U.S. Drillers Cut Oil and Gas Rigs for the First Time in Three Weeks: Baker Hughes Report. U.S. energy firms reduced the number of operating oil and natural gas rigs for the first time in three weeks, according to a report by energy services firm Baker Hughes released on Friday. The oil and gas rig…
Shell Surpasses Forecasts with $7.7 Billion Quarterly Profit in 2024. Shell has reported a profit of $7.7 billion for the second quarter of 2024, surpassing analysts’ expectations of $6.46 billion. While this figure marks a decline from the $9.65 billion profit reported in the same quarter last year, it reflects the company’s robust operational and…
Nigeria and Kenya Lead the Way in Google’s Startups Accelerator Program. Kenya and Nigeria have emerged as the frontrunners in the latest cohort of the Google for Startups Accelerator Africa program, with the two countries dominating the list of 10 innovative startups selected from across the continent. Out of the 1,000 applicants, 10 startups were…
Seaports Deserted as Nationwide #EndBadGovernance Protests Sweep Across Nigeria. Nigeria’s seaports have fallen silent as widespread #EndBadGovernance protests sweep across the nation, with demonstrators demanding an end to economic hardship and poor governance. The protests, which began on August 1, 2024, in major cities, are set to continue until August 15. Cities such as Lagos,…
NIMASA and Delta Community opt for Alternative Dispute Resolution in CSR Dispute. The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Abade-Toru Manga Community Development Initiative have agreed to resolve a dispute through Alternative Dispute Resolution (ADR). This decision was made during a session before the House of Representatives Committee on Public Petitions, which…
NNPC Aims to Boost Oil Production to Two Million Barrels Per Day by Year-End. The Nigerian National Petroleum Company Limited (NNPC) has set an ambitious target to raise the country’s crude oil production to two million barrels per day by the end of this year. This goal comes after the nation’s daily oil output saw…
Oil Prices Surge Nearly 3% Amid Rising Middle East Tensions and U.S. Crude Stockpile Decline. Oil prices surged nearly 3% on Wednesday as escalating tensions in the Middle East, following the killing of a Hamas leader in Iran, and a sharp decline in U.S. crude stockpiles sparked concerns among investors. Global benchmark Brent crude for…
Federal Government Approves N1.455 Trillion for Road Projects Across Nigeria. The Federal Government of Nigeria has approved road construction projects worth over N1.455 trillion across various states. The approval was announced by the Minister of Works, Senator Dave Umahi, after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu at the Presidential…
AIICO Insurance Plans to Boost Future Dividends for Shareholders. AIICO Insurance Plc has announced plans to increase its dividend payouts to shareholders in the coming years, reflecting its commitment to delivering greater returns on investment. This decision was revealed by the company’s Managing Director/Chief Executive Officer, Mr. Babatunde Fajemirokun, during AIICO’s 54th annual general meeting…
Federal Government Seeks $500 Million World Bank Loan for Dam Safety and Water Management. The Federal Government of Nigeria has requested a $500 million loan from the World Bank to enhance dam safety and improve water resource management nationwide. This funding is part of the Sustainable Power and Irrigation for Nigeria (SPIN) Project, which aims…
