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Julius Berger diversifies into oil & gas industry

Julius Berger Nigeria Plc has announced its diversification into the oil and gas industry by acquiring a 20 per cent equity stake in Petralon Energy Limited. The firm said in a statement on Monday, which was made available to the Nigerian Stock Exchange, that the acquisition was in line with its strategic partnership and joint […]

Border closure pushes inflation rate to 11.24 per cent —NBS

The National Bureau of Statistics on Tuesday released the Consumer Price Index which measures inflation with the index rising to 11.24 per cent in September. The 11.24 per cent represents an increase of 0.22 per cent when compared to the 11.24 per cent recorded in August. The prices of food items have been on a […]

IMF cuts 2019 global growth estimate to 3%

The world economy is slowing to its weakest pace since the global financial crisis, amid continuing trade conflicts that have undercut business confidence and investment, the IMF said Tuesday. It cut the growth forecast for 2019 to 3.0 per cent in its latest World Economic Outlook report, and lowered the 2020 estimate to 3.4 per […]

Energy demand to rise by 33%, requires $11trn investment

THE Organisation of Petroleum Exporting Countries, OPEC, has predicted that energy demand would rise by 33 per cent from 2015 to 2040. According to OPEC, the rise in demand would require almost $11 trillion in oil and exploration and production during the period. OPEC Secretary General, HE Mohammad Sanusi Barkindo, who made the disclosure at […]

‘Government records over $9.29 billion investment inflow in third quarter’

Over $9.29 billion worth investments came into the nation’s economy in quarter three (Q3) of 2019, according to the Nigerian Investment Promotion Commission (NIPC’s) July to September, 2019, Newsletter. Broken down, NIPC said a total of 13 projects across four states and offshore Nigeria were announced by investors from four countries. The investments however, fall […]

Pound rallies as EU’s Barnier fans Brexit deal hopes

The pound rallied Tuesday after the European Union’s top Brexit negotiator flagged the possibility of a divorce deal this week, reviving hopes Britain could avoid crashing out of the bloc. With the exit deadline on October 31, Michel Barnier’s comments reinforced hopes for an eventual agreement between the two sides and came after reports said […]

SystemSpecs urges FG to create conducive business environment

Perturbed by the rising rate of poverty in Nigeria, the Managing Director of SystemSpecs, John Obaro, has called on the Federal Government to create a favourable business environment, invest in technical education and mentoring for its elimination. Obaro who spoke at the Foursquare Gospel Church 6th Public Lecture with the theme, ‘Eradicating Poverty in Nigeria:The role […]

MTN launches mobile money transfer service for S’West

In a bid to ensure financial inclusion for millions of underbanked and unbanked people across the country, Y’ello Digital Financial Services (YDFS) Limited, a subsidiary of MTN Nigeria, has launched its mobile money transfer services for South West Region. The regional launch and sensitisation, which introduced the super-agent network service, MoMo Agent, to Yorubaland, took place […]

Shell has ‘no choice’ but to invest in oil, CEO says

The protests against government inaction over climate change may be growing around the world, but at least one man is still betting the future of his company on fossil fuels. Ben van Beurden, the chief executive of Royal Dutch Shell says he sees abundant opportunity to make money from oil and gas in the coming decades despite the […]

‘High risk’: London policy chief sounds Brexit jobs alarm

Britain’s vast financial services industry will lose more jobs to Europe over the coming years because of Brexit, the City of London’s policy chief told the Reuters news agency, warning people not to be duped by the low number of job moves to the continent so far. The City of London, home to global foreign exchange, bonds and fund […]

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