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Nigeria’s Oil Production Cost Down to $23/Barrel

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The Nigerian National Petroleum Corporation (NNPC) has driven down the cost of crude oil production from $78 dollars per barrel as at August 2015 to $23 per barrel representing 70.5 per cent reduction. The Group General Manager of National Petroleum Investment Management Services (NAPIMS), a unit of NNPC, Engr. Dafe Sejebor, who disclosed this during the inauguration of the Anti-Corruption ...

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Why Nigeria’s economy can’t do without insurance industry, by Akin Ogunbiyi

Akin-Ogunbiyi

Let me start by saluting fellow stakeholders in the Nigerian Project, highly distinguished leaders of the Print Media who have now been pulled-over to online publishing. A practical approach or strategy to achieving relevance, especially from the point of view of value-addition, is to follow the trend. I am glad that the theme of this conference is: “Sustaining Growth through ...

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GTBank Posts Profit before Tax of ₦101.1bn in 6 Months

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Guaranty Trust Bank plc has released its audited financial results for the half year ended June 30, 2017 to the Nigerian and London Stock Exchanges. A review of the half year performance, shows positive growth across all key financial metrics and improved strategic positioning of the brand. Gross earnings for the period grew by 2% to ₦214.1billion from ₦209.9billion reported ...

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CBN injects $364 m into Inter-Bank Forex Market

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ABUJA – The Central Bank of Nigeria (CBN) on Tuesday, August 15, 2017, intervened in the Inter-Bank Foreign Exchange Market to the tune of $364million in a bid to sustain liquidity in the market. A breakdown of Tuesday’s forex intervention indicates that the Retail Secondary Market Intervention Sales (SMIS) received the largest allocation of $264,192,252.95. The CBN also offered the sum of ...

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NAN set to entice subscribers with considerable rates

The News Agency of Nigeria on Monday said the Agency was set to entice its online subscribers with considerable rates. The Agency’s Head of Lagos Operations, Kate Popoola, announced this at a meeting with leaders of the Guild of Corporate Online Publishers in Lagos. According to Popoola, the agency will ensure that such online operators are able to subscribe to ...

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Nigerian States Are Undiscovered Jewels – Osinbajo

Osinbajo-Niger-summit

In a speech that highlighted the tremendous local and international economic potentials of States of the Nigerian Federation, Acting President Yemi Osinbajo, SAN, says just one State in the country, Niger State, with its rich agricultural potentials and resources should develop the capacity to feed both the country and about half of the African continent. “Indeed, this State like most of Nigeria ...

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Heritage Bank, RIMAN, FDC enjoin firms to embrace modern risk mgt. practices

Heritage Bank logo

Heritage Bank Plc, Risk Managers Association of Nigeria (RIMAN) and Financial Derivatives Company Limited have called on corporate organizations to adopt systemic and cultural changes to embed risk management into their organisations in a bid to manage uncertainties that may arise at any given time. At the 17th Annual Conference organized by RIMAN in partnership with Heritage Bank Plc was attended ...

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Lagos closes N85.14bn series 2 Bond Issuance Programme

Bond

Lagos State Government on Monday announced the closure of the N85, 140,000,000 Series 2 Bond Issuance geared towards improving the physical and social infrastructure in the State. Commissioner for Finance, Mr. Akinyemi Ashade in a statement, said the Bond was issued in two tranches of N46,370,000,000 16.75 percent Tranche 1 maturing August 2024 and the N38,770,000,000 17.25 percent Tranche 2 ...

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WorldStage Summit 2017 to explore innovation for economic transformation

WES-LOGO

All is set for the WorldStage Economic Summit 2017 with the Theme: ‘Transforming Business and Economy Through Innovation’ at the Event Centre, the Nigerian Stock Exchange (NSE), Lagos on Wednesday, August 23, 2017 by 9.30AM. In a statement by World Stage Limited, the organisers, the summit will attract participation from the Presidency, National Assembly, MGAs, State Governments, OPS- Oil and ...

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ntel: We’re just making economic sense

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By Sufuyan Ojeifo and Ariyo Dare-Atoye The Muhammadu Buhari government should do the needful by blocking some entrenched political interests who are in the habit of exploiting the influence and authorities of the state to takeover businesses they never laboured for. This habit is a product of politically-induced conspiracies that have been on for decades.  Sadly, this conspiracy is rearing its ugly ...

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