Monthly Archives: November 2018

Budget Plans May Be Distorted, Economy Dragged Into Technical Recession As Oil Prices Head For The Rocks

As crude oil price slips below the $60/barrel budget benchmark, the fundamental pillars of the budget plan may be shaken and the economy slip into technical recession.

Naira Slumps In Spite Dollar Revenue From Cocoa, Visiting Nigerian Relatives … Analysts Say, 30% Fall In crude Oil Prices, Election Risk Culpable

For the first time in about 10 years, the naira has slumped against the dollar in the parallel market despite support from the Central Bank of Nigeria (CBN).
The turn in event is shocking as dollar inflows from cocoa, visiting friends and Nigerian relatives fail to lift the local currency as it has done in the past decade.

African Oil Producers Must Support OPEC To Restore Stability With Production Cuts

The African Energy Chamber urges the Organization of the Petroleum Exporting Countries and other key global oil producers, including Russia, to continue with the historic production cuts at the December 6, 2018 OPEC meeting to stabilize the oil price.

NNPC Set To Grow LPG Consumption, Targets 10% Global LNG Market Share

The Nigerian National Petroleum Corporation (NNPC) has expressed commitment to aggressively grow local consumption of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, even as it targets 10% market share of the global Liquefied Natural Gas (LNG) market.

Atiku Pledges Pro-Crypto Policies if Elected

Those involved in cryptocurrency and blockchain technology within the African nation of Nigeria have been promised new policies that embrace the phenomenon, should the country’s opposition leader get voted in. According to the report, Atiku Abubakar, who currently represents the People’s Democratic Party, is believed to be the main challenger to the current status quo.

Thousands Of UBA Staff Across Africa Give Back To Their Communities

UBA Foundation, the corporate social responsibility arm of the United Bank for Africa (UBA) Plc, on Friday, November 23, 2018 launched its Each One, Teach One initiative, hosting a huge impact day in Nigeria and across all its subsidiaries in Africa.

Dakuku Congratulates Ki-tack Lim On His Second Term

The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dakuku Peterside, has congratulated the Secretary-General of the International Maritime Organisation (IMO), Ki-tack Lim, on his re-election as head of the specialised United Nations body.

14–Year Old Odjegba Divine Is 2018 Winner Of UBA Foundation’s National Essay Competition

Two girls and a boy took the top three spots in this year’s edition of the UBA Foundation’s National Essay Competition as 14–year old Odjegba Divine Omesiri emerged the overall winner, carting away a brand new laptop as well as an educational grant worth N2,000,000.00 to study in any African university of her choice.
Odjegba, a student of the International High School, Delta State, clinched the first position at the grand finale, which was held on Monday November 26th,

12 Finalists Selected In UBA Foundation National Essay Competition 2018 Amidst Increase In Entries

UBA Foundation, the corporate social responsibility arm of the United Bank for Africa (UBA) Plc, has announced the twelve finalists for the 2018 edition of its annual National Essay Competition.
The 12 finalists will sit for the second round of the competition, where three winners will emerge after undergoing supervised essay writing on a different topic from the original entry, on Saturday November 25, 2018 at the Bank’s headquarters in Lagos.

Experts Size Up Nigeria’s Prospects

By rights, the past 12 months should have been a time of abundance for Nigeria.
The global price of oil, the commodity that provides 56 per cent of government revenue, has jumped 40 per cent, while the virtual cessation of militant activity in the oil-rich Niger Delta has allowed crude production to stabilise.