LAGOS NOVEMBER 4TH (NEWSRANGERS)-Heritage Energy Operational Services Limited (HEOSL) has reiterated that in line with its vision to be the partner of choice for its stakeholders, the company will continue to give priority to the interests of the indigenes of the 112 host communities in OML 30 and will actively promote the participation of businesses…
LAGOS NOVEMBER 1ST (NEWSRANGERS)-Nigeria’s foreign reserves fell by $1.26bn from $41.76bn in October 2 to $40.5bn as of the end of October 30, according to figures from the Central Bank of Nigeria (CBN) on Thursday. The reserves which had continued to shed in recent months dropped by $482.18m from N45.14bn as of July 8 to…
LAGOS NOVEMBER 1ST (NEWRANGERS)-Nigeria is considering selling naira-denominated bonds abroad next year to fund infrastructure projects, Finance Minister Zainab Ahmed said. Africa’s biggest oil producer faces a significant increase in financing needs as it struggles to boost revenue required to fund increased spending on infrastructure. Almost 60% of Nigerians don’t pay tax and the state…
LAGOS OCTOBER 31ST (NEWSRANGERS)-Some persons associated with the Ghana Union of Traders Association (GUTA) have gone on rampage closing shops belonging to foreigners in commercial hubs in Kumasi in the Ashanti region. The closure that begun from Alarbar spread to Adhye and Kejetia Wednesday. The Ashanti Regional President of the Nigerian Association of Traders Union…
LAGOS OCTOBER 3TH (NEWSRANGERS)-Chevron is getting set to Leave Nigeria. Chevron is seeking to sell several Nigerian oilfields as part of a global drive to reshape its portfolio as it focuses on growing its U.S. shale output, banking and industry sources said. Chevron joins rivals including Exxon Mobil and Royal Dutch Shell in a drive…
LAGOS OCTOBER 30TH (NEWSRANGERS)-Africa’s largest oil refinery will deliver its fuels to Nigerian consumers via roads and sea ports and will effectively replace all of Nigeria’s fuel imports once fully operational, a company executive said on Tuesday. The 650,000 barrel per day Dangote oil refinery is under construction in Lagos, the biggest city in the…
LAGOS OCTOBER 28TH (NEWSRANGERS)-About two months ago, the Nigerian government announced the closure of the country’s land borders to all goods. According to the country’s Comptroller-General of the Customs Service, Hameed Ali, this was done to stem the influx of smuggled goods, especially rice and tomatoes, into the country. The border closure is an economic…
LAGOS OCTOBER 23RD (NEWSRANGERS)-The Tolaram Group, maker of Indomie Noodles, is building the biggest port in West Africa on the east side of Lagos with $1bn facility from China, according to the Financial Times. A report in Financial Times on Tuesday said the Singapore-based company was set to close financing this week for what could…