Business

OPEC

OPEC sees fresh challenges in 2019 as Qatar exits group after 57 years

The 175th OPEC meeting opens in Vienna.

Oil rig

Oil falls amid stock market slide, as OPEC meets

The OPEC meeting is expected to result in a supply cut aimed at draining the oil glut.

Ahmed Kuru, Managing Director, Asset Management Corporation of Nigeria (AMCON)

AMCON to help partners recover N740bn from obligors

Corporation says recovery of the debts would go a long way in boosting the economy of Nigeria.

NNPC TOWERS

Yuletide: NNPC says over 170mn litres of petrol stocked in own depots nationwide

The Petroleum Products Marketing Company says available stock of petrol enough to last 45 days.

Nigerian-Stock-Exchange

NSE: Investors net worth drops by N581bn in November

Diamond emerged worst performing stock in percentage terms, dropping by 53.24 per cent to close at 65k.

Central bank of Nigeria (CBN)

Repatriation of $8.1 billion Profits: MTN, CBN opt for out-of-court settlement

Two top officials had earlier hinted on a possible out-of-court settlement.

Central bank of Nigeria (CBN)

CIBN urges Nigerians abroad to invest in home country

Institute says it is engaging Nigerians abroad on the issue.

Oil rig

OPEC works on deal to cut output, still needs Russia on board

Russia’s resistance to a major cut has been the main stumbling block.

CHEVRON logo used to illustrate the story. [Photo credit: Guardian Nigeria]

$69 Million Oil Shipment: Nigeria’s suit against Chevron, Total to continue February

The judge was absent.

Oil prices rise 2% on expectations of production cuts

OPEC will meet on Thursday in Vienna on future output and to discuss strategy with other producers.

NAICOM

NAICOM workers issue seven-day notice to commence indefinite strike

The association says its main grouse was the decision “to stagnate the career progression of staff of the commission.”

MTN

$1.3bn tax: Absence of judge stalls MTN vs AGF suit

The court consequently adjourned the hearing until Feb. 7, 2019.

Minister of Trade and Investment, Okechukwu Enelamah

Enelamah calls for collaboration of States, LGAs on ease of doing business

He assured the state and local governments of the support of the federal government in their reform efforts.

An inland Port used to illustrate the story

Nigeria loses $9.1bn revenue to foreign ships yearly – Shippers Council

“There is also a lack of government infrastructure and government support.”

IMF Managing Director (MD), Christine Lagarde

IMF puts global debt at $180trn

“It is important, particularly for highly indebted emerging-market and low-income countries, to rebuild buffers.”

Diamond Bank

Diamond Bank no longer international; now national – Official

The Central Bank has approved Diamond Bank’s new status.

Naira-Dollar

Yuletide: CBN introduces $15,000 weekly special intervention for BDCs

Prior to this time, the intervention days are Mondays, Wednesdays and Fridays.

Google Impact Challenge

Winners emerge in Google Impact Challenge

All four winners will receive $250 000 each, while the eight runners up will each receive $125 000.

Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman,

NPA replies Senate on N177 billion unremitted revenue allegation

The NPA said the Senate’s allegation is “without foundation”.

Electricity station used to illustrate the story.

Nigerian power firm to sell electricity to Burkina Faso

The planned energy export is being put in place by the concessionaire of Kainji and Jebba hydro power stations, Mainstream Energy Solutions Limited, MESL.

mobile-phones

Nigeria’s active telephone lines increase to 165m in October – NCC

The regulatory body said that the lines increased by 3,180,525 from the 162,058,918 recorded in September.

Oil rig

Oil falls, heading for biggest monthly slide since 2008

The losses mark the largest one-month fall since the depths of the financial crisis in 2008.

Diamond Bank

UK firm mulls investing $1.2bn in Nigeria

The firm plans to open offices in Lagos and Nairobi, Kenya’s capital, an official says.

Ibe Kachikwu

Nigeria indecisive over oil output cuts as OPEC meets

Nigeria was excluded from the previous round of cuts, which began in 2017.

Mining site used to illustrate the story.

Nigeria awards exploration contracts to 10 mining firms

The minister did not say how much the contracts were worth.