Ogaga Ariemu

[ad_1] The Nigerian government has announced that a consortium of investors from South Korea has set up machinery to build four 100,000-barrel capacity refineries in the country. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, disclosed this on Tuesday at a summit organized by the Crude Oil Refinery-owners Association of Nigeria in Lagos. […]

[ad_1] Nigeria’s capital importation, known as foreign investments, rose by 152.81 per cent to $2.604.50 million in the second quarter of 2024, compared to $1.030.21 recorded in the corresponding quarter of 2023. The National Bureau of Statistics disclosed this in its latest Capital Importation Data released on Tuesday. However, this represents a 22.85 per cent

[ad_1] The import of Automotive Gas Oil (Diesel) into Nigeria increased by 22.66 percent to 4.94 billion liters in 2023 from 4 billion liters in 2022. The National Bureau of Statistics disclosed this in its latest Petroleum Products Distribution Data released recently. The data also showed that 109.39 million liters of Diesel were locally produced

[ad_1] President Bola Ahmed Tinubu said his administration has cleared N30 trillion ways and means loan from the Central Bank of Nigeria. The President disclosed this on Tuesday during his 64th Independence Day celebration nationwide broadcast. According to him, his administration in the last 16 months has made gains in retooling and repositioning Nigeria’s economy.

[ad_1] The National Bureau of Statistics has said that Spain, the United States of America, France, India and The Netherlands are Nigeria’s five top export destinations in the second quarter of 2024. NBS disclosed this in its latest Foreign Trade Data released on Wednesday. The data showed that the most exported commodities included crude oil,

[ad_1] The Nigeria Labour Congress has confirmed that its President, Joe Ajaero was arrested by operatives of the Department of State Services, DSS on Monday. NLC disclosed this in a terse statement through its official X account on Monday. NLC described the arrest as an assault on Nigerian workers by President Bola Ahmed Tinubu’s government.

[ad_1] Amid the controversy surrounding the order by a French court which granted a Chinese firm the license to seize three presidential jets belonging to the Nigerian Government, Biafra agitator, Simon Ekpa has claimed that the United States Government will seize more Nigerian assets. Recall that a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited,

[ad_1] The Minister of Solid Minerals Development, Dele Alake has approved the transfer of N2.5 billion mining sector support fund from the Bank of Industry to the Solid Minerals Development Fund, SMDF. The Minister disclosed this in a statement on Friday by his spokesperson, Segun Tomori after meeting with Stakeholders on the review of mining

[ad_1] The naira has recorded three consecutive days of appreciation against the dollar at the official foreign exchange market amid the Central Bank of Nigeria’s latest FX Retail Dutch Auction System. FMDQ data showed the naira further strengthened to N1, 596.52 per dollar on Wednesday from N1601 exchanged on Tuesday. This represents a 4.48 gain.

[ad_1] The International Monetary Fund has said electricity subsidies, tax breaks, or holidays are detrimental to productivity and welfare if not effectively implemented. The Washington-based lender disclosed this in a new report titled ‘Industrial Policy Is Not a Magic Cure for Slow Growth’. According to the global lender, Industrial policy, in which governments support individual