#Economy: FG unveils plan to promote
Nigerian cuisine abroad
The Federal Government has unveiled plan to generate more
revenue for the country by promoting patronage of Nigerian cuisine and menus in
foreign country. The plan is part of the Nigeria Diaspora Export Programme,
which was developed by the Nigerian Export Promotion Council.
Published
by the Punch Newspaper on Sunday, 27th March 2016
#Power: Power generation drops
further to 2,035.20MW
Despite getting 66.53 per cent of the total amount of
domestic gas supply for one year, Nigeria’s electricity generation has remained
low. Figures obtained on Friday (5:21pm) by our correspondent from the
country’s Power System Operators indicated electricity generation had dropped
further to 2,035.20 mega watts
Published
by the Punch Newspaper on Sunday 27th March 2016
#Oil: High oil cost raises fear of
petrol price hike
A fresh increase in the pump price of Premium Motor Spirit
(petrol) may be imminent following the latest rise in the global oil prices,
which has pushed the cost of petroleum products up. And should the Federal
Government retain the current prices of fuel, the nation may witness the return
of subsidy on the products.
Published
by the Punch Newspaper on Sunday 27th March 2016
#Oil: Oil price slump reduces
sector’s output by N3.6tn
The massive
drop in oil prices impacted negatively on the performance of the Nigerian oil
and gas sector, which recorded a decline of N3.6tn in output in the 2015 fiscal
period. A report showing the performance of the sector which was obtained by
our correspondent from the National Bureau of Statistics, revealed that in
monetary terms, the sector recorded a huge decline of 37.5 per cent from
N9.61tn in 2014 to N5.99tn at the end of last year.
Published by the Punch Newspaper on
Tuesday, 29th March 2016
#Power: Shell
increases gas production to boost power generation
The Shell
Petroleum Development Company of Nigeria Limited Joint Venture on Monday
announced an increase in its gas production from the Agbada field in the
eastern Niger Delta. The Company, in a statement signed by its Corporate Media
Relations Manager, Precious Okolobo, said the increased production was in
support of the Federal Government’s aspiration of raising domestic gas
production for manufacturing and power generation.
Published by the Punch Newspaper on
Tuesday, 29th March 2016
#MSMEs: MSMEs have lost N30bn to fuel
scarcity-ACCI
About N30bn
has been lost by Micro, Small and Medium-scale Enterprises in the last 30 days
owing to the persistent fuel scarcity being experienced across the country. The
President, Abuja Chamber of Commerce and Industry, Mr Tony Ejinkeoye, gave the
figure in a statement issued in Abuja on Monday.
Published by the Punch Newspaper on
Tuesday, 29th March 2016
#Infrastructure: FG should consider
private equity for infrastructural development
The managing
director, Cowry Asset Management Limited, Mr Johnson Chukwu, has said the
Federal Government should look at using private equity funds to drive
infrastructural advancement especially in the power sector.
Published by the Punch Newspaper on
Tuesday, 29th March 2016
#Economy: Forex scarcity may cause
massive unemployment
The Federal
Government has been advised to urgently address the lingering foreign exchange
scarcity problem in the country to forestall massive job losses. While a long
term plan of developing alternative forex sources is required, a short to
medium-term plan targeted at tackling the existing dollar shortage is
inevitable.
Published by the Punch Newspaper on
Tuesday, 29th March 2016
#Empowerment: Stanbic IBTC boosts
savings culture with Contract Save
Stanbic IBTC
has reiterated the need for a strong savings and investment culture among
Nigerians. The bank said it has developed a bouquet of products to strengthen
the savings and investment culture in the country.
Published by the Daily Sun Newspaper
on Tuesday, 29th March 2016
#Empowerment: 6.17m jobs created by
N1.5trn CBN intervention fund
Recent data
from the Central Bank of Nigeria (CBN) has shown that it created about 6.17
million jobs through the various intervention funds to different sectors of the
economy. According to the data, the combined impact of the Agricultural Credit
Guarantee Scheme Fund (ACGSF) flagged-off in April 1978 and the Commercial
Agriculture Credit Scheme (CACS) established in 2009, have led to the creation
of 6,178, 132 in the Nigerian economy.
Published by the Daily Sun Newspaper
on Tuesday, 29th March 2016
#Power: Operators seek govt’s
guarantee for $40b facility to stabilise electricity
Players in
the Nigerian power sector yesterday said $40 billion (about N90 trillion) was
required to guarantee a 20,000 megawatt (MW) electricity supply in parts of the
country. According to them, the sum was to boost sectoral investment and
strengthen the networks across the three-level value chain of generation,
transmission and distribution in the medium term.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#Health: NSE, CECP plan to set up
cancer centre in Nigeria
The Nigerian
Stock Exchange (NSE), in collaboration with the Committee Encouraging Corporate
Philanthropy in Nigeria (CECP), has concluded plan to acquire Mobile Cancer
Centre (MCC) in the country.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#Empowerment: Rotary Club of Ikeja
trains youths on vocations
In line with
its mission to reduce poverty by empowering its immediate community, the Rotary
Club of Ikeja has sponsored five youths from Agidingbi, Ipodo market and
Olusosun communities for a six-week vocational training programme.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#Business: Nigerian firms acquires
Mart Resources of U.K. in $89.2m deal
Nigerian-based
Mid-western Oil and Gas Company has sealed an agreement to acquire Mart
Resources Incorporation of the United Kingdom (U.K.) in what analysts described
as a veritable bailout option for the financially distressed British firm.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#Industry: Forum raises concern over
porous online culture in Nigeria
Porous online
culture in Nigeria has become a source worry to stakeholders in the Nigeria’s
Information and Communication Technology sector. Gathered at the Signal
Alliance IT Security Roundtable in Lagos, the stakeholders advocated for a
national consciousness that will ensure Nigerian businesses, institutions and
individuals going online to enjoy the great benefits of a truly online nation.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#Innovation: Intel drives new
computer, Internet adoption
To further
drive the adoption of Information and Communication Technology in Nigeria,
Intel Corporation has announced an initiative that will see it educate and
provide more accessible and affordable technological solutions to Nigerians.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#Economy: EU, OPEC worry as low oil
prices crash investments
The European
Union (EU) and the Organization of the Petroleum Exporting Countries (OPEC)
were apparently, uncomfortable with the current trends of crude oil prices
which has significantly crashed major investments in the sector.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#Economy: NNPC’s fuel import reform
scheme reduces U.S. petrol export to Nigeria by 10,000bpd
The United
States (U.S.) exports of gasoline to Africa decreased by 28,000 barrels per day
(bpd) in 2015, compared with 2014 due to lower exports to Nigeria, one of
Africa’s largest fuel importers.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#IndustryPulse: PwC canvasses review
of transportation logistics
Transportation
and logistics sectors are due for ‘disruption’, Pricewaterhouse Coopers has
said in its new report. Meanwhile, the International Maritime Organization
(IMO) in partnership with the International Oil Pollution Compensation Funds
(IOPC Funds) and the International Tanker Owners pollution Federation (ITOPF)
is urging its member states to ratify and implement a key compensation treaty
covering the transport of hazardous and noxious substances (HNS) by ship.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#IndustryPulse: BoI stakes N24.8b on
54 enterprises in Q1 2016
To further deepen its intervention to enterprises in the real
sector, the Bank of Industry has approved N24.8 billion worth of loans to 54
enterprises across six sectors within the first quarter of 2016. Besides, the
bank has also launched a N10 billion facility for lending under its Youth
Entrepreneurship Support (YES) programme to intensify its youth empowerment effort
and improve small businesses’ access to its facilities.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#Oil #Investment: NLNG’s FID taken on
$20/b oil price –Omotowa
Managing Director of Nigeria LNG Limited, NLNG, Mr Babs
Omotowa, says the rapid oil price decline should not deter strategic
multi-billion dollar investments in oil and gas projects in Nigeria and Africa,
maintaining that there could be no better time for such investments. Citing the
example of the NLNG, he said final investment decision for the project was
taken on an oil price level of $20.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#Power: Govt sets new target of
25,000MW of electricity by 2020
In line with a culture from the past governments, the federal
government has announced a new power generation target of 25,000 megawatts (MW)
by the year 2020. This, however, is despite the fact that power firms in the
country are struggling to generate and sustain 4000MW of electricity after the
sector was privatised in November 2013.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#IndustryPulse: PETAN elects new officers
The Petroleum Technology Association of Nigeria, PETAN- the
Nigerian oil industry’s oldest association has elected new officers to pilot
the affairs of the association in the next four years. The new officers elected
at the association’s recent annual general meeting of the association in
Port-Harcourt include the chairman, Mr Bank-Anthony Okoroafor.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#Oil: Oil prices, drop in royalty
force govts revenue down N20bn
Nigeria recorded a shortfall of N20.47 billion in gross
statutory revenue, from N290.96 billion in January to N270.49 billion in
February due to oil prices decline and drops in income from oil and gas
royalty, companies’ income tax and import duties.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#Environment: NLNG reiterates
commitment to clean environment in Niger Delta
The Nigeria LNG Limited, NLNG, says it remains committed to
its operational standard of a clean and safer environment in the Niger Delta
region. The company said in a statement that rather than pollute the
environment of its operational area as alleged in a recent report, it adheres
to strict standards of cleanliness in the oil-rich region.
Published by the Guardian Newspaper
on Wednesday, 30th March, 2016
#Agric: Fed Govt plans
self-sufficiency in rice production for 2018
The federal government plans self-sufficiency in rice
production for 2018, Minister for Agriculture, Audu Ogbeh said yesterday.
Speaking at the Eighth Tinubu Colloquium in Abuja, he said: “We intend to
achieve self-sufficiency in tomato paste by the end of this year and in rice,
maize and soya beans by the end of 2018 as well as wheat by 2019.
Published by the Nations Newspaper on
Wednesday, 30th March 2016
#Awards: Student wins global
entrepreneur award
A 300 level
Computer Science student of Michael Okpara University of Agriculture, Abia
State and founder of Hoursspent.com, Miss Blessing Ijoma, 24, has emerged
winner of the Global Student Entrepreneurs Award (GSEA) competition.
Published by the Nations Newspaper on
Wednesday, 30th March 2016
#Empowerment: Lagos train youths on
employment
The Lagos
State Ministry of Wealth Creation and Employment has commenced its training programme
for the unemployed youths. The programme is meant to develop employability
skills and job opportunities among youths.
Published by the Nations Newspaper on
Wednesday, 30th March 2016
#MSMEs: Fidelity Bank votes N30bn for
export financing
Fidelity
Bank Plc has set aside N30 billion to promote Small and Medium Enterprises
(SMEs) and their value-chains involved in export financing, its Managing
Director/CEO Nnamdi Okonkwo, has said.
Published by the Nations Newspaper on
Wednesday, 30th March 2016
#Health: WHO downgrades Ebola health
risk
Ebola is no
longer an “extraordinary health event” and the risk of the virus spreading is
low, the World Health Organization says. It means the disease is not thought to
be a significant public health threat to countries outside of those affected in
West Africa.
Published by the Nations Newspaper on
Wednesday, 30th March 2016
#Economy: Nigeria, China, to enhance
relations under new plan
China says it will develop modalities to enhance bilateral
relations with Nigeria under the new cooperation plan of the 2015 Forum of the
China Africa Cooperation (FOCAC) Summit. Chinese Ambassador to Nigeria, Mr Gu
Xiaojie, said this at the 2016 China Nigeria Trade and Economic Forum in Abuja
yesterday.
Published
by the Daily Trust Newspaper on Thursday 31st March 2016
#Stakeholdersaction#Health: Health
workers split ahead of planned strike
A splinter group has dissociated itself from the 14-day
strike ultimatum given to the Adamawa State Government by the Medical and
Health Workers Union of Nigeria (MHWUN).
Published
by the Daily Trust Newspaper on Thursday 31st March 2016
#Industry: GM cotton to provide
500,000 jobs- Textile manufacturers
More than 500,000 Nigerians would be employed in the textile
industry when the Genetically Modified cotton is finally released into the
market, Nigerian Textile Manufacturers Association has said.
Published
by the Daily Trust Newspaper on Thursday 31st March 2016
#Agric: Nigeria can save N127bn from
cassava- Bakers
Nigeria can save N127 billion annually if it sustains the
inclusion of 20 per cent of cassava flour in bread production, chairman of the Borno
chapter of the Association of Master Bakers and Confectioners of Nigeria, Mr
Dominic Daniel has said.
Published
by the Daily Trust Newspaper on Thursday 31st March 2016
#Education: UNESCO distributes
e-books to teachers
The United
Nations Educational Scientific and Organization (UNESCO) has distributed
teaching and learning materials including e-books to students and teachers in
the FCT.
Published
by the Daily Trust Newspaper on Thursday 31st March 2016
#Oil: OPL 245: Italian police raid
Shell Headquaters
Royal Dutch
Shell has finally been put under formal investigation by the Milan Public
Prosecutor’s office for alleged corruption offences relating to Nigeria’s
offshore block, Oil Prospecting Licence (OPL) 245 deal.
Published by the Leadership Newspaper
on Thursday 31st March 2016
#Energy#Empowerment: NGO trains rural
women in production of Energy Saving Stoves
A
non-governmental organization (NGO) known as Foundation for Economic
Empowerment and Educational Development (FEED) has trained women in Chukuku
community of Kuje Area Council in Abuja on the production of energy saving
cooking stoves.
Published by the Leadership Newspaper
on Thursday 31st March 2016
#Investment: FG seeks Chinese
investment in Communication
The Minister
of Budget and National Planning, Udo Udoma has called on China to invest more
in the Nigeria’s Communication industry so as to ensure continued partnership
between both nations.
Published by the Leadership Newspaper
on Thursday 31st March 2016
#StakeholdersAction: Chevron’s GMoU
has benefitted Niger Delta region
The Global
Memorandum of Understanding (GMoU) pioneered by the NNPC/Chevron Joint Venture
has been described as a unique collaborative initiative that has contributed to
the development of the Niger Delta Region.
Published by the Leadership Newspaper
on Thursday 31st March 2016
#Empowerment: NCWD’s ‘Nigerian Women
in Politics’ Project takes off
The National
Centre for Women Development in collaboration with the National Bureau of
Statistics is set to dispatch field research officers on the collation of
sex-disaggregated data on the involvement and participation of the Nigerian
Women in politics, from 1999 to date project. At the end of the 2-day training
exercise for the field officers, in Abuja yesterday, the acting director
general of NCWD, Mallam Abdulmalik Dawuda clarified that the exercise, which
will provide a baseline for the implementation of Goal 5 of the sustainable
development goals will cut across 36 states of the federation and the Federal
Capital Territory and will provide quantitative as well qualitative data that
will serve as advocacy tool for the pursuit of 35 per cent affirmative action
for women in decision making positions in Nigeria, among other paybacks.
Published by the Leadership Newspaper
on Thursday 31st March 2016
#Energy: Bida Poly Rector promises
revival of Solar Energy Research Centre
The Rector,
Federal Polytechnic Bida, Dr Abubakar Dzukogi has pledged reviving the solar energy
research centre of the institution. He made the pledge while on an inspection
tour of the centre recently.
Published by the Leadership Newspaper
on Thursday 31st March 2016
#Oil: Chevron, BP Plc cancels $100bn
oil investment
The
International Energy Agency (IEA) has expressed fear that the crashing oil
price could possibly lead to oil security surprises in the future. The agency said
already, Chevron Corporation and BP Plc are cancelling more than $100 billion
in investments.
Published by the Leadership Newspaper
on Thursday 31st March 2016
#Economy: Nigeria to comtribute over
25% to Africa’s GDP by 2020
Africa’s
biggest economy, Nigeria, is to contribute 25 per cent to the continent’s
economic growth in the next four years. According to new report, the country’s
contribution is benchmarked at an average rate of 4.8 per cent yearly leading
to year 2020
Published by the Guardian Newspaper
on Friday 1st April, 2016
#Industry: Operators bemoan low
contribution of 22 airports to economy
Some operators
in the aviation industry have expressed worries over the poor contribution of
the country’s 22 airports to the Gross Domestic Product (GDP). The contribution
of the airports has been put at a mere 2 per cent, a development that has made stakeholders
in the sector to call privatization of the entire 22 airports to make them
perform optimally and also contribute maximally to the GDP.
Published by the Guardian Newspaper
on Friday 1st April, 2016
#Oil: NEPC, PHCCMA partner on non-oil
export promotion
The Nigerian
Export Promotion Council (NEPC) has expressed commitments towards advocating
better policies on promotion of exports while improving measures in creating an
enabling business environment for the private sector to thrive.
Published by the Guardian Newspaper
on Friday 1st April, 2016
#Oil: NNPC targets 650,000bpd
refining capacity, opens bids for co-location of plants
In its bid to reduce fuel importation in the foreseeable
future, the Nigerian National Petroleum Corporation (NNPC) has said that nine
companies have submitted bids for the co-location of new refineries within the
complexes of its three existing refineries in Kaduna, Warri and Port Harcourt.
Published by the Guardian Newspaper
on Friday 1st April, 2016
#Investment: World Bank to spend
$800m in rebuilding N’East
The World Bank is setting aside $800 million in support of
the rebuilding of infrastructure devastated by years of Boko Haram insurgency
in the North East. The United Nations (UN) Resident and Humanitarian
Coordinator, Fatma Samoura, who disclosed this yesterday, stated that the
globam body was increasing its presence in Borno and other Northeastern States
devastated by insurgency.
Published by the Guardian Newspaper
on Friday 1st April, 2016
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