The Group Managing Director/Chief Executive Officer, Afribank Nigeria Plc, Mr. Nebolisa Arah said yesterday that the bank was not planning any retrenchment of staff or contemplating any salary cut of its staff.
THE member representing Ebonyi/Ohaukwu Federal constituency in the House of Representatives, Mrs. Elizabeth Ogbaga, has expressed dissatisfaction over what she called low level of implementation of projects contained in the 2009 budget.
Since plans by government to deregulate the downstream sector of the oil industry became public knowledge, fuel marketers have intensified efforts in doing what they know how to do best: That is to hoard the product.
China has not given up on its attempt to become a player in the Nigerian oil industry. Consequently, the $50 billion offer to the Federal Government to enable it acquire 49 per cent stake is still on the table. This translates to some six billion barrels in oil reserves.
Government has reassured investors in the West African Gas Pipeline (WAGP) that the policy priority for domestic supply would not entail sabotage of the regional fuel grid.
The agitation for local content in the oil and gas industry recently got a boost from the House of Representatives, whose piece of legislation seems the boldest attempt to make Nigerians maximally benefit from the oil and gas endowment in the country.
Recently, the Venezuelan Ambassador to Nigeria, Enerique Fernando Arrundell, during a visit to the Minister of Information and Communications, Dora Akunyili, offered some advise to Nigerian government about how to make the huge revenue it derives from oil work for the citizens.
NIGER-DELTA peace activist, Mr. Cletus Arerebo, has commended Vanguard Newspapers, Governors Emmanuel Uduaghan and Timipre Sylva of Delta and Bayelsa States respectively for their role in the success the Federal Government has recorded so far in its amnesty programme for militants.
FORMER Group Executive Director incharge of Exploration and Production of Nigeria National Petroleum Corporation (NNPC), Dr. Chris Ogiemwonyi, has urged the Federal Government to speed up the proposed reforms in the oil industry to strengthen the NNPC for better productivity.
THE Itsekiri nation has been charged to design strategies to cash in on the 10% equity share of the oil and gas industry and the yet-to-be signed Petroleum Industry Bill as part of amnesty deal.
CATHOLIC Archbishop of Lagos, Anthony Cardinal Okogie, has alleged that certain fraudulent individuals have invaded the Internet, using the names of Catholic top notchers to defraud innocent people.
Oceanic Bank International Plc has launched into the banking public an array of new products designed to meet the need the various segment of the banking populace for personalised services.hed into the banking public an array of new products designed to meet the need the various segment of the banking populace for personalised services
THE House of Representative Adhoc Committee on maritime security has expressed concern over the general deterioration of maritime business, a development that has led to the loss of over N15billion from the fishing sub-sector alone.
Vitafoam Plc has concluded plans to diversify into key sectors of the economy, declaring that it has expanded its operations to Ghana, while plans are in top gear to open shop in Sierra Leone.
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).
