Port Harcourt Refinery to Commence Operations December—FG

By Adedapo Adesanya The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that Nigeria saw a 65.7 per cent or N76.77 billion increase in earnings from the solid minerals sector in 2021 to N193.59 billion from the N116.82 billion achieved in 2020. This upward trajectory has been on for the past five years, according to a report from the agency. The Executive Secretary of NEITI, Mr Orji Ogbonnaya Orji, however, lamented that this is still abysmal considering the potential of the sector to the Nigerian economy. He said this while presenting the solid minerals sector report in Abuja, noting that

A recently unveiled comprehensive report by experts at Traders Union (TU) has outlined the golden hours for Forex trading in India. As the global market wades through waves of unpredictability, Indian traders have been presented with a detailed guide on when to dive in. While it’s a well-known fact that the Forex market operates around the clock, not all hours are equal. As per the Traders Union report, the sweet spot for Forex trading in India lies between 6.00-12.00 GMT and 18.00-0.00 GMT. These windows promise maximum liquidity, tight spreads, and minimal slippage, factors that are crucial for profitable trading.

By Precious Olisa The Nigerian Extractive Industries Transparency Initiative (NEITI) has said the Nigerian National Petroleum Company (NNPC) Limited only remitted 57.27 per cent of the revenue it generated in 2021 to the federal government. The agency made this claim in a report released earlier this week, noting that the country generated $23.05 billion from the oil and gas sector in 2021 compared with the $20.43 billion achieved in 2020, with the NNPC and others keeping some funds back. Analysis showed that about $8.67 billion came from the sale of crude oil and gas, $13.37 billion was from taxes and

By Adedapo Adesanya After three sessions of gains that followed extended production cuts from Saudi Arabia and Russia, oil prices fell on Tuesday as investors took profits, leaving the Brent crude futures down by 9 cents to $94.34 a barrel after it hit a session peak of $95.96, as the US West Texas Intermediate crude futures dropped 28 cents to close at $91.20 per barrel after earlier reaching $93.74 a barrel, also the highest since November. Despite the profit-taking, expectations remain that Brent will trade in a range of $90-100 per barrel over the coming months, with a year-end target

By Investors Hub Asian shares ended mixed on Tuesday as Chinese data disappointed and worries about Turkey eased slightly after the country?s central bank announced a raft of measures aimed at soothing markets. China?s Shanghai Composite Index eased 4.91 points or 0.2 percent to finish at 2,780.96 after a slew of Chinese data on industrial output, retail sales and fixed asset investment came in slightly below expectations. Hong Kong’s Hang Seng Index closed 183.64 points or 0.7 percent lower at 27,752.93. Retail sales in China jumped an annual 8.8 percent in July, a tad below expectations for a 9.1 percent

Founder and Managing Director of Wimbart PR, Jessica Hope, has been ranked in the 2020 PRWeek UK Powerbook, the UK’s most influential list for communications professionals. Wimbart is the only Africa-focused public relations agency to feature on the list, recognised as a leader in the African market. The London-based agency works with technology start-ups and SMEs across Africa, operating primarily in Nigeria, Kenya, Ghana, Uganda, Rwanda, Egypt, Togo and South Africa. Jessica Hope launched Wimbart, an independent B2B corporate PR agency, in 2015, with a strong emphasis on high growth African technology companies and entrepreneurs. The company counts the likes

By Adedapo Adesanya The Naira returned to the downside at the Peer-2-Peer (P2P) window of the foreign exchange market with a loss of 0.17 per cent or N1 against the United States Dollar to close at N584/$1 on Tuesday, April 5 compared with N583/$1 it traded on Monday. Also, at the Investors and Exporters (I&E) window of the forex market, the Naira also depreciated against the American currency by 0.05 per cent or 20 kobo to sell at N416.83/$1 compared with the previous day’s rate of N416.33/$1, according to data obtained from FMDQ Securities Exchange. But the local currency traded

By Modupe Gbadeyanka On Wednesday, May 01, 2019, residents of Makoko Community, a slum in Lagos State, received valuable gift materials from a non-governmental organization, Herbert Onyewumbu Wigwe (HOW) Foundation. During the visit to the community, the foundation doled out sundry educational materials to the Hope Centre School and more goodies in the form of medical materials for preventing and combating the malaria via the project tagged, ‘Give Malaria No Place (GMNP),’ which was in line with the ‘World Malaria Day’ recently celebrated across the world. The NGO foundation is set to distribute over 2000 free mosquito nets, 4000 free

By Modupe Gbadeyanka A conference on ‘Managing Capital Flows: Challenges for Developing Countries’ was held last week in Livingstone, Zambia by the International Monetary Fund (IMF). The conference provided a forum for policy makers to share experiences on how best to reap the benefits from capital flows, while managing the risks. Capital flows to many developing countries have recently declined because of low commodity prices and weak growth. During the programme, participants agreed that capital flows to developing countries are generally beneficial—particularly in the current context of a much leaner environment—by providing an important source of financing for investments and

By Dipo Olowookere The London Stock Exchange (NSE) on Wednesday said a total of 360 companies operating in 32 countries in Africa under seven major sectors have been identified to be the continent’s hotcakes in 2019. In the report titled ‘Companies to Inspire Africa 2019’, it was said that Nigeria led with 97 companies, while Kenya followed with 66 organisations. According to the report, 23 percent of the companies are led by women, almost double the proportion in the 2017 report, with standout sectors having senior female executives in Healthcare & Education and Financial Services. The report pointed out that

By Dipo Olowookere The board of directors of Conoil Plc has recommended the payment of N2 per share dividend to shareholders of the oil company. The cash dividend payment, according to the board, is for the year ended December 2017. At a meeting of the board held on Monday, May 21, 2018, it was resolved that the amount would be tabled before shareholders of the firm at its Annual General Meeting (AGM). According to a statement issued by Conoil, the board agreed that the AGM, in its 48th edition, should be held on Friday, July 13, 2018 at a venue

By Adedapo Adesanya President Muhammadu Buhari will on Thursday, October 8, 2020, present the 2021 Appropriation Bill to the joint session of the National Assembly (NASS) in Abuja. The Senate President, Mr Ahmad Lawan, read the letter from Mr Buhari at the plenary session on Tuesday in Abuja, conveying his intention to present the budget to the parliament in two days’ time. “May I crave the kind indulgence of the distinguish Senate to grant me the slot of 11 hours on Thursday, October 8, 2020 to formally present the 2021 Appropriation Bill to the joint session of the National Assembly.