Buhari Consoles Dangote over Death of Family Members

By Adedapo Adesanya Following President Bola Tinubu’s visit to India last week, the country’s oil company, the Nigerian National Petroleum Company (NNPC) Limited, has signed a memorandum of understanding (MoU) with Indorama Eleme Petrochemicals Limited on gas supply in a bid to promote the use of natural gas by large-scale gas utilization industries. The deal, if actualised, will allow both parties to explore and develop suitable opportunities within the remits of their interests across the hydrocarbon value chain in Nigeria. According to NNPC Group Chief Executive Officer (GCEO), Mr Mele Kyari, “NNPC Limited is on the threshold of making value

By Adedapo Adesanya President Bola Tinubu has approved the establishment of a presidential committee headed by the former governor of Kano State, Mr Abdullahi Ganduje, to reform Nigeria’s livestock industry and provide long-term solutions to recurring clashes between herders and farmers in the country. The President announced the establishment of the committee on Thursday in Abuja, following the submission of a report from the National Conference on Livestock Reforms and Mitigation of Associated Conflicts in Nigeria. The President explained that the committee is expected to collaborate with the Federal Ministry of Agriculture and Food Security and propose recommendations aimed at

By Modupe Gbadeyanka On October 1, 2023, food enthusiasts and stakeholders will gather at the Tafawa Balewa Square, Lagos to have a taste of Nigerian cuisine at an event organised by 3X4 Foods, a subsidiary of 3 BY 4 Gourmet. The founder of 3X4 Foods, Ms Banke Makinde, said the programme, Street Food Celebration, would be used to showcase the Nigerian culture, through food, to the world. She said the event would provide an opportunity to celebrate Nigeria’s culture, history, and people through street food, and promote cultural entertainment, and delicious gourmet street food. According to her, Street Food Celebration

By Adedapo Adesanya Twenty-two oil and gas companies have been selected as successful bidders for the gas flare commercialisation programme of the Nigerian Upstream Petroleum Regulatory Commission ((NUPRC). The 2022 Nigerian Gas Flare Commercialization Programme (NGFCP) auction process was for 49 Flare Sites put forward by the agency under the erstwhile administration of Mr Muhammadu Buhari. The immediate past government in December 2016 launched NGFCP to involve third-party investors or off-takers in harnessing gas released as a by-product of oil production, a crucial part of the seven big wins of the administration for the oil and gas sector. Launched by

By Aduragbemi Omiyale The Naira 4 Dollar promo of the Central Bank of Nigeria (CBN) will be discontinued from Friday, June 30, 2023; some commercial banks have informed their customers. The scheme was introduced by the central bank in March 2021 to help save the local currency when it came under foreign exchange (FX) pressure, which weakened its value in the currency market. However, the initiative could not achieve its goal as the Nigerian legal tender was further battered due to the forex crisis, influenced by the multiple exchange rate systems in the country. But some days ago, the CBN

By Adedapo Adesanya Oil prices edged lower on Wednesday after crude inventories in the United States rose by more than anticipated, according to data from the Energy Information Administration (EIA). This dragged the Brent crude downward by 0.54 per cent or 43 cents to $78.66 per barrel and battered the US West Texas Intermediate (WTI) by 0.54 per cent or 41 cents to $74.88 per barrel. According to the EIA, US crude stockpiles rose by 4.6 million barrels last week, exceeding expectations, boosted by a rebound in output as offshore facilities shut in by two Gulf hurricanes resumed activity. The

By Investors Hub Asian stocks ended mixed on Monday as U.S. President Donald Trump kicked off his tour of Asia in Japan over the weekend with tough rhetoric and an anti-corruption crackdown in Saudi Arabia resulted in the arrest of several Saudi princes and ministers, including prominent investor Prince Alwaleed Bin Talal. China’s Shanghai Composite Index rose 17.37 points or 0.5 percent to 3,389.12 even as banking stocks fell after People’s Bank of China Governor Zhou Xiaochuan spelled out his strategy to ward off systematic financial risks. Hong Kong’s Hang Seng Index edged down 6.81 points or less than a

By Dipo Olowookere The market capitalisation of the Nigerian Exchange (NGX) Limited closed below N28 trillion on Monday as a result of heavy selloffs in banking stocks and MTN Nigeria. The local equity market depreciated by 1.49 per cent on the first trading session of the week on the back of sustained profit-taking, which started some days ago. Business Post reports that the stock market’s value depleted by N421 billion yesterday to N27.847 trillion from N28.268 trillion as the All-Share Index (ASI) decreased by 773.00 points to 51,120.94 points from 51,893.94 points. Data showed that the banking index depreciated during

By Adedapo Adesanya The bulls made a return to the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Thursday, November 25, causing investors to gain 0.6 per cent at the close of business. This growth witnessed at the OTC stock market yesterday was triggered by one of the market bellwethers, Central Securities Clearing Systems (CSCS) Plc, which saw its stock price appreciate by 95 kobo or 5.7 per cent. Business Post reports that the share price of the Nigerian depository company closed on Thursday at N17.50 per unit as against N16.55 per unit it was sold on Wednesday. At

By Aduragbemi Omiyale A veteran Yoruba actor, Mr Musiliu Olaitan Ajikanle, also known as Bufallo, has died after a prolonged illness. Musiliu Ajikanle was said to have died on Monday after suffering from a stroke for about seven years. A cleric, Agbala Gabriel Foundation, brought his plight to the public a few months ago. The actor, before his demise, has acted in several movies and has also produced some flicks. Details later.

By Aduragbemi Omiyale The United Kingdom has donated 699,760 doses of AstraZeneca vaccine to Nigeria to allow the country to fight the COVID-19 pandemic. The vaccines, received on Tuesday, August 17, 2021, were given to Nigeria through the COVAX initiative, bringing the total number of COVID-19 Vaccine AstraZeneca doses delivered to the nation through COVAX or government agreements to over 4.6 million. COVAX is a global initiative co-led by the Coalition for Epidemic Preparedness Innovations (CEPI), Gavi (the Vaccines Alliance) and the World Health Organisation (WHO), which works with governments and manufacturers to accelerate the development, production and equitable access

By Modupe Gbadeyanka **To Receive Another N200m Recovered Looted Funds Governor AbdulRahman AbdulRazaq of Kwara State has disclosed that the Economic and Financial Crimes Commission (EFCC) has asked his administration to receive another N200 million recovered looted funds. The Governor, in a statement issued by his Chief Press Secretary (CPS), Mr Rafiu Ajakaye, on Friday, said the state government under him will do the right thing so as not to be a regular visitor to the office of the anti-graft agency after his tenure like his predecessors. “We have to do the right thing and be cautious. We have seen