There are indications that many international oil companies operating in Nigeria are frustrating government efforts at achieving local content in the oil and gas industry.Read More →
The Minister of Aviation, Mr. Osita Chidoka has expressed displeasure over the dilapidated state and environmental threat posed by the abandoned underground facilities at the Murtala Mohammed International Airport, MMIA, Lagos.Read More →
Lagos State government has initiated moves to regulate estate agency fees in the state which it claims ranks highest when compared with other countries.
To this end, a stakeholders’ meeting was recently convened at the instance of the Lagos State Real Estate Transaction Department (LASRETRAD) to deliberate on “Real Estate Agency Fees in Lagos”. In attendance were various associations of estate agents, legal practitioners and developers, among others, operating in the state.
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) arm of the Organised Private Sector (OPS) has called for the adoption of Nigeria’s “Naira” as the single currency for ECOWAS sub region.Read More →
The Board of the International Financial Reporting Standards (IFRS) has officially classified Nigeria as an IFRS country.
This classification follows the successful implementation of the first two phases of the National Road Map for the Adoption of IFRS in Nigeria.
Nigeria’s first lady, Mrs. Patience Jonathan has disclosed that the Agricultural Transformation Agenda of the government is re- repositioning both the marine and the fisheries sectors to boost the economyRead More →
The Bank of industry (BoI) has assured industrialists in the country funding supports if they purchase equipment fabricated by the Federal Institute of Industrial Research, Oshodi (FIIRO)Read More →
Dangote Cement Plc is warming up to expand its cement production plants beyond the continent of Africa to the Middle East and Latin American countries.
The company is optimistic that the planned investment will propel it to be ranked among the top ten global cement manufacturers and also earn Nigeria foreign exchange.
THE Federal Government has suspended all rail projects in Maiduguri following the activities of Boko Haram insurgents. Transport minister, Senator Umar disclosed during a courtesy call by the body of Permanent Secretaries led by the Head of Service, Alhaji Bukar Goni Aji to his office in Abuja.Read More →
The Managing Director, Vessa Fisheries, Lagos, Mrs. Vero Igbe, has commended the new Federal Government policy on fisheries that ensures that all supplies are in tandem with specific quota assigned to individual firms.Read More →
THE Area Comptroller of Seme Command of the Nigeria Customs Service, Comptroller Willy Egbudin, has said that the global travelling and trading system if left unchecked, could seriously affect nations and the global economyRead More →
PRESIDENT Goodluck Jonathan, Tuesday, said his administration has approved N25 billion for the dredging of River Benue.Read More →
THE National Association of Government Approved Freight Forwarders, NAGAFF, has slammed the Federal Ministry of Finance for deliberate underfunding of the Nigeria Customs Service, NCS, even as it called for partial autonomy of the Service to enable it meet it responsibilities.Read More →
Intercontinental Distilleries Limited, IDL, has expanded its distributors’ businesses with over N200 million.
The company said the amount it gave as reward to the distributors in the 2013/14 trade partners award ceremony is the only way to help expand the distributors businesses, and eventually help employ more hands, thus reducing unemployment in the process.
The Central Bank of Nigeria (CBN) said that Automated Teller Machines (ATM) withdrawals would attract N65 per transaction to cover remuneration for the switches from Sept. 1Read More →
The Federal Government has secured over N44 billion funding support from the World Bank and the UK Department for International Development (DFID) to create 460,000 jobs across eight sectors of the economy under the Growth and Employment (GEM) project over the next six years (2013-2018).Read More →
In its support to create employment and boost the financial inclusion initiative of the Central Bank of Nigeria, CBN in the country, the Chartered Institute of Stockbrokers, CIS said it is targeting one million students to drive financial products by 2015.Read More →
The British Navy and its Nigerian counterpart will build a synergy through information and experience sharing in order to strengthen their capacity to deal with insecurity and illegal activities within Nigeria, the West African coast and across the Gulf of Guinea.Read More →
BlackBerry Z30 smartphone has been named the gold winner in the Consumer Product of the Year category in Best in Biz Awards 2014 International, the only independent business awards program judged by members of the press and industry analysts.Read More →
NINE years ago when graduates would jump at whatever job came their way, Adebimpe Adeyi was too glad to resign her highly-paid employment to pursue her dream. Even her employer’s ploy to sway her with a transfer to the UK wasn’t tenable enough to convince Adebimpe.Read More →
The Federal Government will soon order telecom companies in the country to effect a nationwide switch-off of over 12.6 million counterfeit phones from networks by using the International Mobile Equipment Identity (IMEI) number.Read More →
Director-General, Debt Management Office (DMO), on Sunday said the organisation would continue to support state governments to build the skills of debt management officers. Nwankwo made the disclosure in Abuja. He said the DMO would be helping the states to build up their debt data on quarterly basis to ensure efficiency in debt management.Read More →
Nigeria lost $198.775 million, about N31.8 billion, in one month to gas flaring, as companies in the oil and gas sector flared 50.098 billion Standard Cubic Feet (SCF) of gas in February 2014.Read More →
The core investor of Ughelli Power Plc has invested N65 billion into the power plant, raising the capacity from 170 megawatts, MW to 420MW since the handover of the Power Holding Company of Nigeria, PHCN, assets to successor companies in November 2013.Read More →
Why has Nigeria, with 179 trillion cubic feet of proven gas reserves not developed its gas sector since feedstock industries such as fertiliser could drive the economy?Read More →
Barring unforeseen developments, the Federal Government has concluded arrangements to inaugurate a National Council of Power, NCOP, this week, in Abuja.Read More →
ABUJA- THE Ministry of Mines and Steel Development at the weekend revealed that it had revoked 600 mining licences for non-compliance with the relevant laws guiding mining operations in the country.Read More →
The new cement regulation policy recently introduced by the Standards Organisation of Nigeria (SON) has been described as ill-advised and a selective move calculated at creating an environment detrimental to the survival of cement manufacturers in NigeriaRead More →
Nigeria, India and Norway, recorded the largest volumetric decline in gas production, the Statistical Review of World Energy 2014, has revealed, amid global production growth of 1.1percent, well below the 10-year average of 2.5 percent.Read More →
The Director General, Lagos Chamber of Commerce and Industry (LCCI), Mr. Mudashiru Yusuf, has said that the economy is currently dominated by buying and selling because the risk of failure in the manufacturing sector in Nigeria is high. This he attributed to dearth of infrastructure and a hostile operating environmentRead More →
The fact that foreign investors account for large chunk of transactions in the Nigerian capital market in spite of the persistent insecurity in the North-Eastern part of the country has been described as good indication for the progress of the market by the regulators and confidence in the market by foreign investors.Read More →
One of the messages brought by the TOTAL Group to the just concluded conference and exhibition of the Society for Petroleum Engineers, SPE, is the need to enhance pipelines integrity through a robust repairs system.Read More →