Exchange Limited (NGX) and London Stock Exchange is…
UBA redeems $500m 5-year Eurobond
The United Bank for Africa (UBA) on Wednesday, redeemed its debut $500 million 5-year Eurobond notes with the maturity date of June 8, 2022.The bank in a statement stated: “ Issued in 2017, the five-year bond was offered at a…
ZENITH BANK
