AMNI International Petroleum Development Company says the arrival of a drilling rig at Okoro Field reinforces confidence in Nigeria’s indigenous oil and gas industry. Its Chairman and Chief Executive, Dr Tunde Afolabi, in a statement issued on Sunday in Lagos, said that the mobilisation remained “a defining operational milestone for the company”. He also said…
The Nigeria Export Processing Zones Authority (NEPZA) has expressed partnership with the Borno State government to revive the moribund Banki Free Trade Zone. The Managing Director of NEPZA, Dr Olufemi Ogunyemi, made this known during a courtesy visit by the Governor of Borno State, Prof. Babagana Zulum, in Abuja. Ogunyemi, who is also the Chief…
Dr Titus Okunrounmu, former Director, Research Department, Central Bank of Nigeria (CBN), has lauded the Monetary Policy Committee (MPC) for cutting interest rate by 50 basis points. Okunrounmu gave the commendation in an interview with the News Agency of Nigeria (NAN) on Wednesday in Ota. He said that the MPC’s decision to lower the rates…
The Central Bank of Nigeria (CBN) says 20 Nigerian Banks have already met the new minimum capital requirement in the ongoing bank recapitalisation exercise. The Governor of the CBN, Mr Yemi Cardoso, made this known on Tuesday in Abuja while presenting the communiqué from the 304th meeting of the apex bank’s Monetary Policy (MPC). The…
The Central Bank of Nigeria (CBN) says its decision to reduce the Monetary Policy Rate (MPR) by 50 basis points was partly informed by sustained deceleration in year-on-year inflation. The CBN Governor, Yemi Cardoso, said this on Tuesday in Abuja while presenting the communiqué from the 304th meeting of the Monetary Policy Committee (MPC). The…
The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has reduced the Monetary Policy Rate (MPR) by 50 basis points to 26.50 per cent from 27 per cent, the CBN Governor, Yemi Cardoso, announced. Cardoso made the disclosure on Tuesday at the 304th MPC meeting in Abuja. The News Agency of Nigeria (NAN) reports that…
Al-Habibiyah Islamic Society has called on the Federal Government to remove tax on charitable properties to enable the new tax law work effectively. Its National Chief Imam/Executive Director, Imam Fuad Adeyemi, made the call on Sunday at the 23rd Annual Ramadan National Unity Lecture in Abuja. The theme of the lecture was “Making the New…
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has presented the Ministry’s 2025 budget performance and 2026 budget proposal to the Joint Committee of the Senate and House of Representatives on Petroleum Resources. A statement issued on Tuesday by Chris Ugwuegbulam, Head, Press and Public Relations Unit, said Lokpobiri made the presentation on…
President Bola Tinubu has commended the signing of a strategic Memorandum of Understanding (MoU) between Nigeria’s BUA Group and UAE-based AD Ports Group and MAIR Group in Abu Dhabi. This is contained in a statement issued by Presidential Spokesperson, Mr Bayo Onanuga, on Monday in Abuja. Tinubu described the agreement as a major industrial and…
The National Sugar Development Council (NSDC) and the Nigerian Export-Import Bank (NEXIM Bank) are partnering to mobilise a long-term, development-oriented financing for the transformation of Nigeria’s sugar industry. The Executive Secretary/Chief Executive Officer, of NSDC, Mr Kamar Bakrin, said thisbwhen he led a delegation to visit the Managing Director of NEXIM in Abuja. Bakrin proposed…
