BUSINESS

AfDB invests $32m in climate fund

Daily Dispatch January 16, 2019

The African Development Bank (AfDB) has apprived $32.5 million equity investment in Climate Investor One’s Construction Equity Fund (CEF). The amount was approved by the Board of Directors of AfDB for the CEF which is a platform that uses a unique blended finance approach, and targets the

BUSINESS

Nigeria earns $640.35m from Crude export in Oct – NNPC

Daily Dispatch January 16, 2019

The Nigerian National Petroleum Corporation (NNPC) says the country earned 640.35 million dollars from the export of crude oil and gas for the month of October, 2018. The corporation disclosed this in its monthly Financial and Operation report for October 2018, released in Abuja. It said that the total export receipt of 640.35 million dollars […]

BUSINESS

Otedola moves to acquire Forte Oil upstream, power firm

Daily Dispatch January 16, 2019

The majority shareholder of Forte Oil Plc, Mr Femi Otedola, is planning to buy out the company’s upstream services and power distribution firm to be ratified by the shareholders on February 7. Mr Akinleye Olagbende, the firm’s Company Secretary, disclosed this in a letter to the Nigerian Stock Exchange on Wednesday. Olagbende said the move […]

BUSINESS

NBS: Nigeria’s Inflation rate increases in December 2018

Daily Dispatch January 16, 2019

The National Bureau of Statistics, says the Consumer Price Index which measured inflation increased to 11.44 per cent (year-on-year) in December 2018 from 11.28 per cent recorded in November 2018. The NBS disclosed this in its “CPI and Inflation Report’’ for December released in Abuja on Wednesday on its website. The bureau said the figure […]

BUSINESS

PEF to track petrol consumption

Daily Dispatch January 16, 2019

The Petroleum Equalisation Fund (PEF) says its Sensor Monitoring Project will help to track the quantity of Premium Motor Spirit (PMS) also known as fuel consumed in the country. The PEF Executive Secretary Alhaji Ahmed Bobboi disclosed this while addressing newsmen on Tuesday in Abuja. He said that the adoption of the monitoring mechanism was […]

BUSINESS

Aceess Bank gets CBN, SEC’s approval to acquire Diamond Bank

Daily Dispatch January 15, 2019

Access Bank and Diamond Bank Plc have obtained approval in principle from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) on proposed merger plans. Mr Victor Etuokwu, Access Bank Executive Director, Personal Banking, said in Lagos that CBN and SEC had granted both banks approval in principle for the merger […]