Another two-storey building collapsed at Ojuelegba area of Lagos on Thursday evening, 12 days after the collapse of a three-storey building at Magodo Phase 1 in the state. A correspondent of the News Agency of Nigeria who visited the scene at No 7, Rufai Street, Ojuelegba, said no life was lost in the incident which […]
Month: October 2019
Lekki Port Signs US$629m Facility Agreements with China Development Bank
By Foster Obi Lekki Port LFTZ Enterprise Limited (LPLEL), a special purpose vehicle for the construction of Lekki Deep Sea Port at the Lagos Free Trade Zone, has announced the signing of a US$629 million facility agreements with the China Development Bank (CDB) for the construction of the port which is to be Sub-Saharan Africa’s […]
Banks’ full time staff decreases as contract workers take over
The number of full-time workers in the banking industry has been on the decline as contract employees have doubled in the past two years, rising from 20,237 to 46,235, investigation has revealed. Figures obtained on Wednesday showed that the number of contract workers in the industry rose from 20,237 in the first quarter of 2017 […]
Nigeria moves up on World Bank’s Ease of Doing Business ranking
Nigeria is now ranked 131 globally on the World Bank’s Ease of Doing Business ranking, moving up by 15 places from its 2019 spot. The Bretton Wood institution released the report in the early hours of Thursday. A comparison of business regulation in 190 countries across the world formed the basis of the ranking. “Nigeria […]
Oil slips below $61 as weak demand outlook create concerns
Oil slipped below 61 dollars a barrel on Thursday as concern over the demand outlook offset a surprise drop in U.S. crude inventories and the prospect of further action by OPEC and its allies to support the market. In the latest sign of economic weakness that has prompted lower oil demand projections, employment in Germany’s […]
Nigeria drops by one spot in FIFA Ranking
Nigeria’s Super Eagles have dropped by one spot in the FIFA World Ranking for the month of October to now place as world 35th country. Super Eagles Super Eagles of Nigeria In the ranking table from the world football governing body, FIFA on Thursday, Nigeria garnered 1,481 points as against 1482 recorded in September. However, […]
Lagos to get international airport in April 2020 —FG
The Federal Government on Wednesday in Abuja pledged to ensure the delivery of a new international airport in Lagos before Easter celebration next year.The government also promised to deliver a new airport in Kano in December this year as had earlier been done in Abuja and Port Harcourt. The Minister of Aviation, Hadi Sirika, stated […]
Recruitment: Police Service Commission staff protest against IGP
Some staff members of the Police Service Commission (PSC), on Wednesday, staged a protest at the Federal High Court, Abuja, over the alleged recruitment of 10, 000 officers by the Inspector General (IGP) of Police, Mohammed Adamu. The protesters, under the umbrella of the Nigerian Civil Service Union, PSC Chapter, carried placards with various inscriptions […]
OPEC Forced To Consider Production Cuts as Bearish Pressure Mounts
OPEC will consider at its December meeting instituting even deeper production cuts, OPEC sources told Reuters today, even though not everyone in the group is complying with the existing production cuts. The “everyone” refers to Iraq and Nigeria, which are notorious over producers compared to what has been assigned to them under the current production […]
FG shifts Enugu airport repairs completion date to April 2020
The Federal Government has extended the date for the completion of the repair work on the Akanu Ibiam International Airport, Enugu State, from December 2019 to April 2020. The Minister of Aviation, Senator Hadi Sirika, made this known in Abuja on Tuesday when he appeared before the House of Representatives Committee on Aviation to defend […]