U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.
Brent crude, the international benchmark, also slumped, but that contract was...
In a bid encourage investments in the healthcare and pharmaceutical sectors, Nigerian Investment Promotion Commission (NIPC) has advised that several activities in these sectors qualify for the 3-5 year company income tax holiday that it administers under the Pioneer Status Incentive (PSI) Scheme.
The activities qualifying include: Manufacture of pharmaceuticals...
The African Development Bank Group has announced the debarment of China Zhonghao Nigeria Limited, a civil engineering company registered in Nigeria, for 18 months, for fraudulent practices.
An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that China Zhonghao Nigeria Limited, as a member of a joint...
The final performance result in revenue collection by the Federal Inland Revenue Service (FIRS) for the first quarter(Q1, 2020) has been released, which revealed that the Service posted a new collection record of 15% increase for the quarter under review compared to the Q1,2019
The 15% increase in Q1, 2020...
The Transmission Company of Nigeria (TCN) has said the ongoing lockdown may affect revenue generation for the power sector during the lockdown period.
The Managing Director of TCN, Mr Usman Gur Mohammed who disclosed this in an interview yesterday also dismissed claims that the federal government was providing free electricity...
The Minister of Power Engr. Sale Mamman says the Rural Electrification Agency (REA) has commissioned four solar power mini-grids at four Coronavirus, COVID-19 Isolation Centres and Laboratory in Abuja, Lagos and Ogun States.
The minister in a statement by his Special Adviser, Media and Communications, Aaron Artimas today said the...
The Federal Government of Nigeria has reduced the price of NPK 20.10.10. Fertilizer from N5,500 to N5,000 per 50kg bag.
This was announced by the Chairman, Presidential Fertilizer Initiative, Governor Muhammad Abubakar Badaru while briefing newsmen in Dutse.
He explained that, the effort was part of the palliative measures introduced by...
The Federal Government today approved the sum of N200 billion for improved gas supply to the power Generation Companies (GenCos), so as to boost electricity supply to Nigerians during the Coronavirus pandemic lockdown.
Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari disclosed this after...
The Securities and Exchange Commission (SEC), has denied conducting any recruitment exercise as being speculated by some persons.
The Commission in a statement Monday, Said “Securities and Exchange Commission’s (the Commission) attention has been drawn to some messages and a video being circulated in the social media, wherein the Commission...
The Central Bank of Nigeria (CBN) yesterday clarified that it does not charge any fee on COVID-19 Loan Applications as being speculated.
CBN said, the clarification was necessary because of the false reports in the social media circles that loan seekers and owners of small-scale businesses who apply for loans...
