Business

Customs releases impounded trucks after CGC’s intervention at bonded terminal

Customs releases impounded trucks after CGC’s intervention at bonded terminal

By Godwin Oritse The Nigeria Customs Service (NCS) has released 36 trucks belonging to members of the Association of Maritime Truck Owners (AMATO) that were impounded during an investigation into alleged trade infractions at Zarmmak Bonded Terminal in the Amuwo Odofin area of Lagos. The trucks were detained by Customs Police attached to the Zone ‘A’ […]
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Building national capacity in Nigeria

Building national capacity in Nigeria

NIGERIA has seen significant growth in reserves and production capacity over the years and the Government should be very proud of what has been accomplished. For its part, ExxonMobil’s upstream affiliates in Nigeria, MPN and EEPNL have been able to play a significant role in the realisation of Nigeria’s national growth targets. We have achieved this while, at the same time, building Nigerian capacity and skills.

Oando Plc targets $1.34b capital boost

Oando Plc targets $1.34b capital boost

SHAREHOLDERS of Oando Plc have unanimously endorsed the management’s proposed plans to raise N200 billion (approximately $1.34 billion) additional capital to strengthen the company’s capital base and support continued business growth.

NNPC signs agreement with NAOC on gas development

NNPC signs agreement with NAOC on gas development

The NNPC on Friday in Abuja signed a modified carry agreement with Nigeria Agip Oil Company (NAOC) to finance “Train 4’’ and “Train 5″ of the Nigerian Liquefied Natural Gas (NLNG) project.The project, which is expected to cost 473.3 million U.S. dollars (about N71 billion), would guarantee gas supply of 131 million metric standard cubic feet of gas per day to the LNG plant trains.

Smuggling, power failure threat to textile industry revival, Labour warns

Smuggling, power failure threat to textile industry revival, Labour warns

ORGANISED Labour in the nation’s textile industry, has warned that despite government efforts at raising the textile industry revival fund from N70 billion to N100 billion or even N500 billion, there cannot be real industrial revival if the issues of power and smuggling are not urgently addressed..

CBN appoints UBA as custodian of money market instruments

CBN appoints UBA as custodian of money market instruments

UBA Global Investor Services (GIS) the custodian arm of the United Bank for Africa (UBA) Plc, has been appointed by the Central Bank of Nigeria (CBN) as a custodian of money market and other fixed income securities.
According to a statement by the bank, “ This appointment by the financial regulatory institution, is sequel to a satisfactory due-diligence inspection and other processes on the UBA Global Investor Services.”

Gold Fields Q4 gold earnings fall but output rises

Gold Fields Q4 gold earnings fall but output rises

Gold Fields, the world’s fourth-biggest gold producer, said on Friday output of the metal rose 4 percent in the fourth quarter while costs fell, but it posted lower earnings due to a stronger rand.South African gold miners sell their gold in dollars, and pay their costs in rand, which gained in the June quarter on increasing global demand for risk and expected capital inflows.

Re-branding : Expert faults Akunyili, seek leadership reorientation

Re-branding : Expert faults Akunyili, seek leadership reorientation

An Advertising and media practitioner, Sir Steve Omojafor, has faulted the recent re-branding exercise by the Minister of Information, Professor (Mrs.) Dora Akunyili, calling on her, to instead, focus on reorientating the country’s leadership, making them responsive to the needs of the citizens.

Lagos Chamber canvasses resource ownership by host communities

Lagos Chamber canvasses resource ownership by host communities

The Lagos Chamber of Commerce and Industry (LCCI) has suggested that each state of the Federation should be given a sense of ownership of resources in its domain. The President of LCCI, Chief Solomon Onafowokan, said at the LCCI quarterly press briefing on Thursday in Lagos that host communities should be allowed a stake in such resources.

Reality show : Nigeria is Talented debuts

Reality show : Nigeria is Talented debuts

Come December 2009, the reality Television scene will be agog with SoulBase Network, organizer of “Nigeria is Talented,” a multi_talent entertainment series will showcase talents from different fields.

CPC, NESREA others set up joint task force on piracy

CPC, NESREA others set up joint task force on piracy

The Consumer Protection Council (CPC), Standards Organisation of Nigeria (SON), and National Environmental Standards and Regulations Enforcement Agency (NESREA) in collaboration with the Alaba International Market Amalgamated Traders Association (AIMATA) have set up a joint task force to curb the rising profile of counterfeiting and piracy in the market.

Re-branding : NIMN calls for reconstructive approach

Re-branding : NIMN calls for reconstructive approach

National Institute of Marketing of Nigeria (NIMN) has advised the federal government to take the re- branding Nigeria project to a more fundamental and reconstructive level that will yield long term outcome of Nigerians that mean much more to Nigeria.