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Finance & Economy - Page 152

Venezuela Says U.S. Oil Sales Proceed Commercially as Revenues Climb Into Billions

Venezuela’s interim president, Delcy Rodríguez, has defended recent crude oil sales to the United States as strictly commercial transactions conducted through the state oil company, Petróleos de Venezuela, S.A. (PDVSA), insisting that pricing mechanisms follow international norms and that proceeds are being

February 13, 2026

Business·Finance & Economy·Startup

El-Rufai Plots $100m Private Sector Return, Reveals What Nigerian Youths Need

Ex-governor Nasir El-Rufai, who used to be a player in Nigeria’s private sector before emerging as an accidental public servant, is planning to launch a $100 million venture capital (VC) fund early next year for startups in Nigeria, particularly those in the

December 4, 2023

Africa·Business·News·Oil & Gas

Nigeria, Ghana, Others Lead Consortium To Deploy 5 GW Battery Energy Storage Systems

Ten countries, including Egypt, Ghana, India, Kenya, Malawi, Mauritania, Mozambique, Nigeria, and Togo, joined the Battery Energy Storage Systems (BESS) Consortium. Spearheaded by the Global Energy Alliance for People and Planet’s Global Leadership Council (GLC) At the 2023 United Nations Climate Change

December 3, 2023

Business·News·Oil & Gas

Port Harcourt Refinery Is Over 75% Completed, Says Managing Director

Amidst the flurry of refurbishment activities at the Port Harcourt refinery, Ibrahim Onoja, the Managing Director, disclosed that significant strides have been made, with over 75% of the project already completed. Onoja’s revelation, based on a report compiled by the Nigerian National

December 2, 2023

Naira Falls To ₦1,530/$ At Official Market After Public Holiday

Business·Currency·News

Naira Drops By 11.39% To Hit N927/$1 In NAFEM, N1165/$1 In Parallel Market

The Nigerian Naira plunged to an unprecedented low on Friday, closing at N927.19/$1 in the official market and hitting N1165/$1 in the parallel market. Financial analysts expressed growing concerns as the domestic currency witnessed an 11.39% depreciation within a day, marking a loss

December 1, 2023

Nigeria’s Oil Production Declines By 33,000 Barrels As OPEC Reports Setback In September

Business·News·Oil & Gas·World News

OPEC Announces 1 Million Bpd Cut In Monthly Oil Output For 2024 To Bolster Market Stability

In a move aimed at fortifying oil market equilibrium, the Organisation of Petroleum Exporting Countries (OPEC) and its allies announced on Thursday an additional reduction of 1 million barrels per day in monthly oil output, set to commence in 2024. Revealed during

December 1, 2023

Senate Speedily Passes N2.176trn Supplementary Budget, Cites Dry Season As Reason

Business·News·Oil & Gas

Nigerian Senate To Enlist EFCC Against 15 Oil Firms Over N135 Billion CBN Loan

In a heated session, the Nigerian Senate Committee on Gas Resources wielded the sword of the Economic and Financial Crimes Commission (EFCC) against 15 oil and gas companies alleged to have misappropriated a sum of N135 billion in Central Bank of Nigeria

December 1, 2023

Brent Crude Surges To $83 As African Producers Face Quota Tensions

Africa·Business·News·Oil & Gas·World News

Brent Crude Oil Surges To $83 As African Producers Face Quota Tensions

Amidst escalating tensions within the Organization of Petroleum Exporting Countries (OPEC), Brent crude surged to $83.60 per barrel, setting the stage for OPEC’s meeting today. The meeting, which was delayed due to discord among oil-producing nations in Africa demanding higher production baselines, remains

November 30, 2023

Business·Finance & Economy·News

Nigeria’s Economy Will Not Reach $1 Trillion By 2030, Says BDAN Chairman

The Chairman of the Bank Directors Association of Nigeria (BDAN), Mustafa Chike-Obi, dismissed the possibility of Nigeria achieving a $1 trillion economy by 2030. This came after Vice President Kashim Shettima spoke on Tuesday in Abuja during the opening session of the

November 30, 2023

Business·Currency·News

Naira Appreciates To N831/$1 In Official Market Amid CBN’s FX Initiative

The Nigerian naira witnessed a 6.06% appreciation against the dollar, closing at N831.47 on Wednesday at the official market. This upturn follows the Central Bank of Nigeria’s (CBN) move to address the FX backlog, fostering renewed optimism among experts and investors. Yemi

November 30, 2023

Dangote, Others Summoned As Nigeria's Natural Gas Production Drops Despite N250bn Fund

Business·News·Oil & Gas

Dangote, Others Summoned As Gas Production Drops Despite N250bn Fund

The Nigerian Senate has summoned Dangote Refinery and several other prominent entities for an urgent inquiry into the decline in Nigeria’s natural gas production despite the injection of N250bn intervention fund. “The decline occurred despite the infusion of N130bn into 15 companies

November 30, 2023

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Trump Threatens 100% Tariffs on Canadian Goods Over China Trade Deal

U.S. President Donald Trump has threatened to impose 100 per

Nigeria Tightens Rules for Courier Companies Using Prepaid Imports

Nigeria’s customs authority has introduced new rules for courier companies

Behind the Geregu Power Sale: Politics and a $750m Deal

The sale of Geregu Power, one of Nigeria’s largest electricity

Recapitalisation: UBA Extends Deadline For Rights Issue

UBA Hits Billion-Naira Milestone: Rights Issue Success Pushes Capital Base Above ₦500bn

United Bank for Africa (UBA) has successfully concluded its rights

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Finance & Economy - Page 152

Venezuela Says U.S. Oil Sales Proceed Commercially as Revenues Climb Into Billions

El-Rufai Plots $100m Private Sector Return, Reveals What Nigerian Youths Need

Nigeria, Ghana, Others Lead Consortium To Deploy 5 GW Battery Energy Storage Systems

Port Harcourt Refinery Is Over 75% Completed, Says Managing Director

Naira Drops By 11.39% To Hit N927/$1 In NAFEM, N1165/$1 In Parallel Market

OPEC Announces 1 Million Bpd Cut In Monthly Oil Output For 2024 To Bolster Market Stability

Nigerian Senate To Enlist EFCC Against 15 Oil Firms Over N135 Billion CBN Loan

Brent Crude Oil Surges To $83 As African Producers Face Quota Tensions

Nigeria’s Economy Will Not Reach $1 Trillion By 2030, Says BDAN Chairman

Naira Appreciates To N831/$1 In Official Market Amid CBN’s FX Initiative

Dangote, Others Summoned As Gas Production Drops Despite N250bn Fund

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Senate U-Turn or Smoke Screen? Loopholes in Electoral Reform Persist

Opinion: Why Afreximbank’s Break with Fitch Exposes a Deeper Rift

Political Heavyweights Visit El-Rufai, Call for Respect for Rule of Law

U.S. Energy Secretary Wright Visits Caracas to Boost Venezuela Energy Ties

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Chinese Embassy Denies U.S. Allegations of Illegal Mining, Terror Funding in Nigeria

Dollar Rate Drops To N1,404/$ In Black Market, Rises To N1,355/$ In Official Window

Ramadan Clash: Bashir Ahmad Urges INEC to Review 2027 General Election Dates

NGX Market Cap Rises By N2.36trn To N117trn

Trump Threatens 100% Tariffs on Canadian Goods Over China Trade Deal

Nigeria Tightens Rules for Courier Companies Using Prepaid Imports

Behind the Geregu Power Sale: Politics and a $750m Deal

UBA Hits Billion-Naira Milestone: Rights Issue Success Pushes Capital Base Above ₦500bn

Chinese Embassy Denies U.S. Allegations of Illegal Mining, Terror Funding in Nigeria

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Finance & Economy - Page 152

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