Four persons were feared dead on Monday as a tanker laden with petroleum product burst in to flame after colliding with a truck carrying a container. According to Punch, the incident occurred at Onigari Village, close to the Foursquare Gospel Church camp at Ajebo, along the Lagos-Ibadan Expressway.

The Nigerian Communications Commission (NCC) has revealed that it will announce and begin the implementation of a new interconnect rate for telecommunications companies on March 1.

The commission said this was necessary because the 2013 interconnect rate expired in 2016 and the industry had been using an interim interconnect rate of N24.40 kobo per minute for inbound international traffic.

Interconnect rate is the benchmark rate operator A pays operator B for calls made from network A to network B.

The management of Dangote Oil Refinery Company (DORC), on Monday, confirmed that a total of 150 fresh engineers have been trained in refinery operations in preparation for the take-off of its 650000 barrels per day refinery and Petrochemical plants, while additional 600 engineers will be sent for training before end of April.

The company said no fewer than 150 indigenous engineers have been trained in refinery operations in preparation for the take-off of its 650000 barrels per day refinery and Petrochemical plants.

Goldman Sachs on Thursday raised its 2018 oil price forecasts, projecting that Brent crude will soon top $80, fueled by blockbuster oil demand, a deal among big producers to limit output and U.S. drillers' inability to meet the world's growing energy appetite.

CNBC reports that the investment bank now sees Brent, the international benchmark for oil, averaging $75 a barrel over the next three months, up from its previous target of $62. Goldman also raised its six- and 12-month forecasts to $82.50 and $75, respectively.

Goldman's call puts it ahead of its Wall Street peers. J.P. Morgan last week forecast Brent would average $70 in 2018 and rise toward $78 in the first half of the year. Bank of America Merrill Lynch recently raised its target to $64.

Nigeria’s electronic payment industry rose by 35 percent to N69.7 trillion in 2017, from N51.6 trillion in 2016.

NIBSS data showed that while growth in value of PoS transactions rose in 2017, growth in value of NIP, NEFT and mobile transactions dropped during the year.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) is set to commence work on its proposed $3 billion (N1.08 trillion) refinery in two states of the federation.

The National President of the association, Mr Chinedu Okoronkwo, made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lagos on Wednesday.

IPMAN had in July 2014, acquired over 1,000 hectares of land to build refineries that would produce 200,000 barrels of petrol per day at Itobe in Kogi and Abbe in Bayelsa.

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, on Friday appealed to the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) to reconsider a 15-day ultimatum it issued the Federal Government.

A statement issued in Abuja by the NNPC Spokesman, Mr Ndu Ughamadu, said Baru expressed concern over “the possible effects the ultimatum would have on products supply and distribution chain in the country”.

MTN Group Ltd., Africa’s biggest mobile-network operator by sales, said it returned to profit in 2017, recovering from a $1 billion fine it paid for its Nigerian business in the prior period. In a statement, the company which is Nigeria’s largest telecommunications network said the financial statement would cover 12 months for the period ended December 31, 2017.

Phillips Oduoza, former group managing director of the United Bank for Africa (UBA), has launched Nova Merchant Bank.

A merchant bank is a financial institution that focuses more on investments, loans, asset management, mergers, acquisition and even advisory services to its customers.

Nova, Nigeria’s fifth merchant bank, officially began operations on Thursday, February 1 at its headquarters in Lagos.

Some yam farmers in the Federal Capital Territory (FCT) have called on the Federal Ministry of Agriculture to create storage facilities in all area councils of FCT to encourage yam exportation.

The farmers made the call in an interviews with News Agency of Nigeria (NAN) in Gwagwalada on Tuesday.

The farmers said that if adequate yam storage facilities were established in all area councils, it would encourage farmers in FCT to participate in yam exportation.