Oil and Gas Free Zones Authority Nigeria

Business

Oil Prices Rebound from Steep Fall

Light, sweet crude for September delivery settled up $1.32, or 3.3%, at $40.83 Oil prices made their biggest gains in three weeks Wednesday with help from a surprisingly large draw on gasoline stocks and a bear-market rebound.   Oil plunged into a bear market this week, but the low prices have lured in bargain-buyers and convinced some bearish traders to ...

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ARM’s “Nigeria Strategy Report H2 2016” New Threats Slowing Progress

Key Developments in Domestic Economic and Policy Environment Barely a year into the enthusiastic change of baton at Nigeria’s political helm, developments on the socio-political front continue to emit muted signals to warrant initial optimism. Starting with the submission of a budget document laced with summation errors which delayed its passage to fresh insecurity challenges and uncelebrated currency policies, the ...

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WHY LAGOS IS FIRST PORT OF CALL TO INVESTMENT CAPITAL

Dangote Refinery

“The Dangote Refinery is one of the biggest in Africa today and will have a huge impact not only on the economy of Lagos as a megacity but also on the whole of West African region.”  Governor Akinwumi Ambode of Lagos State stated this while receiving the Togolese President, Mr Faure Gnassingbe who came on an facility tour of the ...

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Access Bank, Lafarge partner to bridge gender gap in Manufacturing Sector

Access-bank

Access Bank’s ‘W Initiative’, in collaboration with Lafarge Africa Plc, recently organised a workshop with some of Nigeria’s leading women professionals in manufacturing to discuss gender disparity in the manufacturing sector. The workshop, which was attended by a large number of women executives and senior managers in the manufacturing sector, according to its organisers, demonstrated the conviction that women in manufacturing ...

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Nestle Nigeria reports HY pre-tax profit of 896.4 mln naira

Nestle Nigeria

HY profit before tax of 896.4 million naira compared to 10.61 billion naira a year ago HY revenue of 80.44 billion naira compared to 65.92 billion naira a year ago Nestle Nigeria Plc has released its Unaudited Financial Statements for the period ended 30th June 2016 through the Nigerian Stock Exchange (NSE) with a profit of N535.8 million, a 94 percent drop ...

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Nigeria to Experience Zero Fuel Scarcity When Dangote Refinery Comes On-stream

Dangote and Ambode

Lagos State Governor, Mr. Akinwunmi Ambode, on Tuesday said the refinery project being developed at the Lekki Free Trade Zone (LFTZ) by President of Dangote Group, Alhaji Aliko Dangote, would address the perennial fuel scarcity problem in Nigeria and West Africa. Ambode, who spoke during an inspection tour of the refinery by the Togolese President, Mr. Faure Gnassingbe, expressed optimism ...

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CBN to Enforce Dollar Sale to BDCs in a Bid to Strengthen Naira

To increase the volume of dollar in the market and stabilise the naira, the Central Bank of Nigeria (CBN) is set to compel banks to sell foreign currency proceeds of international money transfers to Bureaux De Change (BDCs). In a July 22 circular to the banks, titled:  “Sales of foreign currency proceeds of international money transfers to BDCs”, signed by ...

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