US oil giants ExxonMobil and Chevron reported another quarter of red ink Friday as uncertainty over oil demand dented by the coronavirus forced the petroleum sector to rein in spending. While both companies were hit by low commodity prices, driven the worldwide business and travel shutdowns, ExxonMobil had the bigger loss and again faced tough questions … Read more
CBN The October Purchasing Managers’ Index for the manufacturing sector stood at 49.4 index points, indicating a reversal of five consecutive months of contraction which started in May. This is according to the result of PMI survey released by the Statistics Department of Central Bank of Nigeria (CBN) on Tuesday. The News Agency of Nigeria … Read more
•Customs Agents petition Presidency By Godfrey Bivbere There is an indication that the five faulty scanners at the Apapa ports have been abandoned as the Federal Government rejects proposal to repair them at a cost of N753 million. This development, Vanguard Maritime Report learnt, comes at the backdrop of the move by the government to … Read more
By Rosemary Iwunze Coronation Insurance Plc, formerly Wapic Insurance, has reassured its clients and the general public that are victims of the EndSARS protests of its commitment to return them to their normal ways of life. To this end, Coronation Insurance said it had put in place a claims response platform for real-time communication and … Read more
By Gabriel Ewepu Mining professionals, under the aegis of Miners’ Association of Nigeria, MAN, have called on the Federal Government to carry them along in the planned resuscitation of Ajaokuta Steel Company Limited, ASCL. This proposition is coming against the backdrop of the agreement reached between the Federal Government and the Russian government to commence … Read more
The government of Cameroon has condemned the killing of children at a school in Kumba, South West Reegion, on Saturday, October 24 by unidentified gunmen. At least seven children were killed and over a dozen others injured when gunmen stormed the Mother Francisca International Bilingual Primary and Secondary School in Kumba prompting widespread condemnation. Below … Read more
Optimistic on meeting 2021 target By Ediri Ejoh Barely one year to its 2021 target, Sefton Fross, a Lagos-based energy law firm, has urged the Nigerian Electricity Regulatory Commission, NERC, to tackle the various problems currently affecting metering in the nation. In the report – Meter Asset Provider Regulation: Taking stock two years after – … Read more
EndSars Protesters at the CBN Headquarters, Abuja, last Sunday. PHOTO: Abayomi Adeshida. …Assets replacement cost in Lagos put at N1trn …Results will manifest in GDP—Prof Uwaleke …N1trn lost to firms – Investment banker …Jobs losses, poverty to escalate — Analyst By Peter Egwuatu, Olasunkanmi Akoni, Nkiruka Nnorom, Ediri Ejoh At the backdrop of the destructions … Read more
Stockmarket Marginally up 0.22% in 12 days Nigeria’s stock market has remained resilient despite the protests across the country against Police brutality and the excesses of the Special Anti-Robbery Squad (SARS) which degenerated to civil unrest. Though market watchers had expected that the unrest would create fear and uncertainty among investors who might be concerned … Read more
…hike in fuel, kerosene, diesel prices imminent By Michael Eboh The Federal Government is proposing the addition of the costs of managing the national strategic stocks of petroleum products to the retail price of the commodities. The proposal, which is included in the 2020 Petroleum Industry Bill, PIB, currently before the National Assembly, might lead … Read more
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