LAGOS AUGST 17TH (NEWSRANGERS)-Nigeria’s state-oil firm NNPC said on Wednesday it has secured a $3 billion crude oil repayment loan from Cairo-based Afrexim Bank that will support the government’s reforms to stabilize the exchange rate market. A commitment letter and term sheet was signed on Wednesday for an emergency $3 billion crude oil repayment loan,…
LAGOS AUGUST 16TH (NEWSRANGERS)-Nigeria is considering selling stakes in about 20 state-run companies in a bid to raise funds and improve governance at the entities, Bloomberg reported on Tuesday. The Nigerian National Petroleum Company Limited (NNPC) is among firms the government may sell a stake in, according to the chief executive officer at the Ministry…
LAGOS AUGUST 4TH (NEWSRANGERS)-Nigeria is turning to gas as an alternative fuel after it scrapped a popular but costly subsidy on petrol that has seen pump prices rise sharply, angering motorists and businesses that use petrol to generate their own power. State-oil firm NNPC said late on Thursday it has partnered with NIPCO Gas to…
LAGOS JUNE 3RD (NEWSRANGERS)-The Nigeria Labour Congess (NLC) has declared a nationwide strike from next Wednesday. NLC President Joe Ajaero made the announcement after an emergency meeting of the union’s National Executive Council (NEC) in Abuja. The congress said it took the decision due to the fuel shortages across the country, following President Bola Tinubu’s…