Economy

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Lekki Port: FG, Lagos to earn $201bn in taxes, royalties

Lekki Port: FG, Lagos to earn $201bn in taxes, royalties

By Godwin Oritse FEDERAL Government and the promoters of the Lekki Deep Seaport, yesterday, projected that the port in Lagos is capable of generating $158 billion through direct and induced business when the port becomes operational. Speaking to newsmen during a tour of the port, Minister of Information and Communication, Mr. Lai Mohammed, said the […]

Wema’s ALAT hits 1m accounts in one day

Wema’s ALAT hits 1m accounts in one day

Africa’s first Digital Bank, ALAT By Wema, has unveiled the #BeAudacious campaign, as part of activities commemorating its 5th anniversary. Wema Bank in a statement said: “The #BeAudacious campaign, which was led by the Brand Ambassador and one of Africa’s leading music icons, Davido saw ALAT By Wema target the opening of one million new […]

ProvidusBank to issue Nigeria’s 1st Eco-Friendly Debit Card

ProvidusBank to issue Nigeria’s 1st Eco-Friendly Debit Card

ProvidusBank has launched ProvidusEco, Nigeria’s first eco-friendly debit card at a ceremony that also coincided with marking this year’s Earth Day. Commenting, Managing Director and CEO of ProvidusBank, Mr. Walter Akpani, said, “ProvidusEco is a contactless card created with biodegradable materials and will in the first instance be released under the Platinum MasterCard brand.” According […]

Marginal fields: Cancel 2020 award, refund signature bonus, stakeholders tell FG

Marginal fields: Cancel 2020 award, refund signature bonus, stakeholders tell FG

By Nkiruka Nnorom Stakeholders in the energy sector have called on the Federal Government to reverse the award of 2020 marginal oil fields, citing the high bidding cost and signature bonus as too demanding on bidders. Specifically, they noted that the astronomical increase in the bidding cost and signature bonus between 2003 and 2020, have […]

OTC 2022: PETAN advocates independent path to energy transition

OTC 2022: PETAN advocates independent path to energy transition

By Udeme Akpan & Ediri Ejoh THE Petroleum Technology Association of Nigeria, PETAN, has called on Nigeria and other African nations to chart their independent energy transition paths. Many experts in Europe and other continents have already called for an immediate ‘ban’ of fossil fuel, citing its environmental hazards and other factors as reasons. Responding […]