BUSINESS

NNPC Records $120.49m Crude Oil Receipt In September

Daily Dispatch January 17, 2021

The Nigerian National Petroleum Corporation (NNPC) has announced a total export receipt for crude oil and gas valued at $120.49 million for the month of September 2020. A press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru, stated

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Heirs Holdings significantly expands oil and gas portfolio, acquires stakes in Shell, ENI, Total

Daily Dispatch January 15, 2021

Heirs Holdings (“HH”), the leading African strategic investor, in partnership with affiliated company Transnational Corporation of Nigeria Plc (“Transcorp”), Nigeria’s largest publicly listed conglomerate, announced today the unconditional acquisition of a 45% participating interest in Nigerian oil licence OML 17 and related assets, through TNOG Oil and Gas Limited (a

BUSINESS

Shell sells stake in Nigerian oil block for $533m

Daily Dispatch January 15, 2021

The Shell Petroleum Development Company of Nigeria Limited has announced the completion of the sale of its 30 per cent interest in Oil Mining Lease 17 in the Eastern Niger Delta and associated infrastructure to TNOG Oil and Gas Limited for a consideration of $533m. The oil major said in a statement on Friday that […]

BUSINESS

Nigeria Inflation Hits 15.75%, A 32-month High

Daily Dispatch January 15, 2021

Nigeria’s inflation rate has climbed to a 32-month high, as it rose further to 15.75 percent in December from 14.89% in November 2020, the latest figures by the National Bureau of Statistics (NBS) has shown. The report published on the website of the bureau shows that food inflation rose to 19.56%, while core inflation rose […]

BUSINESS

Nigerian stock market gains N325bn on enhanced buying interest

Daily Dispatch January 14, 2021

The Nigerian stock market extended its positive rally on Thursday, appreciating further by N325 billion, amid increased buying interest. Specifically, the market capitalisation inched higher by N325 billion or 1.54 per cent to close at N21.418 trillion from N21.093 trillion on Wednesday. In the same vein, the All-Share Index garnered 622.09 points or 1.54 per […]

BUSINESS

NBS: Nigeria’s public debt hits N32.22tr in Q3

Daily Dispatch January 14, 2021

The National Bureau of Statistics (NBS) has said as at Third Quarter (Q3) 2020, Nigeria’s total debt stood at N32.22 trillion. The NBS In a report titled: “Nigerian Domestic and Foreign Debt – Q3 2020,” explained that further disaggregation of Nigeria’s foreign debt showed that $16.74billion of the debt was multilateral; $502.38 million was bilateral […]