Dr. Emmanuel Ibe Kachikwu, The Minister of State for Petroleum Resources, Two of Nigeria’s four refineries will restart production in the next two weeks A statement endorsed by Group General Manager, Group Public Affairs Division, Nigerian National Petroleum Corporation (NNPC), Mr. Ohi Alegbe yesterday explained that the minister said based on available reports, the refineries […]
Read More
The United Arab Emirate (UAE)-based telecoms operator, Etisalat is looking forward to raising a $2 billion loan as the telecommunications firm seeks funding amid a shift in Gulf loan markets. It joins a flurry of regional companies seeking to secure funding before a likely rise in United States (U.S.) interest rates pushes up borrowing rates, […]
Read More Out of the sixteen government agencies comprising ministries and parastatals in which the index performance benchmark test were carried out by the Fiscal Responsibility Commission, nine have failed the test. The nine MDAs listed out yesterday are, Federal Ministry of Lands and Housing, Transport, Health, Women Affairs, Science and Techonology ,Aviation, Finance, Water Resources and […]
Read More The Southwark Crown Court in London on Tuesday said the President Goodluck Jonathan-led government was culpable in the corruption scandal surrounding the sale of the Nigerian offshore oil block, Oil Prospecting Licence 245. The block, which is said to hold probable reserves of 9.23 billion barrels of oil, was sold to Shell and Eni for […]
Read More The Central Bank of Nigeria (CBN) has initiated a N213b Nigerian Electricity Market Stabilisation Facility (CBN-NEMSF), to boost electricity supply in the country. The steps by the Apex Bank was a follow-up to commitments they reached couple of months ago with other stakeholders to solve the energy crisis in the country, VanguardNgr report. Unveiling 62,021 […]
Read More The nation has lost 1,153.66 megawatts of power in the last 20 days, worsening the load shedding arrangement that electricity distribution companies have been subjecting their consumers to. The electricity generated on Sunday, December 13, stood at 3,730.24MW, down from a peak of 4,883.90MW achieved on November 23, according to data from the Federal Ministry […]
Read More The Minister of Transportation, Mr. Rotimi Amaechi, has asked for the records of all the contracts that have been awarded since the establishment of the Nigeria Maritime Administration and Safety Agency. He said this during a familiarisation tour of the agency, the Nigeria Ports Authority and the Nigeria Shippers’ Council in Lagos on Monday. Amaechi […]
Read More
The Central Bank of Nigeria will continue to support initiatives aimed at boosting risk management practice in the nation’s financial institutions, the Director, Risk Management, CBN, Mrs. Folakemi Fatogbe, has said. She said plan by the Risk Managers Association of Nigeria and the Chartered Institute of Bankers of Nigeria to set standard in risk management […]
Read More Nigerians were yesterday told to prepare for some tough decisions next year. Petrol subsidy will go to save cash for capital projects. This will likely push up price from N87 a litre to the former N97. “Price of refined products today is N87. It was N97 before it was reduced and we really have to […]
Read More
Officials of the Nigerian Communications Commission (NCC) and the Niger Delta Development Commission (NDDC) were yesterday barred from the House of Representatives ad hoc committee investigating alleged fraud in the remmitance of non-oil revenue. The officials of the two agencies were walked out due to the non-appearance of their chief executives. The NCC was represented […]
Read More President Muhammadu Buhari yesterday in Abuja said his administration will soon introduce more policies to further ease the process of doing business in Nigeria. Speaking after a presentation at the Presidential Villa on enhancing Nigeria’s trade and economic competitiveness, he said the new policies will be focused on increasing efficiency and transparency in government operations, […]
Read More
The suspension of restrictions on the importation of rice through the land borders by the Comptroller-General, Nigeria Customs Service (NCS), Col. Hameed Ali (rtd), has paid off. The service has raked in N1.178 billion from the 17,596 metric tonnes of the item imported through the borders between October and November, this year. Speaking at a […]
Read More
