FG Targets $55.2bn Investments from Oil and Gas Sector

By Modupe Gbadeyanka The Nigerian National Petroleum Company (NNPC) Limited is planning to grow its revenue to N4.5 trillion as it plans to end the importation of premium motor spirit (PMS), otherwise known as petrol, by December 2024. The chief executive of the company, Mr Mele Kyari, while speaking on Thursday, said the nation would not need to rely on fuel from outside the country because its refineries would have been fully operational. Nigeria is currently revamping its four refineries to make the product available to residents of the country as it officially stopped the payment of subsidy on petrol

By Dipo Olowookere Dangote Refinery and Petrochemical Limited will be listed on the floor of the Nigerian Exchange (NGX) Limited in the future, the Chairman of the company, Mr Aliko Dangote, has revealed. Mr Dangote, who is the richest man in Africa, confirmed this in an interview with the Financial Times published on Saturday. The refinery will join other businesses of Mr Dangote currently trading their equities on the NGX, Dangote Cement, Dangote Sugar, and NASCON. The oil facility, believed to be worth about $20 billion, was launched in May 2023 by the immediate past president of Nigeria, Mr Muhammadu

By Adedapo Adesanya  President Bola Tinubu has written to the House of Representatives seeking the approval for an $8.6 billion and €100 million external borrowing plan for critical infrastructure in areas such as power, roads, water, railway, and health. The President also forwarded the Federal Capital Territory (FCT) Supplementary Budget to the lower chamber for consideration. Meanwhile, the President will present the 2024 budget to the National Assembly on Wednesday. This was after the Federal Executive Council (FEC) approved a 2024 budget of N27.5 trillion. The approval followed the review of the Medium-Term Expenditure Framework (MTEF) earlier passed by the

By FBS As Black Friday approaches, global broker FBS delves into the relationship between the year’s biggest sales season and its impact on the financial markets. The FBS analysts particularly discover the trends of the world’s largest economy – the American. They analysed reactions across assets and macroeconomic conditions to understand the Black Friday impact better. What influences the Black Friday numbers FBS analysts highlight three critical indicators for gauging Black Friday’s impact on the US economy: the number of buyers, the average amount spent, and the total spending. Over the past 18 years, notably successful in terms of total

For a liveable climate, Africa is finding its voice regarding conversations around sustainable energy. Experts in the energy sector are leveraging different speaking opportunities to lend their voices and join the United Nations’ noble cause of cutting greenhouse gas emissions to as close to zero as possible by 2050. Nigeria is the giant of Africa, and one of its indigenous oil exploration and production companies, ND Western, is extending its frontiers of commitment to rally other energy sector players in the continent to join hands and chart a course for achieving the UNSDG #7 — affordable and clean energy. ND

By Investors Hub European stocks have turned mixed on Wednesday as rallying oil prices have helped lift energy stocks and investors remained hopeful that the Iran nuclear deal will remain partially intact, even without the United States. While the U.K.?s FTSE 100 Index is up by 0.5 percent, the German DAX Index is just below the unchanged line and the French CAC 40 Index is down by 0.1 percent. Dialog Semiconductor has soared after its underlying net income for the first quarter rose 19 percent from last year. Siemens has also jumped after lifting its full-year profit guidance. Vodafone Group

It seldom works when an entire country attempts to get wealthy by creating more money. Everyone has more money, thus prices will rise. And individuals are finding that they need more and more money to buy the same number of products as they did in the previous years. As a result of the recent printing of additional money in Zimbabwe and Venezuela in South America, both nations’ economies grew. Due to increased printing, prices began to rise at an alarming rate and these nations began to experience “hyperinflation.” It’s at this point when costs skyrocket. During Zimbabwe’s 2008 hyperinflation, prices

By Aduragbemi Omiyale The Nigerian Senate on Wednesday mandated its Committee on Sports to investigate why the Super Eagles failed to qualify for the 2022 World Cup slated to take place later in the year in Qatar. Last week, Nigeria failed to pick one of the five slots allotted to Africa for the global football tournament organised by FIFA after a 1-1 draw at the MKO Abiola Stadium in Abuja. The Super Eagles lost the ticket to Ghana on an away-goal rule after playing a goalless draw on March 25, 2022, in Kumasi, Ghana. At the plenary today, the red

“We need more leads” If you’re in sales and marketing, you’ve probably heard these words or said them to your team. Rightly so, since growing the business depends on your ability to attract high-quality leads and gradually turn them into paying customers. For this to happen, you’ll need lead generation strategies that increase brand awareness, generate interest in your products/services, and encourage potential customers to engage. Strategies that create new opportunities for you to capitalize on and close. To that end, we have laid out five tactics that may help boost your lead generation efforts. 1.      Invest in Lead Generation

By Investors Hub The major U.S. index futures are pointing to a roughly flat opening on Wednesday, with stocks likely to extend the lackluster performance seen in the previous session. Traders may remain reluctant to make significant moves as they keep an eye on renewed trade talks between the U.S., Canada, and Mexico. Canada rejoined the talks following President Donald Trump?s announcement of a preliminary trade deal with Mexico on Monday. In remarks to reporters on Tuesday, Canadian Foreign Affairs Minister Chrystia Freeland said ?difficult? concessions by Mexico have set the stage for productive conversations in the coming days. Freeland

By Modupe Gbadeyanka At the currency market on Monday, the Nigerian Naira traded mixed at various segments of the market. While the local currency depreciated against the Dollar at the interbank, it appreciated at the Investors and Exporters (I&E) segment, and traded flat at the parallel market. Business Post reports that the Naira, which traded at N305.95 per Dollar last Friday, was exchanged at N306 per Dollar on Monday, representing a decline of 5 kobo. In addition, the local currency, which was sold at N362.67 to a Dollar at the I&E window in the previous session, it went for N361.96

Centurion CEO and Executive Chairman of the African Energy Chamber, Mr NJ Ayuk, has called for more industry collaboration on key issues pertaining to Nigeria’s oil & gas industry, including local content development, the signing of the Petroleum Industry Bill, the promotion of a better enabling environment for start-ups and SMEs, monetizing gas for domestic use, investing massively in energy infrastructure and building a robust petrochemical industry whilst ensuring that energy security is placed as a high priority agenda by both the Nigerian government and the country’s oil industry. Mr Ayuk made this call when he led an industry delegation