Business Oil & Gas Top Story

Buhari and NUPRC on collision course over sale of Exxon Mobil

Reading Time: 2 minutes Nigeria’s petroleum regulator, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said on Tuesday it stood by its refusal to approve Exxon Mobil’s $1.28 billion sale of shares in its Nigerian unit to Seplat after President Muhammadu Buhari approved the transaction. NUPRC Chief Executive, Gbenga Komolafe, said under a new petroleum law passed last year, the petroleum Read More…

Business Maritime Top Story

Badagry Seaport gets $2.59bn FEC vote for take-off

Reading Time: < 1 minutes The Badagry Deep Seaport project in Lagos State received a boost on Wednesday when the Federal Executive Council (FEC) meeting in Abuja approved 2.59 billion dollars for its development. The Minister of Transport, Muazu Sambo made this known while addressing State House correspondents on the outcome of the council meeting with his counterparts from the Read More…

Business Corporate Governance Top Story

Nigerians are becoming very conscious of what they eat and drink – CEO, Niyya Foods

Reading Time: 28 minutes Dr. Abdulsalam E. Ogbemudia, is the Chief Executive Officer, Niyya Food and Drinks, manufacturers of the Farm Pride range of natural fruit drinks. A senior management professional with specialisation in Manufacturing Operations and Corporate Governance, Dr. Ogbemudia has been on the top saddle of the company since May 2021, seeing the company through the turbulent Read More…

Business Nigeria Salaries & Wages

Increase our salary, civil servants tell states, FG

Reading Time: < 1 minutes Federal and state civil servants have appealed to both governments to increase workers salaries to reduce their hardships. They complained that the increase in the pump price of petrol meant they now spend an unsustainable portion of their meagre income on buying the product. A litre of fuel now sells for between N184 and N220 Read More…

Business Taxes & Duties Telecommunications

After 39 taxes, telcos reject FG’s fresh five per cent tax

Reading Time: 2 minutes Telecommunications companies have advised against the implementation of the 2022 Fiscal Policy Measures and Tariff Amendments, which demands five per cent as excise duty for services provided. They described the tax as insensitive, unfair, and capable of crippling the industry in the way and manner the oil industry has been crippled by different challenges. According Read More…

Business Oil & Gas Top Story

Subsidy payments: Identities of 23 oil firms operating in Nigeria missing from CAC register

Reading Time: 2 minutes Details and the exact names of 23 oil and gas companies which operated in the Petroleum Products Subsidy Regime from 2013 to 2021 have not been found at the Corporate Affairs Commission (CAC). The firms are Emadeb Consortium; Britania-U Nig. Limtted; Totsa Total Ol Tradings SA; Petroleum Trading Nigeria Limited; Mocoh S.A; Socer Worldwide; Calson Read More…

Business Imports Maritime Metro

Lagos seeks hike in wharf landing fees rate

Reading Time: 2 minutes The Lagos State Government Wharf Landing Fee Collecting Authority (LASGWLFCA) has approached the State Assembly for an upward review of the wharf landing fee collected on all imported goods into Nigeria through Lagos ports. The Chairman of the agency, Adegboyega Adebayo stated this on Tuesday when he received executives of the Importers Association of Nigeria Read More…

Business Commodities Nigeria Top Story

Insecurity: Expect double food prices from August, farmers warn Nigerians

Reading Time: 2 minutes The All Farmers Association of Nigeria (AFAN), has warned that a rise in food prices is imminent. The farmers told Nigerians to prepare for doubled food prices from August. The prices of staple menu like beans, rice and garri may jump by as high as 50 per cent from next month, they warned. According to Read More…

Banking Business Nigeria Politics Top Story

Reps amend law to stop CBN governor from partisan politics

Reading Time: < 1 minutes The House of Representatives has passed a Bill after the second reading to stop the Governor of the Central Bank of Nigeria (CBN) from participating in future elections in the country. Sada Soli, the sponsor of the Bill at the plenary in Abuja on Tuesday said the bill would add more conditions to the disqualification Read More…