MAN seeks special forex allocation status
Worried by the inefficiency exhibited by commercial banks in carrying the Central Bank of Nigeria (CBN) directive to earmark 60% of forex to the Manufacturers Association of Nigeria (MAN), the group has called for the adoption of concessionary Forex allocation…
NASS objects concession of Lagos-Kano rail line
Barely one week after the Minister of transportation, Mr. Rotimi Amaechi disclosed that the federal government has concluded plans to hire General Electirc to work out concession modalities on the Lagos-Kano rail line and Port Harcourt-Maiduguri, the House of Representatives…
Nigeria’s oil production jump to 1.9 million b/d
Nigeria’s oil production has risen to 1.9 million b/d, the oil ministry said Tuesday, even as the government has begun moves for all-inclusive talks with Niger Delta leaders to end militancy in the region and bolster oil production. Omar Farouk,…
Niger Delta Avenger hits Chevron pipeline again
Niger Delta Avengers yesterday claimed that it had attacked a Chevron pipeline as a warning to international oil groups not to repair damaged infrastructure pending talks with militants. However, the attack seems to be coming just days before the militants…
OPEC output cut closes in on oil market re-balance, says IEA
Signal has emerged that the oversupplied oil market will be re-balanced earlier than expected if major crude producers implement a deal to cap output when they meet next month, the International Energy Agency chief said yesterday. Under current conditions, the…
Toll gates return as Senate passes motion yesterday
The Senate yesterday passed a motion for the reintroduction of toll gates on federal roads in the country. The motion, titled ‘Need for the Re-establishment of Toll Gates on Our Federal Highways,’ was moved Senator Suleiman Nazif, representing Bauchi-North Senatorial…
Anxiety as Buhari seeks NASS approval to borrow $30bn
Indication emerged yesterday that recession is closing in on the crescendo as President Muhammadu Buhari has asked the National Assembly to approve his administration’s external borrowing plan of $29.960bn for the execution of key programmes and infrastructural projects across the…
Twelve Varsities to gain from 2016 Etisalat Merit Award scheme
Youth-friendly telecommunications company, Etisalat Nigeria, has listed 12 universities across the six geo-political zones as beneficiaries of the 2016 edition of its annual scholarship scheme and Etisalat Merit Award. This is in furtherance to its commitment to youth development and…
Comply with all NCC regulations, Minister tells Saudi telecoms investors
The Minister of Communications, Barrister Abdul-Raheem Adebayo Shittu has advised all intending investors in the nation’s telecommunications industry to always keep to the rules and regulations as may be churned out from time to time by the government or relevant…
FG mulls 4 policy architecture to drive gas-to-power scheme
Considering the volume of gas wastages through vandalism, the Minister of State for petroleum, Dr. Ibe Kachukwu has revealed government intention to develop in less than one month four-pronged policy direction that will tame vandalism and boost gas utilization in…
