Home » Archives by category » Economy (Page 47)

ExxonMobil CEO: Ending Oil Production ‘Not Acceptable For Humanity’

ExxonMobil CEO: Ending Oil Production ‘Not Acceptable For Humanity’

Rex Tillerson, the boss of oil giant ExxonMobil, said cutting oil production was “not acceptable for humanity” as he fought off shareholders’ and activists’ attempts to force the company to fully acknowledge the impact of climate change on the environment and Exxon’s future profits. During a long and fractious annual meeting in Dallas on Wednesday, […]

Nigeria Ranks 64th On Minority Shareholders’ Interest Index

Nigeria Ranks 64th On Minority Shareholders’ Interest Index

Finance Minister, Kemi Adeosun, yesterday, described as gladdening Nigeria’s 64th ranking among 140 countries on the protection of minority shareholders interest, comparing favourably with China, 71st; Brazil, 78th; and Russia 116th respectively in the latest World Economic Forum ranking index of 2013/2016. The World Economic Forum index ranks countries yearly based on the strength of […]

Why Nigeria’s Tomato Paste Industry is Not Thriving

Why Nigeria’s Tomato Paste Industry is Not Thriving

A recent undercover survey has revealed that Nigeria’s porous borders and the poor capacity of Nigerian consumers to differentiate between quality and substandard tomatoes paste products are the biggest factors challenging the success of Nigeria’s indigenous tomato paste industry. A recent visit to the border town of Seme and Cotonou in Benin Republic revealed that […]

Dollar Shortage Stalls Fuel Imports

Dollar Shortage Stalls Fuel Imports

Another fuel crisis looks set to rock the country as some vessels are stuck off Nigeria, unable to unload their cargoes of petrol and diesel. At least 75 ships with two and a half million tonnes of fuel are waiting for importers in the country to find the dollars they need to pay for the […]

Skye Bank Advises SMEs On Long-Term Growth

Skye Bank Advises SMEs On Long-Term Growth

Skye Bank Plc has advised the Small and Medium Enterprises in the country to put in place strong internal control and effective book keeping measures as critical success factors for business sustainability. The Head, Small Business Group of the bank, Mrs. Ayodele Olojede, gave the advice in Benin City during the bank’s Pan-Nigeria SME seminar […]

Oil Up As Canada, Nigeria Problems Counter Stockpile Concern

Oil Up As Canada, Nigeria Problems Counter Stockpile Concern

Crude Oil prices rose yesterday, boosted by supply disruptions in Canada and Nigeria that have knocked out 2.5 million barrels of daily production and temporarily eclipsed concern over high global inventories and a looming surplus of refined products. Brent crude futures were up 39 cents on the day at $44.02 per barrel while U.S. crude […]

Oando Increases Gas Footprint via Ajaokuta LNG Project

Oando Increases Gas Footprint via Ajaokuta LNG Project

Oando Gas and Power Limited (OGP), the foremost indigenous developer and provider of gas and power solutions, and a fully-owned entity of Oando Plc, has commenced development of a mini Liquefied Natural Gas (LNG) facility through its Transit Gas Nigeria Limited (“TGNL”) subsidiary in Ajaokuta, Kogi State. The liquefaction plant is primarily directed towards fulfilling […]

Total Nigeria Plc Partners TATA Africa Services Nigeria Limited

Total Nigeria Plc Partners TATA Africa Services Nigeria Limited

On April 28, 2016, Total Nigeria Plc signed an after-market partnership agreement with Tata Africa Services Nigeria limited to supply high performance TOTAL branded lubricants. This local partnership is to trail and reinforce the global partnership agreement signed between Total Lubrifiants and Tata motors in Mumbai, India in September 2015. Total will support the Tata […]

Startup Capital: 6 Ways To Fund Your Businesses

Startup Capital: 6 Ways To Fund Your Businesses

When it comes to spearheading a successful business, the amount of money and sweat equity you put in is equally as important as the amount of time for the services you provide in return. People often go to extreme measures to keep their business afloat, some options being more realistic than others. Anyone can start […]

Halliburton Adjusted Profit Beats Estimate, Helped By Cost Cuts

Halliburton Adjusted Profit Beats Estimate, Helped By Cost Cuts

Halliburton Co, the world’s No.2 oilfield services provider, reported a higher-than-expected adjusted profit for the first quarter as deep cost cuts helped cushion the impact of a drop in drilling and completion activity. Net loss attributable to Halliburton widened to $2.41 billion, or $2.81 per share, in the three months ended March 31, from $643 […]