Business

Cooking Gas Price Hits N7,000 As NLNG Says Marketers Lack Facilities

The management of the Nigeria LNG Limited has said that marketers do not have enough infrastructure to take up its Liquefied Petroleum Gas supply. In an earlier PUNCH report, the Independent Petroleum Marketers Association had said that the major cause of the rising cost of cooking gas was lack of adequate supply. The marketers claimed that foreign investors underestimated demand ...

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Forex Infractions: Access, UBA, Three Other Top Banks Fined N1.4bn

Five top banks in Nigeria paid a total of N1.4bn as penalties to financial regulatory bodies such as the Central Bank of Nigeria, Security Exchange Council and Financial Reporting Council of Nigeria, in the first half of the year. The banks are the United Bank of Africa, Fidelity Bank, Access Bank, Guarantee Trust Bank and First City Monument Bank. This ...

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Dangote: Execution Of Sugar Master Plan Could Fetch Nigeria Over $700million Yearly

Chairman of Dangote Sugar Refinery Plc, Aliko Dangote, has said that the National Sugar Master Plan (NSMP) when executed as designed could fetch the nation foreign exchange in excess of $700million yearly from the Backward Integration component of the plan. Dangote made this disclosure recently while receiving in his office some businessmen who were on a visit to Dangote Sugar ...

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Shell Restates Commitment To Research, Development In Nigeria

Energy giant, Shell, has said its research and development strategy is aligned with Nigeriaโ€™s 10-year strategic roadmap for local content being implemented by the Nigerian Content Development and Monitoring Board (NCDMB). Managing Director of the deep-water business of Shell in Nigeria, Mrs. Elohor Aiboni, said Shell Nigeria Exploration and Production Company (SNEPCo) would continue to explore opportunities for collaboration with ...

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๐๐‘๐„๐€๐Š๐ˆ๐๐†: CBN Introduces N50bn Non-Interest, Collateral-Free Targeted Credit Facilities For Households, SMEs: How To Apply

The Central Bank of Nigeria (CBN) has introduced a 50 Billion Naira Non-Interest Targeted Credit Facility to support Households and MSEs in Nigeria. Loan Amount: N500,000 and N750,000 Moratorium: Up to 12 Months Tenor: Up to 36 Months ๐๐Ž๐-๐ˆ๐๐“๐„๐‘๐„๐’๐“ ๐€๐†๐’๐Œ๐„๐ˆ๐’ The Non-Interest AGSMEIS Traders dealing in foodstuff, electronics, allied products, computers/phones, spare parts, building material, transportation, etc. Loan Amount: Up ...

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Lagos Eyes $60 Million Investment, As Sanwo-Olu Signs Green Bond Market Agreement

Lagos State becomes the first sub-national Government to activate the framework for the unlocking of the $1 trillion Nigerian Green Bond Market Development Programme to finance key infrastructure projects. On Tuesday, Governor Babajide Sanwo-Olu signed Memorandum of Understanding (MoU) with FMDQ Group and Financial Sector Deepening (FSD) Africa, which are the programmeโ€™s implementing partners on the proposed N25 billion (over ...

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LASG, Energy Firms Agree On Power Supply To Lagosians

โ€ฆreleases 20,000 free prepaid meters for low income areas Lagos State Government, through its Ministry of Energy and Mineral Resources, on Tuesday signed a Memoranda of Agreement (MOA) with Ikeja Electric and Sahara Power Group to increase power supply and provide uninterrupted power to residents of the State. The agreement between Lagos State Government and the energy firms signed will ...

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Shell Trains 40 Imo Youths For Assa North-Ohaji South Gas Project

Leadind energy company, The Shell Petroleum Development Company of Nigeria Limited (SPDC) has commenced a one-year professional and vocational training for 40 youths from the SPDC Joint Venture host communities of the Assa North and Ohaji South gas project in Imo State. โ€œThe aim is to ready these youths, not only for opportunities in the operations of the Assa North ...

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Nigeriaโ€™s Debt Is Sustainable, But Dangers Loom On Theย Horizon

Nigeriaโ€™s economy is struggling to recover from fluctuating oil price, inflation and impact of COVID-19 pandemic. Photo by Pius Utomi Ekpei/AFP via Getty Images Stephen Onyeiwu, Allegheny College The World Bank recently ranked Nigeria fifth on the list of 10 countries to which it has the highest debt exposure. Nigeria owes the International Development Association โ€“ one of the two ...

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