GE, Lagos Sign Deal on Power, Healthcare Projects

By Adedapo Adesanya Nigeria will accept and work with a production quota of 1.5 million barrels of crude oil per day in 2024 as the country aims to grow on the back of its oil resources, following a revision done by the Organisation of the Petroleum Exporting Countries and its allies, OPEC+. According to a statement issued by the Press and Public Relations unit of the Ministry of Petroleum Resources, Thursday’s meeting of the 23-man group addressed crucial aspects, including the completion of assessments by independent sources (IHS, Wood Mackenzie, and Rystad Energy) on the projected production levels for Angola,

By Adedapo Adesanya Crude oil prices fell on Thursday members of the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) agreed to voluntary output cuts for the first quarter of next year, falling short of market expectations. As a result, Brent crude futures lost 27 cents or 0.3 per cent to close at $82.83 per barrel, and the US West Texas Intermediate (WTI) crude futures went down by $1.90 or 2.4 per cent to $75.96 a barrel. On a monthly basis, Brent fell by 5.2 per cent while WTI was down by 6.2 per cent. Saudi Arabia, Russia

By Adedapo Adesanya The boards of insurance companies operating in the country have been charged by the National Insurance Commission (NAICOM) to embrace the measures put in place to tackle the challenges of unpaid claims. The Commissioner for Insurance, Mr Sunday Thomas, expressed worry over the number of outstanding claims in the sector despite efforts by the regulator to address the issue. Mr Thomas, who is also the chief executive of NAICOM, said the organisation, in collaboration with members of the Insurers’ Committee, has taken decisions and incepted measures designed to tame the menace of unpaid claims. Speaking at the

By Adedapo Adesanya The Naira put up a weak performance against the United States Dollar across the various segments of the foreign exchange (FX) market on Thursday. November 30, 2023, the last trading session of the month. In the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, which is the official market, the Nigerian currency lost 0.1 per cent or 85 Kobo against the greenback during the session to settle at N832.32/$1 compared with the preceding day’s value of N831.47/$1. A slight strain in the supply of forex into the spot market was partly responsible for the weakening of the local

Korean culture is the best; they aim at taking good care of themselves no matter what the situation is! Korean beauty products aim at creating bright, smooth, and perfect skin using less makeup. Are you too amazed by the effects of these products? Do you also want to use K beauty products and make your skin healthy and bright? If so, then stop right here because in this article we are going to discuss the 10-step Korean skincare routine. What are the ten steps of Korean skincare? The Korean beauty products are so much in trend now, from the essences

By Dipo Olowookere The digitisation program of Fidelity Bank, which aims to continue to seek better, easier and more convenient ways of providing financial services, with the aid of technology, to its teeming customers, has paid off. At the 2019 PWM Wealth Tech Awards held in London, United Kingdom (UK) recently, the company was announced as winner of the ‘Best Digital Networking Bank For Entrepreneurs, Africa 2019. This award was presented at an elaborate ceremony in London and was received on behalf of the bank by the Chief Operations and Information Officer (COIO), Fidelity Bank, Mr Gbolahan Joshua and Divisional

By Kester Kenn Klomegah At long last, on the eve of his retirement, South African President Nelson Mandela has come to Moscow on an official visit. His goodwill trip is designed to express his gratitude to Russia for its support during the struggle against apartheid. It could also mark a strengthening of relations between countries that won freedom from communism and apartheid, respectively in the early 1990s, and have subsequently become two of the world’s most important emerging democracies. Mandela’s visit has been long planned but frequently postponed. He originally intended to visit to Russia in 1995, but had to

By Adedapo Adesanya New government restrictions to student visa routes that will substantially cut net migration by restricting the ability for international students to take family members to the United Kingdom have raised worries among Nigerians. Under the new proposals made on Tuesday, only students on postgraduate courses designated as research programmes can bring dependants to the UK while they study. The UK Office of National Statistics (ONS) estimated that net migration was over 500,000 from June 2021 to June 2022. Nigerians have always sought the UK as a prime destination, and many use the switch role, the UK claims

By Walter Duru One of the biggest stories about the Niger Delta region of Nigeria today is the killing of a dreaded cultist, Johnson Igwedibia, also known as Don Waney, by a combined team of men of the Military and Department for State Services- DSS. In a press statement issued by the Nigerian Army entitled: “End of road for notorious cultist, kidnapper and mass murderer- Don Waney, signed by Deputy Director, Army Public Relations, Colonel Aminu Iliyasu, the military announced the death of Johnson Igwedibia. The statement reads in part: “The authorities of 6 Division Nigerian Army Port Harcourt wish

By Modupe Gbadeyanka Management of Emerging Markets Telecommunication Services Limited (EMTS), which previously traded as Etisalat Nigeria, has assured its over 20 million subscribers that they will continue to enjoy superior quality service now that the firm has rebranded to 9Mobile. Last week, news went viral that the fourth largest telecommunication firm resolved to drop its former name for the new one. In a statement issued on Tuesday and signed by the chief executive officer of the firm, Mr Boye Olusanya, the company explained that it chose the new trading name, 9mobile, because it “represents our 0809ja heritage, our 9ja-centricity,

By Modupe Gbadeyanka Activities on the trading floor of the Nigerian Stock Exchange (NSE) further closed on Thursday on a positive note with the market closing 0.22 percent higher. This pushed the year-to-date return higher by 36.52 percent at the close of business today. The All-Share Index (ASI) increased by 79.99 points to close at 36,688.75 points, while the market capitalisation appreciated by N23 billion to settle at N12.77 trillion. Unlike yesterday, the market breadth ended positive today with 29 price gainers recorded at the close of trading against 11 price losers. It was a good day for Seplat at

By Modupe Gbadeyanka On Monday, April 03, 2017, the Central Bank of Nigeria (CBN) said it released the sum of $90 million to banks to enable them meet the forex demands of customers intending to make payments for medicals, BTA or school fees. Spokesman of the lenders’ bank, Mr Isaac Okorafor, disclosed that the CBN offered a total of $150 million to licenced foreign exchange dealers in the interbank wholesale auction window. He noted that the BDC sale day has been moved to Tuesdays to ease logistical difficulties. According to him, the CBN will now sell $10,000 only to low-end