Business and Economy

The pioneer post graduate students at the Marine and Offshore Engineering Centre of Excellence have commenced studies at Rivers State University, Port Harcourt, involving 18-month academic and field work that will lead to the award of Masters degrees in Marine Engineering (Power Plants), Naval Architecture and Offshore and Subsea Engineering. …

By Taiye Elebiyo-Edeni   The Federal Government has signed 45million dollars interim phase agreement with General Electric (GE) for the concession of narrow gauge rail lines in the country. The Minister of Transportation, Mr Rotimi Amaechi disclosed this on Monday in an interview with the News Agency of Nigeria (NAN) …

By Donald Ugwu  President Muhammadu Buhari said on Monday that the Federal Government has saved N200 billion through the elimination of ghost workers by the action of the Presidential Initiative on Continuous Audit (PICA), the monitoring organ of the whistleblower policy. Buhari, represented by Vice President Yemi Osinbajo, announced this …

By Folasade Folarin  The Federal Government on Monday opened its May savings bonds’ offer, the Debt Management Office (DMO) said. According to the offer circular obtained from DMO’s website by the News Agency of Nigeria (NAN), it offered the two-year bonds at 9.48 per cent and the three-year bonds at …

By Chinyere Joel-Nwokeoma  The equity sector of the Nigerian Stock Exchange (NSE) reopened on a negative territory on Monday despite price gains that outweighed loses with the market capitalisation losing N16 billion. The News Agency of Nigeria (NAN) reports that the market capitalisation dipped N16 billion or 0.11 per cent …

The Total Group in Nigeria which comprise of Total Nigeria Plc and Total Upstream Companies and her partners (NNPC, NAPIMS, SAPETRO, Petrobras & CCNOC) joined the rest of the world to mark this year’s World Malaria Day. The determination of Total and her partners to eradicate malaria in Nigeria has …

  By Desmond Ejibas Prof. Wumi Iledare of the University of Port Harcourt, has urged President Muhammadu Buhari to assent to the Petroleum Industry Governance Bill (PIGB) passed by the National Assembly. Iledare, who is also the Director of Emerald Energy Institute of the university, made the call during a …

 By Douglas Okoro  The Ebonyi Government says it has obtained N8 billion loan from some financial institutions to improve agricultural production in the 2018 cropping season. The Commissioner for Agriculture and Natural Resources, Mr Ikechukwu Nwobo, said this on Friday at a news conference in Abakaliki. He said that the …

By Ismaila Chafe  The Federal Executive Council (FEC) on Wednesday approved a 4-man ministerial committee saddled with the responsibility of ensuring speedy completion of the East-West road in the Niger Delta and N142.5billion for construction of roads across the country. The Minister of Transportation, Mr Rotimi Amaechi and that of …

Kia Motors Corporation announced its April 2018 global sales figures for passenger cars, recreational vehicles (RVs) and commercial vehicles, recording a total of 240,028 units sold, increasing 9.3% from 2017. In April, sales in Korea totaled 50,004 units, representing an increase of 14.9% compared with the same month last year …

The Federal Controller of Works, Anambra State, Mr. Innocent Alumonah, has said that repair work on the Niger Bridge will be completed by December. Alumonah, while dialoguing with the press at Asaba on Monday, April 30, 2018, said the bridge is being repaired to bring it back to full performance …

By Chinyere Joel-Nwokeoma  Fidelity Bank Plc on Monday announced an impressive result for the year ended Dec. 31, 2017 with a profit, after tax, soaring by 94 per cent. The bank in an audited result released by the Nigerian Stock Exchange (NSE ) posted a profit after of N18.9 billion …

By Chinyere Joel-Nwokeoma Fidelity Bank has strengthened the financial inclusion initiative of the Federal Government with about N215 million in two years. Mr Nnamdi Okonkwo, the bank’s Managing Director, stated this at the sixth/final draw of the ‘Fidelity Get Alert in Millions Promo Reloaded’ in Lagos. Okonkwo said the bank, …

  The fundamental socio-economic developmental question — “What Can We Do to Encourage SMEs to Trade and Invest Confidently Across the Commonwealth? — needs to be addressed within the framework of the varied economic and development capacities and capabilities of member-nations of the Commonwealth. In the first place, it has …

By Monday Ijeh  The Director of Highway Bridges and Design, Federal Ministry of Power, Works and Housing, Mr Sogbesan Adetokunbo says the main project on the second Niger bridge will gulp N210 billion. Adetokunbo, who said this on Friday in Asaba during a media tour of the project, noted that …

  By Chinyere Joel-Nwokeoma  Shareholders of FCMB Group Plc on Friday commended the board for consistent dividend payment, and also approved a dividend of N1.98 billion for the financial year ended Dec. 31, 2017. The shareholders at the company’s fifth Annual General Meeting (AGM) in Lagos, approved the payment of …

Facilitators of the Federal Government’s programme on Conditional Cash Transfer to the poorest of the poor in the society in Gombe state have called for the sustenance of the scheme following its positive impact on the lives of the rural dwellers. Some of the facilitators from three Local Government Areas …

By Thompson Yamput The Plateau Government on Tuesday declared N3.09 billion Internally Generated Revenue (IGR) in the first quarter of 2018. Mr Dashe Arlat, the Chairman, Plateau State Internal Revenue Service (PSIRS), made this known in an interview with the News Agency of Nigeria (NAN) in Jos. Arlat said that …

There are many opportunities for investment in Nigeria beyond the oil sector, the Minister of Budget and National Planning, Senator Udoma Udo Udoma, said in Washington DC, where he attended the Spring Meeting of the IMF/World Bank. While in Washington DC, the Minister had discussions with senior staff of the …

  By Racheal Ishaya The Minister of Finance, Mrs Kemi Adeosun and the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, affirmed on Sunday that the country’s positive growth outlook would be sustained. The Minister and the CBN Governor gave this assurance at a joint press briefing at the …

The Nigerian Academy of Engineering recently inducted Mr.  Alfred .I .Okoigun, the Group Managing Director, GMD, of Arco Group Plc, as an Honorary  Fellow at the Eko Hotel and Suites in Lagos. The programme, which had as Guest Speaker, a former Vice Chancellor of the University of Lagos, Prof Oye …

Ocean and Cargo Terminal Services Limited has emerged the preferred bidder for the concessioning of Terminal B Warri Old Port in Delta State. At the financial bids opening for the Port Terminal held by the Bureau of Public Enterprises (BPE) in Abuja on Wednesday, April 18, 2018,Ocean and Cargo offered …

By Mohammed Ahmed Kaigama ‎ Dr Makanti Baru,  the Group Managing Director(GMD) of the  Nigeria National Petroleum Corporation (NNPC) , has advised parents to encourage their daughters to take up careers  in engineering. ‎Baru gave the advice on Saturday in Misau at the  inauguration  of the Association of Professional Women …

In an effort to reduce unemployment, rural-urban drift and diversify the economy through boosting agriculture, the Bauchi state government has signed an agreement for the supply of 500 units of tractors for distribution to farmers through public-private-partnership. While signing the agreement, Friday, Governor Mohammed Abdullahi Abubakar said the epoch-making event …

  By Chiazo Ogbolu Digital entrepreneur and Chairman of Zinox Group, Mr Leo Stan Ekeh, has urged financial institutions to explore creative avenues to support startups. In a statement in Lagos on Friday, Ekeh said that the step would help to empower millions of jobless youths. “One of the major …