Brazilian state-controlled oil company Petróleo Brasileiro SA is close to agreeing the sale of its stake in an African venture for around $1.3 billion, newspaper Valor Econômico said on Tuesday. Petrobras, as the company is known, owns 50 percent of Petrobras Oil & Gas BV, or Petrobras Africa. Grupo BTG Pactual SA holds a 40 […]
Author: Isaac Umunna
Ford is saying goodbye to cars and hello to batteries
Ford made waves recently when it announced it would stop producing cars (except for the iconic Mustang) — in favor of SUVs, trucks and other large vehicles — for the United States. It wasn’t a big surprise and if anything it was expected since SUV and truck sales are growing while car sales plummet. But […]
NIMASA Moves For Special Interest Rate For Maritime Asset Acquisition
By Foster Obi The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr Dakuku Peterside said the Agency is engaging the Central Bank of Nigeria (CBN) to create a special interest rate for maritime assets acquisition in Nigeria adding that NIMASA is committed to opening new frontiers for potential investors in the […]
Nissan admits faking exhaust emissions data in Japan
Nissan has admitted that it falsified exhaust emissions data on some of its cars made in Japan. The company said the falsifications took place at five of its plants in Japan and involved nearly two and half thousand vehicles. Nissan officials said workers at the factories falsified data on fuel-efficiency and exhaust emissions. Last year […]
Oil prices mixed on Canadian outage update, U.S. sanctions on Iran
Oil prices were mixed on Monday, with U.S. crude lower on news about the timeline for the end of a major Canadian production outage, while global benchmark Brent gained on looming sanctions on Iran and falling production in Libya. U.S. light crude futures were down 33 cents to $73.46 by 12:17 p.m. EDT (1617 GMT). […]
Nigeria Military Hands 180 Child Soldiers to UN, Government
Nigeria’s military command says it has handed to the government and the United Nations more than 180 former child soldiers who had been arrested or rescued in various military operations in Nigeria’s northeast. Commander Nicholas Rogers said Monday during the handover ceremony in Maiduguri that the children were former Boko Haram fighters being turned over […]
Nigerian woman’s body found at ‘cyber-crime gangster’s home’
The decomposing body of the daughter of a former deputy state governor in Nigeria has been found at the home of an alleged member of a cyber-crime gang. Police warned women not to date members of the gang following the discovery of the body of Khadijat Olubọyọ under the bed of her alleged lover in […]
Again, national grid collapse causes power outage
The Eko Electricity Distribution Company (EKEDC) has attributed the current power outage on its network to what it called system collapse of the National Grid. Mr Godwin Idemudia, the General Manager, Corporate Communications of the company, said on Monday that the outage which occurred about 2.27 p.m. on Sunday affected Ajah, Akangba and Agbara transmission […]
World’s largest mobile factory to be launched in India
Mobile phone history will be rewritten and this will take place in India! South Korea-based Samsung Electronics will be unveiling the world’s largest mobile plant in Noida, Uttar Pradesh. The launch will take place tomorrow in the presence of Prime Minister Narendra Modi and South Korean President Moon Jae-in who will be making his first […]
NCMDLCA Apapa Chairman Condemns Low Level of Business at Lagos Ports
By AsuquoNuwak Apapa chapter chairman, National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Comrade Emeka Enwelu has said that the low level of business activities experienced at Lagos Ports is as a result of various factors ranging from foreign exchange policy issues, system failure, poor port access roads, institutional failure, infrastructural failure, as […]