Business and Economy

The Managing Director of Afrinvest, Mr. Ike Chioke, has said that the oil sector still remains a challenge to the Nigerian economy, despite the positive posture of the economy last year amid Coronavirus Disease infections.   Chioke said on the AIT show, ‘MoneyLineWithNancy’ recently, “The oil sector is an area the country …

…As Afreximbank launches centralised payment, settlement infrastructure platform for intra-African trade   ACCRA   President of Dangote Group, Aliko Dangote, has charged African leaders and citizens to be united in the promotion of the continent’s intrinsic greatness through improved trade relations among African countries. Speaking at the formal launch of …

   By Kadiri Abdulrahman Abuja, Jan. 14, 2022 The Debt Management Office (DMO) has released a calendar for the issuance of bonds for the first quarter of 2022 (Q1-2022). The calendar shows that on Jan. 16, DMO will issue a N70 billion to N80 billion, four years and 20 years …

Governor of Imo State, Senator Hope Uzodimma has met with Roche Group, representatives of Adapalm host communities and equity stakeholders on how best to maximise the N350b investment in Adapalm by Roche Group through the Public Private Partnership (PPP). Speaking to all the groups at the Sam Mbakwe Executive Chamber …

By Solomon Asowata Lagos, Jan. 13, 2022 The Board of Directors of Nigeria LNG Ltd. (NLNG) has approved the supply of 100 per cent of the company’s LPG production (propane and butane) to the Nigerian market. The NLNG made this known in a statement issued by Mr. Andy Odeh, General …

By Solomon Asowata Lagos, Jan. 12, 2022 The Nigeria LNG Ltd (NLNG) has debunked an online advertisement announcing vacancies for its Train 7 Project positions. The NLNG made this known in a statement issued by Mr. Andy Odeh, General Manager, External Relations and Sustainable Development, on Wednesday in Lagos. The …

By Itohan Abara-Laserian Lagos, Jan. 12, 2022 The management of Access Bank Plc has clarified that Access Capital Investment Platform was not in any way affiliated with the bank or its subsidiaries. The Bank’s Secretary, Mr. Sunday Ekwochi , disclosed this in a notice posted on the website of the …

By Solomon Asowata Lagos, Jan. 10, 2022 The Niger Delta Power Holding Company (NDPHC) Ltd has announced the shutdown of 504MW Alaoji Power Plant following the vandalisation of TotalEnergies NOPL Line on Jan. 7. Mr. Emmanuel Ojor, Head, Communication and Public Relations, NPDHC, made the announcement in a statement issued …

Abuja, Jan. 10, 2022 The Nigerian National Petroleum Company (NNPC) Limited has every reason to perform beyond expectation in 2022 as President Muhammadu Buhari on Friday inaugurated the Board of the newly incorporated NNPC. The inauguration, which took place in Abuja was to ensure strict compliance with Corporate Governance principles …

By Chimezie Anaso Umueri (Anambra), Jan. 9, 2022 The newly inaugurated Anambra Cargo Airport has recorded 142 flights with 3,865 passengers landing and taking off from the airport after one month of the opening of the facility. The airport was opened for commercial services on Dec. 7 last year. The …

By Stanley Nwanosike Enugu, Jan. 7, 2022 An interest group, Movement for Election of Nigerian President of Igbo Extraction, on Friday, commended President Muhammadu Buhari for appointing Sen. Margery Chuba-Okadigbo as Board Chairman of Nigerian National Petroleum Corporation (NNPC) Limited. Convener of the movement, Mr. Vincent Ezekwueme, told the News …

The Economic and Financial Crimes Commission, EFCC, secured a total of 2220 (Two Thousand Two Hundred and Twenty) convictions across all its Commands in 2021. The figure, which emerged from a review of the Commission’s performance in the outgone year, according to a statement by Wilson Uwujaren, Head, Media & Publicity …

Foremost financial institution, Fidelity Bank Plc, has inaugurated Corporate Social Responsibility (CSR) projects in the three South-Western states of Oyo, Ondo and Ekiti; as well as Kwara State. The projects which include the provision of maternal and healthcare materials for hospitals, renovation and furnishing of a juvenile correctional facility as …

A Chief Economic Adviser to the President (CEAP) has been appointed. He is Dr Doyin Salami, up till now Chairman of the Presidential Economic Advisory Council (PEAC). A 1989 doctorate degree graduate in Economics of Queen Mary College, University of London, Doyin Salami, 59, is Managing Director and Head Markets …

Mr. Haitham Al-Ghais, incoming OPEC Secretary General By Solomon Asowata Lagos, Jan. 3, 2022 (NAN) The Organisation of the Petroleum Exporting Countries (OPEC) has appointed Mr Haitham Al-Ghais as the organisation’s Secretary General effective Aug. 1. OPEC made the appointment at a Special Meeting on Monday held via video conference, …

By Nathan Nwakamma Yenagoa, Jan. 3, 2022 Bayelsa State government on Monday directed the Managing Director of the State Electricity Company, Mr. Olice Kemenanabo, to immediately connect Otuasega community to the national grid. The deputy governor, Lawrence Ewhrudjakpo, gave the directive as the government waded into a crisis between Shell …

By Ismaila Chafe Abuja, Jan. 2, 2022 Presidency has dismissed reports of crisis between President Muhammadu Buhari and members of the National Assembly (NASS) as fictional, saying the president never expressed anger in his dealings with NASS. It however, admitted that there was disagreement between the Executive and legislature over …

A New Year, January 1, 2022 early morning minor fire incident occurred at the Port Harcourt Refining Company (PHRC), according to a statement by Garba Deen Muhammad, Group General Manager, Group Public Affairs Division, NNPC. “The incident, which was contained in less than two hours was caused by a spark while …

  Lagos State Governor, Mr. Babajide Sanwo-Olu on Friday signed the 2022 Appropriation Bill of N1.758 trillion christened ‘Budget of Consolidation’ into law. Governor Sanwo-Olu, while signing the Bill at the Lagos House, Ikeja, said that the capital expenditure stands at N1.166 trillion, representing 66 percent of the budget estimates, …

* Contrary to the assertion in this op-ed, federal ownership of mineral resources did not start during the military era. It started during the early colonial era, when, admittedly, the country did not have a federal system of government. But, and this is crucial, it continued when Nigeria adopted the …

Former president Olusegun Obasanjo has theorized that the oil and gas found in the Niger Delta region belong to the federal government, and not to the oil-bearing communities. Legally speaking, Obasanjo can be said to be correct, because he was part and parcel of successive military juntas that cleverly and …

The Minister of the FCT, Abuja, Malam Muhammad Musa Bello on Tuesday, December 28, 2021 paid an inspection visit to the Next Cash and Carry Supermarket, Abuja which was engulfed in flames on Boxing Day, December 26, 2021. He was accompanied by the FCT Commissioner of Police, Mr. Sunday Babaji, …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is set to close out the 2020 marginal field bid round programme and has put in place all necessary machinery to progress the bid round exercise to conclusion in line with the Petroleum Industry Act 2021 (PIA). The Commission’s Chief Executive, Mr. Gbenga …

The Bayelsa State’s Government Technical Committee on the Nov 5 oil leak at Oil Mining Lease (OML) 29 at Nembe on Sunday faulted claims that the leak was caused by sabotage. The Committee also raised the alarm that the regulatory agencies that are expected to be neutral in their findings …

Former President of Nigeria, Chief Olusegun Obasanjo has recalled the role played by late Desmond Tutu in getting the Nigeria’s debt cancelled during his tenure as President, declaring that his death was a personal loss to him. The late anti-apartheid scion, pro-democracy guru and human rights crusader died earlier today …