Shale Drilling

A slow down of oil drilling by American shale oil producers helped to move oil prices to $49 a barrel in Monday trading, a good news for oil exporters such as Nigeria.

The Chief Executive Officer of Standards Organisation of Nigeria (SON), Osita Aboloma, on Monday said the agency has shut seven steel companies “in the last few months.”

The Senate Committee on Customs, Excise and Tariff, on Monday commenced investigation into rice smuggling in the country, with a public hearing in Abuja.

The ex-depot price of Liquefied Petroleum Gas is set to crash by about 20 per cent in the next few weeks with the intervention of major stakeholders.

The Federal Government has stated that Nigeria’s low crude oil output has negatively impacted on the implementation of both the capital and recurrent components of the 2017 budget.

Western lotto

The Managing Director, Western Lotto Nigeria Limited, Mr. Elvis Krivokuca, has disclosed that lottery can generate over N141.3 billion annually for the development of Nigeria’s economy.

Africa’s richest man and president of Dangote Group, Ahaji Aliko Dangote, plans to own 50,000 cows by 2019, and produce 500 million litres of milk per year.

The export of Liquefied Natural Gas (LNG) from Nigeria to China, Turkey, India and other countries has risen over the last six months.

In its determination to ensure improved electricity supply, the Federal Government has commenced disbursement of the N701.9 billion intervention funds to power Generation Companies, GENCOs.

Dana Air is set to reward frequent flyers with a new initiave called “Pay with Dana Miles,’’.