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Business and Economy

Excitement as Teleology finalizes its takeover of 9mobile ▪ Pays $50m deposit, ahead of deadline ▪ Unveils a 10-point plan of action ▪ Partners with Safaricom to transform 9Mobile ▪ New company to be “Engineering led, Brand driven”

The Nigerian telecom sector is set to witness a new era of innovation and vibrancy as Teleology puts finishing touches to its acquisition of 9mobile, Nigeria’s 4th telecom services provider. In the last few days, key executives of the organization have been deep in meetings with the Nigerian bank syndicate, …

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Government support for modular refineries’ financing in the Niger Delta region of Nigeria By Prof Chijioke Nwaozuzu

A recent publication on the 22nd February 2018 by SweetCrude, Abuja, stated that the Federal Government of Nigeria has initiated talks with potential financiers to contribute finance to investors in modular refineries in the Niger Delta region. Such financiers include Central Bank of Nigeria (CBN), International Finance Corporation (IFC), the …

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Shell debunks Amnesty’s allegations on spills management in Niger Delta; Deploys technology, best practice to curb crude theft

The Shell Petroleum Development Company of Nigeria Ltd (SPDC) has denied allegations of environmental mismanagement in the Niger Delta levelled against it at the weekend by Amnesty International, reiterating its commitment to swift response to oil spill incidents as much as access and security conditions permit teams to mobilise and …

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President Buhari approves establishment of National Food Security Council

Days after he announced the intention of the Federal Government to establish a National Food Security Council, President Muhammadu Buhari has approved the constitution of the Council’s membership. The Council, to be chaired by the President, will, according to a statement by Garba Shehu, Senior Special Assistant to the President (Media …

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NLNG calls for entries for 2018 The Nigeria Prize for Literature and Science competitions

Nigeria LNG (NLNG) Limited, sponsors of The Nigeria Prize for Literature and The Nigeria Prize for Science,has published the Call for Entries for the 2018 edition of the prizes. A statement by Tony Okonedo, Manager, Corporate Communications and Public Affairs, said that the focus for the literature prize in 2018 …

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House Committee on Maritime berates NIMASA for poor performance in projects execution

By Uchenna Eletuo  The House Committee on Maritime has berated the Nigeria Maritime Administration and Safety Administration (NIMASA) for poor performance in the execution of capital projects. The Chairman of the Committee, Mohammed Umar-Bago, who led his committee members on an Oversight of NIMASA on Wednesday in Lagos, said that …

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FAAN begins certification of 4 other International Airports – MD

By Adekunle Williams/Solomon Asowata  The Federal Airports Authority of Nigeria (FAAN) says it has begun the process of certifying the Aminu Kano International Airport, Kaduna International Airport, Port-Harcourt International Airport and Akanu Ibiam International Airports, Enugu. This is coming on the heel of a similar exercise carried out in 2017 …

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Nwankwo speaks at London Stock Exchange meeting; Advises African countries on economic transformation through debt financing

Wale Suleiman The immediate past Director General of the Debt Management Office, DMO, in Nigeria, Dr Abraham Nwankwo, has admonished African leaders to initiate robust macroeconomic, transformation plans to drive debt-financed sustainable economic growth and prosperity. Speaking on the topic “Shaping Africa’s Debt Financing Strategy: Removing Some Mental Cobwebs”, at …

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