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Nigeria Oil Output Rises to 1.27mbpd, OPEC Members Take Cuts Nigeria recorded an increase in oil production output of 171,000 barrels per day, according to the oil cartel report, rising to 1.27 million barrels of crude oil supply to the market per day in May 2023. The Organization of the Petroleum Exporting Countries (OPEC) accelerated […]

Uganda Keeps Benchmark Rate at 10% The Bank of Uganda (BoU) Tuesday said that the Monetary Policy Committee (MPC) maintained the Central Bank Rate (CBR) at 10.0% as inflationary pressures are easing and economic recovery is underway. Amidst uncertainties, the hold position is to drive economic momentum across the country’s major economic segment as inflation […]

Lekki Port Takes Delivery of Tugboats from NPA The management of Lekki Port LFTZ Enterprises Ltd., promoters of Lekki Deep Sea Port, has confirmed the delivery of two 80-ton Bollard Pull tugboats from the Nigerian Ports Authority (NPA). Mr Laurence Smith, the Chief Operating Officer, Lekki Port, confirmed this in a statement on Tuesday in […]

Nigeria Restores Seplat Energy CEO’s Immigration Documents Seplat Energy said Tuesday that Roger Brown resumed his chief executive officer role after obtaining regulatory permission to work and stay in Nigeria, according to a regulatory filing submitted to the Nigerian Exchange. In the note, the company explained that the Nigerian Ministry of Interior & Immigration Service […]

FG Issues Crude Export Terminal Licences to NNPCL, Belema The Federal Government of Nigeria has issued licences to NNPCL Exploration and Production Ltd. and Belema Sweet Export Terminal Ltd for the establishment of crude export terminals. The licences were approved and issued to the companies on Tuesday in Abuja by Mr Farouk Ahmed, Authority Chief […]

MultiChoice Returns to Profitability MultiChoice Africa Holdings has demonstrated remarkable resilience and achieved profitability, solidifying its position as a leader in African entertainment, according to a statement release on Tuesday. With the release of MultiChoice Group’s 2023 financial results, MultiChoice Africa announces its return to profitability, marking a significant milestone in the company’s journey. Despite […]

Nigerian Exchange Skyrockets On Positive Reactions to CBN Gov. Suspension The Nigerian Exchange (NGX) equities segment opened the week on an impressive note as investors reacted positively to the new administration’s policy signals and planned financial sector reforms. The local bourse booms, recording sky-high gain due to unusual buying interest across major tickers after the […]

All sorts of automobiles, whether privately or publicly owned, that are imported into Nigeria must pay tax as required by law, according to the Nigeria Customs Service. Deputy Comptroller of Customs Jack Okpabi, who doubles as the Coordinator of Rapid Response Squad (RRS) Headquarters, stated this in Abuja at a press briefing while displaying exotic […]

Over 100 persons, including a father and his four children have reportedly lost their lives in a boat accident at Egbu village, Patigi local government area of Kwara state. The incident, our correspondent gathered, occurred on Monday when the boat transporting them hit a tree due to a river wave. The victims were guests returning […]

Nigeria’s energy supplier, Seplat, has announced that the Ministry of Interior and the Nigeria Immigration Service have restored the work permit, Combined Expatriate Residence Permit and Aliens Card (“CERPAC) and other visas for the entry or stay in Nigeria of the company’s Chief Executive Officer (CEO), Mr Roger Brown. The company in a filing to […]

Global watchdog, Amnesty International on Tuesday claimed that the killing spree that characterized the last administration, is continuing under President Bola Tinubu. In a statement, its Acting Nigeria Director, Isa Sanusi, said about 123 deaths have been recorded since Tinubu took power on 29 May 2023, which was just 15 days back. Sanusi was quoted […]

[Nbcnews.com] The courtroom was hushed throughout the brief hearing. A stone-faced former President Donald Trump entered a not guilty plea Tuesday to charges he lied and schemed to hold on to sensitive national security material that he was supposed to have surrendered when he left the White House. Trump, 76, was indicted last week on […]