Days of Coups, Revolution Over – Buhari
President Muhammadu Buhari at the weekend dismissed calls for protests, billed for today, and being championed by Global Coalition for Security and Democracy in Nigeria, saying the days of coups and revolution are long gone. Click here for more.
Nigeria security agents arrest activist for calling for revolution
Nigerian security agents arrested Omoyele Sowore, an activist, news organisation founder and former presidential candidate who was calling for revolution, the security agency said on Sunday. Click here for more.
Fiscal challenges reign as ministers’ appointments remain ‘mystery’
That the country is currently facing multiple challenges is not in denial.These challenges range from high unemployment rate, economic growth, infrastructure deficit, inflation, impaired revenue earnings capacity, to questionable pattern of budget implementation, which has not really added to the stock of capital investment. Click here for more.
NNPC says no plan to relocate ‘Nigerian Gas Company’
The Nigerian National Petroleum Corporation (NNPC) has dismissed reports that it plans to relocate the headquarters of the Nigerian Gas Company (NGC), a subsidiary of the corporation, from its present location in Ekpan, Delta State to somewhere outside the region. Click here for more.
NNPC Explains Increase in Price of Kerosene
The Nigerian National Petroleum Corporation (NNPC) has attributed the increase in the price of household kerosene in the country to the pressure of demand and supply. This is coming as the corporation has said it has no plan to relocate its subsidiary, Nigerian Gas Company (NGC), outside the Niger Delta region. Click here for more.
N3.6bn debt: AMCON takes over firm’s assets
The Asset Management Corporation of Nigeria has taken over Bao Yao Futurlex Iron & Steel Company Limited in Abuja and Bao Yao Huan Jian Iron & Steel, Calabar, Cross River State. Click here for more.
AIPCC Energy’s modular refinery to commence operation
In order to meet the growing demand for crude oil products in the country, Edo Refinery and Petrochemicals Limited will commence operation as a 6,000 barrels per day (bpd) capacity modular refinery by October, this year (2019). Click here for more.
Insurer generates N25.4 billion gross written premium in half-year
AIICO Insurance Plc has posted a Gross Written Premium (GWP) of ₦25.4 billion in half-year of 2019, against N19.2 billion recorded in the same period in 2018, indicating 32 per cent increase.The Executive Director/Chief Operating Officer, Babatunde Fajemirokun, who confirmed this to The Guardian in Lagos. Click here for more.
Nigerian Insurers May Lose 72% of Dangote Refinery’s Risk, Others
Nigerian insurance firms may lose 72 per cent of the insurance business in the Dangote Oil Refining Company whose insured value has been put at $6.8billion to foreign insurers when the company becomes operational because of their low capital base. Click here for more.
How China Is Exploiting Nigeria With Greek Gifts, Economic Sabotage
With stakes worth billions of dollars in businesses ranging from agriculture to oil, gas, and construction, China’s Greek-gift economic assistance is increasing unemployment and worsening job creation in Nigeria. Thisday investigations revealed that China’s exploitative business model is hinged on economic sabotage and security breaches. Click here for more.
China Hits Back at Trump by Weakening Yuan, Halting Crop Imports
China responded to Donald Trump’s tariff threat with another escalation of the trade war on Monday, letting the yuan tumble to the weakest level in more than a decade and asking state-owned companies to suspend importsof U.S. agricultural products. Click here for more.