The Transition Company of Nigeria (TCN), on Friday said that it had recovered more than 693 containers of power equipment abandoned at ports for about 15 years due to tariff. The Managing Director (MD) of TCN, Mr Usman Mohammed, said this in a statement in Lagos. Mohammed said that some of the power equipment had […]
The Nigerian constitution is designed to collect and share oil rent and has little or no incentive for the growth of a productive economy, Charles Soludo, a former governor of the Central Bank of Nigeria has said. Mr Soludo made this known in an essay titled: “The Political Economy of Restructuring the Nigerian Federation”, which […]
Integrated oil majors are relishing the oil price recovery, posting sharply higher earnings and healthier balance sheets after emerging leaner from the downturn. But they also face a dilemma on when and how to invest for future upstream growth. Brent crude averaged almost $75/b in the second quarter, nearly 50% higher than year-ago levels and […]
Fertiliser maker Notore Chemical Industries has achieved a 100.75 billion naira ($330 million) valuation by listing on the Nigerian Stock Exchange, with a free float of 16 percent. Notore, which produces fertiliser for sale within Nigeria and for export to West Africa, Southern Africa and Europe, said it had listed 1.61 billion ordinary shares at […]
Mr Victor Muruako, the Acting Chairman, Fiscal Responsibility Commission (FRC), says over N1.4 trillion has accrued into the Consolidated Revenue Fund (CRF) of the Federal Government between 2007 and 2017. He disclosed this on Thursday in Abuja at a technical workshop on the implementation of the operating surplus template for scheduled corporations under the Fiscal […]
A total of 1,307 vehicles were involved in road traffic accidents across the country in May, according to the Federal Road Safety Corps (FRSC). The Corps said in its report of road traffic accidents for the month which was made available to the News Agency of Nigeria (NAN) in Abuja on Thursday that cars came […]
The Central Bank of Nigeria (CBN) says it is developing a Risk Based Cyber Security Framework for banks and payment service providers to combat internet fraud in the country. The Central Bank Governor, Mr Godwin Emefiele, said this on Thursday in Abuja at the 2018 Nigeria-JP Morgan Chase Cyber Security Conference. Emefiele, who was represented […]
Foster Obi Three suspected vandals, Kabiru Musa, 20; Abubakar Mohammed Umar, 25 and Rayyali Ibrahim 23, have been remanded in Kirikiri Prisons Lagos for damaging and stealing armored cables from a transformer belonging to Ikeja Electric Plc, at NEPA Coop Estate in Ijede, Ikorodu. The trio was arraigned at Agbowa Magistrate Court in Ikorodu following […]
The start of the African track and field championships in Nigeria was delayed Wednesday after hundreds of athletes were stranded at an airport, some for three days when they were left to sleep on the floor as they waited for a connecting flight to the host city. Those who did get on a plane from […]
Meanwhile, the NNPC, SNEPCo, ExxonMobil, Total and the other partners will take the FID on the development of the Bonga South West/Aparo (BSWA) deepwater project in 2019. The BSWA project includes the construction of a new Floating Production, Storage and Offloading (FPSO) unit with an expected peak production of 225,000 barrels of oil per day. […]