All posts by BusinessNews Staff

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  NUPENG cautions FG against continued drop in crude oil refining

  The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has expressed concern over the current drop in petroleum product output from the refineries, describing the development as unfortunate for the oil and gas industry. It warned...

  • Posted December 4, 2014
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  Fuel scarcity looms over delayed subsidy payments

  The reluctance of some oil marketers to import petrol owing to alleged non-payment of subsidy arrears and the subsequent reduction in loading activities at the Apapa depots are currently putting serious pressure on product supply across the...

  • Posted December 4, 2014
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  NSE index sheds 1.07%

  The equities market closed on a negative note for the third straight session on Tuesday as investors gave in to selling pressure. After recording gains for three sessions, following the announcement of the devaluation of the naira,...

  • Posted December 4, 2014
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  SON bill passes second reading in Senate

  A bill seeking stiffer punishments for importers of substandard products into Nigeria, scaled second reading in the Senate on Tuesday. The bill also seeks to repeal and re-enact the standards Organisation of Nigeria Act 2004 for the...

  • Posted December 4, 2014
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  Equities value falls by N208bn

  The Nigerian Stock Exchange closed on a negative note on Monday as the market capitalisation of the listed equities fell by N208bn or 1.82 per cent from N11.404tn to N11.196tn. Also, the NSE All Share Index declined...

  • Posted December 4, 2014
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  Aviation agencies to contribute 25% of earnings to FG

  The Minister of Aviation, Osita Chidoka, on Tuesday said henceforth aviation agencies must be contributing 25 per cent of their revenues to the federal government. Chidoka said this was to ensure that the parastatals did not squander...

  • Posted December 4, 2014
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  Alison-Madueke to focus on energy security, market balance as OPEC’s President

  The newly elected president of the Organisation of Petroleum Exporting Countries (OPEC) and Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has said her one year reign at the helm of affairs of the organisation will be dominated...

  • Posted December 3, 2014
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  Investors sign $890m financing for Azura-Edo IPP

  Azura Power Holdings Limited and other stakeholders have signed the equity and loan financing documents for the financing of its Azura-Edo Independent Power Project (IPP) in Benin, Edo State. The signing of the financing contracts is a...

  • Posted December 3, 2014
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  FG to slash 2015 budget benchmark

  The Federal Government is considering a further reduction in the budget benchmark price of oil from the current $73 per barrel to a much lower price. The move followed the sharp decline in the price of crude...

  • Posted December 3, 2014
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  Falling oil prices will not affect Nigerian Content – Nwapa

  The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Ernest Nwapa has stated that the current volatility in the prices of crude oil at the international market, which has seen investors selling their...

  • Posted December 3, 2014
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