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Otedola asks top First Bank official to resign over 'wasteful party'
Business

How Tony Elumelu took my UBA, Transcorp shares – Otedola

Billionaire businessman, Femi Otedola, on Tuesday morning, went down memory lane on his relationship with Tony Elumelu and his plans for Transcorp before he opted out because his bid was rejected.   Otedola noted that he offered to acquire Transcorp Plc for N250 billion and take the company’s market capitalisation to N2 trillion but his […]

Why insurance sector needs repositioning - FG
Insurance

Why West Africa’s insurance sector needs upgrade – Finance Minister

Nigeria’s Minister of Finance, Dr. Zainab Ahmed, has urged insurance stakeholders in West Africa to update their operations in order to take advantage of the African Continental Free Trade Agreement and expedite intra-African trade. According to Nairametrics, the Minister made this announcement on Monday during the “Repositioning Insurance Industry in West Africa for Global Competitiveness” […]

Tony Elumelu Foundation to support female farmers
featured Opinion

Investing in Africa’s power sector’ll alleviate poverty – Elumelu

The Chairman of Heirs Holdings, Tony Elumelu, has called on the private sector stakeholders to ensure adequate investments in Africa’s power sector in order to alleviate poverty.   Elumelu, who is also the chairman of Transcorp Power Limited, made this statement on Monday, while receiving the discharge certificate of the Ughelli power plant.   The […]

President, Major General Muhammadu Buhari (retd.) Signing a document
Appointments

Buhari directs NUPRC to supervise all crude oil export terminals

The President, Major Muhammadu Buhari (retd.), has directed the Nigerian Upstream Petroleum Regulatory Commission to take over the supervision of all crude oil export terminals in the country.   According to The Cable, the presidential directive is contained in a letter, dated May 3, with reference number SH/COS/24/A/78, sent to Gbenga Komolafe, chief executive officer […]

Osinbajo hands Transcorp certificate of discharge
Business featured

Osinbajo hands Transcorp certificate of discharge

Vice President Yemi Osinbajo on Monday presented a discharge certificate to the chairman of Transcorp Power Limited, Tony Elumelu, who is the major investor in the Ughelli Power Plant. The Punch reported that during this presentation which was held in Abuja, Osinbanjo highlighted the need for significant private-sector investment in Nigeria’s power sector to meet […]

NSIB, NCAA launch investigation into Max Air plane incident
Aviation

NSIB, NCAA launch investigation into Max Air plane incident

The Nigerian Safety Investigation Bureau as well as the Nigeria Civil Aviation Authority have launched an investigation into the immediate and remote causes of the Max Air aircraft mishap, which occurred on Sunday afternoon at the Nnamdi Azikiwe International Airport in Abuja. Nairametrics reported that with 144 passengers and six members of the flight crew on board, […]

Airport security makes five arrests daily - FAAN
Aviation

FAAN begins registration for Aviation conference

The Federal Airports Authority of Nigeria is billed to hold its annual National Aviation Conference between May 15 and 18.   Registration for the conference has also begun at conference.faan.gov.ng.   The conference, which is tagged: “Sustainability of the Aviation Industry in Nigeria”, would be held at the International Conference Centre, Area 11, Central Area, […]

World Bank punishes Nigerian firms, individuals for corruption
Business

Fuel subsidy: Civil society question $800m palliative loan

The Civil Society Legislative Advocacy Centre has questioned the over $800 million loan obtained by the Federal Government from the World Bank as palliative measures to cushion the effects of the proposed fuel subsidy removal scheduled for June 2023. According to The Punch, this was in a statement released by the Executive Director of CISLAC, […]

Edo refinery orders 200,000 barrels of crude
featured

Edo refinery orders 200,000 barrels of crude oil

    A contract for 200,000 barrels of crude from the Oza Oil Field, which is run by Decklar Resources Inc. and Millenium Oil and Gas Company, has been placed by Edo Refinery and Petrochemicals Company Limited. It stated that this was consistent with the efforts of Edo State Governor Godwin Obaseki to make the […]

Minister of Labour and Employment, Chris Ngige
Business

Nigerians will not die of economic hardship – Ngige

The Minister of Labour and Employment, Chris Ngige, has stated that Nigerians will not die but adapt to the economic hardships in the country. In a statement issued on Sunday, he noted that economic hardships were not unique to Nigeria, but a global phenomenon caused by the COVID-19 pandemic and other economic crises. Ngige who […]

Business

Akwa Ibom surveyors demand clarity on land acquisition functions

The Nigerian Institution of Estate Surveyors and Valuers in Akwa Ibom State has requested the government of the state to clarify the functions of the Ministry of Lands/Water Resources and the Ministry of Works regarding land acquisition and payment of compensations. The institution expressed disappointment in the Ministry of Works for taking over the responsibilities […]