Business

The Nigerian National Petroleum Corporation (NNPC) has expressed interest in purchasing a 20 per cent minority equity stake in Dangote Refinery, Lagos, reputed to be Africa’s biggest oil refining facility and the world’s largest single-train plant.

Africa Daily News, New York gathered that the 650,000 barrels per day (bpd) integrated refinery, expected to process a variety of light and medium grades of crude, including petrol and diesel as well as jet fuel and polypropylene is owned by Nigeria’s Dangote Group and is worth about $15 billion.

It is designed to produce up to 50 million litres of petrol and 15 …

The Governor of the Central bank of Nigeria, Godwin Emefiele, has said that most transactions conducted in cryptocurrencies are illegitimate.

Emefiele was asked if he had a sense of consolation about the plunge in Bitcoin, and he responded by saying that the CBN has conducted research to show that most cryptocurrency transactions are illegitimate.

The CBN governor further revealed that under the Bitcoin cryptocurrency transactions, Nigeria comes 2nd but in the global size of the economy, Nigeria comes 27th.

Read Also: CBN Interventions In Agriculture For All Nigerians – Emefiele

Speaking further on the growth of cryptocurrency transactions compared …

The Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, says claims that interventions in the agricultural sector, favours a particular section of the country are inaccurate.

Emefiele spoke in Ado-Ekiti, Ekiti State while unveiling the 2020 wet season harvest aggregation and flag-off of the 2021 wet season input distribution in the South-West.

The CBN chief explained that interventions in the Anchor Borrowers’ Programme (ABP) were not only about rice production but had expanded to over 21 crops and evenly spread across Nigeria.

Emefiele disclosed that more than N300 billion had …

Cryptocurrencies are in a free-fall after China banned financial and payment institutions from providing cryptocurrency services.

The most popular of them, Bitcoin crashed to $30,201.96, from $40,000 overnight.

According to reports, Bitcoin has tumbled more than 50 percent from a record high of $64,895 hit on April 14.

It has also erased all of its gains since February 8, when mercurial Elon Musk, said Tesla acquired a stake of $1.5 billion worth.

He also said Tesla would accept it as a means of payment.

Read Also: Senate Summons CBN, SEC Over Cryptocurrency Ban

Musk’s tweet later put the digital currency …

A celebrated Nigerian media influencer and personality, Onyeka Chiemelie has unveiled a new entry to his list of business and entrepreneurship write-ups notching another literary masterpiece under his belt.

The book which has been titled ‘Easy Guide to Building a Seven Figure Online Business’ has been quoted to be an ‘boundary breaker’ in the world of business-related books and journals and the works is on its way to becoming and international best seller. It has been further endorsed by Onyeka Chiemelie to be an eye-opener as it shows how to manouvere through difficulties and obstacles that are related to the …

The Nigerian National Petroleum Corporation (NNPC) has announced that it has kicked off construction work in the Port Harcourt Refinery rehabilitation project with a firm commitment not to fail Nigerians.

A statement on Friday by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, quoted the NNPC Chief Operating Officer, Refineries & Petrochemicals, Engr Mustapha Yakubu, as saying that everything was being done to ensure that the project is delivered hitch-free and on schedule.

Speaking at the Technical Kick-off Meeting for the project held at the Port Harcourt Refinery Complex, Alesa Eleme, Rivers State, Engr …

The Finance, Budget, and National Planning Minister Hajiya Zainab Ahmed yesterday told the Senate that the Army got ₦1,008.84 trillion as budget releases between January 2019 and this year’s first quarter.

Mrs. Ahmed made the revelation when she appeared before the Senator Mohammed Ali Ndume-led Senate Committee on Army.

Citing a letter from the Chief of Defence Staff last week, Ndume said the military authorities complained that they had a shortfall of over ₦50 billion as far as fund releases from the Finance ministry was concerned.

Ahmed, however, gave the breakdown of how her ministry disbursed N1,008.84 trillion to the …

Nigeria’s Vice President Yemi Osibanjo, yesterday announced that the Federal Government has partnered with Microsoft Corporation, for a digital upskilling programme that will benefit no fewer than five million Nigerians and as well help in the fight against graft.

The partnership anchored on connectivity, skilling and digital transformation followed discussions between both parties led by the Vice President and Microsoft President Brad Smith earlier in the year.

Speaking in a formal video announcement of the partnership, Osinbajo said the government was committed to leveraging innovation and technology to bring better outcomes across a wide area of governance concerns.
He …