BUSINESS NEWS

TCN to build 3 new power transmission stations in Kaduna

Daily Dispatch June 1, 2017

The Transmission Company of Nigeria (TCN) says it will establish three additional sub-stations in Kaduna to boost power transmission in the state. Abdullahi Suleiman, General Manager, Kaduna Regional Transmission Station,  made the  disclosure in an interview with the News Agency of Nigeria

BUSINESS

Indonesia to buy more crude oil from Nigeria-NNPC

Daily Dispatch May 31, 2017

The Nigerian National Petroleum Corporation (NNPC) said Indonesia has indicated its interest in increasing its purchase of crude oil from Nigeria. The NNPC in a statement signed by Mr Ndu Ughamadu, NNPC Group General Manager, Group Public Affairs division in Abuja on Tuesday disclosed that Indonesia currently purchases about 90,000 barrels of crude oil per […]

BUSINESS

CBN lifts Naira with $482.6m

Daily Dispatch May 30, 2017

The Central Bank of Nigeria on Tuesday intervened in the inter-bank market to the tune of $482.6m in the first trading day after the Democracy Day celebrations. A statement issued by its Acting Director, Corporate Communications, Mr Isaac Okorafor in Abuja said that this was part of measures to underline its determination to guard the […]

BUSINESS

Federal government threatens to shut all land borders over increase in smuggled rice

Daily Dispatch May 29, 2017

The administration of President Muhammadu Buhari has threatened to shut some land borders if the smuggling of rice continues from neighbouring countries. The threat came from the minister of Agriculture and Rural Development, Audu Ogbeh, who spoke on Monday in Abuja on the achievements of the administration in the last two years. The News Agency […]

BUSINESS

FG begins payment of agro-dealer’s N12.5bn claims

Daily Dispatch May 26, 2017

The Federal Government says it has commenced payment of agro-dealers and suppliers Growth Enhancement Scheme (GES) claims for the 2014/2015 farming season. Mr Ohiare Jatto, Director, Farm Input Support Services Department, Federal Ministry of Agriculture and Rural Development, told the News Agency of Nigeria (NAN) in Abuja on Friday, that N12.5 billion was approved for

BUSINESS

Nigeria Not Oppose To OPEC Production Caps….but we have to wait-Kachikwu

Daily Dispatch May 25, 2017

Nigeria is not opposed to joining OPEC production caps but will have to wait and see production back to acceptable levels. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said on Thursday that “we are targeting that by the end of the extension period (nine months) we are trying to prep and finalise […]