The reconstruction of the runway of the Nnamdi Azikiwe International Airport, Abuja, has reached 57.5% completion, mid-way into the six weeks earmarked for the project, the Minister of State for Aviation, Senator Hadi Sirika, disclosed in Abuja on Thursday. “Work is going on smoothly as you can see. We have taken you round and everything […]
By Mayowa Okekale, Abuja Barring any last minute changes, the Senate Joint Committee on Petroleum (Upstream, Downstream and Gas), will on 24th April lay the final report of the Petroleum Industry Governance Bill (PIGB) before the Senate for consideration and approval. According to a schedule on the final stages of the Committee’s work, members of the Committee […]
The British Deputy High Commissioner to Nigeria, Laure Beaufils, has revealed that the Ogun State government attracted 75 percent of the Foreign Direct Investments (FDI), into Nigeria to the state. The British envoy stated this when she led a delegation from the Department for International Development (DFID), on a courtesy visit to the governor in […]
The Federal Ministry of Finance on Thursday announced details of members of the board and management of the newly licensed Development Bank of Nigeria (DBN). The Management team is led by Mr. Tony Okpanachi, a banker and erstwhile Deputy Managing Director/Deputy CEO, Ecobank Nigeria Limited. Before his appointment as Managing Director/ CEO of Development Bank […]
The Real Estate Developers Association of Nigeria (REDAN) has challenged surveyors on the proposed increment in the cost of preparing survey plans for land across the country. If the plan is implemented, land owners and investors will be paying as much as a million naira for a single plot of land, even in rural areas […]
MTN has made a payment of N30 billion ($98 million) to the Nigerian Government in part settlement of a N330 billion fine imposed on the telecoms group for not disconnecting unregistered SIM cards, an MTN source told Reuters on Thursday. Africa’s largest telecoms company has already paid 80 billion naira of the total amount owed, […]
The Central Bank of Nigeria (CBN) on Thursday informed market participants and the general public that it will commence twice weekly forex sales to Bureaux de Change (BDCs) from Monday, April 3, 2017. This, according to the bank’s Ag. Director, Corporate Communications, Isaac Okorafor, is “in continuation of its determination to sustain liquidity in the […]
The Nigerian economy is gradually reviving, President Muhammadu Buhari said on Thursday. He raised the hope while receiving the outgoing Ambassador of the Royal Embassy of Saudi Arabia, Fahad Bin Abdullah Sefyan, in a farewell audience at State House, Abuja. A statement issued by Special Adviser to the President (Media and Publicity) Femi Adesina quoted […]
Nigerian companies are playing key roles in the turnaround maintenance (TAM) at Bonga, as Shell Nigeria Exploration and Production Company (SNEPCo) executes statutory activities that will ensure continuous optimum operations at the deep-water field. Nearly all the bolts and nuts as well as fabrications used for the exercise are made in Nigeria, marking a turning […]
Barely 24 hours after its directive to Deposit Money Banks (DMBs) in the country to sell foreign exchange obtained from it to retail end-users at not more than N360/$1 for invisibles, the Central Bank of Nigeria (CBN), on Tuesday, March 28, 2017 crashed the rate at which it sells forex to Bureaux De Change (BDCs) […]