Oil and Gas Free Zones Authority Nigeria

Business

Land Import Ban: 10,000 Vehicles Trapped At Seme, Idiroko Borders

Importers and clearing agents operating at the nation’s border posts have raised the alarm that over 10,000 new and used vehicles are trapped at the Idiroko and Seme borders in the southern part of the country due to the federal government’s policy banning the importation of vehicles through the land borders. Government had last year directed that the importation of ...

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31 Million Nigerians Jobless as of September 2016 —NBS

The magnitude of employment in the Nigerian economy has not been sufficient or adequate to meet the ever-growing labor market, thus leading to continuous rise in the level of unemployment in the country, National Bureau of Statistics (NBS) has said. In the 2016 second and third quarters of job creation survey, NBS noted that unemployment and underemployment stood at 13.9 ...

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Oil And Gas Key To Nigeria’s Economic Recovery In 2017 – Moody’s

One of the world’s leading credit rating agencies, Moody’s, has said that though Nigeria’s capital markets remain a reliable and captive source of liquidity and funding for the government, the oil and gas sector would play a significant role in getting Nigeria out of recession this year. The agency predicts that the country, going by the federal government’s fiscal policies ...

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FG Begins Payment Of N5,000 Monthly Unemployment Stipend

As part of its determined efforts to touch the lives of Nigerians positively, the President Muhammadu Buhari-led administration has now started the payment of N5,000 monthly stipends to the poorest and the most vulnerable in the country through the Conditional Cash Transfer (CCT) of its Social Investment Programmes, (SIP), the presidency has divulged. A statement by the senior special assistant ...

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AG Leventis Plc: Not to Expect a Dividend

AG Leventis

By Folakemi Emem-Akpan Projections/Future outlook We predict that the 2016 financial year will not be as profitable for AG Leventis (and by extension its shareholders) as 2015 was. In 2015, it was unable to control its cost of sales and therefore turned out a loss.  It however dipped into reserves to declare a dividend. Common sense shows that it might ...

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Oil Prices Set For Biggest 1 Year Gain – OPEC

Oil prices are on track for their biggest annual gain since 2009 after the OPEC grouping and other major producers agreed to cut crude output to reduce a global supply overhang that has depressed prices for two years. U.S. benchmark West Texas Intermediate (WTI) crude futures were up at 53.83 dollars a barrel on Friday, while Brent front-month March crude ...

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CBN Sells $1bn To Help Clear Backlog In Biggest Dollar Sale

The Central Bank of Nigeria (CBN) sold about $1 billion on the forward market last week to clear a backlog of dollar obligations in selected sectors, traders said yesterday, its largest special auction since a currency peg was removed in June. Analysts said the naira would likely appreciate before the end of the year, based on the move by the ...

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GTBank Plc: Greater Feats in Store

By Folakemi Emem-Akpan Outlook The 2015 was a profitable one for Guaranty Trust Bank (GTBank) Plc, albeit a slightly less profitable one than 2014 was. Despite the economic recession, it was able to concentrate on core banking operations and turn out a decent profit, most of which it dedicated to dividend payout to shareholders. The 2016 financial year even seems ...

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MTN pays N80bn of N330bn fine — FG

mtn

The Federal Government says MTN had paid N80 billion of the N330 billion fine imposed on it for failing to deactivate more than five million unregistered SIM cards.   Speaking at the News Agency of Nigeria (NAN) Forum in Abuja, the Minister of Communications, Mr Adebayo Shittu, said that the company paid the sum for the first year. It will ...

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Telecoms Sector To Attract N799bn New Investments In 2017

With anticipated new investments to deepen broadband Infrastructure in the next few months, the Nigerian telecommunications sector which already has about $68 billion total investments so far, is set to add N799 billion (about $2.6 billion) through telecoms licences and capital investments in the year 2017. LEADERSHIP learnt that the Nigerian Communications Commission (NCC) targets N189 billion ($619.6 million) earning ...

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