Zenith, GTBank, export-credit agencies in talks to bankroll NLNG Train 7
High level facility vote discussion is ongoing between the Nigeria LNG Limited, the operator of Africa’s largest natural gas plant with select banking giants for N10bn loan to finance Train 7 project of the group. Lead in the financial institutions…
100% foreign ownership of multinationals alien to any Nigerian business law—Senate
…May probe CAC over poor scrutiny on submitted returns By virtue of the provisions of the Act establishing Corporate Affairs Commission (CAC), foreign company or multinational investing and registering a company in Nigeria must have Nigerian(s) on the board with…
Saipem faces shut down over $29m debt owed NPA, workers
There are indications that the Maritime Workers Union of Nigeria (MWUN) is at the verge of causing a shut down in the operations of Saipem in Nigeria over the company’s complicity in debts running into more than $29 million (N10.6…
Explain why Egina FPSO is more expensive than others worldwide, Senate tells Total
A fresh twist is engulfing the recently completed $16bn Egina floating, production, storage and offloading (FPSO) by Total Upstream Nigeria Limited. In a memo obtained by Business Hilights Abuja Bureau chief, the Senate Committee on Local Content is seeking to…