The bullish run in the Nigerian Stock Exchange (NSE) was halted, Tuesday, as the value of listed equities dipped by N77.85 billion.
The House of Representatives has thrown its weight behind moves to strip the Nigerian Maritime Administration and Safety Agency (NIMASA) of its maritime security function and the creation of a new body to perform the security function.
The trend of bulls' run that has lasted for about a week at the Nigerian Stock Exchange came to a halt yesterday, following price depreciations suffered by many highly capitalised stocks, occasioned by profit taking by investors.
The chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Engr. Hamman Tukur, yesterday raised an alarm over the joint venture (JV) entered between the Federal Government and multinationals, declaring that Nigeria was being ripped off of billions of naira by foreign companies.
Plateau State governor, Da Jonah Jang, has frowned on the manner in which the Federal Government handled the issue of the 26 mercenaries arrested during the November 2008 crisis, saying the state does not know the outcome of investigation into the case in Abuja.
The Federal Government yesterday came close to admitting that it would not meet the power generation capacity of 6,000 megawatts by the end of December this year, even as it declared that it never entered into any deal of such target with Nigerians.
Shongai Packaging Industry Limited has announced plans to expand its production activities through further investment in the production of innovative packaging products.
Pan-African non Governmental organisation (NGO) committed to the development of telecom on the continent, Africa Telecom Development Initiative(ATDI), has commended the leadership of Nigerian Communications Commission (NCC) for its revolutionary regulation of the industry.
Most participants at the recently concluded Internet Governance Forum (IGF) in Sharm el-Sheikh, Egypt have canvassed the extension of the process beyond 2010 with some routing for an additional five year term.
Imagine a situation when you now have telephony access with voice and data, all simply in one cable with a modern technology that converts existing twisted-pair telephone lines into access paths for multi media and high speed data communications.
The Executive Board of the International Monetary Fund (IMF) completed on December 7 the seventh review under the Policy Support Instrument (PSI) for Cape Verde. The PSI for Cape Verde was approved on July 31, 2006 (see Press Release No. 06/172) and was extended by one year on June 19, 2009 (See Press release No. 09/222).
Despite the return of peace in the oil industry hub of Niger Delta following government's amnesty packages, illegal crude oil exports continues unabated in the region, causing production deficits and revenue loss.
Sirius Petroleum Plc reported that it has identified its first marginal oil field opportunity in Nigeria, through a strategic partnership under a letter of intent (LoI) with indigenous Frontier Oil Ltd.
The Federal Government's plan to revamp oil/gas sector could stall if oil reform bill does not pass by early next year, a scenario which some oil firms fear will further delay investment decisions in the country.
Nigerdock, has declared that it has taken custody of Transocean's giant jack-up rig' Adriatic VIII, for refurbishment and maintenance work.
Following the reentry of its key gas suppliers to their respective production sites, the Nigerian Liquefied Natural Gas (NLNG) Limited says would ramp up output by next year when gas supply from Shell's Soku gas plant is expected to witness upbeat in activity.
Chevron Nigeria Limited gas called on fellow oil firms in the country to step up implementation of the local content development policy of the government by initiating processes and programs that would sustain growth in capabilities within the industry.
Presidential Adviser on Energy matters Dr. Emmanuel Egbogah, said Monday in Bombe, India that the Federal Government has invited Indian companies to operate in the country's oil and gas sector and expressed confidence that Indian investments in Nigeria would be profitable while at the same time it would secure India's energy supply needs.
GE Oil & Gas in a partnership with Rockson Engineering Nigeria has been awarded a $230 million contract by the government of Nigeria for the installation and commissioning of a dual fired 150-200 MW power plant in Kaduna.
ONGC Videsh Ltd, the overseas arm of India's state-run oil exploration major Oil and Natural Gas Corp (ONGC), is planning to set up a greenfield refinery in Nigeria.
Stoof International, a German based company of over a century and half experience in developing and manufacturing of special custom made products in the security sector said the company is in Nigeria to expand its business.
ANAMBRA State Government has signed a Memorandum of Understanding (MoU) with the Bank of Industry in respect of the Two Billion Naira state Micro, Small and Medium Enterprises Intervention Fund.
The Nigeria National Petroleum Corporation (NNPC) did not lodge the sum of N300bn in oil revenue into the nation's coffers in the last four months, a document from the Federation Account Allocation Committee (FAAC) indicates.
Nigeria's naira fell against the U.S dollar yesterday as demand for the greenback outweighed supply at both the central bank's auction and the interbank market, traders said.
State governors have no right to increase taxes in the country as that is the responsibility of the National Assembly, Alhaji Ahmed Jibril, the Executive Chairman of the Kaduna State Board of Internal Revenue has said.
