OPEC+ ministers to talk on Monday, seeking to stabilize oil price

OPEC+ ministers to talk on Monday, seeking to stabilize oil price

Energy ministers from the OPEC+ oil cartel would conduct a video conference on Monday, in an effort to find a way to stabilize prices for the commodity, Azerbaijan announced on Friday. “This meeting is being held at the invitation of the kingdom…

German government, Lufthansa negotiating state aid for ailing airline

German government, Lufthansa negotiating state aid for ailing airline

Germany’s flagship carrier Lufthansa is in negotiations with the government about possible state aid for the aviation giant which has been battered by massive cancellations, due to coronavirus outbreak. Progress has been made in the talks and a decision should soon be…

Nigeria further reduces pump price of petrol to N123.50 per litre

Nigeria further reduces pump price of petrol to N123.50 per litre

The Petroleum Products Pricing Regulatory Agency (PPPRA) has announced further reduction of the pump price of Premium Motor Spirit (PMS) also known as petrol from N125 to N123.50k per litre. The agency made the announcement in a statement singed by its Executive…

Nigeria earns $32.63bn from oil, gas sector in 2018 — NEITI

Nigeria earns $32.63bn from oil, gas sector in 2018 — NEITI

The Nigeria Extractive Industries Transparency Initiatives (NEITI) said Nigeria earned a total of 32.63 billion dollars from the oil and gas sector in 2018. NEITI disclosed this in the Oil and Gas industry Audit Report released in Abuja, on Monday. It said…

COVID-19: Central Bank of Nigeria to remain operational

COVID-19: Central Bank of Nigeria to remain operational

CBN building in Abuja Following the current impact of the Coronavirus (COVID-19) on the global economy coupled with efforts by the Nigerian Government, including partial lock down in some states and at the federal level, to check the spread of the virus…

CBN monetary committee agrees to retain Monetary Policy Rate at 13.5%

CBN monetary committee agrees to retain Monetary Policy Rate at 13.5%

CBN Governor, Emefiele CENTRAL BANK OF NIGERIA COMMUNIQUÉ NO. 129 OF THE MONETARY POLICY COMMITTEE MEETING OF MONDAY 23RD AND TUESDAY 24TH MARCH 2020 The Monetary Policy Committee (MPC) met on the 23rd and 24th March 2020, amidst heightened uncertainty in the…

COVID-19: Central Bank of Nigeria to inject N1trn stimulus on economy

COVID-19: Central Bank of Nigeria to inject N1trn stimulus on economy

CBN Governor, Mr. Godwin Emefiele ⊕Meets with Bank Chiefs on March 21 ⊕Health sector to get additional N100bn loan boost Just two days after it unveiled a six-point palliative to ameliorate the continued impact of the corona virus on the Nigerian economy…

Bill Gates steps down from Microsoft board to focus on philanthropy

Bill Gates steps down from Microsoft board to focus on philanthropy

Bill Gates Microsoft co-founder Bill Gates is stepping down from the company’s board to spend more time on philanthropic activities. He says he wants to focus on global health and development, education and tackling climate change. One of the world’s richest men,…

NNPC disengages 400 staff, appoints Obateru, new spokesperson

NNPC disengages 400 staff, appoints Obateru, new spokesperson

The Nigerian National Petroleum Corporation, NNPC, has disengaged over 400 senior staff nationwide, with effect from Thursday, March 12, 2020. According to sources in the NNPC, the disengagement affected mainly staff who were scheduled to retire between now and 2022, while it…

CBN debunks rumour of devaluation of naira

CBN debunks rumour of devaluation of naira

CBN Corporate Headquarters, Abuja The Central Bank of Nigeria (CBN) has expressed displeasure about the rumours and speculative activities of unscrupulous players in the foreign exchange market claiming the apex bank was about to devalue the naira. It said the rumour has…