The BUA Group on Tuesday said it was no longer interested in the 50,000 hectares of land allocated to it in 2012 due its inaccessibility and unviability for business. “You can go ahead and revoke the Certificate of Occupancy Nos.KG.11713 as we are not interested,” BUA Group stated in...
BUSINESS
The Nigeria Liquefied Natural Gas (NLNG), has declared force majeure on products supplied from its production facilities on Bonny Island in Rivers. Mr Andy Odeh, NLNG’s General Manager, External Relations and Sustainable Development said this in a statement in Port Harcourt on Tuesday. The News Agency of Nigeria (NAN)...
The Liquified Petroleum Gas Retailers (LPGAR) says the shutting down of the Nigeria Liquefied and Natural Gas (NLNG) processing plant may lead to increase in cooking gas price. Mr Umudu Michael, National Chairman, LPGAR, branch of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), told the News Agency...
By OLA MUDOPE, Lagos – Ethiopian Airlines and Boeing [NYSE: BA] on Tuesday celebrated the 10th anniversary of the first 787 Dreamliner delivery to the African carrier. Over the past decade, Ethiopian airlines have utilized the outstanding capabilities of the 787 to sustainably grow its long-haul network across the...
First let me pay glowing tribute and commendation to the National President of PENGASSAN and his executives for organizing this event and their constructive roles in ensuring industrial peace and harmony in the Nigerian oil and gas industry, especially at a time when the industry is challenged by global...
Managing Director of Citadel Oracle Concepts Limited, Benjamin Joseph, has tongue-lashed the Chairman, Zinox Group, Leo Stan Ekeh, for falsely denying his involvement in a N170.3 million contract fraud. Mr Ekeh had in reports widely publicised in the media last week, denied that he, his wife, Chioma, and nine...
By TENEBE ANTHONIA, Lagos – To reduce the distortion of companies’ public information and market data, Nigerian Exchange Limited (NGX) has urged investors to disclose their substantial interest in listed companies not later than 10 business days after such a transaction. According to NGX, sudden announcements of previously undisclosed...
By CALLISTUS OFFOR, Abuja – The Nigerian Communications Commission (NCC) has discovered, through social listening and environmental surveillance that a fraudulent letter, titled: “Certificate of Site Ownership”, for clearance of “Mast Transmission Antenna”, are being circulated by some unidentifiable individuals, and purporting that the letter was issued by the NCC....
The market capitalisation of the Nigerian Exchange Ltd (NGX) dropped by N655 billion, following the hike in the nation’s inflation rate to 20.77 per cent. The News of Nigeria (NAN) reports that the National Bureau of Statistics (NBS) on Monday announced the inflation rate for September, standing at 20.77...
President Muhammadu has charged nations of ECOWAS to deploy Science, Technology and Innovation (STI) in addressing various challenges such as diseases and catastrophes ravaging people of the sub region. The president gave the charge while declaring open the maiden edition of African Research and Innovation Forum (FARI) 2022 in...
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 20.77 per cent on a year-on-year basis in September 2022. This is contained in a statement issued by Prince Semiu Adeniran, the Statistician-General of the Federation and Chief Executive Officer, National Bureau of Statistics (NBS) on...
Vice President Yemi Osinbajo says a more market driven approach will be best for Nigeria’s exchange rate management as it will boost confidence and inwards flows. Osinbajo made this submission in his presentation at the 3rd Ministerial Performance Review Retreat for Ministers, Permanent Secretaries and top Government Functionaries on...
The Manufacturers Association of Nigeria (MAN) says contrary to misconceptions in certain quarters, Nigerian companies are neither shutting down nor relocating from the country. MAN President, Mr Mansur Ahmed, made the assertion on Monday in a Lagos while speaking on the side-line of the opening of the association’s annual...
The Advertising Regulatory Council of Nigeria (ARCON) says the nation’s advertising industry loses over N120 billion annually to production of advertising, advertisement and marketing communication materials outside the country. The Director-General of ARCON, Dr Olalekan Fadolapo, said this in a statement made available to the News Agency of Nigeria...
By OLA MUDOPE, Lagos – Polaris Bank has said that increased awareness, advocacy, and support will go a long way to reduce the incidence of breast cancer in the country. The Bank’s Group Head of Strategic Brand Management, Nduneche Ezurike made this known in Lagos while reiterating the bank’s...
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has urged foreign investors to consider Nigeria and other African countries as choice destination for investment. According to a post on CBN twitter handle, Emefiele made the call in Washington, when he was conferred with Africa Most...
Lagos State collected the highest Internally-Generated Revenue (IGR) of N753.46 billion in 2021 followed by the FCT which collected N131.92 billion. The National Bureau of Statistics (NBS) stated on Sunday in Abuja that in 2020, Lagos State also led other states in IGR collection when it got N660 billion,...
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), says West African countries must create export-ready MSMEs that can compete with exports from other countries. Mr Olawale Fasanya, the Director-General/Chief Executive Officer of SMEDAN, said this at the ongoing 1st edition of the Gambia-Nigeria trade fair in Banjul,...
By OLA MUDOPE, Lagos – The Chief Executive Officer (CEO), Air Peace, Mr Allen Onyema, has said the airline would soon commence direct flights to Israel. Mr. Onyema stated this during a courtesy visit to The Executive Secretary Nigerian Christian Pilgrims Commission( NCPC), Rev Yakubu Pam, in Abuja. A...
The Board of Directors of the African Development Bank (AfDB) Group has approved a 50-million-dollar Risk Participation Agreement (RPA) for Natixis, a French Bank. This is contained in a statement by Fahd Belbachir, Senior Communications and External Relations Officer for North Africa, AfDB. The agreement would enable Natixis to...