Nigeria is expected to save about $120 million or ₦37.75 billion in demurrage annually, following Oando Plc’s construction of first mid-stream jetty in the country. The novel infrastructure, which is the downstream sector’s first in decades, will provide a more efficient platform for product receipt to all marketers currently using the Major Marketers Association of […]
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Germany’s Allianz plans to pay $35 million for 98 percent stake in Nigerian insurer, Ensure Insurance in a push for growth in Africa, where many people are uninsured. Foreign insurers are banking on growing premiums as the continent develops its infrastructure and a consumer class demands protection from risk. Allianz said that it would acquire […]
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The Cement Company of Northern Nigeria (CCNN), trading on brand name of Sokoto Cement, has begun disbursement of ₦5 million annual scholarship bursaries to 50 students as part of its corporate social responsibilities. Presenting the award letters to beneficiaries on Wednesday, the Managing Director of CCNN, Alhaji Ibrahim Aminu, said the gesture was to complement […]
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The high profile cement producers within the country are aggressively funding new projects in a bid to raise their installed production capacity by an additional 22.5 million metric tons (mmt) per annum. Correspondence investigation revealed that the expansion, by Dangote Cement Plc, Lafarge Africa Plc and BUA Group, will bring their aggregate total capacity to […]
Read More For the first time since the retirement of the space shuttle in 2011, NASA says it may soon have the capability to send astronauts to the International Space Station from U.S. soil. Critical milestones are on the horizon for Boeing and SpaceX, the space agency’s commercial crew partners: Flight tests of their spacecraft, including crewed […]
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Deputy General Manager, Sales and Marketing, CWay Group, Mr. Moses Wang, has said the company is expanding its production capacity to meet the increasing demand for its products. Wang disclosed this at the 10th anniversary of the company in Lagos, where he stated that the company is doing everything to increase its production capacity as […]
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Fifty five management staff of the Nigerian National Petroleum Corporation, were affected today in a massive reshuffle ordered by Group managing director, Dr. Maikanti Baru, according to News Agency of Nigeria reports Baru, told NNPC staff shortly before the announcement was made public that the new appointments would not only help to position the Corporation […]
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Nipco Plc has bought another 3.23 percent stake in 11 Plc, the fuel retailer formerly known as Mobil Oil Nigeria, for ₦4.84 billion ($16 million) to increase its holding to 70 percent. Nipco’s investment subsidiary in October bought 60 percent of Mobil Oil Nigeria from Exxon Mobil Corp., when the U.S. giant pulled out of […]
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Chevron Nigeria Limited (CNL), the operator of the NNPC/CNL Joint Venture has completed a 12-month on-the-job-training of seven Nigerian graduates at CNL’s office and field locations. The training was part of CNL’s efforts to assist with building organizational capability in the oil and gas industry. This is the second batch of trainees that have gone […]
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In a bid to foster professionalism and position its people to better compete with their counterparts globally, pay TV company, StarTimes Nigeria have introduced a new policy that covers 75% of the cost, to encourage all staff seeking professional development locally or internationally. This is contained in a statement signed by the Chief Operating Officer […]
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A Federal High Court sitting in Port Harcourt, Rivers State, has ordered the arrest and detention of three crude oil drilling rigs belonging to Oando Energy Services Limited (also known as OES Energy Services Limited) over debts of $15,399,524.84 (equivalent of ₦4.7 billion) and ₦14,169,164.80. The arrest and detention order for the three drilling rigs […]
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In move for self-sufficiency in sugar production through government’s backward integration policy, the Group, yesterday in Minna, Niger State, signed a Memorandum of Understanding (MoU) with the state government for the establishment of a jumbo $450 million state-of-art and fully integrated sugar complex. On completion, according to the President of the group, Aliko Dangote, the […]
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