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NCDMB, NAICOM LAUNCH INSURANCE SERVICES GUIDELINES
The Nigerian Content Development and Monitoring Board (NCDMB) and the National Insurance Commission (NAICOM)have signed insurance services guideline which will oblige the oil and gas industry to patronize the local insurance sector, thereby retain spend in the economy. The guidelines…
Okonjo-Iweala warns of grim impact of global crises on the poor
Director General of the World Trade Organization, Dr Ngozi Okonjo-Iweala, says a combination of grim developments across the world poses gloomy future for the world populations, especially those from poor nations. Dr Okonjo-Iweala who chairs the ongoing meeting of more…
Nigeria’s public debt crosses $100 bn mark
Nigeria’s total debt stock has at the end of first quarter of 2022 reached N41.60 trillion and crossed the $100 billion mark. The Debt Management Office (DMO) declared that the country’s debt recorded a quarterly increase of N2.04 trillion. The…
Ukraine war: NLNG can’t compete for new market space
Sopuruchi Onwuka The new redirection of energy supply flows has become the real prize of the raging war following the barrage of diplomatic and trade sanctions countries in the Western military and economic alliances slammed on Russia in response it…
Buhari, Kyari woo petroleum investors in Spain
The Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari has reiterated his commitment to sustain the strategic energy partnership between Nigeria and Spain. Mallam Kyari who is also the Group Managing Director of the…
Why OPEC+’s quota boost has no pull on prices
Sopuruchi Onwuka The decision by world petroleum market factor, the Organization of Petroleum Exporting Countries (OPEC) to boost nominal production by 648,000 barrels per day addressed the concerns of industrial economies but failed to shot down prices. Market sources on…
‘Deteroriating economic outlook pose risk transmission to banks’
Credit rating agency, Fitch Ratings, has declared in a new report Nigerian banks face potential global risk transmission, explaining that operating environments could deteriorate between now and 2023. Fitch said adverse global macroeconomic conditions are already affecting the Nigerian economy,…
Russia seeks new buyers after EU sanctions to cut oil imports
The government of Vladimir Putin of Russia has declared intention to divert its crude oil shipments to other countries after major customers in the European Union voted to drastically cut imports from the country. Russia is also cutting off more…
Economic powers declare support for APEC
Representatives of seven nations, including those who walked out of an Asia-Pacific trade ministers meeting in Bangkok to protest Russia’s invasion of Ukraine, said on Sunday they support the organization and host nation Thailand. Representatives of the United States, Australia,…
NNPC to begin AKK pipeline gas delivery by March, 2023
The Board of the Nigerian National Petroleum Company Limited (NNPC) has expressed satisfaction with the progress of work done on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project and believed that the first Quarter 2023 target for delivering it will be met….
