Nigeria’s decades-old program to boost wheat production and reduce imports worth more than $4 billion a year has faltered with farmers cutting output because of soaring input costs, leaving foreign suppliers to meet rising domestic demand, officials and farmers’ groups said. The latest harvest is coming in slowly and output will drop in the current […]
The Nigerian Electricity Regulatory Commission (NERC) has written to the Vice President, Prof. Yemi Osinbajo, to express its worries about the Gas Sales Agreement (GSA) the Niger Delta Power Holding Company (NDPHC) signed with a private gas firm, Accugas Limited for the supply of gas to its 562 megawatts (MW) Calabar power plant, and which […]
The Federal Executive Council (FEC) meeting presided over by Vice President Yemi Osinbajo has approved the dredging of the Warri- Escravos seaport for N13 billion. The Minister of Transportation, Mr Rotimi Amaechi, said after the meeting that the approval followed the presentation of the proposal early in the meeting by the Managing Director of the […]
A Nigerian man was arrested for alleged possession of $400,000 counterfeit bills, Nigeria’s anti-corruption agency said Tuesday. Samson Otuedon confessed he operated a syndicate that used fake dollar bills to scam unsuspecting clients, Wilson Uwujaren, a spokesman for the Nigeria’s Economic and Financial Crimes Commission (EFCC) said in a statement. An investigation was launched into […]
Nigeria’s bourse lifted a suspension on the trading of shares in oil company Oando on Wednesday, following a directive from the Securities and Exchange Commission (SEC), the stock exchange said. Trading on Oando shares had been frozen for six months on the Lagos stock exchanges after the regulator ordered the suspension to probe alleged insider […]
The Nigeria Labour Congress (NLC) said it has made a submission to the tripartite committee on a new minimum wage to reflect the current economic realities in the country. The General Secretary of the Nigeria Labour Congress (NLC), Dr. Peter Ozo-Eson who made this known at Abuja during an interview said the new demand was […]
* Shell’s payments to the Nigerian government grew to $4.32 billion in 2017, up nearly 19 percent from $3.64 billion in 2016, according to its annual sustainability report released on Monday. * The bulk of the payments, $3.197 billion, went to state oil company NNPC for production entitlement * Crude oil theft from pipelines of […]
The Economic Community of West African States (ECOWAS) says its rice offensive programme will make self-sufficiency in rice a reality in the sub-region by 2025. Mr Ernest Aubee, Principal Programme Officer and ECOWAS Head of Agriculture Division, made the disclosure in an interview with News Agency of Nigeria (NAN) in Abuja on Monday. Aubee said […]
By Foster Obi Nigerian National Petroleum Corporation (NNPC) said arrangements were underway for the historic groundbreaking of the 40in x 614km Ajaokuta/Kaduna/Kano (AKK) gas pipeline and stations. A statement by Ndu Ughamadu, NNPC spokesman said this followed last week’s successful execution of contract agreements for the engineering, procurement, construction, commissioning and financing for Lots 1 […]
Flying under the cover of darkness in mountainous, unfamiliar terrain was something the Army avoided in early deployments to Afghanistan where helicopters played a vital role in the fight. But all that changed with greatly improved night-vision capabilities, more training and better tactics, techniques and procedures. Now the Army prefers to operate in what used […]