The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the extension of the deadline for the registration and submission of pre-qualification documents for the 2024 oil block licensing round. NUPRC chief executive, Gbenga Komolafe announced the extension in a statement. Komolafe said the registration and submission of pre-qualification documents, initially scheduled to close on June […]

Securities and Exchange Commission (SEC), has commended the Board and Management of NASD Plc on a series of innovations embarked upon by the Exchange to enhance its competitiveness and overall development of the Nigerian capital market. The Chairman, NASD, Mr Kayode Falowo, led  a courtesy visit to the new Director General of the Commission, Dr Emomotimi […]

African shipping stakeholders have accused their foreign counterparts of using fellow Africans to ensure that the continent’s shipping capacity does not grow. The stakeholders explained that these foreign shipping lines who are afraid of competition from their African counterparts and as such do everything within their power to ensure that the shipping sector does not grow […]

NIGERIA currently ranks 88th position out of 141 countries in the World Bank Logistics Performance Index, LPI, indicating a minimal improvement in the global logistics ranking of 91st in 2022. The LPI is an interactive benchmarking tool created to help countries identify the challenges and opportunities they face in trade logistics and what they can do to […]

In furtherance of its commitment to monetize Nigeria’s vast natural gas resources, the NNPC Limited has executed a Project Development Agreement (PDA) with Golar LNG for the deployment of a Floating Liquefied Natural Gas (LNG) offshore Niger Delta, Nigeria. The signing ceremony, which took place in Abuja, was attended from the NNPC Limited side by […]

At the backdrop of the banking industry recapitalization drive, Fidelity Bank Plc has concluded arrangements to raise a total of ¦ 127.1 billion by way of a Rights Issue to existing shareholders and a Public Offer. The combined offer is part of the Bank’s strategy to increase its share capital base in compliance with the revised […]

Abuja-Power generation companies in Nigeria, GenCos, yesterday raise the alarm over the imminent collapse of their operations, following a huge debt of N2 trillion and an estimated funding gap of N1.7 trillion contained in the 2024 Multi-Year Tariff Order. The companies said so far, only about 10 per cent of its monthly invoices for power […]