Business & Finance

SWF to invest in capital market, aviation sector

Sep 15, 2013

Managing Director of the Nigerian Sovereign Investment Authority, NSIA, Mr. Uche Orji, has said that the authority was looking at investing in Monoline insurance, securities, health and aviation sectors of the economy. Speaking at the Securities and Exchange Commission, SEC, Eminent Speakers’ Series held in Abuja on Friday, he said each of the components which…

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Federal Government inaugurates subsidy payment committee

Sep 15, 2013

The Federal Government has constituted a seven-member Pan-industry Committee to explore ways of resolving the lingering dispute between the Ministry of Finance and petroleum products marketing and trading companies over delays in payment of subsidy reimbursements. The Committee which represents different players in the downstream petroleum industry, is to be chaired by the Executive-Secretary of…

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Trade Minister inaugurates oil, gas forum committee

Sep 15, 2013

Minister of State for Industry, Trade and Investment , Dr Samuel Ortom has inaugurated the technical committee for the 2013 oil and gas trade and investment forum billed for October at the Onne Oil and Gas Free Trade Zone. The minister disclosed that the Federal Government is committed to the principles of the free trade…

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$10bn investments opportunities exist in oil, gas sector yearly – GM Brass LNG

Sep 15, 2013

Over $10 billion worth of investments opportunities exist for young professionals in the midstream Nigeria’s oil and gas sector, the General Manager, Public Affairs, Brass Liquefied Natural Gas, BLNG, Lawrence Cobham, has said. Speaking during the first Oil and Gas Retreat in Lagos with the theme: ‘Opportunities for Indigenous Youth Entrepreneur in the Oil Sector,’…

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OPEC daily basket price stood at $109.40/b on Wednesday 11th September 2013

Sep 12, 2013

The price of OPEC basket of twelve crudes stood at 109.40 dollars a barrel on Wednesday, compared with $109.26 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra…

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Oil price: Brent steady after two-day fall

Sep 12, 2013

Brent crude futures held steady above $111 per barrel on Wednesday, after falling more than four per cent  in the past two days as fears eased of an imminent strike against Syria, www.upstreamonline reported. The United States President Barack Obama vowed on Tuesday to explore an initiative from Russia to neutralise Syria’s chemical weapons, but…

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OPEC daily basket price stood at $109.26/b on Tuesday 10th September 2013

Sep 11, 2013

The price of OPEC basket of twelve crudes stood at 109.26 dollars a barrel on Tuesday, compared with $111.39 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra…

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New revenue sharing formula ready soon – RMAFC

Sep 10, 2013

The Chairman, Revenue Mobilisation Allocation and Fiscal Commission, Mr. Elias Mbam, on Monday assured Nigerians that a new revenue sharing formula among the three tiers of government would be ready before the end of the year. He said this while addressing journalists in Minna, Niger State, shortly after meeting with stakeholders in the state as…

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Sanusi justifies diversification of Nigeria’s reserves

Sep 10, 2013

The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, Monday justified the central bank’s decision to diversify the country’s reserve base from the United States dollar by investing in China’s Renminbi, saying the move had paid-off two years after. He said Renminbi, also known as Yuan had since been appreciating in…

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