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Business and Economy

Apapa gridlock: Lagos suspends approval for development of tank farms …Issues 30-Day ultimatum to tank farms without adequate loading bay

The Lagos State Government on Monday announced the suspension of approval for development of tank farms in Apapa as part of its renewed effort to restore sanity completely and fashion out immediately and long term solution along the Oshodi-Apapa corridor and prevent a repeat of the chaos caused by containerized …

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SNEPCo donates ultramodern science labs to Kwara school

Shell Nigeria Exploration and Production Company Limited (SNEPCO) has donated four ultramodern science laboratories to Eruku Secondary Commercial School in Ekiti Local Government area of Kwara State. This is the latest effort by the Shell deep offshore company to spread its social investments  across Nigeria and boost the study of science …

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Ecobank Transnational Incorporated announces Patrick Akinwuntan as Managing Director & Regional Executive – designate of Ecobank Nigeria

    The Board of Directors of Ecobank Transnational Incorporated (ETI) (www.Ecobank.com) has announced the appointment of Patrick Akinwuntan as the Managing Director & Regional Executive – designate of Ecobank Nigeria, subject to applicable regulatory approvals. Prior to this appointment, Patrick was the Group Executive, Consumer Banking responsible for leading the Consumer Banking business across Ecobank’s global network of 40 countries, 36 of which are in Africa. As a seasoned banker with over …

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We will work with Senate to ensure quick passage of AMCON Amendment Bill – House of Reps

Barely one week after the Senate Committee on Banking, Insurance and other Financial Institutions called on President Muhammadu Buhari to issue an Executive Order on seizure of assets of persons who are indebted to Asset Management Corporation of Nigeria (AMCON), the Chairman of the House of Representatives Committee on Banking and Currency, …

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Apapa gridlock: Lagos Govt seeks FG intervention; Police, others begin ‘Operation Restore Sanity’ Friday

  By Folasade Adeniran/ Mateen Badru The Lagos State Government on Thursday sought the intervention of the Federal Government in enforcing the rule that all haulage operators must have designated parks immediately. The Commissioner for Information and Strategy, Mr Kehinde Bamigbetan, made the assertion in Lagos on the chaotic traffic …

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Amaechi seeks public opinions on performance in transport sector; Receives Award

By Taiye Elebiyo-Edeni The Minister of Transportation, Rotimi Amaechi on Wednesday sought public opinions on his performance in the transportation sector. Amaechi disclosed this in a statement issued by his Media Aide, Mr Israel Ibeleme in Abuja. The Minister, however, appreciated President Muhammadu Buhari and the general public for the …

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EU fines Google $5bn for breaching union’s competition rules

 The European Commission on Wednesday fined Google a record 4.3 billion euros (five billion dollars) for breaching EU competition rules with its Android operating system for smartphones and tablets. The commission accused Google of hindering competition and reinforcing its dominant position among search engines by forcing manufacturers to pre-install its …

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Clear air over alleged forged NYSC certificate, SERAP asks Kemi Adeosun

Socio-Economic Rights and Accountability Project (SERAP) has urged the Minister of Finance, Mrs Kemi Adeosun to “without further delay show responsibility and clear the air over the damaging certificate forgery allegations against her and settle the facts of the case once and for all.” The organization said, “Suspicions of certificate …

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NLNG seeks $7billion for sustainability, Train 7 expansion; Awards FEED contracts for Train 7

In the build-up towards Final Investment Decision (FID) later in 2018, Nigeria LNG Limited (NLNG) is seeking $7 billion from the global financial markets for the sustainability of its operations and expansion project which will increase its production capacity from 22 Million Tonnes Per Annum (MTPA) to 30 MTPA. NLNG …

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NIMASA seeks special interest rate for maritime asset acquisition …As Dakuku solicits stakeholders support to grow industry …Says Eastern Ports key to economic development

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has disclosed that the Agency is engaging the Central Bank of Nigeria, CBN, to create a special interest rate for maritime assets acquisition in Nigeria, stating that NIMASA is committed to opening new frontiers for …

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Mercedes-Benz posts new record of more than 1.18 million cars sold in first half-year

  Best half-year in the companies’ history: 1,188,832 cars sold (+3.9%) Strongest quarter of all time (594,528 units, +1.9%) More than 200,000 vehicles were delivered to customers worldwide in June alone (-2.6%) China continues as largest individual market with over 340,000 units sold since the beginning of the year (+16.2%) …

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Saraki commissions road, fertilizer project in Port Harcourt

President of the Senate, Dr. Abubakar Bukola Saraki, on Saturday, commissioned the Obiri Ikwerre – Airport Road in Port Harcourt, Rivers State, constructed by the Governor Nyesom Wike administration. Saraki also laid the foundation stone of the the Second Train of the Indorama Eleme Fertilizer Plant project, in Eleme Local Government Area of Rivers …

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