According to Vice President Yemi Osinbajo, the agricultural value chain rather than the extractive industry is where Nigeria finds its wealth. This opinion was expressed by Osinbajo on Friday in Abuja during the inauguration of the Olam Agri initiative Seeds for Future Foundation and Education Grant. Leading agricultural company Olam Agri concentrates on fast-growing consumer Read More…
Business
Shell resumes crude oil export operations at Forcados Oil Terminal
After a few days of pipeline repair work, Shell Petroleum Development Company (SPDC) has resumed export operations at the Forcados Oil Export Terminal. This was confirmed to the News Agency of Nigeria (NAN) by the SPDC’s Media Relations Manager, Mrs. Abimbola Essien-Nelson, on Friday in Lagos. By the end of October, when the continuing crucial Read More…
EKEDC will reduce estimated billings through aggressive metering
To close the metering gap in its operating network, Eko Electricity Distribution Company (EKEDC) says it has started aggressive metering under the Meter Asset Provider (MAP) and National Mass Metering Programme (NMMP) Schemes. Mr. Godwin Idemudia, General Manager, Media Communications, EKEDC, disclosed this to journalists on Friday. Idemudia said that the plan gave the company Read More…
CBN sells Polaris Bank to Strategic Capital Investment
The sale of Polaris Bank to a new core investor, Strategic Capital Investment Ltd. (SCIL), has been made public by the Central Bank of Nigeria (CBN). A statement signed by Mr. Osita Nwanisobi, Director, Corporate Communications, and posted on the CBN website on Thursday said that the sale was completed after SPA signed a Share Read More…
NLNG plant operating despite force majeure
Contrary to what is making the rounds on social media, the management of Nigeria LNG Ltd. (NLNG) said on Thursday that the company’s plant was operating at a lower capacity because some of its upstream gas suppliers were sending less gas than usual. In a statement released on Thursday in Lagos by Mr. Andy Odeh, Read More…
Reps Committee confirms Polaris Bank sale followed procedure
The chairman of the House of Representatives Ad hoc Committee looking into the sale of Polaris Bank, Mr. Henry Nwawuba, stated on Thursday that the sale of the bank was proceeding legally. The politician made this remark at a press conference held at the National Assembly in Abuja. He allayed investors’ concerns about the financial Read More…
FG orders reversal of unilateral increase in mobile tariffs
The impacted Mobile Network Operators (MNOs) have been ordered by the Federal Government to reverse the arbitrary upward pricing hikes. The directive was issued by the Nigerian Communications Commission (NCC) in a letter dated October 12 in response to media reports of the recently approved 10% upward pricing increases being implemented unilaterally. The service providers’ Read More…
LCCI charges 57 inductees on innovation
The newly accepted member organisations of the Lagos Chamber of Commerce and Industry (LCCI) have been entrusted with becoming creative and adopting new methods to meet their evolving demands and expectations following the COVID-19 epidemic. The counsel was given by Dr. Michael Olawale-Cole, President of the LCCI, on Wednesday in Lagos during the induction ceremony Read More…
Experts urge FG to boost oil output to reduce budget deficit in 2023
Some financial experts have told the federal government that increasing the country’s oil production to the OPEC quota is the only way to keep the budget stable and reduce the projected budget deficit. On Wednesday in Lagos, they made the appeal in separate interviews with the News Agency of Nigeria (NAN). Prof. Sherifdean Tella, Head, Read More…
Ikeja’s Lagos Airport Hotel is 80 years old
The Lagos Airport Hotel, located in Ikeja, is ringing the drums to commemorate its 80 years of service to the hospitality sector. The luxury hotel was founded in 1942 as an owner-operated establishment with five rooms and was given the name “Grand Hotel, Lagos” by the British owner Mr. Joseph Harold. In 1956, Mr. Harold Read More…