On Monday, the Nigerian Naira experienced a depreciation against the US Dollar, reaching an exchange rate of N747.87 at the Investors and Exporters window. This marked a 1.01% decline compared to the N740.38 rate observed at the close of business on September 1. The open indicative rate concluded at N772.06 to the dollar during Monday’s Read More…
Business
Eni to sell Nigerian onshore subsidiary to Oando amid energy sector shakeup
In a strategic move indicative of the evolving landscape in Nigeria’s energy sector, Italy’s Eni has agreed to divest its Nigerian onshore subsidiary, Agip Oil Company Ltd (NAOC), to the local firm Oando. The deal, announced on Monday, marks yet another international energy giant relinquishing onshore assets in this West African nation. Eni’s decision aligns Read More…
Nigeria’s Electric Odyssey: Challenges, Progress, and the Road Ahead
Electrical power is essential in today’s homes, businesses, and manufacturing facilities. In Nigeria, as in the rest of the world, we rely heavily on it. However, the development of Nigeria’s electricity market has been fraught with challenges and opportunities that have far-reaching effects. Let your mind wander to a time when the lights came on, Read More…
Nigeria’s oil output rises due to security improvements
Nigeria’s daily oil and condensate production has surged to 1.67 million barrels, marking a notable increase from the approximately one million barrels per day recorded just a few months ago. Mele Kyari, the Group Chief Executive of the state-owned Nigerian National Petroleum Corporation (NNPC), recently revealed that this transformation is due to increased security measures Read More…
Wale Edun unveils Tinubu Government’s bold economic vision
In a significant development, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has unveiled a comprehensive agenda aimed at transforming the nation’s challenging economic landscape. Speaking during his inaugural press briefing in Abuja, Edun shed light on President Bola Tinubu’s visionary approach and strategies for revitalizing the economy. Edun outlined several Read More…
Nigeria Boosts OPEC Output in August
Nigeria played a significant role in the recent uptick in OPEC oil output in August, as revealed by a Reuters survey. Despite ongoing efforts by Saudi Arabia and other members of the broader OPEC+ alliance to stabilize the oil market, the Organization of the Petroleum Exporting Countries (OPEC) experienced a boost in production during the Read More…
Bi-Courtney Aviation Services prepares MMA2 Terminal for regional flights despite delays
In a proactive stride towards realising regional flight operations, Bi-Courtney Aviation Services Ltd (BASL) has affirmed its preparedness to commence operations at the Murtala Muhammed Airport Two (MMA2) terminal. Mr. Blessing Ewah, the Head of Operations at Bi-Courtney, shared this disclosure during an exclusive regional facility tour with journalists at the terminal in Lagos on Read More…
FMDQ Group empowers young minds in financial markets through Next Generation programme
The recent culmination of the Next Generation Financial Markets Empowerment by FMDQ Group Plc. in Lagos saw no fewer than 130 pupils and students reap the benefits of this enriching initiative. The 2023 Summer Camp Programme took place at the FMDQ premises at Exchange Place in Lagos, offering a unique platform for learning and growth. Read More…
NGA-WIEN alliance ignites women’s advancement in energy sector
In a groundbreaking stride toward gender inclusivity, the Nigerian Gas Association (NGA) has unveiled a pioneering initiative that offers a fresh horizon of opportunities for women to thrive within the oil and gas sector. The NGA’s recently established Diversity, Equity, and Inclusion (DEI) Study Group is set to not only redefine norms but also to Read More…
Nigeria’s Unemployment Rate Decreases to 4.1% in Q1 2023
The unemployment rate in Nigeria has fallen to 4.1% during the first quarter of 2023 from 5.3% in the fourth quarter of 2022, according to Mr. Adeniran Adeyemi, the Statistician General of the Federation and CEO of the National Bureau of Statistics (NBS). This announcement was made during the inauguration of the New Nigeria Labour Read More…