Author name: Godswill Odiong

CSR: Veritas Kapital Assurance rewards winners

By Our Correspondent The winners of Veritas Kapital Assurance PLC CSR Quiz Competition for students in tertiary institutions have been rewarded with many gifts. Executive Director (Operation), Veritas Kapital Assurance PLC, Mr. Olasunkanmi Adekeye dislosed that the initiative was targeted at promoting students’ interest in insurance. Speaking during the presentation of various prizes in Lagos, […]

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BREAKING: Nigeria’s Bonny Light price hits $70.15 per barrel

OIL MARKET UPDATE: Prices to hit $90 soon as USA’s crude, gasoline inventories drop

By Eyo Nsima Crude oil inventories have dropped by 4.346 million barrels, according to the American Petroleum Institute (API) data, thus sustaining the continued surge in prices. The API data obtained by The Daily, www.thedaily-ng.com, indicated that U.S. crude oil production fell to 12.2 million bpd for week ending March 24, 2023. But the major

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ELECTRICITY: NERC issues new Order seeking financial control of govt-owned TCN

NERC directs DisCos to connect new customers within 10 days

By Eyo Nsima The Nigerian Electricity Regulatory Commission, NERC, has directed the Electricity Distribution Companies, DisCos, to install meters for new customers within ten days after a written request.   In its Charter unveiled in Abuja Tuesday, NERC disclosed that the DisCos are under obligation to visit a consumer’s premises within 24 hours after a

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ACCESS HOLDINGS PLC EXTENDS RIGHTS ISSUE ACCEPTANCE PERIOD TO AUGUST 23, 2024

Access Holdings completes injection of $300m into Access Bank

By Eyo Nsima Access Holdings Plc has completed the injection of a US$300 million (Three Hundred Million United States Dollars) capital investment into Access Bank Plc, its major subsidiary. In a statement obtained by The Daily, https://thedaily-ng.com, Sunday Ekwochi, Company Secretary stated:” Over the years, the Bank has made significant strides towards attaining strong market

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ECONOMY: How Nigeria’s Capital importation dropped to $1.06 bn in Q4’22

By Eyo Nsima There were indications that Nigeria has not been attracting much investment as Capital imported into the nation’s economy recorded the fourth consecutive quarterly decline to $1.06 billion in the fourth quarter of 2022 (Q4’22), from $1.15 billion in Q3’22. Data obtained by The Daily, https://thedaily-ng.com, from the National Bureau of Statistics, NBS,

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BREAKING: Electricity supply worsens as generation drops 9.8% to 4,090.6MW

By Eyo Nsima Electricity supply has worsened following the drop of generation by 9.8 per cent to 4,090.6MW on Tuesday this week, from 4,536.9MW, recorded the previous day. The low generation culminated in low transmission and distribution to consumers in different parts of the nation. An investigation by The Daily, www.thedaily-ng.com, indicated that the 11

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OIL MARKET: Prices still rising toward $90 per barrel over OPEC output cut

By Eyo Nsima The latest 1.16 million barrels per day, bpd oil cut by the Organisation of Petroleum Exporting Countries, OPEC, has continued to send oil prices rising in the global market. Oil prices had instantly risen to about $84 per barrel in response to the cut, which major consumers, especially the United States, have

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African energy businesses to pitch for millions in funding at Energy Investment Village

The Green Energy Africa Summit (GEAS) has announced the launch of the 2023 Energy Investment Village (EIV), an exciting deal-pitching event for African clean-tech start-ups and energy projects. The EIV is now open for entries from emerging African energy businesses and will culminate in a lion’s den-type pitching event during the GEAS in Cape Town

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Seplat: Arunma Oteh canvasses support for Small and Medium Scale Enterprises

By Eyo Nsima A former board member of Seplat Energy, Arumah Otei, yesterday, canvassed support for Small and Medium Scale Enterprises, SMEs in Nigeria. Speaking in Abuja at Seplat Energy global entrepreneurship programme, she pointed out that SMEs contribute about 70 percent of gross domestic product of many nations. She said: “Nigerians don’t want handouts.

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