Business and Economy

A Niger Delta group, the Ifalibobou Revolutionary Movement, (IRM) says safety concerns over the state of an oil rig deployed to oilfields at Koluama coastal communities in Bayelsa is being addressed. The group said that efforts were being made by leadership of the Koluama communities Rural Development Board to respond …

By Chiazo Ogbolu Lagos, May 31, 2019 MTN Nigeria  Plc says it  has paid the sixth and final instalment of N55 billion negotiated settlement to the Nigerian Communications Commission (NCC). The Chief Corporate Relations Officer of MTN Nigeria, Mr Tobechukwu Okigbo, made the disclosure in a statement on Friday in …

Nestlé’s Research and Development (R&D) innovation challenge was launched in Lagos, Nigeria on Wednesday, May 29, 2019. The Sub-Saharan Africa challenge, which kicked off earlier in the week in Ghana, is part of the company’s efforts to contribute to the local innovation ecosystem. It is expected that the challenge will …

By Solomon Asowata Ikeja, May 29, 2019 Ethiopian Airlines on Wednesday confirmed that its ET901/29 flight made an aborted landing at the Murtala Muhammed International Airport in Lagos. The General Manager of the Nigeria operations of the airline, Mrs Firihiewot Mekonnen, in a statement, blamed the incident on bad weather. …

The Minister of Budget and National Planning, Senator Udoma Udo Udoma, at the 2019 Budget Breakdown Session in Abuja on Tuesday told Nigerians to be hopeful of a brighter future as the seeds of development planted in the last four years are germinating and soon will be bearing fruits. While …

As the noose on obligors of Asset Management Corporation of Nigeria (AMCON) tightens in line with its latest enforcement strategy, Justice Nnamdi Dimgba of the Federal High Court, Asaba at the weekend reechoed the fact that the task to strengthen AMCON’s recovery drive remains a national concern and a huge …

Corporate Icon, Chief [Dr.] Olusegun Osunkeye has advised Universities in Nigeria to appoint visiting Professors from outstanding people in the corporate world, who would give students nuggets from their vast experience. Osunkeye, an accomplished Chartered Accountant and former Chairman and Chief Executive of Nestle Nigeria Plc, stated this while delivering …

Zenith Bank Plc was presented with a Certificate for Greenhouse Gas Auditing by V4 Advisors after a successful completion of the Bank’s Greenhouse Gas Audit for the 2018 Financial Year. The presentation of the certificate and the report of the Auditors was done by V4 Advisors at the Zenith Bank …

The Management of Aiteo Eastern Exploration and Production  Company on Friday bemoaned frequent sabotage on the 97 kilometer, Nembe Creek Trunkline (NCTL) linking its oilfields in Bayelsa to the Bonny Export Terminal. Mr Victor Okoronkwo, Managing Director of Aiteo expressed the concerns of the oil firm during a fund raising …

By Sumaila Ogbaje Abuja, May 23, 2019 The Minister of Transportation, Mr Rotimi Amaechi, says the support and commitment of President Muhammadu Buhari to the development of transport infrastructure led to his achievements in the last four years. Amaechi disclosed this during his valedictory news conference on Thursday in Abuja. …

The 48th Annual General Meeting of Glaxosmithkline Consumer Nigeria Plc was held in Lagos on Thursday, May 23, 2019. Pictures here, by CHINYERE IKEANYI, show some of those who graced the event.

By Francis Onyeukwu Awka, May 23, 2019 The host communities of Nigeria Producing Oil and Gas (HOSCON), Anambra chapter, has given three companies operating in the state two weeks to upgrade their licences from oil exploration to oil prospecting companies. The group, which named the three companies as: Orient Petroleum …

END OF TENURE PRESS CONFERENCE BY THE HON. MINISTER OF BUDGET AND NATIONAL PLANNING, SEN. UDOMA UDO UDOMA HELD AT THE MINISTER’S CONFERENCE ROOM ON TUESDAY, 21STMAY, 2019. Gentlemen of the Press, It is my pleasure to meet with you today to give you a brief overview of what we have been …

Leo Stan Ekeh, serial digital entrepreneur and Chairman, Zinox Group has declared that the only way the Nigerian economy can realize the desired impetus to survive is for the Federal and State Governments to support disruptive entrepreneurs who are now the corporate miracles of every progressive economy. He cited America …

  Stakeholders in the Enugu Free Trade Zone (EFTZ) have declared willingness to work with the Ministry of Aviation in addressing all concerns over the proximity of one of the units of the free zone with the Akanu Ibiam International Airport. Enugu Power Free Zone Company (Enpower FZC) which manages …

By Sumaila Ogbaje Ibadan, May 18, 2019 The Federal Government has inaugurated the newly remodeled terminal building of the Ibadan Airport, to reposition the nation’s aviation industry. The Minister of State for Aviation, Sen. Hadi Sirika, while inaugurating the project, said the completion of new terminal was a reflection of …

11 Plc, formerly Mobil Oil Nigeria Plc, held its 41st Annual General Meeting (AGM) in Lagos, Nigeria. Pictures, by Chinyere Ikeanyi, shows some of the dignitaries that graced the event.

By Taiye Agbaje Abuja, May 16, 2019 The Senate, on Thursday, confirmed the renewal of appointment of Mr Godwin Emefiele as the Central Bank of Nigeria (CBN) Governor, for a second term. This followed the adoption of report of the Committee on Banking Insurance and Other Financial Institutions at plenary …

ABUJA – The Senate Committee on Banking, Insurance and Other Financial Institutions has lauded the Central Bank of Nigeria (CBN) and its Governor, Godwin Emefiele, for contributingimmensely to the stability of the Nigerian economy, in spite of the recession the country witnessed in 2016. The Chairman of the committee, Senator …

Twenty-nine scientists will vie to find long-lasting solutions to erosions, droughts and desertification plaguing different parts of the country in the 2019 edition of The Nigeria Prize for Science sponsored by Nigeria LNG Limited (NLNG). The Science Prize, first awarded in 2004 and now in its 15th year, comes with …

By Chidinma Agu Lagos, May 14, 2019 Mr Andy Odeh, the Manager, Corporate Communication and Public Affairs, Nigeria LNG Ltd., on Tuesday said only 29 entries were received for The Nigeria Prize for Science 2019 edition. Odeh said this at the Company’s Handover of Entries for the 2019 Nigeria Prize …

Taiye Elebiyo-Edeni Abuja, May 13, 2019 The Minister of Transportation, Mr Rotimi Amaechi said on Monday that the Nigerian government did not mortgage any property to secure infrastructural loans from China. Amaechi made the clarification at the 6th Annual East African Transport Infrastructure conference held in Nairobi, Kenya. According to …

By Chinyere Joel-Nwokeoma Lagos, May 13, 2019 Stock market operators on Monday expressed mixed reactions to plans by the Securities and Exchange Commission (SEC) to regulate conduct of Annual General Meetings (AGMs) and pre-AGMs. The operators spoke with  the News Agency of Nigeria (NAN) in Lagos. The new sub-rule seeks …

The Shell Petroleum Development Company (SPDC), on Friday allayed the fears expressed by Joinkrama 4 (JK 4) community in Rivers State on safety of pipelines being laid at Adibawa oil fields in the area. The residents had expressed fears that the laying of a new gas pipeline through the community …