OPEC's compliance with production cuts fell in June to its lowest levels in six months as several members pumped much more oil than allowed by their supply deal, thus delaying market rebalancing, the International Energy Agency said on Thursday.
Tin-Can Generates N130bn In 6 Months - Customs
The Tin-Can Island Command of the Nigeria Customs Service (NCS) says it has generated about N130bn between January and June, 2017. The Public Relation Officer of the Command, Uche Ejesieme stated this on Wednesday in a revenue chart made available to journalists on Tuesday in Lagos.
Gas Supply Shortage: Electricity Grid loses 603mw in 24 Hours
Electricity generation in the country dropped to 3,511 megawatts (mw) on Monday, following a loss of 603mw, 24 hours after a peak capacity of 4,114mw was reached.
Hawking, Mutilation and Spraying of the Naira are punishable offences - CBN
The Central Bank of Nigeria (CBN) has warned Nigerians to desist from mutilating, hawking or spraying of the Naira as anyone caught would be made to face the wrath of the law. The Acting Director, Corporate Communication at the apex bank, Isaac Okorafor stated this during an interactive session with NAN on Wednesday in Abuja.
Guaranty Trust Bank Reviews Restrictions On Naira Mastercard
Emerging reports indicate that Guaranty Trust Bank (GTBank) may have reviewed restrictions hitherto placed on its Naira denominated MasterCard following series of complaints from customers. In a message sent to customers and published on its website, the bank stated that the update would take effect from 10 July 2017.
Nigeria Faces Debt Distress Amidst Lean Revenue - DMO
The Debt Management Office (DMO) has warned that unless the country develops other sources of revenue asides oil, Nigeria may run into a debt distress if there is a prolonged shock on its oil.
Etisalat Pulls Out Of Nigeria
Telecommunication giant, Etisalat has pulled out of Nigeria following a breakdown in discussion with the government and relevant partners to salvage the company from total collapse. On Monday, Reuters reported that the Chief Executive Officer of Etisalat International, Hatem Dowidar terminated its management agreement with its Nigerian arm and has given the operator three weeks to phase out the brand.
Nigeria To End Rice Import By November - Ogbeh
Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has disclosed that Nigeria will be self-sufficient in rice production by November this year, which will lead to a reduction in the price of the commodity.
Port Workers Set For Nationwide Protests Tuesday
Port workers are set to embark on nationwide protests on Tuesday over their disagreement with some sections of the Ports and Harbour Bill, which they observed could lead to massive job losses.
Nigerian Stock Exchange Equities in Bullish Trading, Grows By 0.66%
The volume of shares traded on the Nigerian Stock Exchange (NSE) on Tuesday improved 20.15 percent and the equity market appreciated by 0.66 per cent, just as the market capitalisation rose by N74 billion due to price growth by some blue chips companies.
Nigeria To Earn $27b From Mines And Steel By 2025
The Ministry of Mines and Steel Development says it aims to contribute 27 billion dollars about (N9.7trillion) to the Nigeria's Gross Domestic Product (GDP) by 2025.