The Joint Ministerial Monitoring Committee (JMMC) of the Organisation of Petroleum Exporting Countries (OPEC) has commended the progress made by Nigeria to conform with the agreement on Crude oil production cut.
The group gave the commendation at the 26th Meeting of the JMMC held via video conference on Wednesday.
Read Also: Dangote Refinery, Others Threaten Existing Plants – OPEC
It urged its members to remain optimistic about decisions that would drive the recovery of the global oil market.
‘Since the April 2020 Ministerial Meeting, OPEC and non-OPEC countries have adjusted oil production down by a cumulative 2.1 billion …
Amazon CEO, Jeff Bezos will step down in the third quarter of 2021. Top executive Andy Jassy has been confirmed the successor.
Bezos, founder of Amazon in 1994, is transmuting to the board chairman.
Read Also: Elon Musk Overtakes Jeff Bezos, Now World’s Wealthiest Person
Jassy joined Amazon in 1997. He has led the Web Services cloud team since its inception. AWS drives much of Amazon’s profit.
…‘I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO,’ Bezos said in a letter to employees.
‘Andy is well known
The Nigeria Customs Service (NCS) has given reasons why it has been difficult for its officers to completely stop the smuggling of rice into the country from the borders.
NCS spokesman, Mr. Joseph Attah, gave the explanations while speaking to Newsmen following complaints by the Rice Processors Association of Nigeria that the country had been flooded with smuggled rice.
While agreeing that Customs cannot claim to we have been able to completely wipe out smuggling of rice and any other prohibited items, Attah noted that as long as there are human beings ready to cut corners; that are driven by …
Car manufacturing giant Toyota sold more vehicles in 2020 than any other car company, edging ahead of Volkswagen Group in a year dominated by the Corona Virus pandemic.
Toyota was the world’s best-selling carmaker in 2020, taking back the title from Volkswagen Group in a year hit by the coronavirus crisis.
The Japanese auto giant reclaimed the crown thanks to a sales decline that was less severe than its arch-rival during the global pandemic.
Toyota sales were down 11 percent in 2020, to 9.53 million vehicles.
Volkswagen Group deliveries fell 15 …
MultiChoice Nigeria has announced a price slash on its DStv and GOtv decoders effective from Monday, February 1, 2021.
The price slash will see the DStv HD decoder, dish kit with Compact package subscription drop from ₦18,600 to ₦9,900 on Confam package, while GOtv decoder, GOtennae with GOtv Jolli package subscription will go from ₦8,400 to N6,900.
Speaking at a virtual media briefing on Friday, Chief Customer Officer, MultiChoice Nigeria, Martin Mabutho, explained the price slash is part of MultiChoice’s long line of efforts to lessen the economic impact of COVID on customers and a reflection of its commitment to …
The total shutdown of the Third Mainland Bridge would be lifted at midnight of Jan. 31, 24 hours ahead of schedule this is according to the Federal Controller of Works, Lagos, Mr. Olukayode Popoola.
Popoola told reporters on the telephone that the contractor was able to complete the repair works on the bridge on Saturday, hence the lifting of the total closure at midnight.
“The casting of the expansion joints was completed on Saturday. Therefore, the Third Mainland Bridge will be opened by 12 midnight on Jan. 31.
…Read Also: FG To Shut Third Mainland Bridge For Another 72 hours
Nigerian banking Giants, Ecobank Group has recorded a revenue of over ₦630 billion for the year ended December 31, 2020.
This represents a 7% growth when compared to ₦586.9 posted in the corresponding period of 2019.
In its unaudited report submitted to the Nigeria Stock Exchange (NSE) on Friday, the pan-African bank stated that the value of its total assets now stands at N10.2 trillion after a 19% rise.
The bank also recorded superlative performance in other key financial indices despite the harsh operating environment.
Read Also: Ecobank Launches Virtual Card For Online Payments
Summary of the report showed that …
Director of Research, Nigerian Institute of International Affairs, Dr Efem Ubi, says the allegation peddled by critics that Nigeria is gradually ceding her sovereignty to China on account of excessive borrowing is untrue and cannot be substantiated.
Ubi made this assertion on Friday in Abuja in a presentation at a round table organized by the Institute for Peace and Conflict Resolution, stressing that such critics were ignorant of the issues.
The round table is entitled, ‘Nigeria-China Relations: Reflections on Equal Friendship, Equal Partners and Prosperity in Solidarity.’
Ubi said that arguments about whether Nigeria can repay the rising Chinese debts …
German consumer prices climbed in January for the first time in seven months, provisional official data showed Thursday, due to the end of a temporary VAT cut to stimulate spending in the pandemic.
Inflation moved into positive territory at the start of 2021, at 1.0 percent year-on-year, according to preliminary data from federal statistics agency Destatis. It was the highest level since March.
The figure surprised analysts polled by Factset, who had forecast a rate of 0.55 percent.
A sales tax reduction to boost consumer spending from July after the first wave of the virus contributed to lower prices in …
The Federal Controller of Works Lagos, Mr. Olukayode Popoola on Wednesday announced another three days of a total shutdown of the Third Mainland Bridge for another round of delicate expansion joints replacement.
Popoola told a correspondent on a telephone that the shutdown would take effect from midnight on Friday to midnight of Monday, Feb. 1.
He explained that construction works had reached the stage for casting concrete on additional three expansion joints, hence the need to stop all movements on the bridge that could cause vibrations.
Read Also: 4th Mainland Bridge: 800 Houses To Be Demolished In Lagos
He said …
Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, on Tuesday disclosed that the synchronized efforts by the monetary and fiscal authorities to mitigate the impact of the COVID-19 pandemic have led to the disbursement of ₦2. trillion as of January this year.
Emefiele made the disclosure at the end of the first Monetary Policy Committee meeting of this year.
He revealed that N192.64 billion has been disbursed to 426,016 beneficiaries of the COVID-19 Targeted Credit Facility (TCF) meant for household and small businesses.
‘We have also disbursed ₦106.96 billion to 27,956 beneficiaries under the Agri-Business Small and …
Buhari also approved the National Tractor Refurbishment and Recovery Programme, to cater for the repairs and repositioning of more than 55,000 tractors across the country,
He directed the NASENI to work towards bridging the gaps in research and technology that keeps Nigeria waiting on other countries for supplies and solutions,
