Here is New Telegraph’s weekly business news roundup of the top 15 latest Nigerian news making headlines from Monday, June 17 to Saturday, June 22, 2024.

Nigeria’s Oil Output Rises Marginally To 1.46 mbpd

Nigeria’s total oil production increased marginally by 1.45 per cent in May 2024 to 1.46 million barrels per day, up from 1.44 million barrels per day in April.

Nevertheless, the new marginal gain fell short of the country’s OPEC quota of 1.5 million barrels per day and the 1.7 million barrels per day benchmark set for…Read more

Dangote Sinotruk Targets 60% Local Content As New CKD Plant Opens In Lagos

The President of the Dangote Group, Alhaji Aliko Dangote, has reaffirmed the readiness of one of his companies, Dangote Sinotruk West Africa Ltd (DSWAL), to further raise the level of local content in its vehicles to up to 60 per cent when Ajaokuta Steel Company comes on stream.

Alhaji Dangote spoke during the recent commissioning of DSWAL’s completely knocked down (CKD) plant in…Read More

KPMG Advises FG On Attracting FDIs To Mining Sector

The Federal Government has been urged to join relevant international mining organisations to attract Foreign Direct Investment (FDI) into its solid minerals sector.

The advice came from global audit, tax, and business advisory firm, KPMG, as the Federal Government strategized to boost the mining sector…Read more

NNPC Ltd, TotalEnergies JV Announce $550m FID On Ubeta Field Devt Project

In a major step towards boosting Nigeria’s oil and gas production, the NNPC-TotalEnergies JV has officially announced a 550 million USD Final Investment Decision (FID) on the Ubeta Field Development Project.

This is according to a statement issued on Thursday by the Chief Corporate Communications Officer…Read more

Nigeria, US, Russia, Six Others Account For 75% Global Gas Flaring – World Bank

Nigeria, the United States (US), Russia and six other countries, have been identified as major contributors to global gas flaring, according to the latest Global Gas Flaring Tracker Report by the World Bank.

The report, sighted by New Telegraph, on Friday stated that the nine countries now account for 75% of the world’s flared…Read more

CBN Hosts Dialogue With NESG, Organised Private Sector

The Central Bank of Nigeria (CBN) has hosted a dialogue between the Organised Private Sector (OPS) and the Bank’s leadership to explore strategies for enhancing Nigeria’s financial sector.

The meeting held at the Bank’s Lagos office on Wednesday, June 19, 2024, focused on exploring how broad-based monetary policy communication and guidance can…Read more

Seplat Energy Harps On Capacity Building

Seplat Energy Plc has said that capacity building is essential to grow the energy sector, adding that the media are critical stakeholders in the sector.

The Director, External Affairs and Social Performance, Seplat Energy, Mrs Chioma Afe, disclosed this during the first phase of its training...Read also

FG To Binance: Allegation Of Unsavory Detention, Failing Health False

The Federal Government has said the allegation by Tigran Gambaryan, one of Binance executives currently facing trial in Nigeria, that he is being held in unsavoury prison conditions, and that his health is deteriorating, is false.

The Minister of Information and National Orientation Alhaji Mohammed Idris, in a statement issued on Friday, explained that…Read more

Aiteo Confirms Oil Leak At OML 29, Nembe

Aiteo Eastern Exploration and Production Company (AEEPCO) operator of the NNPC/Aiteo Joint Venture on OML 29, has confirmed that it has detected an oil leak at its Nembe swamp facility in OML 29, in the Nembe Kingdom of Bayelsa State.

Recall that New Telegraph had reported earlier today that an oil spill had occured at the Nembe Creek on OML 29 on…Read more

Wakanow: Global Travel, Tourism Market To Hit $63bn

The Group Managing Director (GCEO) of Wakanow, Mr. Bayo Adedeji, has disclosed that spending in the global travel and tourism market is expected to hit $63 billion by the end of 2024.

In the same vein, Adedeji said, in Africa, the travel and tourism market was projected to reach a revenue of $38 billion by…Read more

PMS Price Increased By 223% In May

Data from the National Bureau of Statistics (NBS) has revealed that the average price of Premium Motor Spirit (PMS) increased by 223 per cent to approximately N770 per litre in May 2024 from N238.11 per litre recorded in the corresponding period of 2023.

The bureau explained in its latest report on its PMS Price Watch for May 2024 that on a month-on-month basis, an increase of 9.75 per cent was…Read more

Lekki Port Advises Agencies To Strategise On Cargo Evacuation

Lekki Port has advised the Federal Government agencies operating in all the nation’s ports to devise a long-term strategy for multimodal evacuation of cargo.

The Chief Operating Officer (COO) of the port, Laurence Smith said on Wednesday in Lagos at a maritime conference on the…Read more

Restrictive Market, Bane Of Africa Carriers, Says Walsh

The Director-General of the International Air Transport Association (IATA), Willie Walsh, has zeroed in on African airlines and insisted that their major single problem is that they operate in very small economies, rather than in Europe where an airline from one country can fly anywhere in the same region.

Operating in bigger economies, he reiterated, would help the carriers to spread their overhead costs across a much bigger market and ensure consumers would...Read More

IMF Urged To Alter Lending Reform For Nigeria, Others

As the International Monetary Fund (IMF) marks 80 years of its existence, global concerns over its lending policies to low-income countries, including Nigeria, have continued to grow.

Expressing her opinion in this regard to the lender, the Prime Minister of Barbados, Mia Amor Mottley, said as they confronted the multiple crises of the early 21st Century, middle-income countries needed lending…Read more

Nigeria’s Crude Export Threatened As AITEO Closes Oil Field

Nigeria’s crude oil export has been threatened as Aiteo Eastern Exploration and Production Company (AEEPCO), operator of the NNPC/Aiteo Joint Venture announced that it has shut operations at the OML 29 field.

In a statement by the company, it said that the closure became inevitable when it detected an oil leak at its Nembe swamp…Read more

VP Commends Elumelu Over Investment, Capacity Building

The Vice president, Alhaji Kashim Shettima has commended the Chairman of Heirs Holdings (HH), Mr. Tony Elumelu over his investment and capacity building in Nigeria.

The vice president described the chairman at the closing ceremony of HH Group Summit 2024 as an entrepreneur, economist and philanthropist, who had given life meaning to millions of…Read more