AGS NEWS – The Nigerian National Petroleum Company Limited (NNPC) has begun shipping Liquefied Natural Gas (LNG) to Japan and China on a Delivered Ex-Ship (DES) basis. This move aligns with NNPC’s goal of becoming a leading global energy supplier, … Continue reading NNPC begins natural gas export to Japan, China
AGS NEWS – The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, has highlighted the reasons behind the persistent fuel queues at filling stations across the country. Speaking at the 2024 PENGASSAN Energy … Continue reading Why fuel queues persist – PENGASSAN
AGS NEWS – Nigeria’s electricity distribution companies (Discos) generated approximately N3.95 trillion in revenue from 2019 to the first quarter of 2024, according to data from the National Bureau of Statistics. The revenue has shown a steady increase over the … Continue reading Discos generate N3.95tn in five years
AGS NEWS – The African Export-Import Bank (Afreximbank) has announced that it facilitated $650 million for Oando’s acquisition of a 100% stake in the Nigerian Agip Oil Company Ltd. In a statement released on Friday, the bank disclosed that it … Continue reading Afreximbank facilitates $650m for Oando’s acquisition of NOAC
AGS NEWS – The Ogun State Government has begun disbursing N500 million in soft loans to artisans and traders across the state. Governor Dapo Abiodun, who had previously announced the initiative, stated that the loan program, called “Oko’wo Irinse Dapo,” … Continue reading Ogun begins disbursement of N500m loan to artisans, traders
AGS NEWS – The Nigerian stock market recorded a total domestic transaction value of N2.5 trillion in the first half of the year, according to the Nigerian Exchange Limited’s latest report. This highlights the growing dominance of local investors, who … Continue reading Local investors drive N2.5tn transactions in Nigerian stock market– Report
AGS NEWS – Oando PLC has completed the acquisition of 100% shares of Nigerian Agip Oil Company Limited (NAOC Ltd), marking a significant milestone for the company. Oando announced the completion of the deal with Eni in a statement on … Continue reading Oando acquires Nigerian Agip oil company
AGS NEWS – The European Commission announced plans on Tuesday to impose a nine-percent tariff on Tesla’s electric vehicles made in China. This rate is much lower than the tariffs facing Chinese manufacturers, unless Beijing makes concessions in an ongoing … Continue reading EU slaps 9% tariff on Tesla’s China-made electric cars
AGS NEWS – The Nigerian National Petroleum Company Limited (NNPC Ltd.) has declared a N3.3 trillion profit for the 2023 financial year. Chief Financial Officer of NNPC Ltd, Umar Ajiya who addressed newsmen on Monday on the development, said this … Continue reading BREAKING: NNPCL declares N3.3trn profit for 2023 financial year
AGS NEWS – The 2024 Ecobank Fintech Challenge has announced 12 finalists, including Nigerian firms Sawport Video Banking and Sproutly Africa. The announcement was made during the first semifinal event held at the Ecobank Pan African Centre in Lagos by … Continue reading 12 finalists emerge in Ecobank fintech challenge
AGS NEWS – The Managing Director of NielsenIQ East & West Africa, Faith Wanderi, highlighted the importance of continuous innovation and cost-effective product offerings for manufacturers and retailers to meet the needs of consumers facing limited disposable income. Speaking at … Continue reading ‘70% of customers have switched brands’
AGS NEWS – The recent drop in stock prices for the Dangote Group, particularly Dangote Sugar Refinery and NASCON Allied Industries, has been linked to foreign exchange losses and the Securities and Exchange Commission’s (SEC) rejection of their proposed merger. … Continue reading Dangote stocks fall after merger rejection, forex challenges
AGS NEWS – The Nigerian National Petroleum Company Limited (NNPC) announced the discovery and confiscation of 63 illegal refineries last week, highlighting ongoing efforts against oil theft. The refineries were located in Bayelsa, Rivers, Abia, Imo, and Delta States. During … Continue reading 63 illegal refineries seized in one week – NNPC
AGS NEWS – Guaranty Trust Bank Plc confirmed a hacking attempt on its website domain, just a day after renewing the domain name. The incident, which occurred on Wednesday, temporarily disrupted the bank’s website, preventing customers from accessing online services … Continue reading GTB confirms attempt to hack bank’s website
AGS NEWS – The Debt Management Office (DMO) has announced the availability of two Federal Government of Nigeria (FGN) savings bonds for subscription, priced at N1,000 per unit. The first bond is a two-year savings bond maturing on August 21, … Continue reading DMO offers two new FGN bonds
AGS NEWS – The Nigerian equity market opened the week on a negative note, with the All Share Index falling by 0.72% to close at 97,881.75 points. This decline reduced the market’s year-to-date return to 31.87%, the month-to-date return to … Continue reading Equity market begins week with N404bn loss
AGS NEWS – Nigeria’s daily crude oil production saw a slight increase to 1.307 million barrels per day (mbpd) in July, according to the Organisation of the Petroleum Exporting Countries (OPEC) on Monday. This figure contrasts with claims by President … Continue reading Nigeria’s crude oil production now 1.3mbpd – OPEC
AGS NEWS – Nigeria’s 36 states received N39.62bn in ecological fund allocations between June 2023 and June 2024, according to data from the Federation Account Allocation Committee published by the National Bureau of Statistics. The ecological fund, established in 1981, … Continue reading 36 states got N39.6bn as ecological funds – FG
AGS NEWS – The Nigerian National Petroleum Company Limited (NNPC) has requested a refund of N4.71 trillion from the Federal Government to cover debts incurred for importing Premium Motor Spirit (PMS), commonly known as petrol. This claim, covering the period … Continue reading NNPCL demands N4.7tn petrol imports refund
AGS NEWS – Nigerian businessman Tony Elumelu has called on the government and security agencies to identify those responsible for stealing the country’s crude oil, especially using vessels that navigate through Nigeria’s territorial waters. Elumelu made these remarks in an … Continue reading Govt should tell us those stealing crude with vessels – Elumelu
AGS NEWS – Access Bank has introduced a new product aimed at providing affordable financing for businesses and customers seeking to adopt cleaner, more reliable electricity sources. The initiative, titled “Switch to Solar by Access,” was announced on Thursday as … Continue reading Access Bank offers cleaner energy financing to customers
AGS NEWS – The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to amend the Domestic Crude Supply Obligations Regulations 2023. This was disclosed in a notice signed by NUPRC Chief Executive, Gbenga Komolafe, on Thursday. In addition to … Continue reading NUPRC set to amend domestic crude supply regulations
AGS NEWS – The Nigerian National Petroleum Company Limited (NNPC) has requested a refund of N4.71 trillion from the Federal Government to cover debts related to importing petrol. The claim, detailed as “Exchange rate differential on PMS and other joint … Continue reading NNPCL demands N4.7tn petrol imports refund
AGS NEWS – Former President Olusegun Obasanjo has warned that those profiting from fuel importation will try to hinder the Dangote Petroleum Refinery. Obasanjo’s comments follow allegations by Aliko Dangote, President of the Dangote Group, about efforts by some ‘mafias’ … Continue reading Obasanjo reveals why fuel importers will frustrate Dangote
AGS NEWS – The Nigerian stock market experienced a positive turnaround on Wednesday, adding N97 billion to investors’ portfolios. The market capitalisation of listed equities rose from N55.033 trillion to N55.130 trillion, a 0.18 per cent increase. The All-Share Index … Continue reading Stock market rebounds, investors gain N97bn
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