Business – Page 768 – Rise Africa

NNPCL executes gas sale agreement with Dangote refinery

14.11.2024

The Nigerian National Petroleum Company Gas Marketing Limited, a subsidiary of NNPCL, has executed a Gas Sale and Purchase Agreement with the Dangote Petroleum Refinery and Petrochemicals, Lagos. The agreement, signed by the Managing Director of NGML, Justin Ezeala, and the President/Chief Executive Officer of the Dangote Group, Aliko Dangote, on Tuesday at the Corporate...

India to assist Nigeria harness ocean resources

14.11.2024

The Consul-General of India in Lagos, Shri Chandramouli Kern, has stated that India is committed to assisting Nigeria in harnessing the potential of its untapped blue economy resources valued at $296bn. Speaking in Lagos recently, Kern emphasised the economic potential of Nigeria’s coastline, describing it as the new gold for growth and investment. He noted...

Extractive minerals bank will boost renewable energy sector – Official

14.11.2024

A multilateral development finance institution, the African Extractive Minerals Development Bank is underway to ensure focused and concerted funding of the critical minerals sector, thereby boosting energy transition plans through the availability of renewables. In a statement, a member of the bank’s advisory board, Mr Ganesh Iyer, said the African Extractive Minerals Development Bank was...

Firms sign deal to boost oil pipeline integrity

14.11.2024

Indigenous engineering and procurement firm, Marowin Engineering and Development Limited has announced its partnership with Elcometer, a manufacturer of equipment needed for maintaining integrity and flow assurance in pipeline systems. According to Marowin, the collaboration showcased at the just-concluded African Downstream Energy Week in Lagos, gives local industries ready access to Elcometer’s equipment and tools,...

Ex-NCDMB boss, Wabote, denies EFCC arrest

14.11.2024

The Former Executive Secretary of the Nigerian Content Development and Monitoring Board, Simbi Wabote, says he was not arrested by the Economic and Financial Crimes Commission. There were reports on Wednesday that Wabote was arrested over NCDMB’s investments in a modular refinery conceptualised by Atlantic International Refinery and Petrochemical Limited for Brass Island in Bayelsa...

N’Assembly, NADDC pledge support for local vehicle manufacturers

14.11.2024

The National Assembly and the National Automotive Design and Development Council have pledged legislative and policy support for local car manufacturers during an oversight visit by the House Committee on Industry to various vehicle assembly plants and facilities in Lagos. The House Committee, led by its Chairman, Dolapo Badru, acknowledged the unique challenges facing local...

USA, France join to examine crashed helicopter wreckage – FG

14.11.2024

The Federal Government says it has enlisted the services of aviation experts from the United States of America and France to examine the wreckage of the helicopter that crashed into the Atlantic Ocean last month. It also confirmed the successful retrieval of the wreckage after an intensive eight-day search. The Sikorsky SK76 helicopter with registration...

9mobile requires fresh capital to survive – NATCOMS President

14.11.2024

Nigeria’s smallest telecom operator by subscriber base, 9mobile, must secure fresh capital to revitalise its operations and reverse declining market share. With fewer than four million active users as of September, the company’s subscriber base has plummeted from over 22 million in 2015, according to the Nigerian Communications Commission. The President, National Association of Telecommunications...

Firm launches business tower

14.11.2024

An architectural firm, Maison in Martell, has announced the exclusive unveiling of the audacious OOH experience. In a statement, it stated that the Martell Tower redefined conventions with the presence of prominent dignitaries and influencers on November 8, 2024, beside Palms Mall, Lekki, Lagos. It stated, “The Martell Tower conveys Martell’s vision to become a...

Analysts peg October inflation at 33.48%

14.11.2024

Analysts have projected that Nigeria’s inflation figure for October will hit 33.48 per cent from 32.70 per cent in September. This projection is coming ahead of the National Bureau of Statistics inflation report for October expected to be released on Friday. According to a Senior Market Analyst At FXTM, Lukman Otunuga, inflationary pressures have been...