BUSINESS

NNPC: We ‘ve only spent $1.2b on Brass LNG project

Daily Dispatch April 17, 2019

Contrary to speculation that the Brass LNG has gulped $22 billion, the Nigerian National Petroleum Corporation (NNPC) has confirmed that the actual historical amount spent on the project from inception till date was about $1.2 billion against the alleged figure, a press release by NNPC Group

BUSINESS

Jaiz Bank secures N3 billion from BOI to finance MSMEs

Daily Dispatch April 16, 2019

Good times are underway for Micro, Small and Medium Enterprises (MSMEs) in the country as Jaiz Bank Plc, the premier non-interest bank has secured an N3 billion financing facility from the Bank of Industry (BOI) to boost and develop their operations. The Managing Director of the bank, Hassan Usman, who made the disclosure in Abuja […]

BUSINESS

Oil slips to $71, hit by talk of higher OPEC+ production

Daily Dispatch April 16, 2019

Brent oil slipped to around 71 dollars a barrel on Tuesday, pressured by expectations of higher U.S. inventories and concern about Russia’s willingness to stick with OPEC-led supply cuts. Analysts on average expect U.S. crude stockpiles to have risen by 1.9 million barrels last week, the fourth straight increase. The first of this week’s stockpile […]

BUSINESS

Inflation drops by 0.06 % in March – NBS

Daily Dispatch April 16, 2019

The National Bureau of Statistics (NBS) said the country’s inflation measured by Consumer Price Index (CPI) in March was 0.06 per cent points lower than the rate recorded in February. The NBS said this in its “CPI and Inflation Report’’ released on Tuesday in Abuja. The bureau said the CPI which measures inflation decreased to […]

BUSINESS

NCP grants three companies to bid for the acquisition of Afam Electricity Generation Company

Daily Dispatch April 15, 2019

The National Council on Privatisation (NCP) has granted approval to Diamond Stripes Consortium, Transcorp Power Consortium and Unicorn Consortium to proceed to the financial bids opening stage for the acquisition of 100 percent shares in the Afam Electricity Generation Company (Afam Power Plc & Afam Three Fast Power Limited). Rising from its first Meeting for […]

BUSINESS

FG’s N42bn SEZ plans being misrepresented – Presidency saddened

Daily Dispatch April 15, 2019

The presidency has expressed concern  that plans of the President Muhammadu Buhari administration to fast-track Nigeria’s industrial development through the Special Economic Zones (SEZ) was being misrepresented in the public, including at a recent public hearing in the Senate. The presidency, in a document made available to the News Agency of Nigeria (NAN) on Monday […]