Monday 24th July 2017,
Hope for Nigeria

Browsing the "Economy" Category

Emmanuel Nwude

Emmanuel Nwude, Nigerian Biggest Fraudster Sold Non-existent Airport For $242M

Here is the story of Emmanuel Nwude who committed the largest fraud in Nigeria by selling a non-existent airport to a Brazilian for $242 million between 1995 and 1998. Emmanuel Nwude carried out one of the the biggest banking fraud [...]

July 23, 2017 Economy
Dr. Ibe Kachikwu

Nigeria to sell crude oil to African market, says Kachikwu

The Minister of State for Petroleum, Dr. Ibe Kachikwu has announced that Nigeria would explore the possibility of selling crude oil to African markets. He spoke in Abuja yesterday at the 2017 edition of the Sustainability in the Extractive Industries [...]

July 20, 2017 Oil & Gas
fashola electricity

Fashola begs Nigerians to be patient with APC government

Lagos – The Minister of Power, Works and Housing, Mr Babatunde Fashola, has said that the challenges of the power sector in Nigeria are manmade and not technical. Fashola, electric meter Fashola made the statement as a distinguished lecturer at [...]

July 14, 2017 Power
Etisalat Nigeria changes name to 9Mobile

Etisalat Nigeria changes name to 9Mobile

Etisalat Nigeria on Thursday changed its brand name to 9Mobile. The change of name, it was gathered, was approved at a management meeting, with the public relations consultant to the telco, Chain Reactions, confirming the development. Chain Reactions, promised to [...]

July 14, 2017 Telecomms
Emirates’ passenger dies on arrival at Lagos Airport

Emirates’ passenger dies on arrival at Lagos Airport

A Nigerian passenger on Emirates Airlines on Wednesday slumped and died on arrival at the international wing of the Murtala Muhammed Airport, Lagos. The passenger, who arrived on the aircraft with registration number EK783 (DX),was identified as Dr Olusola Dada [...]

July 14, 2017 Transportation
Rotimi Amaechi

FG to build truck transit parks

Worried by increasing accidents on the highways with attendant loss of lives and property involving articulated vehicles, the Federal Government has embarked on a program that will see all trucks on Nigerian highways designated to transit parks on the highway [...]

July 12, 2017 Transportation
Kemi Adeosun

Nigeria can no longer afford to borrow to fund its budget – Adeosun

Nigeria can no longer afford to continue borrowing to fund its budget and must seek alternative fundraising mechanisms, Finance Minister Kemi Adeosun said on Tuesday. “We need to mobilise additional revenue to fund our budget,” she said. “We have got [...]

July 12, 2017 Economy, Finance
Consumers decry poor power supply in Awoyaya, Festac, others

Consumers decry poor power supply in Awoyaya, Festac, others

Electricity  consumers in Festac area in Amuwo Odofin, Local Government, Awoyaya area in Ibeju Lekki and other areas in Lagos State, have bemoaned the poor power supply to their communities in the last one month.   Electricity They complained that [...]

July 10, 2017 Power
Onyema acquires aircraft No 13

Onyema acquires aircraft No 13

IN his resolve to make a huge difference in the Nigerian aviation industry, chairman/chief executive officer of Air Peace, Mr. Allen Onyema, has taken delivery of a new aircraft he acquired to increase the airline’s fleet to 22. Onyema The [...]

July 5, 2017 Economy
Petrol Cars Will Vanish In 8 Years

Petrol Cars Will Vanish In 8 Years, Nigeria In More Trouble

No more petrol or diesel cars, buses, or trucks will be sold anywhere in the world within eight years. The entire market for land transport will switch to electrification, leading to a collapse of oil prices and the demise of [...]

July 4, 2017 Oil & Gas
Kogi Civil servant

Kogi Civil Servant on ₦34,000 Monthly Salary Refunds ₦1.7m Wrongly Paid Into Her Account

Kogi Civil Servant: Despite the economic hardship, some Nigerians still stand out in their disposition to honesty. Recently, a civil servant in Kogi State, Mrs. Husseina Mohammed, a level seven accountant attached to the Teaching Service Commission (TSC) in Lokoja [...]

July 1, 2017 Economy
No More Financial Support For Nigeria – EU

No More Financial Support For Nigeria – EU

The European Union (EU) ambassador to Nigeria and ECOWAS, Michel Arrion says EU cannot promise further financial assistance to Nigeria. Arrion made this known at a lecture which the IBB Golf Club organised in Abuja. The lecture had as its [...]

June 30, 2017 Economy
How 5 Katsina Kids Died Seeking Alms

How 5 Katsina Kids Died Seeking Alms

Every year, especially during the Ramadan, hundreds of less privilege people seeking alms and assistance throng the homes of wealthy individuals. It is usually a period when the rich normally give out Zakat, one of the pillars of Islam. Zakat [...]

June 24, 2017 Economy
Indonesian Firm Builds Refinery In Akwa Ibom

FDI: Indonesian Firm Builds Refinery In Akwa Ibom

The hope that Nigeria will begin to engage in local refining has been rekindled as an Indonesian firm, PT Intim Perkasa Nigeria Ltd, a subsidiary of PT Intim Perkasa, Indonesia, has indicated interest to build a refinery in Nigeria. Mr. [...]

June 22, 2017 Power
Nigeria Loses N140bn To Apapa Gridlock Weekly

Nigeria Loses N140bn To Apapa Gridlock Weekly

President of Dangote Group, Aliko Dangote has lauded the decision of the federal government to reconstruct the failed Apapa Wharf road as a huge loss of close to N140 billion to the government on a weekly basis. Dangote who spoke [...]

June 21, 2017 Economy

BREAKING: DSS Releases Ifeanyi Ubah Unconditionally.

The illegally detained chief executive of Capital Oil and Gas Limited, Dr Ifeanyi Ubah was unconditionally released by the Directorate of Security Service (DSS), as prosecution collapses. After weeks of investigation by the Nigerian Secret Police, they concluded that there [...]

June 20, 2017 Featured Post, General, Government and politics, Oil & Gas
China To Support Nigeria Build Own Transformers

China To Support Nigeria Build Own Transformers

China To Support Nigeria Build Own Transformers – The power sector continues to be a vital component for development. Nigeria, known for its erratic power supply and unstable services, has sought the assistance of China to make transformation in that [...]

June 18, 2017 Power
Ismail Adekola Yusuf

How Kaduna Dryport Will Open Up The North For Business – Yusuf

The chief executive officer/ managing director of Inland Container Nigeria Limited (ICNL), the operator of Kaduna Dryport, Ismail Adekola Yusuf, in this interview with YUSUF BABALOLA, spoke on how the dryport will address the problems being encountered by shippers in [...]

June 12, 2017 Economy
NEITI: Crude Oil Worth $15.9bn Lost in Four Years

NEITI: Crude Oil Worth $15.9bn Lost in Four Years

The Executive Secretary, Nigerian Extractive Industry Transparency Initiative (NEITI), Mr. Waziri Adio, wednesday disclosed that a whopping $15.9 billion in crude oil was either lost or not accounted for between 2011 and 2014. According to him, the sum of $4.3 [...]

June 8, 2017 Oil & Gas
NASS To Create 1.5m Jobs In 5 Years – Saraki

NASS To Create 1.5m Jobs In 5 Years – Saraki

In order to enhance the economy and reduce poverty, the National Assembly has prioritized enactment of laws that would create additional 1.57m jobs and improve income growth in the next five years, Senate President Bukola Saraki has said. According to [...]

June 6, 2017 Employment
APC Appoints Saraki To Lead Buhari’s Anti-Corruption War

2017 Budget: Ministers, National Assembly Meet Over Removal Of Road Infrastructure Funds

A high powered delegation of the executive arm of government yesterday held a closed-door meeting with the leadership of the National Assembly over details of the 2017 budget. LEADERSHIP gathered that the executive arm of government was particularly not happy [...]

June 6, 2017 Economy
Governor Ayodele Fayose

Fayose Buys Fuel From Black Market Sellers Because Of Ekiti Fuel Scarcity

While the strike embarked on by petrol marketers in Ekiti State was going on, Governor Ayodele Fayose also patronized Okada riders who took to hawking of petrol on the streets of Ado Ekiti to alleviate the sufferings of the people.This [...]

June 5, 2017 Oil & Gas
The Akwa Ibom State Toothpick and Pencil Factory

First Toothpick And Pencil Factory In Nigeria (Photos)

The Akwa Ibom State Toothpick and Pencil Factory is located along Km 2, Uyo-Etinan Road,Ekom Iman,Etinan LGA. See photos below:           [...]

June 5, 2017 Business
Babatunde Fashola

‎10,000MW Still Achievable By 2019 – Fashola

The Minister of Power, Works and Housing, Babatunde Fashola, says the Nigerian government’s target of providing 10,000MW of electricity by 2019 is still achievable. ‎According to a statement by the power ministry, Mr. Fashola said this while fielding questions on [...]

June 4, 2017 Power
Motorists, Commuters Kick As Senate Proposes N5 Petrol Charge

Motorists, Commuters Kick As Senate Proposes N5 Petrol Charge

N5 Petrol Charge – Motorists and commuters yesterday kicked against the proposal by the Senate to effect a N5 levy, chargeable per litre, on every petrol and diesel products imported into the country and on other non-locally refined petroleum products. [...]

June 2, 2017 Oil & Gas

Witness: Madueke Used 3 Companies, 2 Persons To Launder $115million

An Operative of the Economic and Financial Crimes Commission (EFCC), Usman Zakari, on Thursday gave graphic details of how the former Petroleum Minister, Mrs Diezani Madueke, laundered $115 million USD, through three oil companies and two individuals. Zakari, the EFCC [...]

June 1, 2017 Oil & Gas

DSS Continued Incarceration Of Ifeanyi Ubah, The Man That Rescued Nigeria Against Oil Marketers Deifies Common Sense.

#FreeIfeanyiUbah!!! Today is 27 days that Ifeanyi Ubah has been in DSS detention without trial except the media war and lies orchestrated by this government agency against him. This is 168 Hours, a Federal High Court in Lagos granted Ubah unconditional [...]

June 1, 2017 General, Government and politics, Oil & Gas
withdrawal of oil prospecting licences

FG Revokes N44.6 Billion Oil Block Licences From Niger Deltans, Retains Licenses Northerner Cabals

N44.6 Billion Oil Block Licences From Niger Deltans: The final withdrawal of oil prospecting licences issued in 2001, 2002, and 2003, for the Utapate Field, 01, 03 and 05, in Delta State, believed to have been won by some indigenous [...]

May 31, 2017 Oil & Gas
Poor Power Supply Persists

Poor Power Supply Persists Despite Rise In Supply To 3,578 MW

Power generation has risen from 3,161 megawatts, MW to 3,578 MW over the weekend as Electricity Generating Companies; GENCOs continue to increase generation after the recent system collapse. This showed 9,222MW below the nation’s 12, 800 estimated daily national demand, [...]

May 9, 2017 Power
Osun Doctors Protest Against Unpaid Salaries

Osun Doctors Protest Against Unpaid Salaries

Osun Doctors Protest – Medical doctors in Osun State on Thursday staged a peaceful protest in Osogbo over unpaid salaries and poor healthcare facilities in state-owned health institutions. The doctors, members of Nigerian Medical Association (NMA), Osun Chapter, carried placards, [...]

May 5, 2017 Employment
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