The COVID-19 pandemic threatens hard-won gains in health and education over the past decade, especially in the poorest countries, a new World Bank Group analysis finds. Investments in human capital—the knowledge, skills, and health that people accumulate over their lives—are key to unlocking a child’s potential and to improving economic growth in every country.  The World Bank […]

  Nigerian National Petroleum Corporation (NNPC)says it will soon begin activation of Compressed Natural Gas (CNG) refill stations for motorists across the country. The corporation said this in a statement by the Group General Manager Public Affairs Division, Dr Kennie Obateru, in Abuja. The CNG, methane stored at high pressure, […]

Italian prosecutors have asked for oil majors Eni and Shell to be fined and some of their present and former executives, including Eni CEO Claudio Descalzi, to be jailed in a long-running trial over alleged corruption in Nigeria. In a Milan court, prosecutors asked on Tuesday for eight years in […]

    The capital market community led by the Securities and Exchange Commission (SEC) has launched a funding initiative with the aim of raising N1 billion to support the fight against Coronavirus (COVID-19) on the Nigerian economy. The fundraise, according to the Commission, would be coordinated by the Capital Market […]

Royal Dutch Shell’s onshore Nigeria subsidiary saw a 41% rise in the number of crude oil spills due to theft or pipeline sabotage in 2019, the group said in its annual report. Shell Petroleum Development Company of Nigeria (SPDC) also recorded a rise in the volume of oil spilt in […]

OPEC oil output dropped in February to the lowest in over a decade as Libyan supply collapsed due to a blockade of ports and oilfields and Saudi Arabia and other Gulf members overdelivered on a new production-limiting accord, a Reuters survey found. On average, the 13-member Organisation of the Petroleum […]

Major stakeholders in the international shipping community have said they are confident of the measures and satisfied with the effectiveness of Nigeria’s efforts to contain piracy and armed robbery on the country’s maritime environment. They also expressed confidence in the abilities of the Director-General of the Nigerian Maritime Administration and […]

The local bourse sustained its downtrend as the All-Share Index dropped 1.2% to 25,816.57 points due to the losses in NESTLE (-10.0%), GUARANTY (-4.6%) and WAPCO (-10.0%). Consequently, the YTD return declined further to -3.8% while investors shaved off ₦218.3bn as market capitalisation fell to ₦13.4tn. Activity level declined as volume and value traded fell […]

Royal Dutch Shell’s Bonga oilfield in Nigeria will undergo maintenance in March and April, though the impact on production and exact dates are still being finalised, a spokesman said. Shell operates the offshore field via its Nigerian subsidiary SNEPCo. In March, around 153,000 barrels per day (bpd) of crude were […]

Sell-offs in MTNN (-3.5%), ETI (-3.9%) and STERLNBA (-6.0%) dragged the All-Share Index 22bps down to 26,974.38 points. This resulted to a slowdown in YTD return to 0.5% while market capitalisation fell ₦30.6bn to ₦14.1tn. Activity level was depressed as volume and value traded plunged 5.5% and 23.0% to 228.4m units and ₦2.7bn respectively. The most active stocks […]