Business and Economy

Shell Nigeria Exploration and Production Company (SNEPCo) and its co-venturers (ExxonMobil, TOTAL and ENI) have donated facilities including a modern test laboratory to the Nigerian Institute of Welding (NIW) at Imasabor-Ologbo, Benin City, in what has been hailed as a significant boost for the development of welding technology in Nigeria. …

The Nigerian National Petroleum Corporation, (NNPC) has announced the appointment and redeployment of top management staff in a major reshuffle exercise. In a statement signed by management in Abuja on Monday, the corporation said the exercise was designed to reflect operational realities and ensure sustained performance and profitability. In a …

Senate President, Dr. Abubakar Bukola Saraki, has advised State Houses of Assembly in the 36 states to adopt the recently amended Public Procurement Act and enact it in order to help local manufacturers in their respective states. Saraki who was addressing the first set of beneficiaries of the Skills Acquisition …

The Federal Government has commended the Australian government for its strategic partnership with the Ministry of Mines and Steel Development in developing the Nigerian mining sector. The Minister of Mines and Steel Development, Dr. Kayode Fayemi, gave the commendation Monday, at the opening session of a two-day capacity building workshop …

Tony Asuquo, Uyo Total E&P Nigeria Limited Port-Harcourt, has commenced rehabilitation work at the General Hospital, Ikot Abasi Local Government Area of Akwa Ibom State. This was in addition to the donation of essential drugs to selected health centres in offshore communities in Rivers and Akwa Ibom States respectively. Deputy-General …

Shell Companies in Nigeria (SCiN) continued to earn more recognition for their sustainable development efforts as they took home two trophies at the 10th edition of The Sustainability, Enterprise and Responsibility Awards (SERAs)-Corporate Social Responsibility Awards in Lagos on Friday. Shell Nigeria’s kinetic pitch won in the SERAs 2016 Innovation …

The 2017 Dodge Challenger has earned a five-star overall safety rating from the U.S. National Highway Traffic Safety Administration (NHTSA).Five stars is the highest rating in the regulatory agency’s vehicle-evaluation program. “This proves the 2017 Dodge Challenger is much more than a great-looking car,” says Mike Dahl, Head of Vehicle …

The Federal Government on Thursday in Abuja set the ball rolling for an expansive and all inclusive medium term economic development plan (2017 -2019), at a national economic retreat which featured Nigeria’s topmost economic and multiple technical experts Participants at the two-day retreat, drawn from the public and private sectors, …

United Bank for Africa (UBA) Plc is promoting financial literacy among young school children in Nigeria. To this end the bank’s Executive Director, Lagos and West, Mr. Ayoku Liadi was at the Olivet Baptist High School in Oyo to mentor and teach the students the benefits of inculcating financial discipline. …

In line with its commitment to provide exceptional customer service experience to its customers, leading electricity distribution company, Ikeja Electric, has launched in-branch payment terminals in 20 branches of the United Bank for Africa (UBA) across its network. The terminals will provide a secure and convenient payment option for its …

In keeping with the administration’s policy to create value chain for the state’s rice production, Cross River governor, Prof Ben Ayade, has flagged off the construction work on a multi million naira rice mill in Ogoja. At the groundbreaking ceremony, Governor Ayade disclosed that the mill which is the first …

The Bakassi Deep Seaport project embarked upon by the Cross River State Government has received a major boost following the approval by the Federal Government through the Ministry of Transport for the procurement of a Transaction Adviser. Governor Ben Ayade dropped the hint during a retreat organized by the state …

The founding fathers of Abia State had good reasons to initiate Abia State movement which eventually yielded the desired result in the creation of Abia State by the Babangida Administration in 1991. It took 24 years for another vital clause of their enabling charter, the Abia Charter of Equity, to …

Governor Ifeanyi Ugwuanyi of Enugu State has reiterated his administration’s commitment to embark on programmes that would develop and empower youths with entrepreneurial skills for wealth creation and self-sufficiency. Gov. Ugwuanyi spoke at the flag-off of the YUBOSS Entrepreneurship Summit organized by the Enugu State Ministry of Culture and Tourism …

In a bid to target a broader range of customers, Mercedes-Benz Vans expanded its model series with the introduction of the Mercedes-Benz X-Class pickup truck. At Stockholm, a concrete outlook was given with two concept X-class pickup trucks. The concepts were impressively designed to combine the best of both worlds. …

In a bid to re-energise and increase footfalls into the famous Obudu ranch resort as well as provide access to produce markets, Cross River State Governor, Prof. Ben Ayade, weekend, flagged off the construction work on a 134 kilometers Mfom-Okpoma-Imaje-Bekwarra-Obudu-Obanliku dual carriage road. The construction of the Federal road which …

In sustenance of its objective of empowering Women in Business, Access Bank Plc through its W Academy recently organised the Womenpreneur Business Workshop – a capacity building workshop for female business owners. The objective of the ‘Womenpreneur Business Workshop’ is to provide a practical capacity building program that will equip …

The Minister of Transportation, Rt. Hon. Rotimi Amaechi has assured Stakeholders of the Federal Government’s resolve to reposition the maritime sector for greater efficiency and competitiveness. The Minister who stated this during the celebration of the 2016 World Maritime Day with the theme “Shipping, Indispensable to the World” held in …

The Minister of Power, Works and Housing, Babatunde Raji Fashola (SAN) has disclosed that the 3 phase Roadmap embarked upon by the present administration in the sector is on course, adding that the Government is committed to the implementation of time lines and targets set in the document. The Minister …

Foreign and domestic participation in equities trading at the Nigerian Stock Exchange (NSE) has continued on a downward trend as revealed by the Nigerian Stock Exchange’s Domestic and FPI report for September. Total transactions at the nation’s bourse decreased by 19.49 percent from N117.71 billion recorded in August 2016 to …

Governor Ifeanyi Ugwuanyi of Enugu State has advised the Federal Government to intervene and compel companies with licenses or leases to mining fields in the state to commence operations or have such rights revoked. He also noted that the practice of holding on to mining leases without utilizing them could …

Oando Plc, Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchanges, announced unaudited results for the six months period ended 30 September, 2016, with the following highlights: According to the result released by the Nigerian Stock Exchange (NSE) the company’s turnover increased by 26 per …

Lagos State Governor, Mr. Akinwunmi Ambode on Tuesday appealed to the Senate to revisit the bill seeking one percent allocation to Lagos from the revenue accruable to the Federal Government, saying a passage of the bill would translate to economic prosperity and well-being of Nigeria. Governor Ambode, who spoke at …

The Senate Committee on Solid Minerals Development has commended the Ministry of Mines and Steel Development for the improvement in the revenue profile in the mining sector in 2016. The Chairman of the Committee, Senator James Manager, gave the commendation during a visit by committee members to the ministry on …