Category: Economy
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Oil prices fall on demand fears as U.S. summer driving season ends
Melbourne, Sept. 8, 2020 Oil prices fell on Tuesday amid concerns over fuel demand as the peak U.S. driving season drew to a close and the U.S. Labour Day long weekend added to worries over rising coronavirus cases in more U.S. states. Coronavirus cases rose in 22 of the 50 U.S. states, a Reuters’ analysis…
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Crude affreightment: NIMASA revives move to change terms of trade
The Nigerian Maritime Administration and Safety Agency (NIMASA), says it has revived efforts to change the Terms of Trade for the affreightment of Nigerian crude oil from Free on Board (FOB) to Cost Insurance and Freight (CIF). The Director-General of NIMASA, Dr Bashir Jamoh, disclosed this in a statement signed by Mr Philip Kyanet, Head,…
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Energy conference ‘ll enrich national discourse on sustainable electrification- NEF
The 2020 Nigeria Energy Forum (NEF- 2020) Virtual Mini-conference will strengthen and enrich national discourse on sustainable electrification and clean energy investments. Dr Daniel Adeuyi, the Chairman, Nigeria Energy Forum (NEF), made this known on Sunday in Lagos, saying that the programme was being organised by the forum. Adeuyi said: “The virtual conference series is…
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Mouka reaffirms commitment to consumers’ wellbeing, quality product
The Chief Executive Officer of Mouka, Raymond Murphy, says the company will continue to engage stakeholders on innovating and renovating the product’s portfolio to make it exciting and appealing to consumers. Murphy said Mouka, being the Nigeria’s foremost manufacturer of mattresses and beddings, spoke at a virtual stakeholders’ engagement in Lagos on Sunday. He said…
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NSE: Investors stake N3.79bn on 419.66m shares in bullish trading
The Nigerian Stock Exchange (NSE) on Friday moved 419.66 million shares worth N3.79 billion in bullish trading. This was against a turnover of 232.42 million shares valued at N1.32 billion traded in 3,377 deals on Thursday, representing an increase of 80.56 per cent. Lasaco Insurance dominated the activity chart, accounting for 90.59 million shares worth…
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BVN to determine payment of stipends for 774,000 Jobs – FG
The Federal Government says that successful applicants for the 774,000 jobs slot, under the Extended Special Public Works Programme, will be paid through bank accounts, using Bank Verification Numbers (BVN). Mr Festus Keyamo, Minister of State for Labour and Employment, said at a news conference he jointly addressed with Director-General, National Directorate of Employment (NDE),…
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Interim dividend: NSE market capitalisation up N26bn
The nation’s bourse sustained positive rally on Thursday with the market capitalisation increasing by N26 billion on the back of interim dividends declared by some banks. The market capitalisation which opened at N13.282 trillion rose by N26 billion or 0.20 per cent to close at N13.308 trillion. Also, the All-Share Index grew by 51.02 points…
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Naira strengthens against dollar
The Naira on Thursday gained one point to appreciate against the dollar at the parallel market in Lagos. The News Agency of Nigeria, (NAN) reports that the Naira exchanged at N439 to a dollar at the parallel market in Lagos, while Pound Sterling and the Euro closed at N580 and N495 respectively. Investors at the…
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NlPR urges FG to rescind decision on new pump price, electricity tariff
The Nigerian Institute of Public Relations (NIPR), Kwara chapter, has urged the Federal Government to rescind its decision on new prices of petrol and electricity tariff. The NlPR made the plea in llorin on Thursday in a statement jointly signed by its state Chairman, Dr Saudat AbdulBaki, and Secretary, Alh. AbdulRahman Sanni According to it,…
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Reps minority caucus rejects rise in fuel pump price
The minority caucus in the House of Representatives, has rejected the increase in pump price of fuel from N148 to N151. 56 announced by the Petroleum Product Marketing Company (PPMC) on Wednesday. The lawmakers, in a statement , said that the increment was unacceptable as it would result in increase in the already high cost…