BUSINESS

NNPC aims for 3 mbpd with anti-theft push and presidential support

Daily Dispatch September 29, 2024

The Nigerian National Petroleum Company Limited (NNPCL) is targeting a significant increase in crude oil production, aiming to boost output from the current 1.7 million barrels per day (bpd) to three million bpd, according to the company’s Chief Corporate Communications Officer, Olufemi Soneye.

BUSINESS

CBN Raises Interest Rate By 50 Basis Points To 27.25%

Daily Dispatch September 24, 2024

The Central Bank of Nigeria (CBN) has announced another increase in its Monetary Policy Rate (MPR), raising it to 27.25%. The apex bank further increased the Cash Reserve Ratio (CRR) of commercial banks by 500 basis points from 45% to 50%. The decision was made on Tuesday during the Monetary Policy Committee (MPC) meeting chaired […]

BUSINESS

Dangote urges FG to end petrol subsidy immediately

Daily Dispatch September 24, 2024

The President of Dangote Group, Aliko Dangote, has called on the Federal Government to end the payment of subsidy on Premium Motor Spirit (PMS), otherwise known as petrol, in Nigeria. Tinubu had, on inauguration day, May 29, 2023, announced the removal of subsidy on petroleum products. “Subsidy is gone,” Tinubu declared during his inaugural address […]

BUSINESS

75th Anniversary: UBA unveils Time Capsule, Tribe Photo Wall

Daily Dispatch September 21, 2024

As part of activities to mark its 75th anniversary of delivering excellent services and driving global impact, Africa’s Global Bank, United Bank for Africa Plc, has unveiled the UBA Time Capsule as well as a Tribe Photo Wall. The UBA time capsule brings together objects or information from the past 75 years that will be […]

BUSINESS

UK Announces $5 million investment in first battery recycling facility in Nigeria

Daily Dispatch September 20, 2024

United Kingdom has announced an investment of $5 million to establish first battery recycling facility in Nigeria A press statement on Friday said the British High Commissioner visited Ogun and Lagos States, and announced a new $5m investment to establish first battery recycling facility in Nigeria The statement read: “The British High Commissioner, Dr. Richard […]

BUSINESS

NNPC Ltd Moves to Revive Brass, OK LNG Projects

Daily Dispatch September 20, 2024

In its continued bid to maximise the nation’s abundant gas resources for economic development and prosperity, NNPC Ltd has begun discussions with investors towards bringing back two Liquefied Natural Gas (LNG) projects, Brass and Olokola LNG projects. NNPC Ltd’s Chief Financial Officer (CFO), Mr. Umar Ajiya disclosed this on the sidelines of the ongoing 2024 […]