BY GODWIN OBI The Nigerian National Petroleum Company (NNPC) Limited has secured a $3 billion Emergency Crude Repayment Loan from African Export-Import Bank (AFREXIM) Bank. In a short statement disclosing the deal, the NNPC said the commitment letter, which was signed at AFREXIM Bank’s headquarters in Cairo, Egypt on Wednesday,Continue Reading
The list of 45 ministers was released in a statement made available to newsmen President Bola Tinubu has released the portfolios for the 45 confirmed ministerial nominees with former Rivers State governor Nyesom Wike in charge of the Ministry of Federal Capital Territory (FCT) and Festus Keyamo manning the MinistryContinue Reading
BY GODWIN OBI In line with the mandate of the Nigerian Maritime Administration and Safety Agency, NIMASA, which includes safe shipping and cleaner oceans, a team comprising of Search and Rescue and marine accident investigation officers have been dispatched to the scene of the incident involving the Majestic Rig belongingContinue Reading
…Company Expresses Sadness, Condoles Families, Pledge to invest BY OUR REPORTER Yesterday, an oil rig operated by Seplat Energy Limited collapsed in which many workers are feared dead, with some still missing as at night fall. But the management of Seplat Energy has said only one worker died while threeContinue Reading
CENTRAL BANK OF NIGERIA BY GODWIN OBI The Central Bank of Nigeria, CBN has announced plans to reverse the slide of the Naira through various measures that will be unveiled in the next few days. The Acting Governor of the apex bank, Folashodun Shonubi, gave the hint on Monday whileContinue Reading
BY GODWIN OBI The West African bloc ECOWAS yesterday lashed threats by Niger’s military rulers to prosecute ousted president Mohamed Bazoum, saying this contradicted the regime’s declared willingness to resolve the crisis peacefully. The coup leaders who toppled Bazoum said late Sunday they had gathered evidence enabling them to prosecuteContinue Reading
The leadership of the Nigeria Labour Congress (NLC) has warned that it will embark on a nationwide indefinite strike should the Federal Government allow another hike in the price of petrol amid the ongoing negotiations with the government. The Federal Government-owned Nigerian National Petroleum Company Limited (NNPCL) has repeatedly increasedContinue Reading
•Marketers blame sustained rise in crude oil price, exchange rate BY GODWIN OBI There are strong indications that pump price of petrol is expected to record another round of increases, the third within 10 weeks as oil marketers hint that the landing cost of petrol has risen month-on-month, MoM, byContinue Reading
BY GODWIN OBI The immediate implementation of the thirty thousand Naira minimum wage in the Taraba State civil service has been approved by the government, in a bid to ease the economic crunch on the citizens of the state. Governor Agbu Kefas announced this, as well as other palliative measuresContinue Reading
BY GODWIN OBI Niger’s military regime vowed late Sunday to prosecute ousted President Mohamed Bazoum for “high treason” and slammed West African leaders for imposing sanctions on the country. The Economic Community of West African States (ECOWAS) imposed sanctions on Niger in response to the coup and has not ruledContinue Reading