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Thu, Feb

Oil futures jumped to their highest level in over two years on Tuesday (26 September), driven by geopolitical tensions, anticipation of higher demand and Opec's claim that its aim to rebalance global crude inventories is being achieved.

The Nigerian Railway Corporation said it has the capacity to carry 900,000 litres of fuel at once with tank farm wagons. Director of Operations, Nigerian Railway Corporation, Niki Ali said that the Corporation has the capacity to meet the demand of moving petroleum products provided the oil marketers are willing to partner with the Corporation.

According to a new report by Price Water Coopers (PwC), dubbed Entertainment and media outlook:2017-2021: An African perspective', Nigeria will be the world's fastest-growing Entertainment & Media (E&M) industry between 2017- 2021. The country currently tops the industry followed by Kenya, Ghana, and Tanzania.

Sokoto state Governor, Aminu Waziri Tambuwal, has appealed to the Nigerian National Petroleum Corporation (NNPC), to embark on oil and gas exploration in the Sokoto Inland Sedimentary Basin with a view to establishing the volume and value of hydrocarbon deposits there.

Council members of the Nigerian Stock Exchange have elected Chartwell Securities Limited, represented by Mr. Oluwole Adeosun; Equity Capital Solutions Limited, represented by Mr. Kamarudeen Oladosu; Fortress Capital Limited, represented by Mr. Yomi Adeyemi; Pilot Securities Limited, represented by Mr. Seyi Osunkeye;

 The Federal Government on Wednesday said it is not reversing its concluded plans to concession Nigeria airports, beginning with Lagos, Abuja, Kano and Port Harcourt. The government said the decision was taken because it can no longer sustain the funding of the 22 airports across the country, assuring that the process will be transparent done and the aviation workers who fear possibility of massive job losses will be fully carried along.

Oil prices remained above the $56 mark on Thursday and Friday morning as traders await the outcome of the meeting between members of the Organisation of Petroleum Exporting Countries and other oil producers. The last time oil prices were above $56 was in June 2015 when the average price was $61.20 a barrel. The meeting will be focused on the possible extension of oil supply cuts that has been extended till March 2018.

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