Nigeria’s president has ordered the government to reduce all shares in joint venture oil assets to 40 percent in the 2019 fiscal year, according to budget documents released on Tuesday. State oil company NNPC owns a 55 percent stake in its joint venture with Royal Dutch Shell and 60 percent stakes in others. Other oil […]
Oil prices rose more than 1% on Monday, supported by Middle East tensions and OPEC-led supply cuts as well as continued crude disruptions from Russia after a contamination problem discovered last month. Output reductions – both voluntary by the Organization of the Petroleum Exporting Countries (OPEC) and allies, plus those resulting from U.S. sanctions – […]
The National Youth Service Corps (NYSC), says it will sanction institutions involved in fraudulent mobilisation of unqualified graduates. Shuaibu Ibrahim, director-general of NYSC, said the action would serve as a deterrent to other tertiary institutions in the country. He made this known on Monday while speaking at a workshop organised for data entry officers from […]
The federal government on Monday redeemed its pledge to provide a house for Clemence Westerhof, the Technical Adviser that led the Super Eagles to victory in the 1994 African Nations Cup competition. Babatunde Fashola, the Minister of Power, Works and Housing, who presented the house documents to Westerhof in Abuja, said the promise was made […]
Airtel Africa Ltd, a subsidiary of India’s Bharti Airtel Ltd, said on Tuesday it was considering a stock market flotation in London to reduce existing debt. The telecom operator last year raised $1.25 billion from six global investors including SoftBank Group Corp, Warburg Pincus LLC and Temasek Holdings (Private) Ltd, valuing the company at $4.4 […]
The Federal Road Safety Corps (FRSC) has warned motorists to desist from carrying children in front seats or on their laps while driving. The FRSC Sector Commander in Enugu State, Ogbonnaya Kalu, gave the advice during the National Road Safety Club Day held on Monday in Enugu. Mr Kalu said that the Road Safety Club […]
By Foster Obi One of Nigeria’s leading Electricity Distribution Companies, Ikeja Electric Plc (IE) has reiterated the commitment of the company to the safety of its staff across its network area. Mr. Felix Ofulue, the Head of Corporate Communications gave the assurance in a statement in Lagos. He said the company was aware of the […]
Oil steadied on Monday, trading below $69 a barrel, as concern over the U.S.-China trade dispute and global economic outlook offset support from Middle East tensions and supply cuts. Figures on Monday showed that profits for Chinese industrial companies shrank in April while new orders for U.S.-made capital goods fell more than expected in a […]
The National Agency for the Prohibition of Trafficking in Persons, NAPTIP, is seeking an agreement between Nigeria and neighbouring West African countries to end the practice of Nigerian girls being used as sex slaves in Mali. Some Nigerian girls working as prostitutes in Mali Lagos Island Rotary Club distributes free sanitary napkins to Lagos School […]
The Academic Staff Union of Universities (ASUU) has called on well-meaning Nigerians to caution the federal government to honour its agreement with the union to forestall further industrial crisis in the nation’s tertiary education sector. The union’s President, Biodun Ogunyemi, made the call in an interview with the News Agency of Nigeria (NAN) on Sunday […]