Oil
AU welcomes Nigeria ahead of AfCFTA kick-off
The African Union Commissioner for Trade and Industry, Albert Muchanga, said in Addis Ababa on Friday that instruments signifying Nigeria’s entry into the African Continental Free Trade Area (AfCFTA) will be received at the commission’s headquarters shortly ahead of next year’s kick-off of trading. Speaking during the AfCFTA Business Forum 2020 to discuss the status of preparations to launch the continental trading, Muchanga said the launch of trading will facilitate the growth of African enterprise and enhance the capacity of industries producing goods to a wider population. Nigeria, which signed the AfCFTA agreement in 2019, officially ratified the agreement on 12 November. The instruments of ratification are expected to be received at the AU on Saturday, 5 December, the deadline for the...
Senate threatens labour ministers over absence at hearing
The Senate Committee on Local Content has threatened to sanction the Ministers of Labour and Employment, Chris Ngige and Festus Keyamo, over their failure to appear at an investigative hearing on diving operations in the oil and gas industry. It also threatened to sanction the managing directors of international oil companies (IOCs) in Nigeria for the same reason. The IOCs MDs include ExxonMobil, Total and Chevron. The chairman of the committee, Teslim Folarin, said this at the hearing on Thursday after they all failed to show up for the event which was meant to review the challenges experienced by diving operators in the sector. The invitation followed a debate on a motion on the urgent need to ensure strict compliance with statutory regulations and provisions on Nigerian diving sector. P...
Naira weakens to lowest in three years
The Naira yesterday weakened to the lowest in over three years in the parallel market due to increased demand for dollars amid foreign-currency shortages. The local currency depreciated to N495 to a dollar yesterday, lowest since February 23, 2017, widening the gap with the official rate of N379.5 to over 30 per cent. The currency traded in the interbank market at 389.74 as of 4:54p.m. in Lagos. Agency reports quoted traders as alleging a groundswell of diversion of dollars, a development which heightened scarcity of the green back in the parallel market this week. There is a diversion of inflows away from official channels to the parallel market due to the gap in rates, Murega Mungai, trading desk manager for Aza Finance said in a note Thursday. The market spread has created arbitrage opp...
Nigerian government seeks new Eurobond
The federal government yesterday disclosed that it would approach the Eurobond market next year in its effort to shore up the economy, amidst cocktails of measures being put in place to douse the effects of the Covid-19 pandemic on the economy. On the same day, Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, while speaking at the 55th Annual Bankers Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, predicted a two per cent growth in the country’s Gross Domestic Product (GDP) in 2021. Finance Minister, Zainab Ahmed, who disclosed the Eurobond plan while speaking on Bloomberg TV, explained that the decision would depend on the prevailing interest rates. She, however, did not specify the amount to be accessed from the Eurobond. The Eurobond option is ...
NAFEST: Nigeria will lead the world – Senator Okorocha
Sen. Rochas Okorocha, Chairman, Senate Committee on Culture and Tourism, has expressed greater hope that Nigeria will definitely lead the world with the vast culture and tourism potential. Okorocha said this at opening ceremony of the 33rd National Festival of Arts and Culture (NAFEST) held at Rwang Pam Township Stadium, Jos, Plateau on Monday. The theme of the event was “COVID-19 and Cultural Dynamism”. The lawmaker advised Nigerians generally to keep hope alive as the COVID-19 pandemic and the ENDSARS protests which had caused lots of havoc to the nation would be forgotten issues with time. He said Nigeria was only going through a phase that would lead to greatness as some other countries had experienced in the past. He noted that the two incidences had aggravated the nation’s problems o...
Nigerian government orders parked trucks, trailers on Lagos-Ibadan Expressway to vacate
The Federal Government has ordered trucks and trailers parking on the Lagos-Ibadan Expressway to vacate with immediate effect. The post Nigerian government orders parked trucks, trailers on Lagos-Ibadan Expressway to vacate appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Mele Kyari: NNPC will declare dividends in 2020 in spite of coronavirus
Mr Mele Kyari, Group Managing Director, Nigerian National Petroleum Corporation (NNPC) says he is optimistic that the corporation will declare dividends in 2020 in spite of the challenges posed by the COVID-19 pandemic. The post Mele Kyari: NNPC will declare dividends in 2020 in spite of coronavirus appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
SEC: Governments can unlock potentials by privatisation
The Securities and Exchange Commission, SEC, has stated that the Federal and State Governments have the capabilities to unlock enormous potentials through privatisation. The post SEC: Governments can unlock potentials by privatisation appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Lagos chamber advises central bank on tackling inflation
The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to address the supply side variables impacting domestic prices. The post Lagos chamber advises central bank on tackling inflation appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Senator Lawan: Fresh mass protests inescapable if…
Senate President Ahmad Lawan has warned that Nigeria may not escape another mass demonstration in the mode of #EndSARS protest if the Federal Government fails to effectively address youth unemployment. Lawan gave the warning in Abuja yesterday at the 2021 budget defence of the Ministry of Agriculture. He urged the government to take practical steps in its 2021 budget to meaningfully engage the youths. “Our budget, especially for 2021, should be mindful of what we do to provide employment opportunities for these youths. “They demonstrated. They protested because they could do so. There are so many other people who may not be youthful but are also in the same need and they didn’t protest. “Let’s meet them where they are. We don’t have to wait until they also try to grumble or protest. We sho...
Bristow Helicopters fires 100 pilots, engineers over coronavirus effect on operations
Bristow Helicopters has announced the sack of about 100 pilots and engineers following the devastating effect of the coronavirus pandemic on its operations and finances. The announcement comes barely 24 hours after Air Peace announced the sack of about 70 pilots citing the pandemic’s effect on its finances. The post Bristow Helicopters fires 100 pilots, engineers over coronavirus effect on operations appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Oil marketers condemn planned protest, shutdown over fuel price hike
AHA Taxis Oil marketers, under the aegis of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), yesterday, kicked against attempts by some labour groups and trade associations to stage a protest march in opposition to the recent hike in the price of Premium Motor Spirit, also known as petrol. The Nigeria Labour Congress (NLC), United Labour Congress (ULC) and some other oil marketing groups had threatened to embark on a nationwide strike over the hike in petrol price, while they called on the government to revert to the previous price. In a statement in Abuja, National President of PETROAN, Dr. Billy Gillis-Harry, stated that while its members are not happy with the way certain things are in the downstream petroleum industry at the moment, they do not think any stree...
