The scarcity of Premium Motor Spirit (PMS), commonly known as petrol, which hit the country few days ago, is beginning to subside following the approval of N413billion by the Federal Government for immediate payment of outstanding subsidy claims to oil marketers in the country . The payment according to government was to facilitate importation of petroleum products to ease scarcity, which has become a recurring crisis, especially in the last quarter of every year.

Determined to eliminate the long queues in many fuel stations across the country, the Federal Government recently approved the payment of N413 billion to petroleum products marketers in the country, being the outstanding payment for subsidy claims , although marketers insisted they are owed about N470 billion. The Nigerian National Petroleum Corporation, NNPC, also said it has injected additional volumes of petrol across the country to boost supply of the product .

International Finance Corporation (IFC), a member of the World Bank has said that the corporation’s total portfolio in Nigeria stood at 1.7 billion dollars (N334.87 billion). Mrs Eme Essien Lore, Country Manager, IFC Nigeria, made the disclosure in an interview with newsmen on Thursday in Lagos.

THE Nigerian Export Promotion Council has said that the country’s earnings from non-oil exports dropped by N52.2billion ($261million) in the second quarter of this year.

It is obvious that the publicly owned insurance companies have continued to declare losses compared to the privately owned who usually declare profit. Shareholders are eager to know the cause and thereby demand that it should be part of board and management of some of the insurance companies

FIDSON Healthcare Plc led last week on the league of top 10 performing stocks, rising by 13.67 per cent or N0.41 to close at N3.41 from N3.00 per share. Dangote Sugar Refinery followed with 8.29 per cent or N0.53 appreciation, closing at N6.92 from N6.39; Continental Reinsurance placed third, rising by 5.26 per cent or N0.05 to close at N1.00 from N0.95 per share.

Fidelity Bank Plc has reported an increase of 11.0 percent and 1.8 percent in its gross earnings and profit respectively for the nine months period ended September 30, 2015.

MILLIONS of bank customers were yesterday denied access to their bank accounts due to failure of banks to link their accounts to their Biometric Verification Number (BVN).

DEAR customer, due to the new BVN policy by the CBN your account has been deactivated and to reactivate, call……”

PET bottles recycling, a new line of business which sprang from the foods and beverages industry currently generates about 1,800 jobs across value chains — pickers, collection centres and recycling plants. PET bottles are containers made of a hydrocarbon called PolyEthylene Terephthalate, or PET, for short.