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Power generation drops by 1,835.6MW in 3 days

The total quantum of electricity on the nation’s power grid crashed by 1,835.6 megawatts within a period of three days.

NAAPE threatens strike over Aero’s non-payment of ex-workers

The National Association of Aircraft Pilots and Engineers (NAAPE) has threatened to embark on nationwide strike over the non-payment of redundancy benefits to workers that were laid off from Aero Contractors.

Fed govt offers monthly Savings Bond at 14.54 per cent

The Federal Government will today (Monday) offer for subscription two-year and three-year Savings Bonds to investors at 13.54 per cent and 14.54 per cent, respectively.

Arik faces maintenance challenges over paucity of funds

Nigeria’s biggest carrier, Arik Air, is facing maintenance and safety challenges as it has failed to ferry its aircraft that are due for various categories of checks overseas for maintenance.

Fast-track manufacturing sector growth – expert tells govt

A financial expert, Prof. Sheriffdeen Tella, has urged the Federal Government to fast-track the growth of the manufacturing sector through the provision of infrastructure and the provision of credit.

Manufacturers spent N129.95bn on power in 2016 – report

The instability in electricity supply from the national grid has continued to make businesses to look inwards through independent power generation, a new report has said.

Banks move to stabilise 9mobile ahead of sale

The 9mobile creditor banks are said to be trying to stabilise the business of the troubled country’s fourth largest telecoms group, until they can find new investors, First Bank said, adding that it saw no need to impair loans made to the company, because of its cash flows.

Fed govt targets 500,000mt cocoa production by 2021

As part of its diversification agenda, the Federal Government has set plans in motion to boost the nation’s cocoa production capacity to about 500,000 metric tonnes by 2021.

N110bn debt: Skye Bank seeks to take over Omokore’s oil wells

The management of Skye Bank Plc is seeking to take over some oil wells belonging to Jide Omokore, a businessman involved in some corruption cases within and outside Nigeria saying Omokore is indebted to it to the tune of about N110bn at an exchange rate of $1/N315.

Bird strike forces Medview Airline to abort flight at Ilorin airport

A Saudi-bound flight operated by Medview Airline was on Saturday night aborted at the Ilorin Airport due to bird strike.

Nigeria does not need national carrier – Med-View chief

The Managing Director/Chief Executive Officer of Med-View Airline, Alhaji Muneer Bankole, has advised the Federal Government to privatise existing 27 airports in the country, adding that Nigeria does not need a national carrier.

Operator laments inadequate infrastructure in maritime industry

Dr Taiwo Afolabi, the Executive Vice Chairman of SIFAX Group, has urged the Federal Government to provide solutions to the huge infrastructure deficit in the maritime sector.

AMCON patners EFCC against bank staff who facilitated bad loans

The Asset Management Corporation of Nigeria (AMCON) says it is collaborating with the Economic and Financial Crimes Commission (EFCC) to go after bankers who facilitated the huge non-performing loans in AMCON’s portfolio.

US economy adds 209,000 jobs in one month

Those hoping that the US dollar would be thrown a lifeline may be in luck, following the news that the United States added another 209,000 jobs to its economy in July.

Forte Oil in talks on refinery deal to boost capacity

Nigeria's Forte Oil said on Friday it was in talks with a major refinery to form a strategic partnership for local refining of petroleum products in Africa's top oil exporter, its chief executive said.

NIMASA introduces new cabotage policy

The Nigerian Maritime Administration and Safety Agency (NIMASA) said it had introduced new Cabotage Compliance Strategy (NCCS) for a successful coastal and inland trade regime.

Ambode seeks NERC’s approval for 3,000MW power project

Lagos State Governor, Mr. Akinwunmi Ambode, on Friday sought a no objection letter from the Nigerian Electricity Regulatory Commission (NERC) for the State Government’s Embedded Power Programme.

Transparency: Auditor-General commends NNPC

The Auditor-General for the Federation, AGF, Anthony Ayine, on Friday commended “the practical efforts’’ of the present NNPC management in ensuring probity, accountability and transparency in its operations.

Recent Stories

Cultists kill final year student of CRUTECH

A final year student of the Cross River State University of Technology (CRUTECH) was brutally killed on Monday morning.

Delta APC mocks O’tega Emerhor on failed case against party, Senator Omo-Agege

The Delta State chapter of the All Progressives Congress (APC) Monday mocked a leader of the party in the state, Olorogun O’tega Emerhor, following failed court cases he filed against the party through an executive faction led by Cyril Ogodo.
France is creating a G7 task force to study how central banks ensure cryptocurrencies like Facebook’s Libra are governed by regulations ranging from money-laundering laws to consumer-protection rules, France’s central bank governor said on Friday.

Facebook tells US Congress how it thinks its cryptocurrency Libra should be regulated

Facebook will not launch the cryptocurrency Libra until it has “fully addressed regulatory concerns,” according to David Marcus, the head of Facebook’s Calibra. The remarks are prepared testimony he plans to give tomorrow, in front of the US Senate Banking Committee.
A graduate of Insurance from the Polytechnic, Ibadan, Oyaremi Olabode, was on Monday convicted of criminal impersonation and sentenced to four months in prison.

Ibadan polytechnic graduate jailed for impersonation

A graduate of Insurance from the Polytechnic, Ibadan, Oyaremi Olabode, was on Monday convicted of criminal impersonation and sentenced to four months in prison.
The Speaker of the House of Representatives, Femi Gbajabiamila, has approved the appointment of Olarewaju Lasisi as his senior special adviser on media and public affairs. 3

Insecurity: We’ll give special budgetary attention to Zamfara – Speaker Gbajabiamila

Speaker of the House of Representatives, Hon. Femi Gbajabiamila, has said that the 9th National Assembly would give special budgetary attention to the three Senatorial Districts of Zamfara State in order to resolve the issue of insecurity.