29 C
Lagos, South Africa and New York
Monday, June 1, 2020

Nigeria LNG signs EPC contract for Train 7

LAGOS, May 13 - Nigeria LNG has signed the engineering, procurement and construction (EPC) contract for Train 7, its major gas expansion plan, Nigeria’s oil minister said on Wednesday. The long-awaited project is expected to boost Nigeria’s liquefied natural gas (LNG) output by more than...

Airtel Africa sales jumps as more customers sign up for phone intern

May 13 - Telecoms company Airtel Africa Plc on Wednesday posted revenue and profit growth for the full year, as more customers signed up for its mobile and data services, and on stronger activity in its biggest market Nigeria. The Africa-focused company went public...

COVID-19: Kaduna records first death as it confirms additional three cases

The Kaduna State Government says it has recorded its first casualty to the coronarus pandemic and additional three active cases. The state Commissioner for Health, Dr Amina Mahammed Bolani, confirmed this on Saturday in Kaduna. She said that the first fatality was among additional three COVID-19...

Seplat Petroleum posts $105.8mn loss in Q1 2020

Nigerian oil and gas company Seplat Petroleum has reported a loss of US$ 105.8mn in its unaudited Q1’20 result The loss was mainly driven by a US$145.5mn impairment loss (vs. gain of US$.14.0mn in Q1’19) charged on its oil and gas assets during the period. The...

Nigerian key crude programmes still missing as lockdown eases

LONDON, April 29 - Key Nigerian loading programmes were still missing on Wednesday while Angola issued a revised down May and a shorter final June programme. * Spot activity was limited as traders were waiting to see how key programmes for Bonny Light, Forcados and...

FGN Bond Stop Rates Moderate for All Maturities on Demand Pressure…

In the just concluded week, DMO sold FGN bonds worth N156.06 billion at the primary market auction, viz: 5-year, 12.75% FGN APR 2023 worth N30.07 billion, 15-year, 12.50% FGN MAR 2035 paper worth N72.25 billon and 30-year, 12.98% FGN MAR 2050 debt worth N53.74 billion. Given the...

MDXi offers solutions that helps you stay ahead of competition-Adegbiji

Gbenga Adegbiji has just been appointed Chief Operating Officer, MDXi, a subsidiary of frontline data and connectivity service provider, MainOne. In this interview, he speaks on the role data centers play in the economy while specifically drawing attention to their relevance as the world...

Nigeria’s Buhari to speak on state of the nation on rising covid-19 cases, lockdown crisis

President Muhammadu Buhari will address the nation in a broadcast tonight Monday, April 13, 2020 at 7pm. Femi Adesina, the special adviser to the President (Media & Publicity) disclosed this in a statement. He did not state what the President’s address will be about but...

FCMB Group Research Q4 2019 Results Review: Maintaining Neutral Rating

By FBNQuest Research 15% increase to our 2020-21E EPS forecasts   FCMB’s management did not provide an earnings or ROAE guidance for 2020 on its Q4 2019 conference call. However, it acknowledged that near-term macroeconomic challenges arising from the COVID-19 pandemic and the sharp drop in...

Nigeria’s Economy Risk Worst Contraction Without Stimulus Package, Minister Says

Nigeria, Africa’s most populous country, may fall into recession this year if an economic stimulus plan isn’t put in place to check the effects of the coronavirus pandemic, Finance Minister Zainab Ahmed said. The country of more than 200 million people could see its economy...