The presidential candidate of the Peoples Democratic Party (PDP), Mr. Peter Obi, has said that what Nigeria needed now was a team with a firm understanding of global economic realities to plan the re-engineering of the country along those realities. Obi, who was speaking yesterday at Isuofia in the House of Chief Ozomma Uba during […]
Author: Isaac Umunna
CBN to sanction banks for infractions on consumer complaints
The Central Bank of Nigeria has urged the banks to adhere to its orders on customer complaints resolution or be ready to face sanctions. In a circular on ‘Deployment of the Consumer Complaints Management System’ on Friday, which was signed by a Director of the CBN, Kofo Salam-Alada, and released to the lending institutions, it […]
NLNG Train 7 Project Threatened as Shareholders Shelve Investment Decision
There are strong indications that the Nigeria Liquefied Natural Gas (NLNG) Limited’s expansion project may experience further setbacks as shareholders failed to take a Final Investment Decision (FID) on the much publicised $12 billion Train 7 project earlier scheduled for this month without giving a new timeline within which the project would be actualised. The […]
NIMC says 300,000 National ID cards ready for collection
The National Identity Management Commission (NIMC) has said that over 300,000 national identity cards for those who enrolled in 2012 are ready for collection. NIMC Spokesman, Loveday Ogbonna, urged enrollees in the year 2012, up to August 2013 and who were yet to pick up their cards, to do so immediately. Ogbonna said that those […]
GlobalData: Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa over next seven years
Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData. The company’s report: ‘H2 2018 Production and Capital Expenditure Outlook for Key Planned Upstream Projects in Sub-Saharan Africa – Royal Dutch Shell Dominates […]
Vandalism, poor funding, cause of Nigeria’s worst crude oil loss in 18 yrs – NEITI
Nigeria recorded the highest crude oil loss in the last 18 years with an average of 245 million barrels of oil going down the drain in 2016. Oil pipeline Statistics from the latest audit report of the Nigeria Extractive Industries Transparency Initiative, NEITI, revealed that the huge loss was occasioned by several factors, including pipeline […]
Oil price drops to $48, $12 below 2019 budget benchmark
The price of crude oil, yesterday, dropped from $50 to $48 in the international market, showing $12 below Nigeria’s $60 per barrel 2019 budget reference price. Specifically, the price of Brent, West Texas Intermediate, WTI and the Organisation of Petroleum Exporting Countries, OPEC, basket of 15 crudes stood at $48.00, $43.38 and $47.92 per barrel […]
NPA to Sustain Improved Operational Efficiency, Pledges Future Gains
By Foster Obi Managing Director of Nigerian Ports Authority Hadiza Bala Usman has assured stakeholders in the Maritime Sub-Sector of Management’s renewed vigour and determination at improving on its operational efficiency and accomplishments recorded especially in the New Year. A statement signed by Adams .A. Jatto, General Manager, Corporate and Strategic Communications, said “Therefore, the […]
Arsenal boss Emery charged by English FA with kicking water bottle
Arsenal manager Unai Emery has been charged with improper conduct by the English Football Association after kicking a water bottle into the crowd during the 1-1 Premier League draw at Brighton on Boxing Day.A Football Association spokesman said Thursday: “Arsenal manager Unai Emery has been charged following the game against Brighton yesterday (26 December 2018). […]