Business and Economy

 By Raji Rasak The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) on Friday assured motorists of regular supply of petroleum products during the Easter period and beyond. The Lagos Zonal Chairman of the union, Mr Tayo Aboyeji, gave the assurance in an interview with the News Agency of …

By Aisha Cole   The President, Association of Nigerian Licensed Customs Agents (ANLCA), Mr Iju Nwabunike, has called on the Federal Government to dredge the Eastern ports to attract more cargo and decongest the Western ports. Nwabunike, also a Director, Inland Container Terminal, Kaduna, made the call during his visit …

Mrs. Aisha Ahmad and Mr. Edward Lametek Adamu have formally assumed duty as Deputy Governors of the Central Bank of Nigeria (CBN), following the confirmation of their appointments last week by the Nigerian Senate. The trio of Professor Adeola Festus Adenikinju, Dr. Robert Asogwa and Dr. Aliyu Rafindadi Sanusi were …

By Oluwatope Lawanson The Nigerian Bar Association (NBA), Ikeja Branch, has restated its resolve to embark on another round of protest on March 29 over the reviewed Lagos Land Use Charge. The NBA Chairman, Mr Adeshina Ogunlana, said at a media briefing on Wednesday that in spite of the reduction …

By Racheal Ishaya The Minister of Finance, Mrs Kemi Adeosun says she is meeting with the NNPC GMD over discrepancies in payment into the Federation Account. This is coming after the Federation Account Allocation Committee (FAAC) meeting on Tuesday became  inconclusive due to discrepancies of about N37.76 billion in revenue …

By Ismaila Chafe President Muhammadu Buhari on Monday in Abuja inaugurated the National Food Security Council with a pledge to develop new programmes that would create more jobs in the agricultural sector. Speaking during the inauguration, the President pledged that his administration would remain focused in securing the nation’s food …

By Adekunle Williams and Solomon Asowata  The Minister of State for Aviation, Sen. Hadi Sirika, says Aviation Security (AVSEC) personnel of the Federal Airports Authority of Nigeria (FAAN) will soon be licensed to carry arms to complement other agencies in combating security threat. À statement signed by Mrs Henrietta Yakubu, …

The Northern States Governors’ Forum has held a meeting with the national leadership and state chapters of the Miyetti Allah cattle Breeders Association as part of efforts to find lasting solutions to the continued clashes between herders and farmers across the federation. The meeting, which held in Sokoto, had in …

By Stanley Nwanosike The Nigerian Port Authority (NPA) has appealed to importers and exporters to patronise ports in the Eastern flank of the county to decongest ports in Lagos. The NPA’s Managing Director, Hadiza Bala-Usman, made the appeal at the NPA Special Day at the ongoing 29th Enugu International Trade …

  By Racheal Ishaya  The Central Bank of Nigeria (CBN) on Friday sustained its intervention in the Foreign Exchange market by injecting 339.89 million dollars in the Retail Secondary Market Intervention Sales (SMIS) segment. The Acting Director, Corporate Communications Department, CBN, Mr Isaac Okoroafor in a statement on Friday, said …

  By Sumaila Ogbaje/Taiye Elebiyo-Edeni   The Minister of Transportation, Mr Rotimi Amaechi, has called on states to key into the programmes and policies of the Federal Government in developing the nation’s transportation sector. Amaechi made the call at the ongoing meeting of Nigerian Transportation Commissioners Forum on Friday in …

The Nigerian Senate has confirmed the appointment of Mrs Aisha Ahmad and Mr. Edward Adamu as substantive Deputy Governors of the Central Bank of Nigeria (CBN) along with three members of the Monetary Policy Committee (MPC). The confirmed members of the MPC include Professor Adeola Festus Adenikinju, Dr. Aliyu Rafindadi …

The Nigerian telecom sector is set to witness a new era of innovation and vibrancy as Teleology puts finishing touches to its acquisition of 9mobile, Nigeria’s 4th telecom services provider. In the last few days, key executives of the organization have been deep in meetings with the Nigerian bank syndicate, …

Gov Simon Lalong of Plateau State has welcomed Chinese Ambassador, Amb Zhou Pingjian, who is on a working visit to the state with some Chinese investors. Gov. Lalong, who welcomed the guests with some members of his Executive, encouraged investments especially in Agriculture and Minerals development. Amb Zhou, on his …

Niger state Governor, Alhaji Abubakar Sani-Bello  on Monday flagged off the disbursement of a N2 billion Micro, Small and Medium Enterprises Development Fund in the state. According to a statement by Jibrin Baba Ndace, Chief Press Secretary to Gov. Sani-Bello, the scheme, a joint effort with the Central Bank of …

Several thousand jobs are on the line as the confrontation between white collar workers union, Petroleum and Natural Gas Senior Staff Association (PENGASSAN) and petroleum industry service firms enter attrition stage. It is not clear what specific actions the oil companies will take, but inferences are strong that massive staff …

The Group Managing Director and Chief Executive Officer, Skye Bank Nigeria Plc, Tokunbo Abiru, has advised students in secondary schools across the country to take money matters seriously if they wish to be in control of their financial future. He gave the advice while delivering a lecture during a one-day …

A recent publication on the 22nd February 2018 by SweetCrude, Abuja, stated that the Federal Government of Nigeria has initiated talks with potential financiers to contribute finance to investors in modular refineries in the Niger Delta region. Such financiers include Central Bank of Nigeria (CBN), International Finance Corporation (IFC), the …

The Shell Petroleum Development Company of Nigeria Ltd (SPDC) has denied allegations of environmental mismanagement in the Niger Delta levelled against it at the weekend by Amnesty International, reiterating its commitment to swift response to oil spill incidents as much as access and security conditions permit teams to mobilise and …

By Donald Ugwu The African Development Bank (AfDB) on Friday said it would invest 711.5 million dollars in some projects in Nigeria including power supply. Mr Amadou Hott, the bank’s Vice President for Power, Energy, Climate Change and Green Growth Complex, made the pledge when he led a delegation of …

Oil prices jumped on Friday, with Brent crude futures hitting their highest in more than two weeks as U.S. stock prices rose. Investors covered short bets ahead of a weekend in which the U.S. news programme  “60 Minutes” will air an interview with Saudi Arabia’s crown prince. Brent futures rose …

Days after he announced the intention of the Federal Government to establish a National Food Security Council, President Muhammadu Buhari has approved the constitution of the Council’s membership. The Council, to be chaired by the President, will, according to a statement by Garba Shehu, Senior Special Assistant to the President (Media …

Nigeria LNG (NLNG) Limited, sponsors of The Nigeria Prize for Literature and The Nigeria Prize for Science,has published the Call for Entries for the 2018 edition of the prizes. A statement by Tony Okonedo, Manager, Corporate Communications and Public Affairs, said that the focus for the literature prize in 2018 …

By Uchenna Eletuo  The House Committee on Maritime has berated the Nigeria Maritime Administration and Safety Administration (NIMASA) for poor performance in the execution of capital projects. The Chairman of the Committee, Mohammed Umar-Bago, who led his committee members on an Oversight of NIMASA on Wednesday in Lagos, said that …