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All posts by BusinessNews Staff

  • China reduces import of Nigerian crude oil

    Nigeria saw its share of China’s crude oil imports shrink by 7.5 per cent last year as the world’s largest energy consumer reduced its import of Nigerian crude to 10.56 million barrels. China’s crude import from Nigeria...

    • Posted April 1, 2016
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  • FAAN seeks investors to develop airport facilities

    To improve efficiency and render better services to the flying public, the Federal Airports Authority of Nigeria has said that it is seeking private investors for the development of infrastructure across the nation’s airports. The Managing Director,...

    • Posted April 1, 2016
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  • Power generation falls to 2,030MW

    The total generated electricity on Wednesday fell to 2,030.5 megawatts from the over 5,000MW peak recorded earlier this year. Data obtained from the power System Operator in Abuja on Wednesday showed that as of 8.37am, electricity generation...

    • Posted April 1, 2016
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  • Oando, Seplat count losses as oil slump bites

    The steep fall in global crude oil prices has left two of the country’s indigenous independent oil and gas firms, Oando Energy Resources Inc and Seplat Petroleum Development Corporation Plc, with a rising debt profile following a...

    • Posted April 1, 2016
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  • Relief as PPPRA slashes NNPC’s allocation for Q2 fuel imports

    The Petroleum Products Pricing Regulatory Agency (PPPRA) has released the second quarter petrol import allocations to the Nigerian National Petroleum Corporation (NNPC) and the private oil marketing companies, a development that will potentially ease the current product...

    • Posted April 1, 2016
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  • Petrol scarcity: Kachikwu, IPMAN agree on major intervention measures

    The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu and members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have reached an agreement which would see IPMAN play a major role in the distribution of...

    • Posted April 1, 2016
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  • FirstBank unveils enhanced features on mobile banking app, FirstMobile

    As part of its effort to boost convenience and ease of banking as well as enhance customers’ digital banking experience in line with its commitment to offer value-added products and services that suit the lifestyles of its...

    • Posted March 31, 2016
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  • Dangote Group promises to end fuel crises with new refinery

    The Dangote Group, which is currently building what it calls the world’s largest refinery, has given an assurance that when the plant comes on stream, it will put an end to the recurring fuel crises in the...

    • Posted March 31, 2016
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  • Oil falls below $40

    Global oil benchmark, Brent crude, fell on Tuesday, reflecting growing concerns that a two-month rally might be fading, as supply looked set to keep rising and there appeared to be little immediate prospect of demand keeping pace....

    • Posted March 31, 2016
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  • We’ve been selling forex to airlines – CBN

    The Central Bank of Nigeria has described claims by some airlines that they are unable to access foreign exchange to repatriate the proceeds of their operations as untrue. A number of airlines operating on international routes from...

    • Posted March 31, 2016
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