6 against 1 vote at MPC meeting leaves all rates unchanged
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) ended its two-day meeting in Abuja on Tuesday, retaining all exiting rates in line with several analysts’ predictions. In his remarks at the end of the meeting, the…
Power hits 7001MW, all time high, but evacuations remain poor
The irony of Nigeria’s power crisis stemmed from the veiled truth that Africa’s largest economy now has the capacity to produce more power than it can distribute. This is based on the fact that since September 12 this year (2017),…
Why NPDC is targeting 500,000 bpd By 2020
Fresh insights have emerged on the readiness of the Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), to grow its equity production from the current 180,000 barrels per day to 300,000 bpd by 2018….
Microsoft gives fresh lead to why it diverted $30bn data centre to S’Africa
Additional ‘veiled’ reason on why Microsoft Corp. suddenly diverted its publicized $30 billion investments in new data centre from Nigeria to South Africa may have been revealed based on the company’s position during a one-day government conference on digital transformation…
Imo, Lagos, 5 others borrowed more than 50% of their annual statutory—FRC
Against the provisions of the guidelines of the Debt Management Office (DMO) on sub-national borrowing, 23 states lead by Imo and Lagos states, have borrowed more than 50 per cent of their annual statutory allocations by 2015. This was revealed…
Turkish envoy visits Customs CG, agrees to ambush arms importers
Barely one week after giving the hint during the display of 470 Pump Action riffles seized at Tincan island Port in Lagos, the Comptroller-General of Customs, Col. Hameed Ali (Rtd) on Tuesday met with the Turkish Ambassador to Nigeria, Mr….
Twist as Oyeyemi, Kazeem skip real cause of driving licence delay
Nigerians eager to process their driving licence within record time may wait for long as there seems to be no clear headway on resolving the problem of long wait for collection of processed licences. Contrary to ease of doing business…
How healthy competition forced Arik Air to slash fares
Healthy competition amongst local airlines and those plying Accra route in Nigeria has compelled the debt embattled management of Arik Air to reduce flight fares for its Lagos-Abuja routes and Nigeria-Accra. The Assets Management Company of Nigeria (AMCON) took over…
Why CBN, Aviation Ministry talks to crash interest rate to 9% can’t work
Indications that the federal government may have not been well prepared, or studied the terrain before unveiling plans to concession four major airports, have emerged. This is based on the fact that top officials of the Federal Ministry of Aviation…
Fear of uprising over winners in marginal field bid round delaying scheme
Key reason on why there is palpable uncertainty over the timeframe for the country’s next marginal field bid round, has been unveiled. Findings by Business Hilights showed that the interested top government officials and officials of the Department of Petroleum…
