Page 2 - Femi Asu News Today

Punch Newspapers Sections ’Femi Asu Published 5:21 am BUA Group and Axens of France have signed a progress acknowledgement statement for BUA’s proposed 200,000-barrels-per-day refinery in Akwa Ibom State. BUA said in a statement on Wednesday that the French President, Emmanuel Macron, commended its Chairman, Abdul Rabiu, for his commitment to developing lasting relationships between French and Nigerian businesses. It said the French Minister for Foreign Trade and Economic Attractiveness, F...

Rising debt: DMO blames COVID-19, experts say borrowing from CBN dangerous Everest Amaefule, Nike Popoola, Femi Asu, Okechukwu Nnodim and Temiloluwa O’Peters Published 3:47 am Everest Amaefule, Nike Popoola, Femi Asu, Okechukwu Nnodim and Temiloluwa O’Peters Published 3:47 am Nigeria’s debt profile has been on the increase because of the impact of revenue crash and the crises trailing the coronavirus pandemic on the economy, the Debt Management Office has said. However, some economists ...

Punch Newspapers Sections ’Femi Asu Published 4:19 am Farmers in Ogun State are eagerly awaiting the commencement of operations of the Dangote fertiliser plant, which is expected to roll out its first bag anytime from now, Dangote Industries Limited said on Sunday. The company said in a statement that the farmers indicated their interest in the fertiliser during an interaction with the Dangote Fertiliser team at the 10th Gateway International Trade Fair in Abeokuta. The Secretary of All Farm...

Shell’s yearly payment to Nigerian govt hits six-year low ’Femi Asu Published 12:12 am  The payment made to the Federal Government by Shell companies in Nigeria plunged by 42.45 per cent in 2020 to the lowest in six years. Royal Dutch Shell said on Wednesday that its subsidiaries in Nigeria paid $3.24bn to the Nigerian government and its agencies last year, compared to $5.63bn in 2019 and $6.39bn in 2018. The oil giant’s payment to the Nigerian government was $4.32bn in 2017, compared t...

Africa’s tourism sectors among slowest to recover – Report The Punch The tourism sectors in Africa will be among the slowest to recover from the coronavirus crisis, inflicting further economic pain in economies most dependent on the industry. Capital Economics, a London-based economic research company, noted in a new report that tourism sectors in the region, like elsewhere in the world, had been hit particularly hard by the coronavirus crisis. “Even as Sub-Saharan Africa ...

Punch Newspapers Sections ’Femi Asu Published 4 April 2021 Power generation companies were not paid 59.17 per cent of the invoice issued last year for the electricity produced and fed into the national grid. The government-owned Nigerian Bulk Electricity Trading Plc buys electricity in bulk from generation companies through Power Purchase Agreements and sells through vesting contracts to the Discos, which then supply it to the consumers. NBET received a total invoice of 1N739.68bn from the G...

’Femi Asu and Okechukwu Nnodim with agency report The international oil benchmark, Brent crude, dropped on Monday after climbing above the $70 per...

’Femi Asu with agency reportGhana is preparing to become first Liquefied Natural Gas importer in sub-Saharan Africa, with the terminal at the p...

Punch Newspapers Sections ’Femi Asu and  Okechukwu Nnodim Nigeria may have earned over N318bn additionally in February as a result of the increase in crude oil price in the past one month. At the virtual presentation of the 2021 Federal Government approved budget in January, the Minister of Finance, Budget and National Planning, Zainab Ahmed, had stated that Nigeria’s benchmark for crude oil price was retained at $40/barrel. Since February this year, Brent, the oil against which Nigeria�...

’Femi Asu and Okechukwu Nnodim Over three million Nigerians have lost about N18bn through Ponzi schemes, the Securities and Exchange Commission st...