archiveNovember 2016

Supply will drop to 32.5 million barrels a day from January Benchmark Brent crude prices climb in London to top $50 OPEC clinched a deal to curtail oil production for the first time in eight years, confounding skeptics as the group struggles to clear a record global glut and prove...

Mobil Oil Nigeria Plc (MON) has said it has received notice from ExxonMobil Oil Corporation (EMOC) on a formal application by NIPCO Investments limited, to purchase 216.4 million ordinary shares of Mobil Oil Nigeria for $301 million. A regulatory filing obtained from the Nigerian Stock Exchange noted that this development...

Following two consecutive trading sessions in which the equities market closed negative, the Nigerian Stock Exchange All-Share Index (NSE ASI) gained 0.03 per cent on Wednesday. The market performance was largely driven by the bargain trading in Guaranty Trust Bank Plc and Zenith Bank Plc. Guaranty Trust Bank traded 23.3...

Nigeria's official foreign exchange reserves rose for the first time in 15 months to $24.69 billion on November, 28, 2016. The Central Bank of Nigeria (CBN) data showed on Wednesday. According to Reuters’ report monitored by Business247 News Online,  this means that the reserves up 3.1 per cent on the...

Abia State Polytechnic, Aba, has concluded all arrangements to kick start the Made-in-Aba products campaign which was recently inaugurated by Governor Okezie Ikpeazu. Already, the institution has taken the bold step to make waste conversion and disposal equipment locally. Abia State Government, under the leadership of Dr Okezie Ikpeazu, successfully...

As a result of public outcry and timely intervention of the Senate of the Federal Republic of Nigeria, the Nigerian Communications Commission (NCC)  on Wednesday announced the suspension of the planned data tariff increase across the networks operating  in the country. NCC announced the immediate suspension of the new minimum...

More winners have emerged in the DiamondXtra directorate draw where 41 lucky customers were rewarded with cash prizes and a star prize of a Hyundai SUV at the season 8 grand finale draw held in Lagos recently. Speaking at the event that was held in Lagos, Head, Retail Performance, Lagos/West...

As the battle for the soul of annuity business continues between insurers and pension operators rages in the wake of the recent circular by the National Pension Commission (PenCom) mandating life insurers to surrender the N145.05 billion annuity fund in their disposal to Pension Fund Custodians (PFCs), insurance sector  may...

By Nkem Ndem Long queues and delays are not new to commuters at the Nigerian airports. From the ticket stalls to the check-in counters and even canteens at the waiting area, travellers find themselves caught up in very long and slow queues which become not only intensely boring and monotonous...

Says it can sell for N70/litre profitably House of Representatives were convinced that the present economic hardship Nigerians are currently confronted with has its root in the increase of the pump price of petrol from N86.50 to N145 per litre in May this year  and it has therefore called on...