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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 A hybrid solar power solutions provider, Daystar Power, has signed an agreement with Nigerian Breweries to install and operate a 4.2MWp solar plant and 2MWh battery storage system that will help the firm reduce its high energy costs. The installation will be one of the largest solar and battery storage projects for an industrial manufacturer in Nigeria. The hybrid solar solution will generate 5,249 MWh of electricity – 42 per cent of its daytime power consumption – every year at Nigerian Breweries’ Lagos brewery. According to a statement, the integration of solar into the factory’s energy mix

By Adedapo Adesanya  Angola, one of Africa’s top crude oil producers and a key member of the Organisation of the Petroleum Exporting Countries (OPEC), has officially rejected the proposed production quota for the year 2024 and may even exit the group. This was signalled by Mr Diamantino Pedro Azevedo, Angola’s Minister of Energy and Mineral Resources, confirming the nation’s decision and indicating a divergence from OPEC’s suggested allocations for both member and non-member countries. The announcement was made during the 26th OPEC+ Meeting on Thursday, where the organisation proposed 1.11 million barrels of crude oil per day production quota for

By Nkem Ndem Lagos Taxi cab drivers are huge lifesavers for commuters in the city, especially when the commuters are first-time visitors, who do not have the muscle required to navigate Lagos city via public transport systems. With the constant traffic and bustling around the city, however, the job of the taxi driver can be quite arduous and back-breaking.  Considering the nature of their jobs, there are certain things they have learned to overlook…however, there are also something that they cannot just condone from passengers. Looking to patronize a Lagos taxi driver and curious to know these things they don’t

By Dipo Olowookere With only N200 as registration fee, civil servants and the entire people of Oyo State will enjoy a National Health Insurance Scheme to be launched by the state Governor, Mr Abiola Ajimobi, the Secretary to the Oyo State Government, Mr Olalekan Alli has revealed. Addressing newsmen on Tuesday at the House of Chiefs Secretariat in Ibadan, Mr Alli said the scheme was part of initiatives of Mr Ajimobi to mark his 6th year in office as Governor of Oyo State. According to the SSG, the celebrations will kick off with a parley between the Governor and children

By Adedapo Adesanya The Naira extended gains into a second day on Thursday, December 10, appreciating by N2 against the US Dollar at the black market to close the day at N476/$1 in contrast to the N478/$1 it traded on Wednesday. However, the Naira wasn’t lucky against the Pound and the Euro. The domestic currency lost N4 on the British currency to close at N624/£1 versus N620/£1 and depreciated by N7 on the Euro to close at N577/€1 versus N570/€1. At the Investors and Exporters (I&E) window, the Nigerian currency had a positive outcome against the Dollar on Thursday, gaining

By Modupe Gbadeyanka As Sierra Leone recovers from the recent deadly floods and mudslide in Freetown that killed over 500 people with many more still unaccounted for, 1,908 affected households will be directly supported with cash through mobile money transfers to help them meet their immediate needs. The cash transfers are being funded by UK Aid from the British people (also known as DFID), World Food Programme (WFP) and facilitated by UNICEF in collaboration with the National Commission for Social Action (NaCSA). The cash transfer will help all registered affected households to rebuild their lives and support their surviving families

By Dipo Olowookere Data released by the National Bureau of Statistics (NBS) on Tuesday, June 12, 2018, has revealed that the average price for refilling a 5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 0.68 percent month-on-month to N2,072.24 in May 2018 from N2,058.19 in April 2018. The stats office, in the data obtained by Business Post, also disclosed that the price showed a decrease by 15.30 percent year-on-year, from N2,446.57 in May 2017 to N2,072.24 in May 2018. It was revealed that states with the highest average price for the refilling of a 5kg cylinder for Liquefied

By Adedapo Adesanya  The Naira depreciated by N3 against the United States Dollar at the parallel market on Tuesday, selling at N363/$1 after trading at N360/$1 on Monday. In recent times, there have been rumours that the local currency would eventually be devalued due to the global economic crisis caused by the outbreak of coronavirus also known as COVID-19. This had led to some people mopping up forex in preparation of the unknown. At the black market, the Nigerian currency also lost N3 against the British Pound Sterling on Tuesday, trading at N475/£1 compared with N472/£1 it recorded on Monday.

By Modupe Gbadeyanka Justice A.O Adeniyi of the Federal High Court sitting in Abuja has granted former Director-General of the Security and Exchange Commission (SEC), Mr Mounir Gwarzo, a bail in the sum of N10 million. Mr Gwarzo was arraigned in court by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) after previous failed efforts to dock him. He was brought before Justice Adeniyi alongside a Principal Manager with the National Identity Management Commission (NIMC), Ms Jamila Ahmad Muhammed, for allegedly engaging in a N12.8 million contract scam. When the charges were read to them, the accused persons

As information technology evolves rapidly, the disruption or advancement in the banking sector will continue to be digitised. Only the bank that can transform itself into truly effective digital organisation and embrace the changes in digital technologies and consumer behaviour will survive and thrive in both the current and future digital environments. Leveraging experience spanning over a century of dependable services, Nigeria’s premier financial institution, First Bank of Nigeria Limited, also called FirstBank, has kept pace with the evolving global operating environment, responding to the dynamic needs of its customers, investors, regulators, host communities, employees and other stakeholders. Through a