In line with government objective to discourage monopoly in business community coupled with level playing field that now abound in the insurance sector, Custodian and Allied Insurance Company has won the Nigerian National Petroleum Corporation's Consolidated Insurance Policy (NNPC-CIP) for 2010/2011.
THE Ministry of Power has signed a contract for the construction of a Dual Thermal Plant using Low Pour Fuel Oil (LPFO) and Natural Gas, to be located in Kaduna, with General Electric and Rockson Engineering Nigeria Ltd Consortium.
Year end signals from the insurance sub-sector indicate that the Nigerian insurance market will key into a government-backed growth initiative in the energy sector to expand participation in the energy sector and grow premium income.
For some years now, the Niger Delta has been literally turned to a war zone as militants held the nation to ransom.
The proposed reform of the nation's oil and gas sector could get underway with the planned passage of the Petroleum Industry Bill by the National Assembly before the Christmas holidays begin.
Nigeria has been elected a member of the Executive Council of the African Federation of Utility Regulators (AFUR) at the just concluded 6th conference of the body that held in Abidjan Cote D'Ivore.
Projects worth N215 million have been inaugurated by Nembe community in Bayelsa State and Shell Petroleum Development Company of Nigeria Ltd (SPDC), the company has disclosed.
FOR a man saddled with the arduous task of superintending the beleaguered Nigerian power sector, Dr. Lanre Babalola, Nigeria's Minister of Power always wears a gentle unperturbed mien.
THE Federal Government has failed to deliver on its planned target to generate 6000 Megawatts (MW) of electricity for the national grid by December 2009, even as the Ministry of Power bandies excuses over this failing, pleading gas supply inadequacy, sabotage, the Niger delta crises, etc.
The President of the Chartered Institute of Taxation of Nigeria (CITN), Prince Kunle Quadri, has noted that all levels of government in the country are yet to be aware of enormous advantages of taxation, especially as a major source of revenue.
The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Mohammed Sanusi Barkindo has solicited the cooperation of the Central Bank of Nigeria in the on going reform of the oil and gas sector for it to impact positively on the Nigerian economy.
The Managing Director of Omatek Ventures Plc, Mrs. Florence Seriki, has called on the federal government to take advantage of the enormous opportunities presented by the Information and Communication Technology (ICT) segment of the economy.
President Umaru Yar'Adua has approved the appointment of two new deputy commissioners for the insurance industry regulator, National Insurance Commission (NAICOM).
The Vice President, Dr. Jonathan Goodluck has described Peugeot Automobile Nigeria Ltd, PAN, as a national treasure and urged Nigerians and Nigerian based companies to patronise the brand.
More than 400 pipelines have been destroyed in Nigeria's oil rich Niger Delta region in the last two years, the Lagos-based Vanguard newspaper reported on Monday.
A bus driver and his conductor yesterday escaped physical assault by three suspected thugs who posed as passengers and boarded his bus from Jabi Garage to Berger junction.
In a bid to stop road carnages caused by truck drivers that leave their broken down vehicles on the roads without caution signs, the Federal Road Safety Commission (FRSC) has vowed to prosecute such drivers.
Oil and gas companies operating in Nigerian deepwater have invested over $21bn in the development of oil blocks under the Producing Sharing Contract (PSC), the Managing Director of Chevron Nigeria Limited, Mr. Andrew Fawthrop has said.
The Federal Government said it is willing to collaborate with the government of Uganda to develop its budding oil industry. Minister of state for Petroleum Odein Ajumogobia said the assistance will demonstrate Nigeria's commitment towards promoting the ideals and objectives of the New Partnership for Africa Development (NEPAD) and the African Union.
Senate Leader Teslim Folarin at the weekend in Ibadan spoke on the advantages of the planned oil sector deregulation, allaying the fears of Nigerians on the proposed deregulation.
At least five persons, including a police inspector, lost their lives in five accidents which occurred on Saturday in Lagos, the state Police Command said yesterday.
Twenty three days after the expiration of the six month extension given to Mr Ndanusa Alao, the Managing Director of the New Nigerian Newspapers expired, the workers of the company started a strike yesterday, protesting the non payment of seven months salary arrears and other benefits.
The Federal High Court in Lagos yesterday gave approval to the EFCC to file fresh charges against former Managing Director of Finbank Nig. Plc, Mr Okey Nwosu. Counsel to the EFCC, Mr Rotimi Jacobs, told Justice Dan Abutu that he intended to withdraw the earlier charges and substitute them with new ones.He informed the court that the new charges had already been assigned to another judge.
Long queues of motorists waiting to buy fuel have resurfaced at filling stations around Abuja city centre.A check by our reporters showed that most major filling stations, including Conoil at Utako did not sell fuel to motorists' yesterday morning.
Intercontinental Bank said yesterday it had recovered 78 billion naira in bad loans since it was bailed out in August and said it had improved its risk management.
