BUSINESS

Oil slumps to lowest price in a year as stock markets sink

Daily Dispatch December 20, 2018

Oil prices fell more than four per cent on Thursday, hitting their lowest in more than a year on worries about oversupply and the outlook for energy demand as a U.S. interest rate rise knocked stock markets. Equities dropped worldwide after the U.S. Federal Reserve raised rates and maintained

BUSINESS

Consumers owe electricity company over N3b in Zamfara

Daily Dispatch December 20, 2018

Engr. Sabo Abdul, the Business Development and Relationship Officer, Kaduna Electricity Distribution Company (KAEDCO) says the company is being owed over N3 billion by consumers. Abdul made the disclosure when he paid a courtesy visit to the state’s Council of the Nigeria Union of Journalists (NUJ), at the union’s secretariat in Gusau, on Thursday. He […]

BUSINESS

Nigeria’s excess crude account drops to US$631m

Daily Dispatch December 20, 2018

The amount in Nigeria’s Excess Crude Account (ECA) has declined to $631 million. Permanent Secretary, Ministry of Finance, Mr. Mahmoud Dutse, said in Abuja that withdrawals were made by the Federal Government from the ECA to settle the last tranche of the Paris Club Refund. According to him, when the Federation Account Allocation Committee (FAAC) […]

BUSINESS

TraderMoni initiative to boost petty trading – Osinbajo

Daily Dispatch December 20, 2018

The Vice President, Prof. Yemi Osinbajo, says the TraderMoni initiative under the Social Investment Programme was to uplift and boost the businesses of petty traders across the country. The initiative personally conceived by President Muhammadu Buhari, is a micro-loan scheme under the Government Enterprise and Empowerment Programme (GEEP), it provides capital for artisans,

BUSINESS

Nigeria’s first gold refinery plans to triple capacity in five years

Daily Dispatch December 19, 2018

Nigeria’s first gold refinery is expected to more than triple its capacity within five years after operations begin next June, an executive at the company developing it said on Tuesday. Nere Teriba, vice chairman of local firm Kian Smith Trade & Co, said the refinery would initially be able to produce three tonnes per month […]

BUSINESS

NNPC subsidiary hits N1.8bn profit in 2017, says MD

Daily Dispatch December 19, 2018

Mr. Adeyemi Adetunji, Managing Director, Nigerian National Petroleum Corporation Retail said the company made N1.8 billion profit after tax in 2017. Adetunji disclosed this in Abuja at the 1st Triennial Delegate Conference of the PENGASSAN, Nigerian National Petroleum Corporation Retail branch. NNPC Retail is a subsidiary of the NNPC. He said that the total profit […]