The Nigerian Content Development and Monitoring Board (NCDMB), has unveiled BrentPlus, a series of initiatives that will stimulate innovations in the oil and gas industry and ancillary sectors, and create a platform for local creation of digital technologies. The Executive Secretary of NCDMB, Simbi Wabote, unveiled BrentPlus during a […]

The total assets of banks rose to N42.2tn as of the end of February 2020. A member of the Monetary Policy Committee, Dr Rafindadi Sanusi, disclosed this in his presentation during the last MPC meeting of the Central Bank of Nigeria. He said, “Total assets of the industry have grown […]

The Pension Funds Administrators have increased their pension funds investment in infrastructure to N47.32bn, latest statistics from the National Pension Commission have revealed. The latest figure was said to be as of the end of February 2020. The total assets under the Contributory Pension Scheme which had continued to record […]

After decades of exporting liquefied natural gas from the country, the Nigeria LNG Limited has said it is engaging market players to begin the domestic supply of the commodity. The NLNG, which is jointly owned by the Federal Government and three international oil companies, was established in 1989 to harness […]

Nigerian ports handled 191 million metric tonnes of export cargo in 2019. Out of these, crude oil accounted for 78 per cent while non-oil cargo accounted for only 22 per cent. The Managing Director, Nigerian Ports Authority, Miss Hadiza Bala-Usman, disclosed these at a recent BudgIT webinar tagged ‘Non-oil export: […]

The Federal Government will offer marginal oil fields for auction this year despite the crash in crude oil prices, the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, has said. The country has not conducted any licensing round since 2007, while a marginal fields round was last […]

The Nigerian oil and gas free zones have raked in over $20 billion worth of investments since inception and created more than 200,000 direct and indirect jobs. The Managing Director of Oil and Gas Free Zones Authority of Nigeria (OGFZA), Mr. Umana Umana, said on Tuesday at the opening of […]

The Ministry of Industry, Trade and Investment in collaboration with the National Automotive Design and Development Council (NADDC) has commissioned $1 billion worth of locally-assembled vehicles. The vehicles are locally produced by 17 companies including Coscharis, Nissan, Innoson, Ford and Elizade motors among others, that are pioneering made-in-Nigeria vehicles The […]

The Nigerian Stock Exchange (NSE) is going to be publicly listed with an authorized share capital of N1.25 billion, consisting of 2.5 billion ordinary shares at 50k per share, as the NSE’s dealing and ordinary members unanimously voted for the bourse to transform from a member-owned exchange to a publicly-quoted company […]

The United States government through its Agency for International Development (USAID) and Infrastructure Credit Guarantee Company Limited (InfraCredit) recently signed a Declaration of Partnership for the first-ever bond co-guarantee under a risk-sharing arrangement, to provide increased access to electricity to consumers in Port Harcourt, Rivers State. The N13 billion ($36.1 […]