Business and Economy

The Bureau of Public Enterprises (BPE) has named members of the interim management team for the Abuja Electricity Distribution Company (AEDC) Plc. They are: Bada Akinwumi as Interim Managing Director; Sani Usman, Interim Chief Business Officer; Babajide Ibironke, Interim Chief Finance Officer; Donald Etim, Interim Chief Marketing Officer and Femi …

Governor Udom Emmanuel of Akwa Ibom State has been advised on the need to reopen the Four Point By Sheraton Hotel, in Ikot Ekpene, as a mark of honour for the man who brought him into office, former Governor, Senator Godswill Akpabio. A statement by a Lagos based group, Ibom …

Framework to be implemented with private energy investors An electricity sustainability framework that will provide reliable power to residential and industrial areas in Lagos State has been unveiled by Governor Babajide Sanwo-Olu. The Governor, on Wednesday, launched the State’s Electricity Policy at an energy stakeholders’ event organised by the Ministry …

By Solomon Asowata Lagos, Dec. 8, 2021 UTM Offshore and the African Export-Import Bank (Afreximbank) have signed a MoU to raise 2 billion dollars for the development of Nigeria’s first Floating Liquefied Natural Gas (FLNG) project. Dr Yahuza Kassim, Principal Consultant for the development of the facility stated in Lagos …

On December 1, 2021, Chevron Nigeria Limited (“CNL”), operator of the joint venture with the Nigerian National Petroleum Company Limited, (“NNPC”) – “NNPC/CNL JV” – marked 60 years of its operations in Nigeria.It was on December 1, 1961, that Gulf Oil Company, a subsidiary of Gulf Corporation, was registered in …

By Stanley Nwanosike Enugu, Dec. 6, 2021 The South East Amalgamated Markets Traders Association (SEAMATA), has sent a “Save Our Souls (SOS)” signal to the Central Bank of Nigeria (CBN) over multiple and indiscriminate charges and deductions on customers by commercial banks. SEAMATA, the umbrella association of traders in all …

Email:alexottiofr@gmail.com “If you lay with a scorpion, don’t be surprised when it finally stings you.” ―DaShanne Stokes One fateful day, Juan Souza Carlos, a Brazilian billionaire, received a fax message at his Sao Paulo office. Not too many people of the generation X and Y know much about fax messages. …

By Yunus Yusuf Ikeja, Dec. 5, 2021 Nigeria’s leading airline, Air Peace, begins scheduled flights into Anambra on Tuesday. Its spokesman, Mr. Stanley Olisa, confirmed the development in a statement issued in Lagos on Sunday. Olisa stated that the commencement followed approval of the Anambra International Cargo and Passenger Airport …

By Grace Alegba Lagos, Dec. 5, 2021 The Agbara-Seme border section of Lagos-Badagry expressway project will receive N15 billion of NNPC tax credit fund, Federal Controller of Works in Lagos, Olukayode Popoola, has said. Popoola told the News Agency of Nigeria (NAN) in Lagos on Sunday that the intervention funding …

By Nathan Nwakamma Yenagoa, Dec. 4, 2021 The National Oil Spills Detection and Response Agency (NOSDRA) has dismissed as “guess work” claims from several parties on the volume and the cause of ongoing leak from Aiteo’s oilfield at Nembe, Bayelsa. The News Agency of Nigeria (NAN) reports that the Bayelsa …

The world today is in turmoil through a combination of climatic and social tensions. Life and property are consequentially exposed to serious dangers. Protection of life and property has therefore become a major concern in the world today. This is more so for poor Africa that is very much in …

By Zubairu Idris Kano, Dec. 1, 2021 The Central Bank of Nigeria (CBN), has assured that it has put in place effective mechanisms to insulate the e-Naira from hackers and fraudsters. The Director, Corporate Department, CBN, Mr. Osita Nwanisobi, disclosed this on Wednesday at a Central Bank Fair in Kano. …

By Nathan Nwakamma Yenagoa, Dec. 1, 2021 The Managing Director, Shell Petroleum Development Company (SPDC), Mr Osagie Okunbor, on Tuesday said that local content in the Nigerian oil and gas sector has grown tremendously in the past decade. The News Agency of Nigeria (NAN) reports that Okunbor made the assessment …

By Itohan Abara-Laserian Lagos, Nov. 30, 2021 First Bank Nigeria Ltd. says it will leverage its vast experience in supporting trade businesses, especially the SME to support the Federal Government’s efforts to diversify the revenue base of the economy. Dr Adesola Adeduntan, Chief Executive Officer, FirstBank, said this during the …

By Itohan Abara-Laserian Lagos, Nov. 29, 2021 First Bank of Nigeria Ltd has announced plans to explore opportunities in the non-oil export solutions to enhance the country’s economic diversification drive. This is contained in a statement made available to the News Agency of Nigeria (NAN) on Monday in Lagos. The …

The Nigerian oil and gas industry is strategic to the overall socio-economic development of the country. Nigerian Content (“NC”) development is critical for the nation as it progresses in its quest to acquire oil and gas technology and build indigenous capacity in the oil and gas industry. As an industry …

The Presidential Amnesty Programme (PAP) and the Nigerian National Petroleum Corporation (NNPC) have agreed to tackle pipeline vandalism, unemployment and other challenges in the Niger Delta region.   The agreement was reached when PAP’s Interim Administrator, Col. Milland Dixon Dikio (rtd) led a delegation to visit the Group Managing Director, NNPC, …

By Yunus Yusuf Lagos, Nov. 27, 2021 The Federal Airports Authority of Nigeria (FAAN) says it has suspended some officials for allegedly extorting a passenger at Murtala Muhammed International Airport, Lagos. Mrs. Henrietta Yakubu, General Manager, Corporate Affairs of FAAN, disclosed this in a statement in Lagos on Saturday. Yakubu …

Abuja, Nov. 25, 2021: Hon. Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM)  has applauded NIDO Russia for facilitating  investment opportunities back to the country. Dabiri-Erewa made this statement while receiving the  ‘Fact Finding Trade Mission’ from the Russian Federation led by Amb. Abdullahi Shehu, Nigerian Ambassador to Russia, in …

By Emmanuella Anokam Abuja, Nov. 24, 2021 Chief Timipre Sylva, Minister of State for Petroleum Resources on Wednesday said the oil spill at Aiteo Eastern Exploration Company, in Basambri, Bayelsa would be speedily addressed. The minister made this known when he undertook an on-the-spot assessment of the oil spill site of …

Following the oil spill from one of its facilities in Bayelsa State, Aiteo, an indigenous oil company has rushed over to the affected community some palliative items to cushion the adverse effects of the spill as well as for the Christmas festivities.  The palliatives were handed over to the community …

By Kadiri Abdulrahman Abuja,  Nov.  24, 2021 The Central Bank of Nigeria (CBN) has urged the Federal Government to prioritise investment in infrastructure to improve the country’s business environment and boost economic growth. Mr. Godwin Emefiele, the CBN Governor made the call Tuesday night in Abuja while reading the communique …

Nigeria’s leading after-sales service provider, TD Plus has flagged off a campaign, offering free device support to all customers. This free offer is in partnership with TD Africa, Sub-Saharan Africa’s foremost distributor of technology and lifestyle products. Customers with defective items purchased from TD Africa from October 1st, 2021 would …

President of the Senate, Ahmad Lawan, has given the Committee on Appropriations till Wednesday this week to conclude budget defense by subcommittees of the upper chamber. Lawan explained that the ultimatum became necessary in keeping with the December 14 timetable for the passage of the 2022 budget by the National …