SUN
Investors Stake N57.89bn In 3.68bn Shares Amid Bearish Dominance
Despite profit-taking activities on the floor of Nigeria’s stock market, activity level in the total traded volume and value of shares by investors surged at 3.680 billion shares worth N57.892 billion transacted in 40,726 deals at the close of business last week. This is against the total of 1.804 billion shares valued at N52.040 that exchanged hands in… Read More
Downstream Sector: PENGASSAN Insists On Comprehensive Approach To Address Challenges
Workers in the oil and gas sector have reiterated calls for a comprehensive approach that includes improving environmental depredations, investing in social infrastructures and strengthening security measures, among others, to address the multifarious challenges in the sector. The workers, under the umbrella of the Petroleum and Natural… Read More
PUNCH
Testing Begins On 700MW Zungeru Hydroelectric Power Plant – Federal Government
The Federal Government, on Sunday, announced that testing has commenced on the 700 megawatts Zungeru Hydroelectric Power Plant ahead of the evaluation of electricity from the facility to the national grid. It also stated that the $1.3bn project, located in Niger State, had been connected to the national grid, in contrast to claims in some quarters… Read More
VANGUARD
Petrol: Oil Marketers Propose N550/Litre Price To Dangote
As the Nigerian National Petroleum Company, NNPC Limited, moves to end petrol scarcity in Lagos and its environs, Dangote Refinery and oil marketers have intensified efforts at taking final decisions on pricing and delivery of petrol to filling stations nationwide. Dangote Refinery, which can refine 650,000 barrels per day, bpd of crude oil, intends… Read More
ECONOMY HEADLINES
PUNCH
$2.3bn Siemens Power Project Transformers, Substations Arrive Nigeria
Electricity transformers and substations meant for the $2.3bn Siemens power project have arrived in the country as the project gains traction, Minister of Power, Adebayo Adelabu, said on Sunday. The development came a few months after the Federal Government renewed the mega power project contract with the German government and Siemens… Read More
BDC Operators Ask CBN To Lower Exchange Rate
The Association of Bureaux De Change Operators of Nigeria has appealed to the Central Bank of Nigeria to adjust and lower its applicable exchange rate below the N1,251/$ it pegged for its members. ABCON National President, Aminu Gwadabe, stated this in a letter to the CBN Director, Trade & Exchange Department, obtained by The PUNCH… Read More
SUN
Crude Oil Under-Production Costing Nigeria $15bn Annually –PETAN
Fresh facts emerged at the weekend that Nigeria loses $15 billion annually, a figure about the size of the national budget, due to 500,000 barrels per day (bpd) crude oil production shortfall. Chairman of Petroleum Technology Association of Nigeria (PETAN), Mr. Wole Ogunsanya, raised the concern during a familarisation visit by the leadership… Read More
POLITICAL HEADLIINES
PUNCH
Federal Government Plans Three National ID Cards For 104m Nigerians June
The Federal Government is to launch three new national identity cards in May this year and has a target of providing them for about 104 million citizens across the country. The three new national identity cards planned by the National Identity Management Commission include a bank-enabled National ID card, a social intervention card, and an… Read More
INDEPENDENT
Bagudu, Alkali Meet On Review Of National Land Transportation Policy
Minister of Budget and Economic Planning, and his counterpart in the Transportation Ministry, Senator Said Ahmed Alkali, have met on the need to review the National Land Transport Policy. Speaking at the interactive session in Abuja at the weekend, Bagudu said the most important action that could ensure good results from the policy was… Read More
TECHNOLOGY HEADLINE
PUNCH
Federal Government To Develop AI Framework For National Development
The Federal Government has disclosed plans to assemble 120 Nigerian researchers, startups, and stakeholders in Artificial Intelligence to formulate a cohesive framework for AI implementation throughout the nation. The Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, made this announcement in a statement on… Read More