Category archives for: Business

Nigeria Foreign Reserves Decline To Two-Month Low Of $42.86bn

LAGOS FEBRUARY 18TH (NEWSRANGERS)-The nation’s foreign exchange reserves have fallen to $42.86bn, the lowest level in two months, the latest data from the Central Bank of Nigeria showed on Sunday. The reserves, which stood at $43.174bn on January 31, dropped by $314m in two weeks to $42.86bn on February 14. The external reserves had risen […]

“Nigeria’ll Lose Over N140bn Over Election Postponement”

LAGOS FEBRUARY 16TH (NEWSRANGERS)-Mr Ken Ukaoha, President, National Association of Nigerian Traders (NANTs) says the country will lose more than N140 billion due to the postponement of the general elections. Ukaoha told the News Agency of Nigeria (NAN) in Abuja on Saturday that the postponement would affect the trading sector adversely. He noted that many […]

Shell, Joint Venture Partners Sign 300 Million Cubic Feet Of Gas

LAGOS FEBRUARY 14TH (NEWSRANGERS)-The Shell Petroleum Development Company of Nigeria Limited (SPDC) and its joint venture partners signed a Final Investment Decision agreement for a 300 million cubic feet of gas on Wednesday in Abuja at a ceremony witnessed by the Managing Director of Total Exploration and Production Nigeria Limited, Mr. Nicholas Terraz and the […]

FirstBank Partners Azuri To Bring Solar To Millions In Affordable Price In Nigeria

LAGOS FEBRUARY 7TH (NEWSRANGERS) – Azuri Technologies, a leader in pay-as-you-go solar technology in Africa, and First Bank of Nigeria Limited today announced a unique partnership that will help deepen financial inclusion in Nigeria while bringing affordable, reliable and clean power to millions of Nigerians. Under the partnership, Azuri’s solar home TV product will be […]

Cryptocurrency Founder Dies With Passwords To Clients’ $190m

LAGOS FEBRUARY 4TH (NEWSRANGERS)-In a case reminiscent of the MMM saga, Canada’s leading cryptocurrency exchange company has said it cannot immediately repay customers’ $190m because its founder died with their passwords. According to the Sky News, founder of QuadrigaCX, 30-year-old Gerald Cotten, died of alleged complications with Crohn’s disease during a trip to India where […]

Nigeria’s $15bn Oil Refinery Is On Track- Dangote

LAGOS JANUARY 22ND (NEWSRANGERS) — Nigerian billionaire Aliko Dangote said he’s on schedule to finish by next year his $15 billion oil refinery, which will be one of the world’s biggest, despite analysts saying the timeline is ambitious. “There are quite a lot of challenges, but we’re moving,” Dangote told reporters at a conference in […]

Nigerian Stock Exchange (NSE) Bans 35 Stockbroking Firms (SEE NAMES)

LAGOS DECEMBER 29TH (NEWSRANGERS)-The Nigerian Stock Exchange (NSE) says 35 stockbroking firms have been expelled. In a notice published in Punch newspaper, the exchange said the decision was reached after a special meeting of its national council on December 13. The NSE said the public should not deal with the expelled firms in relation to […]

Business Mogul, Femi Otedola Sells Forte Oil

LAGOS DECEMBER 25TH (NEWSRANGERS)-Nigerian businessman, Femi Otedola, has agreed to sell the entirety of his 75 per cent direct and indirect shareholdings in Forte Oil. In a letter sent to the Nigerian Stock Exchange and signed by Akinleye Olagbende, the general counsel of Forte Oil, Otedola said he was divesting from the company in order […]

GoodNews: Shell Targets 300m Cubic Feet Gas For Domestic Market

LAGOS DECEMBER 24TH (NEWSRANGERS)-The Shell Petroleum Development Company of Nigeria Limited (SPDC) has announced the Final Investment Decision (FID) on the Assa North Gas Development Project in Imo State, a major momentum to the domestic gas aspiration of the Federal Government for increased power generation and industrialisation. At peak production, the project is expected to […]

Shell Emerges Local Content Operator Of The Year 2018

LAGOS DECEMBER 12TH (NEWSRANGERS)-The Shell Petroleum Development Company of Nigeria Limited (SPDC) has emerged the Local Content Operator of the Year 2018 at the Annual Oil Industry Achievement Awards Dinner of the Petroleum Technology Association of Nigeria (PETAN,) an association of indigenous technical oilfield service companies in the upstream and downstream sectors. This marks the […]

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