BUSINESS

IMF tells Nigeria, others to end fuel subsidy

Daily Dispatch April 11, 2019

The International Monetary Fund (IMF) has advised Nigeria and other countries still subsidising fuel for domestic consumption to stop doing so. The IMF said fuel subsidy removal would help boost revenue and improve on local infrastructure development. The IMF President, Christine Lagarde said

BUSINESS

FG plans gas filling plants in all LGAs — Kachikwu

Daily Dispatch April 11, 2019

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, said on Thursday that the Federal Government was working assiduously to ensure installation of gas filling plants in each of the 774 Local Government Areas in the country. Kachikwu disclosed this in his keynote address at the commissioning of the Nigerian Army Welfare Limited Guaranty […]

BUSINESS

Senate assures AGIP of commitment to $13.5billion oil project

Daily Dispatch April 9, 2019

The Senate has assured Nigerian Agip Oil Company (NOAC) and other stakeholders of its support and commitment for the commencement of the $13.5 Billion offshore Zabazaba crude oil production project that is awaiting Final Investment Decision. Senator Adeola commended NAOC for turning out yet another set of highly skilled subsea engineers for deep sea projects […]

BUSINESS

America’s shale oil undercuts Nigeria’s Bonny Light, India to the rescue

Daily Dispatch April 8, 2019

Steady Indian and Indonesian demand has helped lift price indications for two of Nigeria’s top grades, Bonny Light and Qua Iboe crude, to near five-year highs, according to traders and shipping data. This is happening as America’s light shale oil has led to almost zero demand for Nigeria’s crude in the country. The abundance of […]

BUSINESS

Nigerians to pay N36,000 to N67, 000 for electricity metres – NERC

Daily Dispatch April 7, 2019

The Nigerian Electricity Regulatory Commission, NERC, has said going forward, Nigerians would pay between N36, 991.50 and N67, 055.85 to get electricity meters installed and maintained at their premises by approved third-party meter providers of the distribution companies (Discos). The arrangement comes under the Meter Asset Providers, MAPs, scheme, which NERC signed off

BUSINESS

NCC set to drive broadband penetration to 70%

Daily Dispatch April 7, 2019

The Nigerian Communications Commission (NCC), has expressed its preparedness to drive the process of attaining 70 per-cent broadband penetration in the next couple of years. Prof. Umar Danbatta, the Executive Vice Chairman of NCC in a statement on Sunday in Abuja, said that the commission would attain the 70 per cent if it was set as the […]