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All posts by BusinessNews Staff

  • Oil firm refutes allegations of illegality in NNPC contracts

    An oil servicing company, PPP Fluid Mechanics Limited (PPPFM), has denied any engagement in illegality in the process of obtaining and executing its contracts awarded by the Nigerian National Petroleum Corporation (NNPC). The Managing Director and Chief...

    • Posted September 19, 2015
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  • TSA: Don’t panic – Emefiele tells banks

    The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, on Thursday ruled out a naira devaluation, a day after President Muhammadu Buhari said he might not devalue the local currency again. Emefiele told banks not to panic...

    • Posted September 19, 2015
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  • Nigeria’s N630bn annual food import bill worries Emefiele

    The Central Bank of Nigeria (CBN) Governor, Mr. Godwin  Emefiele, has reiterated his concern over the country’s position as a net importer of agricultural produce with import above N630 billion. The country imports food products such as...

    • Posted September 19, 2015
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  • Nigerian airlines accused of exceeding expatriate quota

    Many of the over 450 Nigerian pilots and engineers who are unemployed have alleged that Nigerian airlines are exceeding the expatriate quota, which stipulated a specific number of foreigners  the airlines should employ. The Nigerian Immigration Service...

    • Posted September 19, 2015
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  • Troops to secure power assets – FG

    To curb acts of vandalism and destruction of power assets across the country, the Nigerian military will secure infrastructure belonging to power distribution and generation firms as well as those owned by the Transmission Company of Nigeria,...

    • Posted September 19, 2015
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  • NECA opposes CPC’s regulatory role

    The Nigeria Employers’ Consultative Association has expressed its displeasure over the regulatory role of the Consumer Protection Council, saying the recent activities of the council are functions already being performed by other government agencies. The representative of...

    • Posted September 19, 2015
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  • NEITI wants increased penalties for errant oil firms

    The Nigeria Extractive Industries Transparency Initiative on Thursday called for an amendment to its law so as to allow it to double civil monetary penalties on mining, oil and gas companies that provide false information regarding volumes...

    • Posted September 19, 2015
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  • Ondo distributes N20m soft loans to traders

    The Ondo State Government says it has distributed a sum of N20m soft loans to traders in the state through its micro-credit scheme in a bid to improve the economy of the people at the grassroots. The...

    • Posted September 19, 2015
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  • Onshore oil taxation too high – Alakija

    Nigeria’s 85 per cent tax on onshore crude oil production is dissuading local investors from taking over assets from international oil companies, said Folorunso Alakija, an energy tycoon and the nation’s richest woman. Famfa Oil Limited, founded...

    • Posted September 19, 2015
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  • Ikpeazu moves to produce skilled youths to feed Aba factories

    Abia State Governor, Dr. Okezie Ikpeazu, Wednesday took a bold step to revive the technical vocational education in the state in order to produce school leavers that would possess the requisite skills to fit into the manpower...

    • Posted September 18, 2015
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