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Lagos cooperatives investment hits N152 billion

Ahead of the 2018 United Nations International Day of Cooperatives, the Lagos State Commissioner for Commerce, Industry and Cooperatives, Mrs. Olayinka Oladunjoye, has disclosed that Cooperatives investment has risen to N152billion Addressing journalists in Lagos yesterday, she said the importance of Cooperatives to the growth and development of the economy …

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Nigeria’s LPG market gets $120m ship building contract

THE quest to increase local supply of Liquefied Petroleum Gas (LPG) has attracted a major boost as Temile Development Company Limited, an indigenous shipping company operating in the Nigerian oil and gas industry, signed a ship building contract with South Korean shipbuilder; Hyundai Heavy Industries Limited to build one firm …

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Buhari meets Okonjo-Iweala in Mauritania

President Muhammadu Buhari has met with former finance minister, Dr. Ngozi Okonjo-Iweala, on the sidelines of the 31st session of the AU Summit in Nouakchott, Mauritania. Ngozi recently launched a book on her tenure,  which she titled, ‘Fighting Corruption is Dangerous’. It is doubtful if President Buhari will ever heed …

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Oil Rallies Towards $80

Brent rose more than 1 percent in early trading on Friday, and is not far off of $80 per barrel. This week saw prices gain about 10 percent compared to last week after a combination of fears of Iran production outages, disruptions in Libya and a bullish stock draw in …

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NNPC underpayment: Adeosun asks Buhari, govs to act

• ‘We had agreement with governors on N147bn remittance’ Olalekan Adetayo, Femi Makinde, Simon Utebor, Mudiaga Affe, Ifeanyi Onuba and Okechukwu Nnodim The Minister of Finance, Mrs Kemi Adeosun, on Thursday said she had briefed President Muhammadu Buhari, Vice President Yemi Osinbajo and state governors on the monthly meeting of …

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FAAC ends crisis, allocates N647bn to FG, states, LGs

The Federation Accounts Allocation Committee has finally resolved to allocate funds to the three tiers of government. The FAC committee had a slight disagreement yesterday, a development that made it impossible to share the statutory allocation. The meeting had ended in a deadlock following disagreement about the revenue figures remitted …

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Oil prices fall as OPEC raises production target from July

Nigeria’s Bonny Light maintain rising profile Crude oil prices fell yesterday after the decision by the Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC members to raise crude supplies to about one million barrels by starting from July 1. The move was aimed at compensating producers for production loss …

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OPEC, non-OPEC jack output by 1m barrels

Russia and other non-members of Organisation of Petroleum Exporting Countries (OPEC) have agreed to join OPEC in raising oil production output by one million barrels per day (mb/d) from July 2018. The Minister of Energy and Industry of United Arab Emirates (UAE) Mr Suhail Al Mazrouei, made the decision known …

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