Business News

Royal Dutch Shell is in talks with the Nigerian government to sell the Anglo-Dutch company’s stake in onshore oilfields, CEO Ben van Beurden said on Tuesday. Shell, the operator of the West African country’s onshore oil and gas joint venture SPDC, has struggled for years with spills in the Niger Delta as a result of pipeline theft and sabotage as well as operational issues. The spills have led to costly repair operations and high-profile lawsuits. Speaking at the company’s annual general meeting, CEO Ben van Beurden said that Shell can no longer be exposed to the risk of theft and…
There are hard limits to what your brain can manage in a day. Ignore them at your peril. Simon Sinek has spoken about how much value he's gotten from studying the work of his long-time professional rival Adam Grant. Watching another person do very similar work but with his own unique strengths on display, Sinek claims, both frustrated him and helped him grow. For me the person who very often makes me feel that way is Oliver Burkeman. A former Guardian columnist and author of several books, Burkeman is not only obviously more accomplished than me, he also covers similar…
Oddly enough, the difference lies in what the manager does--not the employee. Great companies are built by great people; that's why the ability to identify and attract talentis nearly as important as the ability to develop talent. But why do some new employees get up to speed faster than others? That's a good question, one Google spent considerable time and effort trying to answer. (As with determining the qualities of a great leader, it's no surprise that one of the most data-driven companies in the world put some of its analytical horsepower into finding the best way to get new…
Banks have begun to place new limits on transfers domiciliary accounts holders can make from their cash lodgements. The limits range from $5,000 to $10,000, according to findings by our correspondents. A circular from one of the banks obtained by one of our correspondents on Friday said, “The maximum limit for foreign currency transfers by cash deposits is now $5,000 per month. “This means that only a maximum of $5,000 monthly will be allowed for transfers if the source of funds is a cash deposit into a domiciliary account. “Cash deposits of foreign currencies other than USD may be paid…
Nigeria National Petroleum Corporation (NNPC) has picked 15 consortia for its new crude-for-fuel swap contracts for one year starting in August, sources with direct knowledge of the matter said. The list includes major Swiss trading firms Trafigura, Vitol and Mercuria, oil major Total as well as large Nigerian traders Sahara Energy, Oando and MRS Oil. The contracts, known as direct sale, direct purchase (DSDP) are coveted since they are used to supply nearly all of Nigeria’s gasoline needs as well as cover some of its diesel and jet fuel consumption. NNPC did not have an immediate comment. The companies were…
National Bureau of Statistics said the federal government generated N392.77 billion as Company Income Tax (CIT) in the first quarter of the year. This is against N295.72 billion generated in Q4 2020 and N295.68 billion generated in Q1 2020, representing a 32.82 per cent and 32.84 per cent increase respectively. The Bureau disclosed this in its “Company Income Tax by sectors Q1 2021”, released on Wednesday. The bureau said breweries, beverages and bottling companies generated the highest amount of CIT with N23.26 billion, closely followed by professional services including telecoms which generated N18.17billion. It said state ministries and parastatals generated…
Property developer Olawale Ayilara is building housing estates in the affluent Lekki district of mega city Lagos, Nigeria’s commercial engine. But the cost of the project is expanding rapidly due to the increased price of cement. The price of a 50 kg (110 lb) bag of cement rose by a third, from 2,500 naira ($6.57) to 3,600 naira ($9.46) around November last year, he said. “It has a large effect in what the price of building development will be,” said Ayilara, CEO of LandWey Investments, which is building 12,000 homes spread across 14 sites in Lekki. “There is nothing the…
Remote work in a pandemic has brought on immense challenges. Workers find themselves overextended and overstressed as they juggle multiple personal and professional demands during the day. While being "always on" was once considered glamorous, our brains have switched to autopilot as we've acclimated to a state of perpetual overwork, often sacrificing our personal lives to get more stuff done. But are we really getting more done? For example, on a typical day, I'll find myself prepping for my next client meeting one minute, only to be interrupted by an urgent email the next that now demands my immediate attention.…
Wednesday, 12 May 2021 05:46

FG offers N150bn bonds for auction in May

Debt Management Office on Tuesday disclosed that Federal Government would offer N150bn bonds for subscription in May. A circular by DMO on its website showed that the breakdown of bonds comprised three bonds worth N50bn each. They are 10-year reopening bond to be offered at the rate of 16.2884 per cent and to mature in March 2027; a 15-year reopening bond to be offered at 12.5 per cent and mature in March 2035; and a 30-year reopening bond to be offered at 14.8 per cent and mature in April 2045. According to the DMO, the bonds which will be auctioned…
How leaders can implement intersecting technologies to drive more value, productivity and even serendipity at work. The pandemic has created a shift in how we conduct business. We've moved from talking across tables to talking to boxes on screens, and as a result, we are seeing a fundamental shift in how we get work done. However, according to Deloitte's 2021 Tech Trends research, the loss of in-person serendipity can create a long-term negative impact on innovation. The opportunity -- and challenge -- for leaders lies in preserving in-person collaboration while welcoming the benefits of digital. Scott Buchholz, Government & Public…
June 05, 2025

Nigerian Stock Market extends bull run with N483bn two-day gain

The Nigerian stock market has demonstrated remarkable resilience with a sustained upward trajectory over two…
June 02, 2025

Afenifere blasts Tinubu: ‘Midterm report shows woeful failure, economic deforms, and rising despair’

The pan-Yoruba socio-political organization, Afenifere, has issued a scathing midterm assessment of President Bola Tinubu’s…
June 05, 2025

This is the process that lets managers get the best out of their team

Frans Van Loef What does it mean to be a manager? In today’s world, managers…
May 31, 2025

Tools made of whale bones reveal inventiveness of prehistoric people

Artifacts found at archeological sites in France and Spain along the Bay of Biscay shoreline…
June 05, 2025

NCC warns DJs: Unlicensed music use could lead to 5-year jail term

The Nigerian Copyright Commission (NCC) has issued a stern warning to disc jockeys (DJs) against…
June 05, 2025

What to know after Day 1197 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Kiev regime ‘not interested in peace,’ turning to terror, suffering ‘huge losses’ on…
June 02, 2025

Opportunities and challenges unveiled: How AI revolutionizes education and mental health support

Terence Ma Tin Shu Play time helps both kids and adults in prevention and healing…
May 13, 2025

Nigeria's Flying Eagles qualify for World Cup after dramatic win over Senegal

Nigeria's U-20 national football team, the Flying Eagles, have secured their place at the 2025…

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