Total records 70% slump in 2019 full-year profit

Oil and gas exploration and production powerhouse, Total Nigeria Plc, has declared a 70% plunge in its Full Year 2019 after-tax profit compared to the corresponding period of 2018. This and other... Read more »

UBA, Zenith banks’ boards approve final dividend

Union Bank to sell UK subsidiary The boards of directors of two of Nigeria’s five largest banks – Zenith Bank International Plc and United Bank for Africa (UBA) Plc – have approved... Read more »

Nigeria’s oil, gas exports in 12 months stands at $5.49bn

Nigeria exported $5.49 billion worth of crude oil and gas between October 2018 and October 2019, a report by the Nigerian National Petroleum (NNPC) indicates. The report indicates that crude oil export... Read more »

OPEC considers further oil cuts as price slides below $60

There are indications that the Organisation of Petroleum Exporting Company (OPEC) and its allies might extend its current production cuts or even deepen them to buffer excessive price slides arising from the... Read more »

NLNG signs 10-year LNG supply deal with Eni

Nigeria Liquefied Natural Gas (NLNG) has signed a deal with Italian energy major Eni for the supply of 1.5 million tonnes of LNG per year, the African producer said in a statement... Read more »

Zenith Bank empowers Nigerian SMES, partners facebook on SME digital workshop

Zenith Bank Plc has reaffirmed its commitment to support local Small and Medium Scale Enterprises (SMEs) with the introduction of the ‘Zenith Bank SME Digital Workshop’ to provide free digital training for... Read more »

Lekoil pleased with output of Otakikpo field in Nigeria

Lekoil Ltd has announced a “steady” performance from the Otakikpo field in Nigeria, amid financial turmoil for the oil producer after being duped by fake investors. For 2019, Otakikpo produced 5,305 barrels... Read more »

NIMASA begins monitoring of imported fuel for ships

The Nigerian Maritime Administration and Safety Agency (NIMASA) has warned that any fuel being imported into Nigeria for ship bunker must meet international conditions in line with implementation of the International Maritime Organization... Read more »

Telcos earned N2.78tr from airtime sales, others in 2019 – Report

Telecommunication operators, especially Mobile Network Operators (MNOs) in Nigeria, earned about ₦2.78trillion last year from airtime sales and others. Reports say that the 2019 earnings fell by about N370billion compared to the... Read more »

CBN raises concern over govt’s rising debt profile

The Central Bank of Nigeria (CBN) has sent a cautionary note to the Federal government in respect of the rising debt profile of the country. The CBN Governor, Mr. Godwin Emefiele, while... Read more »
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