The leadership crisis rocking the Nigeria Labour Congress (NLC) yesterday manifested itself as the Joe Ajaero faction insisted that it would not join the Comrade Ayuba Wabba-led NLC to embark on the strike planned for tomorrow. Also, the federal government has insisted that there is no option to the increment of the pump price […]
Oil prices hit six-month highs on Monday on worries about supply outages in Nigeria and Venezuela and as long-time bear Goldman Sachs sounded more positive on the market, although a stockpile build at the US storage hub for crude futures pared gains. Crude futures have rallied for most of the past two weeks from […]
Minister of State for Petroleum Resources, Dr Ibe Kachikwu, on Monday said Nigeria’s crude oil production had declined from 2.2 million barrels per day to 1.4 million barrels per day due to pipeline vandalism. This, he said, translated to loss of 800,000 barrels of oil by the country daily. The minister made this known at […]
The Managing Director/CEO of Fidelity Bank, Mr. Nnamdi Okonkwo, has returned to his position after satisfactorily answering the questions of the Economic and Financial Crimes Commission (EFCC). Okonkwo and some other officials of the bank had been recently invited the anti-graft body to answer question bordering on the alleged lodgement of $115 million (N23 billion) […]
Nigeria’s first Islamic banking institution, Jaiz Bank, has been granted license to operate as a national bank. Chairman of the board of directors of the bank, Alhaji Umaru Abdul-Muttalab, who spoke at a meeting in Abuja, said that the bank plans to spread its branches across the 36 states of the federation and the Federal […]
South Korean auto giant, Hyundai Motor co has secured the services of luxury marquee’s exterior designer, Sangyup Lee. This is coming after poaching Bently’s design chief last year, says a Reuters report. According to the report, Hyundai issued a statement saying Sangyup Lee will start work next month as its head of design. Lee […]
Nigeria’s President Muhammadu Buhari needs to address grievances in the Delta region where militants have been blowing up oil pipelines in a conflict that has become a “major concern,” a senior British official said on Saturday. The swamps of the southern Delta have been hit by a series of attacks on pipelines and other oil […]
Following last Wednesday’s partial deregulation of the downstream sector of Petroleum industry by the Federal Government with an increase in pump price of petrol from N86.50 to N145, the organised labour and their civil society allies have resolved to lead Nigerian workers on strike after Wednesday, May 18. It was gathered that labour leaders […]
The Federal Government says that the new price regime for the downstream petroleum sector is comprehensively designed to tackle the hardship faced by Nigerians and create additional 200,000 jobs in the country. The information is contained in a bulletin issued by the Ministry of Petroleum Resources in Abuja on Friday. It said that the […]
Now may not be a good time to live in America, especially those who do not have legal permit to do so, a Reuters report has stated. The report states that U.S. immigration officials are planning a month-long series of raids in May and June to deport hundreds of Central American mothers and children […]