BUSINESS

NNPC records N18.12bn trading surplus in May

Daily Dispatch October 1, 2018

The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of N18.12bn for May 2018, a performance which is relatively higher than the trading surplus of N17.16bn recorded in April. Details of the transactions contained in the recently released May 2018 edition of the

BUSINESS

Money launderers turn EU banks into playground

Daily Dispatch September 30, 2018

European Union nations may boast the world’s most stringent anti-money laundering rules, but recent scandals show that money launderers are good at exploiting the bloc’s Achilles’ heel: A patent lack of coordination. “There are problems relating to coordination at various levels: at the national level, between prudential and anti-money laundering institutions, and between

BUSINESS

Shell re-weight its footprint in Nigeria, to focus on oil and gas

Daily Dispatch September 30, 2018

Shell wants to re-weight its footprint in Nigeria to focus on oil and gas fields far offshore, away from the theft, spills, corruption and unrest that have plagued the West African country’s onshore industry for decades. Two pipeline spills in 2008 in the small community of Bodo in Ogoniland are emblematic of the problems in […]

BUSINESS

12 firms bids for Afam Power, 7 YEDC- BPE

Daily Dispatch September 28, 2018

The Bureau of Public Enterprises (BPE) wishes to clarify that contrary to our earlier Press Statement,12 firms submitted bids for Afam Power Company and seven (7) for the Yola Electricity Distribution Company (YEDC) at the close of the submission of bids for the Expression of Interest (EOIs) for the acquisition of the two power companies. […]

BUSINESS

Oil price soar to four year high

Daily Dispatch September 26, 2018

Oil prices have hit a four-year high of over $81 a barrel after Saudi Arabia and Russia rejected calls by American President Donald Trump to increase production, BBC World Service reported Monday. The Nigerian economy is largely dependent on oil and this may be good news for Africa’s largest economy trying to stabilise after a […]

BUSINESS

AfDB seeks partnerships to lift 1bn people out of hunger

Daily Dispatch September 26, 2018

The African Development Bank (AfDB) has called on global partners to join hands to lift one billion people worldwide out of hunger and said it was leading the way by investing US$24 billion in African agriculture over the next 10 years. “We are not winning the war against global hunger,” Bank President Akinwumi Adesina told […]