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  • Reps replace shippers’ council with transport commission

    maritime safety, education and administration and that on aviation. Addressing the House before the adoption of the report, the chairman of land transport committee, Rep Aminu Sani Isa (APC, Sokoto) said the main objective of the bill...

    • Posted April 14, 2017
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  • FG begins $5.1bn debt payment to IOCs

    The Federal Government will by the end of this month begin payment of a $5.1 billion debt it owes five international oil companies (IOCs), Minister of State for Petroleum Resources, Ibe Kachikwu, has said. The government had...

    • Posted April 14, 2017
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  • Buhari appoints CBN non-executive directors

    President Muhammadu Buhari on Wednesday forwarded the list of his nominees to the Senate for confirmation as Non-Executive Directors of the Board of the Central Bank of Nigeria (CBN) in accordance with Sections 6 (1) (d) and...

    • Posted April 13, 2017
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  • NNPC to begin to make money from its IT networks

    The Nigerian National Petroleum Corporation (NNPC) says it wants to commercialise some of its critical Information Communications and Technology (ICT) infrastructure in line with its bid to re-focus the Corporation as a commercially viable entity. The Group...

    • Posted April 13, 2017
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  • Arik Air owes local, foreign creditors N387bn – AMCON

    Assets Management Corporation of Nigeria (AMCON) which took over the indebted Arik, says the airline owed almost N387bn. This amount comprises N375bn local debt; €31million being owed Lufthansa Technik Group which manages Arik Air planes and $6.5m...

    • Posted April 13, 2017
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  • Lagos Airport for certification April ending – NCAA DG

    Barring any unforeseen circumstance, the Murtala Mohammed International Airport (MMIA) would be certified at the end of the month, Director General of the Nigeria Civil Aviation Authority (NCAA), Capt. Mukhtar Usman has assured. Once the certification of...

    • Posted April 12, 2017
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  • Dangote to list refinery, petrochemical coys on NSE

    Alhaji Aliko Dangote, past President of the Nigerian Stock Exchange (NSE) on Monday promised the listing of companies under the Dangote Group of companies on the nation’s bourse. The companies include Refinery and Petrochemical. Dangote stated this...

    • Posted April 12, 2017
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  • Naira slides to 410/$ at BDCs, traders pledge support to CBN

    Naira yesterday slipped further to 410 against the United States Dollar due to apprehension in the market over the supply constraints. The local currency has weakened on both the official and black markets. This is coming as...

    • Posted April 12, 2017
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  • No more rice through Free Trade Zones – Customs

    The Comptroller General of Customs (CGC), Col. Hameed Ali (rtd), has directed a restriction on the exit of rice from the Free Trade Zones (FTZ) into the country’s market as Customs tackled smuggling through the land borders....

    • Posted April 11, 2017
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  • Telecom masts, towers constitute no health hazards — NCC

    The Nigerian Communications Commission (NCC) says there is no health issue surrounding telecom masts and towers mounted anywhere in the country. The Executive Vice-Chairman of NCC, Prof. Umar Danbatta, said this in a statement issued at the...

    • Posted April 11, 2017
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  • Nigeria equity market opens week with 0.47% loss

    The market indices of the Nigerian Stock Exchange (NSE) resumed trading for the week on Monday on a bearish note following loses posted by some highly capitalised equities. The News Agency of Nigeria (NAN) reports that Nigerian...

    • Posted April 11, 2017
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  • Oando returns to profit, posts N3.5bn

    Oando Plc, Nigeria’s largest indigenous energy group has released its financial year ended 2016 results with a N3.5 billion profit-after-tax, a 107 percent increase from the loss of financial year ended 2015. A review of the company’s...

    • Posted April 11, 2017
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  • MRS commissions Africa’s largest jetty in Lagos

    Foremost downstream oil company, MRS Oil Nigeria Plc, saturday commissioned a berthing terminal – Dantata Jetty, which has a capacity to berth vessels of 80,000–120,000 metric tonnes capacity at the Tin Can Island Port in Lagos. The...

    • Posted April 10, 2017
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  • FG to revive sale of 10 NIPP plants in new economic plan

    The Federal Government has said it would conclude the sale of 10 brand new electricity generation plants built under the National Integrated Power Projects (NIPPs) by the Niger Delta Power Holding Company Limited (NDPHC) in line with...

    • Posted April 10, 2017
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