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NNPC To Resume Oil Search In Lake Chad Basin

NNPC Agrees to $2.5bn Financing with Chinese Lender for Pipeline Project

The Nigerian National Petroleum Corporation (NNPC) is set to resume oil search in the Lake Chad basin once it gets the needed green light from security agencies. This is as the Bauchi State Governor, Bala Mohammed has expressed optimism over ...

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Banks Prepared to Fund Rehabilitation Of Nigeria’s Refineries – NNPC

Banks Prepared to Fund Rehabilitation Of Nigeria’s Refineries – NNPC

The outgoing Group Managing Director of the Nigerian National Petroleum Corporation, Dr Maikanti Baru, has disclosed bank’s readiness to fund the rehabilitation of the nation’s ailing refineries. After efforts to secure offshore funding for the rehabilitation of the refineries proved ...

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FAAN To Commence Rehabilitation Of Enugu Airport Runway

Reps To Probe Collapse Of Enugu Airport Runway

The Managing Director, Federal Airports Authority of Nigeria (FAAN) , Capt. Hamisu Yadudu has said FAAN will soon commence a complete rehabilitation of the Akanu Ibiam International airport, Enugu runway as the Federal Ministry of Aviation and its consultants have ...

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Koffi Emerges New PMAWCA Secretary General

Koffi Emerges New PMAWCA Secretary General

The Ports Management Association in West and Central Africa (PMAWCA) has elected Mr. Jean Marie Koffi, as the new Secretary General of the body. Mr. Koffi who is from the Port of Abidjan, Cote D’voire, defeated two other contestants, IliyasuIdrisu ...

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MAN, CIBN rally support for clamp­down on smugglers

MAN, CIBN rally support for clamp­down on smugglers

• Say CBN freezing of culprits’ accounts will boost diversification drive  Real sector operators and the banking industry have rallied support for the recent clampdown of smugglers by the Central Bank of Nigeria (CBN), as it prepares to freeze the ...

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Shareholder group criticises new recapitalisation directive

Government insists on recapitalisation of insurance industry

Shareholders under the aegis of the Independent Shareholders Association of Nigeria (ISAN) have condemned the new capital regime for insurance industry recently announced by the National Insurance Commission (NAICOM) just as they are making efforts to protect their investments in ...

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‘New NNPC appointments to spur reserves’ increase, reforms’

Saudi refinery attack shocking –NNPC

Stakeholders in the oil and gas sector have expressed confidence in the appointment of a new management team for the Nigerian National Petroleum Corporation (NNPC), describing it as a move to shore up reserves and reposition the corporation. Petroleum Technology ...

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UN tasks Nigeria on entrepreneurship, job creation

UN tasks Nigeria on entrepreneurship, job creation

While many countries have already harnessed demographic dividend, Nigeria, among other Africa countries, still lag behind, the United Nations Population Fund (UNFPA), has said.UNFPA disclosed that the population of the world has doubled in the last 43 years, moving from ...

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Telecos take NCAA to federal government over mast demolition plan

Telcos Decry Abuja Land Restriction, Seek Intervention

Telecommunications operators in the country have urged of the federal government to call the Nigerian Civil Aviation Authority (NCAA) to order over its threat to decommission telecoms masts around airports. Association of Licensed Telecommunications Operators of Nigeria (ALTON) said any ...

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Buhari removes Baru, appoints Kyari as NNPC GMD

Buhari removes Baru, appoints Kyari as NNPC GMD

President Muhammadu Buhari has appointed Mr. Mele Kolo Kyari as the new Group Managing Director of the Nigerian National Petroleum Corporation, bringing to an end the tenure of Maikanti Baru, as the oil firm’s boss. NNPC’s Group General Manager, Group ...

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FG nets N3.7tr against CBN in five year operations

BDC operators seek cut in cashless processing fees

Apex bank refutes reports on transactions with govt as mischief The Federal Government emerged the highest claimant against the Central Bank of Nigeria (CBN), in a two-way financial activity in the last five years, netting N3.7 trillion. According to a ...

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FAAN, state government to tackle encroachment at Enugu airport

FG approves N10 billion for Enugu airport repairs

The Federal Airports Authority of Nigeria (FAAN) and the Enugu State government have entered into a collaboration to effectively tackle encroachment and illegal occupants around Akanu Ibiam International Airport, Enugu. The pact was sealed yesterday after the tour of the ...

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How Nigeria, others lose $4.2tr savings over poor infrastructure, by World Bank

How Nigeria, others lose $4.2tr savings over poor infrastructure, by World Bank

The cost of not investing in strategic infrastructure may not only pose challenge to ease of doing business, but also Nigeria and other economies classified as low and middle-income countries of potential savings estimated at $4.2 trillion. The World Bank ...

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NERC moves to address 57% meter deficit

NERC moves to address 57% meter deficit

Nigerian Electricity Regulatory Commission (NERC) says it has instituted measures to accelerate adequate metering of Nigerians. The chairman, Prof. James Momoh, said that the move would help in bridging the existing gap of 5,046,906 against 8,840,801 customers, which represents 57 ...

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Refineries N141b losses surpass allocations to critical sectors

Refineries N141b losses surpass allocations to critical sectors

•Stakeholders insist on assets commercialisation  Refineries operated by the Nigeria National Petroleum Corporation (NNPC), recorded deficits running into N141billion within 13 months, between January 2018 and January 2019. Indeed, the sum is capable of addressing capital projects in critical sectors ...

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Eterna seeks downstream deregulation, to expand operations

Eterna seeks downstream deregulation, to expand operations

Citing the Nigerian National Petroleum Corporation (NNPC’s) interference in the downstream sector as propelling unfavourable competition with other players, thus leading to the unpredictability in the market, Eterna Plc has urged the Federal Government to deregulate the sector, even as it unveiled ...

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Neconde secures $640m refinancing deal to drive oil production

Non-passage of PIB, regulations drag about $100b oil projects

A consortium of seven local and international lenders has signed an agreement to refinance Neconde Energy Limited’s existing Senior Secured Medium-Term Loan Facility Agreement worth $640 million, following a 20-year renewal of its Oil Mining Licence (OML), effective June 2019. ...

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Stakeholders canvass support for renewable energy to tackle pollution

Stakeholders canvass support for renewable energy to tackle pollution

To mitigate the effects of air pollution, experts have called for the use of renewable energy solutions. Indeed, they argued that governments, industries, communities, and individuals should come together and explore renewable energy and green technologies to improve air quality ...

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Bearish sentiments drag stock market index further by 0.4%

Profits Of Consumer Goods Firms Drop By N38bn

The reign of bears continued unabated on the trading floor of the Nigerian Stock Exchange (NSE), as more bellwether stocks depreciated in price, resulting to a further decline in the All-share index by 0.4 per cent. Yesterday, the All Share ...

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Seme customs command intercepts 175 bales of smuggled textiles

Nigeria’s Land Border Confusion: Why FG Closed Land Borders

  The Seme Command of the Nigeria Customs Service (NCS), yesterday announced the seizure of 175 pieces of textiles materials worth N2.2 million smuggled into the country from Benin Republic. The Customs Area Controller (CAC), Compt. Uba Mohammed, who paraded ...

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