NAICOM Takes Over UNIC Insurance, Plans Forensic Audit

By Adedapo Adesanya Dangote Refinery is set to commence crude refining in the coming days as an OTIS Tanker, carrying 950,000 barrels of Agbami crude has reportedly set sail to Dangote’s offshore crude receiving terminal, Business Post has gathered. It is expected to arrive around 8 pm today, December 7, 2023. This development confirms expectations that the 650,000 barrels per day will commence operations before year-end and produce its first batch of petroleum soon after the company had initially announced that it would begin producing up to 370,000 barrels per day of diesel and jet fuel in October and gradually

By Adedapo Adesanya The President of the Dangote Group, the owners of the Dangote Petroleum Refinery and Petrochemicals plant, Mr Aliko Dangote, has said that following the purchase of 1 million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO), it will be looking to ramp up its production in coming months. The 650,000 barrels per day capacity refinery is not expected to hit full capacity until 2025, but with a gradual ramping, it is expected that it will begin with begin producing up to 370,000 barrels per day of diesel and jet fuel. “We

By Adedapo Adesanya The Nigerian Naira weakened to a new low on the American Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, December 8, amid speculations that the Central Bank of Nigeria (CBN) has again devalued the local currency. In the previous trading session, there were reports that the exchange rate for clearing cargoes has been raised to N952/$1, sparking rumours that domestic currency would hit N1,000/$1 in the spot market. On the last trading session of the week, the Naira lost N255.98 or 30.4 per cent of its value on the greenback to trade at N1,099.05/$1

By Dipo Olowookere Shares of Daar Communications Plc traded flat on the floor of the Nigerian Stock Exchange (NSE) on Friday despite the trouble facing the company at the moment. On Thursday, its industry regulator, the National Broadcasting Commission (NBC), suspended the operating licence of its flagship broadcast stations, African Independent Television (AIT) and RayPower FM. As a result, the stations are presently not on air. The NBC accused the media platforms of breaking the nation’s broadcasting codes by airing inciting materials despite being warned severally. At the stock market on Friday, shares of the parent company of AIT and

By Adedapo Adesanya The Brent crude began the new month on a positive note after trading higher at $42 per barrel on Wednesday at the global market. This improvement came after energy report showed that crude inventories in the world’s largest economy, the United States, plunged more than expected. Consequently, the international crude benchmark gained 1.87 percent or 77 cents to trade at $42.04 per barrel, while the US West Texas Intermediate (WTI) crude was up 1.4 percent or 55 cents to trade at $39.82 per barrel. The Energy Information Administration  (EIA) reported on Wednesday that US crude inventories fell by

By Modupe Gbadeyanka Some houses and shops within the Academy market in Ibadan have been sealed by the Oyo State Government for allegedly violating environmental laws and failing to comply with the laid down hygienic practices. The Commissioner for Environment and Natural Resources, Mr Abiodun Oni, said on Saturday that the government will not tolerate unhygienic practices from residents. The affected properties were accused of being responsible for heaps of waste dumped in the marketplace and along the main roads as they do not have adequate waste bins for their wastes. Mr Oni, who spoke via the Special Adviser on

By Sodeinde Temidayo David The House of Representatives has mandated its committee on sports to investigate the immediate and remote cause of the failed doping test in order to prevent the future occurrence of such an incident. The House also called for an investigation into the activities of the Federal Ministry of Sports and Youth Development on failed doping tests by Nigerian athletes at the recently concluded Olympic Games in Tokyo, Japan. In competitive sports, doping is the alleged use of banned athletic performance-enhancing drugs by athletic competitors or to illegally improve athletic performance in competitions. Nigeria is set to

By Dipo Olowookere Popular Lagos-based lawyer, Mr Fred Agbaje, has breathed his last at a hospital in London, multiple reports say. According to the reports, the human rights lawyer died on Saturday. However, the cause of his death was still sketchy as at the time of filing in this report. He was said to have been battling with an undisclosed ailment and travelled to London for treatment. While alive, Mr Agbaje was very vocal on issues concerning the masses and the country. He was one lawyer who spoke on government policies he felt were not favourable to the common people.

By Dipo Olowookere The first Sovereign Green Bond issued by the Nigerian government recorded a favourable response from investors. A statement issued last week by the Debt Management Office (DMO), which sold the bond to investors on behalf of the Federal Government, disclosed that the exercise was oversubscribed by N101 million, representing 0.94 percent more of the total amount initially offered. The debt office had offered N10.69 billion worth of the green bond to investors, but it received a total subscription of N10.791 billion. “The debut Sovereign Green Bond offered to the general public in December, 2017 was very well

Also known as impotence, erectile dysfunction is a medical condition that causes men to not be able to get or keep a strong enough erection in order to be able to perform sexually. Other symptoms of the condition include diminished sexual libido. Although these things are common from time to time in most men, where it happens continuously for weeks or months, this is when it is erectile dysfunction. When visiting your doctor about erectile dysfunction, it is likely that they will offer you treatment in the form of penile implants, penis pumps, surgery, and oral medication in order to

By Modupe Gbadeyanka The federal government and the labour unions in Nigeria are yet to reach a conclusion on the removal of fuel subsidy by the latter. The two parties held a meeting on Wednesday evening, but it was adjourned after they failed to agree. The federal government announced the removal of subsidy on premium motor spirit (PMS), popularly known as petrol, on Monday and yesterday, the Nigerian National Petroleum Company (NNPC) announced an increment in the pump price. At the meeting on Wednesday, the representatives of the labour unions maintained that the government must revert to the old pump