Latest News
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Oando increases gas footprint via Ajaokuta LNG Project
Oando Gas and Power Limited (OGP), the foremost indigenous developer and provider of gas and power solutions, and a fully-owned entity of Oando Plc, has commenced development of a mini Liquefied Natural Gas (LNG) facility through its...
- Posted May 11, 2016
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We’re carefully studying Labour’s demand for new minimum wage – FG
The federal government monday said it was carefully studying demands by organised labour for a new minimum wage pegged at N56,000 for Nigerian workers. The position of the government is the first official statement in line with...
- Posted May 11, 2016
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Shell to continue operations, denies plan to evacuate workers
Shell Companies in Nigeria have restated their long-term commitment to the Niger Delta, saying they would continue operations in the oil-rich region despite the spate of militant attacks in recent days. Shell has also denied evacuating its...
- Posted May 11, 2016
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Lagos issues N1bn pension bonds to 260 retirees
The Lagos State Government has issued retirement benefit bond certificates for a total sum of N1.08bn to 260 retirees. A statement said the beneficiaries were from local governments, the State Universal Basic Education Board, Teachers’ Establishment and...
- Posted May 10, 2016
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N93bn debt: Power firms to disconnect MDAs, military
Electricity distribution companies are poised for a showdown with their major debtors as the latter face mass disconnection of supply in the days ahead. The firms said for months, they had been groaning under severe liquidity constraints...
- Posted May 10, 2016
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Unsolicited SMS to attract N5m fine – NCC
A document from the Legal and Regulatory Services Department of the Nigerian Communications Commission indicates that the NCC has barred mobile number operators from sending out unsolicited text messages to subscribers. The failure by any of the...
- Posted May 10, 2016
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FG, CITN move to boost tax revenue
The Chartered Institute of Taxation of Nigeria says it will partner the Federal and state governments to evolve a sustainable solution to economic crisis affecting the country. It, however, said the crisis would require an empirical approach...
- Posted May 10, 2016
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Court strikes out suit by AMCON to wind up Capital Oil and Gas
A Federal High Court in Lagos last Friday struck out a suit by the Assets Management Corporation of Nigeria (AMCON) for the winding up of Capital Oil and Gas Industries Limited. The court, presided over by Justice...
- Posted May 10, 2016
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FG needs N1.7tn to complete 206 road projects – Fashola
The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has said the federal government will need as much as N1.7 trillion to complete about 206 road projects it awarded in the past. Fashola however said the...
- Posted May 10, 2016
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Power supply drops to 2,500MW after militant attacks
The twin attacks, last week, on Chevron’s oil and gas facilities in the Escravos area of Delta State has resulted in a drop in power generation from about 3,600 megawatts (MW) to 2,500MW, translating to a loss...
- Posted May 10, 2016
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Recapitalisation: Operators consider capital injection, merger to meet deadline
Capital market operators (CMOs), who missed the September 30, 2015 deadline for recapitalisation are now intensifying efforts to meet the new December 31, 2016 date given by the Securities Exchange Commission (SEC). THISDAY checks revealed that the CMOs are wooing...
- Posted May 10, 2016
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FG may increase petrol price soon — Marketers
The Federal Government may soon effect an upward review in the pump prices of Premium Motor Spirit, popularly known as petrol, oil marketers have said, attributing this to the recent increase in the cost of crude oil...
- Posted May 9, 2016
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Stock market recovers, gains N4bn on budget signing
Nigerian equities bounced back on Friday with the stock exchange market capitalisation rising by N47bn, on a day that President Muhammadu Buhari signed the 2016 budget into law. Trading in the treasury bills market also closed the...
- Posted May 9, 2016
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FG plans Industrial Centres
As part of strategy to fast-track the nation’s industrialisation, the federal government plans to create industrial centres across the country and encourage a cluster of manufacturing concerns with similar production needs and product lines to which it...
- Posted May 9, 2016