FG to establish technology development bank:
The Federal Government is in the process of establishing a science and technology development bank, the Minister of Science and Technology, Dr. Ogbonnaya Onu, has said.
India-Africa Bilateral Trade Hits $72 Billion:
The bilateral trade between India and Africa rose from $30 billion in 2008 to $72 billion in 2015.
Kachikwu: Nigeria to Become Exporter of Refined Fuel:
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has said that Nigeria will begin to export refined petrol and other petrochemical products within the next four years if plans to ramp up the country’s domestic refining capacity work out well.
Nigeria eyes 2.8mb/d of crude, says Buhari:
President Muhammadu Buhari yesterday said as part of measures to reposition the nation’s oil industry, the government has started the process of reducing production costs and encouraging exploration so as to attain a production level of about 2.8 million barrel per day (mbpd).
UBA grosses N315b, pays N22b dividend:
United Bank for Africa (UBA) Plc recorded considerable growths in the top-line and bottom-line in 2015, bucking a downtrend that had seen many banks warning of declining earnings.
GNI denies insuring collapsed Lekki building:
Great Nigeria Insurance (GNI) yesterday denied insuring the collapsed five-storey building in Lekki, Lagos in which 35 people perished.
Electronic payments add $640m to Nigeria’s GDP in five years:
A Visa commissioned study has revealed that electronic payments added $640 million to Nigeria’s Gross Domestic Product (GDP) between 2011 and 2015.
France’s proposed palm oil tax threatens African small farmers :
Initiative for Public Policy Analysis (IPPA) – the Nigeria-based public policy think tank, has condemned the French Government’s proposed tax on palm oil that will be of disadvantage to Africa, and undermine efforts to alleviate poverty across the continent.
NNPC, oil firms earn N65bn from gas export:
Oil and gas companies operating in Nigeria and the Nigerian National Petroleum Corporation, NNPC, earned about $323.55 million, or N64.71 billion from the export of gas in January, according to data obtained from the Corporation.
Petrol scarcity’ll continue — NUPENG:
The Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has said that the ongoing fuel scarcity in the country will continue until the Federal Government took affirmative action on petroleum products availability.