FG begins implementation of sugar master plan
The Federal Government has begun the implementation of the Backward Integration Policy in the sugar industry with the official signing of plans and projects by three major sugar refineries in the...
View ArticleOil thieves spill 500 barrels in Adibawa – Shell
The Shell Petroleum Development Company of Nigeria has raised the alarm over the rising oil theft-related spills at the Adibawa field. The Nigerian subsidiary of Royal Dutch Shell said on Tuesday in a...
View ArticleEmerging stocks set for biggest loss
Emerging-market stocks were set for the biggest slump in two weeks and currencies sank on concern the global economy will falter as growth in Chinese services industries slowed and oil topped $100 a...
View ArticleRainoil boosts petrol distribution with vessel investment
An indigenous petroleum product marketer, Rainoil Limited, has given petroleum distribution to the south-south, south-east, the Federal Capital Territory and northern states a fillip with investment...
View ArticleFG promises 18-hour daily power supply by 2014
The Federal Government has assured Nigerians that they will start enjoying power supply for 18 hours as from 2014. The Minister of State for Power, Alhaja Ibrahim Kuchi, stated this while speaking...
View ArticleExpert flays oil sector’s $680bn loss to corruption
The Chief Executive Officer, BOk Development Limited, Mr. Adekunle Disu, has condemned the loss of $680bn annually to corruption in the oil and gas sector due to sharp practices. Disu, who described...
View ArticleIndices close lower as 28 stocks lose
The equities section of the Nigerian Stock Exchange closed on a negative note on Wednesday, as major market indicators closed lower. The NSE All-Share Index depreciated by 0.26 per cent to close at...
View ArticleGE, USADF announce $2m for Power Africa Challenge
GE Africa and the United States African Development Foundation will team up for the Power Africa Challenge, an off-grid energy initiative aimed at boosting power supply to previously under-served...
View ArticleExxonMobil, IPEA partner on environmental awareness
The Ibom Programme on Environmental Awareness, an initiative of the Akwa Ibom State Ministry of Environment & Mineral Resources in partnership with ExxonMobil, has held a training workshop for...
View ArticleTheft, vandalism lowered Q1 oil industry GDP —NBS
Expectedly, crude oil and natural gas contributions to the country’s Gross Domestic Products dropped in the first quarter of the year compared to the contribution in the first quarter of 2012 due to...
View ArticleGroup raises the alarm over Shell’s pipeline
THE National Coalition on Gas Flaring and Oil Spills in the Niger Delta has called for the urgent review of the Trans Niger Pipeline, belonging to Shell Petroleum Development Company in Ogoniland. The...
View ArticleNEITI lauds judgment ordering Mobil to pay $83.4m tax
The Nigeria Extractive Industries Transparency Initiative on Sunday praised the recent judgment by the Tax Appeal Tribunal ordering Mobil to pay $83.4m as tax to the Federal Inland Revenue Service. The...
View ArticleOduah seeks $500m for national carrier, meets Sanusi …FG may partner Irish...
In a desperate move to establish a national carrier for the country this year, the Minister of Aviation, Ms. Stella Oduah, and other officials from the aviation sector met with the Governor of the...
View ArticleRMAFC woos states, LGs for new revenue formula
The Revenue Mobilisation, Allocation and Fiscal Commission will on Thursday (today) begin a two-week grass-roots programme aimed at mobilising the opinion of state and local governments across the...
View ArticleReps write CBN on fake ATM currency notes …seek review of envelope budgeting...
The House of Representatives said on Wednesday that it had written to the Central Bank of Nigeria to explain the source of fake currency naira notes being dispensed by Automated Teller Machines of some...
View ArticleBusiness confidence in Nigeria has improved —LCCI
The level of confidence in running a business in Nigeria improved going into the third quarter of the year, the Lagos Chamber of Commerce and Industry has said. The LCCI, in a report made available to...
View ArticleNEPZA targets $15bn investment in five years
The Nigeria Export Processing Zones Authority on Wednesday said it had attracted about $9.4bn (N1.5tn) worth of investment to the country through the operation of free trade zones and was targeting...
View ArticleBoI seals pact with ministry on fish parks
The Bank of Industry has signed a Memorandum of Understanding with the Ministry of Niger Delta Affairs for the establishment of Fish Industrial Parks in the Niger Delta region. The agreement was signed...
View ArticleExternal reserves drop to $47bn
The nation’s external reserves have dropped to $47bn, after being stagnant at $48bn for over three months. Data obtained from the Central Bank of Nigeria’s website on Wednesday showed that the reserves...
View ArticleAccess Bank to focus on retail business
Access Bank Plc has announced that it plans to shifts its focus to retail banking in the next few months. According to the bank, retail banking activities will account for about 50 per cent of its...
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