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Nigeria lost over N51.28bn worth of oil to activities of petroleum pipeline vandals in 2015, the Nigerian National Petroleum Corporation (NNPC) has said. Oil, the mainstay of Africa’s largest economy has been the bone of contention between the government and the Niger Delta militants. The contention is responsible for the loss of national revenue, which has hindered the production of 2.2 million …

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The Nigerian Stock Exchange (NSE) has officially launched a new market surveillance platform powered by SMARTS, Nasdaq’s flagship surveillance solution. According to a joint statement by Olumide Orojimi Head, Corporate Communications at the NSE and Ryan Wells of Nasdaq, which was made available to Financial Edge, explained that the technology will, amongst other things, enable NSE to proactively monitor market …

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Heritage Bank Plc, Nigeria’s Most Innovative Banking Services Provider, is set to restore Nigeria lost glory in the agricultural sector and reposition the country as the highest oil palm producer in the world with its recent signing of N232million Pilot phase of Out-growers Agreement with Biase Plantations Limited (BPL) and its joint venture partner, PZ Wilmar Limited. The pact was …

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Nigeria’s leading Pension Fund Administrator (PFA), Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic IBTC Holdings PLC, in furtherance of its commitment to corporate social investment (CSI) and environmental sustainability, has commissioned three blocks of sanitary facilities it renovated at the Nigerian Prisons Training School, Kaduna. These facilities are expected to uplift the health and living conditions of personnel …

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The Federal Government has allotted N400.5 million in its July 2019 and 2020 savings bond sales, the Debt Management Office (DMO) has said. The allotment results were obtained from the DMO’s website yesterday. About N160.7 million was allotted at 13.38 per cent, with 342 successful subscriptions to mature in July 2019. DMO noted that N239.8 million was allotted at 14.38 …

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Integrated Energy Trader, Oando Nigeria PLC is under a comprehensive investigation by the Securities and Exchange Commission (SEC), Channels Television has said. According to the TV station, it claimed that the Securities Commission conducted several weeks of investigations, upon which the Board and Management of Oando Nigeria have been written a formal letter to explain matters relating to observed malpractices …

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The Nigerian Content Development and Monitoring Board (NCDMB) has announced fresh plans to increase the Nigerian Content Intervention Fund (NCIF) to $200 million from the the initial $100 million. Executive Secretary of NCDMB, Simbi Wabote, stated this during a visit to the new Managing Director of the Bank of Industry (BoI), Mr. Olukayode Pitan, in Lagos. Wabote explained that the increase …

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The Poultry Association of Nigeria has expressed concerns over the 27 per cent interest rate available for lending to the agricultural sector, noting that it is not viable for the poultry industry. The President of the association, Mr. Ayoola Oduntan, stated this during the 2017 Poultry Summit in Lagos. He explained that the industry already being plagued by the high …

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The Nigerian Breweries Plc has introduced its first zobo-flavoured alcoholic drink, Ace Desire, to the Nigerian market. The Marketing Director, Nigerian Breweries Plc, Mr. Franco Maria Maggi, described the new product as a sophisticated blend of spirit, natural Hibiscus or zobo extracts. He spoke at the launch of the product in Lagos, saying, “This rich combination of a balanced mix …

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The Minister of Finance, Mrs Kemi Adeosun said the country has no choice but to continue to borrow in other to implement the Federal Government’s Economic Recovery and Growth Plan. Adeosun said this in a statement signed by the Director of Information, Federal Ministry of Finance, Mr Salisu Dambatta on Thursday in Abuja. The minister said this following recent report …

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