Richard Ginika Izuora United Arab Emirates, UAE, Energy Minister, Suhail Al Mazrouei, has played down the need for further cuts to balance supply and demand, weeks after the Organization of Petroleum Exporting Countries, OPEC, shocked the oil market by announcing a round of large production reductions. The UAE is the third-biggest producer within group. “I’m not that worried about the very, very short term,” Al Mazrouei, told reporters in Abu Dhabi Tuesday. “Let’s wait. This is not a prediction that I can give now or a decision, this is a collective decision,” on whether further OPEC+ supply adjustments are…
Author: Orientalnews Staff
Yemisi Izuora The Nigerian Maritime Administration and Safety Agency (NIMASA), has called on Nigerians in diaspora to consider investing in the country’s maritime sector, describing it as the next big thing packed with assets to fuel the growth of the economy. NIMASA’s Director General, Dr Bashir Jamoh OFR, made the call during the closing ceremony of the Global African Diaspora Symposium, themed, ‘Building stronger connections between Africa and the Global Diaspora,’ in Abuja. Representing the DG, the Director, Special Duties, Mr Isichie Osamgbi said, “the maritime sector is an untapped gold in the country and we see it as…
Yemisi Izuora Thirty-two women from Ikorodu have joined the 250 beneficiaries of Nestlé Nigeria’s Empowering Rural Women in Nigeria Project through which Nestlé is helping rural women in Nigeria build financial security to improve their standard of living. This is achieved through training, mentorship, and grants in form of Nestlé products. Beneficiaries of the program are female retailers in Nestlé Nigeria’s value chain. Nestlé Empowering Rural Women in Nigeria aims to help beneficiaries scale up their businesses and sustain the new level of up to three times the size of their existing businesses. Each beneficiary receives grants valued at…
Yemisi Izuora Leadway Pensure PFA Limited, one of Nigeria’s foremost Pension Fund Administrators (PFAs), has completed a mortgage transfer process to its Enrollee in alignment with the National Pension Commission (PenCom) guidelines. In September 2022, PenCom approved the guidelines for enrollees to access a residential mortgage employing their retirement savings account (RSA) in line with section 89 (2) of the Pension Reform Act 2014 (PRA 2014), adding that “RSA holders can use a portion (25%) of their RSA balance towards the payment of equity for a residential mortgage”. The Managing Director and Chief Executive Officer of…
Wema Bank has unveiled the latest brand jingle for its digital banking application, ALAT by Wema which is set to become an instant hit with customers and music lovers alike. The new jingle is part of the bank’s continuous efforts to connect with its target audience while staying true to its core values of innovation, excellence, and customer satisfaction. The jingle, which was created by the winner of its Sounds of ALAT competition, Onyelisigwe Bright and produced by one of Nigeria’s biggest talents in the entertainment industry, Cobhams Asuquo, features an upbeat, catchy tune with lyrics that reflect the…
By YEMISI IZUORA The presence of numerous untapped markets is one of the key factors driving the insurance industry in the African region. However, there are a few developed markets, such as South Africa, which are highly competitive due to the presence of well-capitalized local players. Key players from the global market seek to exploit these untapped regional opportunities, along with exploring ventures in concentrated markets. The African region consists of several underdeveloped and developing economies, with the insurance industry remaining largely staggering in terms of growth. However, overall economic growth in the region witnessed over the past decades…
Yemisi Izuora FMDQ Securities Exchange Limited, has announced the approval for the quotation of the Greenwich Merchant Bank Limited ₦12.20 billion Series 1 and Series 2 Commercial Papers (“CPs”) under its ₦100.00 billion CP Issuance Programme on its Platform. Greenwich Merchant Bank Limited is a Nigerian financial institution that provides a wide array of banking and financial services to corporate organisations, high net worth individuals, and institutional clients. In commemorating this remarkable accomplishment, FMDQ Exchange held a Quotation Ceremony at its offices in April. Present to celebrate the successful quotation of the CPs were the Issuer, Greenwich Merchant Bank,…
Francesca Odimgbe Lagos State Governor, Mr. Babajide Sanwo-Olu has received the Personality of the Year Award from the Triangle News Magazine in recognition of his exceptional contributions and indelible footprints in public office. Sanwo-Olu, who was represented by Lagos State Commissioner for Information and Strategy, Mr. Gbenga Omotoso, received the Triangle News Magazine Personality of the Year Award in London, United Kingdom, on Saturday. Other recipients of the Triangle News Magazine Personality Awards were Minister of Communication and Digital Economy, Prof Ali Isa Pantami; Nigeria’s High Commissioner to the United Kingdom, Ambassador Sarafa Tunji Isola and Chairman of…
Admin With a 32 per cent year-to-date appreciation in value, Fidelity Bank Plc’s shares have emerged Nigeria’s best performing year -to-date bank share. This is according to a recently published Bloomberg article. Speaking with the platform’s journalist, MD/CEO, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe shed light on the 35-year-old institution’s business expansion plans especially to other African countries after finalizing the acquisition of Union Bank UK, explaining that, “The strategy is for us to move footprint outside Nigeria and be able to compete favorably with our peers. In the next three years, we should be able to be in…
Yemisi Izuora Dorman Long Engineering Limited, a leading Oilfield Equipment, Structural Steel, Marine Structures Engineering, and Fabrication Company in West Africa, at the Offshore Technology Conference, OTC, in the US established itself by sponsoring a networking golf session held on the final day to conclude the conference. Dorman Long, a leading member of the Petroleum Technology Associ ation of Nigeria (PETAN), supported the national association by sponsoring PETAN’s program for the Nigerian Pavilion which was newly opened at this year’s event. The event was held at Quail Valley Golf Course and was open to all players. Golf enthusiasts took…