Business

Nigeria may face the scarcity of Premium Motor Spirit, popularly called petrol, in coming days as oil workers have been ordered to down tools nationwide. Oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria were ordered by the association to vacate their duty …

 World markets advanced Monday as investors evinced relief over the end of U.S. presidential election limbo after Joe Biden was declared the president-elect. France’s CAC 40 jumped 1.7% in early trading to 5,045.70, while Germany’s DAX surged nearly 2.0% to 12,724.48. Britain’s FTSE 100 gained 1.3% to 5,987.32. U.S. shares …

Executive-Secretary-Pension-Transitional-Arrangement-Directorate-Sharon-Ikeazor The Federal Government has warned that the exploration of hydrocarbon in reserves must be done in an environmentally sustainable and friendly manner. Minister of State for Environment, Sharon Ikeazor, gave the warning in her remarks at a stakeholders’ meeting on the Environmental Impact Assessment of the proposed Ameshi and …

The federal government last Wednesday said the crude oil exploration in the Lake Chad Basin will commence soon. The oil exploration in the area was suspended by the Nigerian Government in July 2017 after suspected members of Boko Haram sect attacked a team of geological engineers from the University of …

The Group Head of Tax, Nestoil, Stanley Ezekobe, has advised the federal government to prioritise transaction-based taxes such as Value Added Tax (VAT). Ezekobe, who disclosed this recently at a virtual media roundtable organised by the Nestoil Group said while other forms of tax such as company income tax, are …

The Nigerian bourse on Thursday closed lower to reverse the previous day’s gain as bears regained their grip following the sell-off that has persisted on the equities market. Market breadth closed positive as Transcorp lead 17 other losers to close the trading session on the negative. Consequently, the All-Share Index …

The Minister of Finance, Budget and National Planning, Zainab Ahmed, said on Thursday that the resurgence of COVID-19 pandemic in Europe may affect the 2021 budget estimate. She said her ministry did not anticipate the second phase of the pandemic, which has caused the oil price to decline in the …

Taraba State Governor, Darius Ishaku, on Thursday, called for the establishment of an Export Processing Zone in Taraba State. Ishaku made the call during a meeting with the management of the Nigeria Export Processing Zone Authority. The governor said the establishment of the zone would help the state in promoting …

 The Board of Directors of the African Development Bank Group and the Africa Investment Forum founding partners have approved the postponement of the 2020 Africa Investment Forum to 2021, due to the ongoing COVID-19 pandemic. The AfDB said in a statement on Wednesday that the annual three-day investment marketplace was …

 The Central Bank of Nigeria has expressed concern over the rising cost of debt service being incurred by the Federal Government. The CBN, in its half-year 2020 economic report, said the trajectory of Federal Government’s debt further constrained fiscal policy during the period, as interest payment obligations amounted to N1.15tn …