FINANCING

The Securities and Exchange Commission has expressed its readiness to partner with the Nigerian Agricultural Insurance Corporation in a bid to further deepen the commodities trading ecosystem. Director General of the SEC, Mr. Lamido Yuguda,who stated this during a meeting with the Management of NAIC in Abuja,weekend,expressed SEC’s commitment to develop the commodities ecosystem as a potent way forward in ...

The Federal Government has received about $5.28billion as dividends from the Nigeria Liquefied Natural Gas Limited under the regime of the President, Major General Muhammadu Buhari (retd.).The latest data contained in the Facts and Figures 2022 report of the NLNG, obtained in Abuja on Sunday, showed that aside from dividend payments to the Federal Government, the gas company also remitted ...

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will sanction fuel stations that reject the use of Point of Sale (POS) machines or bank transfers at their outlets.This is contained in a statement by Mr Kimchi Apollo, General Manager, Corporate Communications and Stakeholders Management, NMDPRA, on Thursday in Abuja.The statement frowned at the act by the retail ...

The management of Techno Oil Ltd. has directed its outlets nationwide to make fuel sales to motorists round the clock, to mitigate the hardships facing Nigerians currently. The Chief Executive Officer of the company, Mr Tony Onyeama, made the announcement on Monday in Lagos while speaking on the efforts of the company to end the current crippling fuel scarcity. Nigerians ...

Ardova Plc, one of the leading downstream marketing company has grown it revenue from N201.44 billion to N240.8 billion about 19.5 per cent year-on-year. Ardova Plc management leveraged on its station expansion to drive revenue to N240.8 billion in 2022 from N201.44 billion, primarily due to an increase in fuel by 16 per cent to N202.54 billion in 2022 from ...

Managing Director of Shell Petroleum Development Company (SPDC), Mr Osagie Okunbor, says his company’s will work with Niger Delta Development Commission (NDDC) to reconcile its statutory financial contributions to the commission. This is contained in a statement issued by NDDC Spokesman, Dr Abosede Ibitoye, in Port Harcourt on Sunday. Ibitoye quoted Okunbor as stating this when he received a delegation ...

Oil giant Shell PLC has recorded a cash flow of $68 billion with its highest ever full year results of adjusted earnings hitting $40 billion in 2022 financial year. According to the 2022 financial report jointly delivered by the Chief Executive Officer, Wael Sawan and the Chief Financial Officer, Sinead Gorman on Thursday, Gorman said the company recorded strong quarterly ...

Chevron Corp has posted a record $36.5 billion profit for 2022 that was more than double year-earlier earnings, but the bottom line fell shy of Wall Street estimates, undercut by asset write-downs and rising costs. The second largest U.S. oil producer’s adjusted net profit for 2022 exceeded its previous record set in 2011 by about $10 billion. Still, higher expenses ...

The Breakdown showing that N6 trillion will be on fuel subsidy for six months, N4 trillion to subsidise the naira and N300 billion to subsidise electricity in 2023. The Kaduna State Governor, Nasir El-Rufai, who was lamenting over the non remittance of money to the federation account by the Nigerian National Petroleum Company Limited (NNPCL) said that this year, the ...

The Central Bank of Nigeria (CBN) has pegged total direct remittances for 2022 at $2.16 billion, a decline of 11.18 per cent from the previous year. The apex bank in its “International payment” data disclosed that the country recorded $2.43billion in total direct remittances in 2021, amounting to 11.18 per cent decline when compared to 2022 remittances. A breakdown showed ...