Business News

Warri Business Connect Berths In Delta State

A monthly magazine that gives businesses opportunity to connect across the Delta Warri – March 8, 2019: Gbaramatu Publishing Company Limited (GPLC), the leading media firm in Niger Delta of Nigeria today announced it would be expanding to magazine from weekly tabloid. The company, which prides itself on publishing factual stories, will publish “Warri Business

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Business

Currency Devaluation Impacting Africa’s Reinsurance Market Growth

Currency devaluation affects reinsurance market in Africa leading to big firms losing billions of dollars. Currency instability also distresses companies importing or exporting from countries in Africa. This has become a puzzle to stakeholders in the reinsurance sector and African countries experience depreciation upon using their foreign exchange reserves to come out of the conundrum.

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Business

Business booming for giant cargo planes

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Business Newsbeat

Climate change will cost world economy billions of dollars

Lorem ipsum dolor sit amet,sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, At vero eos et accusam et justo duo dolores et ea rebum. Lorem ipsum dolor sit amet, no sea takimata sanctus est Lorem ipsum dolor sit amet. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum

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Business Newsbeat

Why local US newspapers are sounding the alarm

Lorem ipsum dolor sit amet,sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, At vero eos et accusam et justo duo dolores et ea rebum. Lorem ipsum dolor sit amet, no sea takimata sanctus est Lorem ipsum dolor sit amet. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum

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Business Oil & Gas

NOG: Chevron’s boss calls for sustained investment in oil and gas

The Chairman/Managing Director, Chevron Nigeria Limited, Mr. Jeff Ewing has called for collaboration by all stakeholders for the achievement of sustained investment and growth in the oil and gas industry in Nigeria. Jeff, who made the call while contributing to the panel discussion on “Unlocking Nigeria’s Investment Potential,” at the Nigerian Oil and Gas (NOG) conference

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Business News

Impact of $40bn spent on Niger Delta minimal– Kachikwu

The amount of problems inherited by the current administration from the Niger Delta means that nothing literally was done in the region by past administrations, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said. He said although over $40bn had been pumped into the region in the past 15 years, the impact

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Business Oil & Gas

FG, oil firms plan N1.7tn investment in Niger Delta

The Federal Government on Monday announced that about N1.7tn would be invested by various stakeholders in the Niger Delta between this year and 2021. It said the fund would be spent on the development of the region, adding that about N50bn had been spent on the payment of stipends to ex-militants from the area. The

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Business Oil & Gas

Security challenges worry Shell over $15bn investment plan

In spite of security concerns in the Niger Delta, Shell Petroleum Development Company, SPDC, will later this year kick-start its expenditure plans on oil and gas projects worth $15 billion. On April 18, a delegation of Royal Dutch Shell, the parent company of SPDC, led by Ben van Beurden, Chief Executive Officer, CEO, met with

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Business Maritime

NIMASA, World Maritime Varsity sign MoU to develop maritime industry

The Nigerian Maritime Administration and Safety Agency (NIMASA), and   World Maritime University (WMU), Malmo, Sweden on Monday in Lagos signed a Memorandum of Understanding (MoU) to develop human capacity for the industry. NIMASA Head of Corporate Communications, Mr Isichei Osamgbi said Dr Dakuku Peterside, director-general of NIMASA signed on behalf of his organisation, while the President WMU, Mr Cleopatra Doumbia-Henry signed

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Business Oil & Gas

NNPC plans 4 oil wells drilling on Gongola Basin in 2018

The Nigerian National Petroleum Corporation (NNPC) said four oil and gas wells were being planned for drilling on the Gongola Basin to further test the prospects identified around the Kolmani River-1, Nasara-1 and Kuzari-1 in 2018. The corporation said the drilling of the wells would go on while it awaits the return of normalcy to

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Business National News

We’re now subsidizing petrol with N774m daily – NNPC

The Nigerian National Petroleum Corporation (NNPC) has said that it is now subsidising the supply of petrol to the tune of N774 million every day in view of the landing cost of the imported fuel and the regulated pump price in the domestic market. The development came few days after the NNPC refused a Freedom

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Business News

Innoson commences training for N’ Delta youths in automobile fitting

INNOSON Kiara Academy has commenced training of 200 Niger Delta youths in automobile fitting to meet the needs of the country’s labour market. The exercise was flagged off at the factory auditorium Nnewi, Anambra State with an induction programme for the participants drawn from different states. Endi Ezengwa, the chief executive officer of Innoson Kiara

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Business Oil & Gas

Senate commends Total’s $16bn Egina investment in Nigeria

Mr Solomon Adeola, the Chairman Senate Ad hoc Committee on Local Content, has commended the management of Total Upstream Nigeria Limited (TUPNI) on its 16 billion dollars (N5.76 trillion) Egina project in Nigeria. Adeola, who gave the commendation during the committee’s oversight function in Lagos on Friday, promised total support for the local content development

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Business Oil & Gas

$16billion EPZ project to take off soon, as FG delegation visits Delta

The Industrial Gas Park component of the $16billion Export Processing Zone (EPZ) project to be sited in Delta State by the Federal Government would soon take off as a Steering Committee on the project visits Governor Ifeanyi Okowa on Monday. The leader of delegation led by Sheikh Mohamed Bayorh, Executive General Manager, Alpha Grip Management

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Business

Total’s $16bn Egina FPSO berths in Nigeria 

THE Egina Floating, Production, Storage and Offloading unit (FPSO) has berthed on the shores of Nigeria from South Korea, after 86 days of sailing from Korea. Egina is the largest investment project currently on-going in the oil and gas sector in Nigeria. The project is expected to be completed in Q4 – 2018 within the initial

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Business Oil & Gas

Oil prices hit highest levels since 2015 amid tightening markets, Saudi purge

Oil prices hit their highest levels early on Monday as markets tightened, while Saudi Arabia’s crown prince cemented his power over the weekend through an anti-corruption crackdown that included high profile arrests. Brent futures, the international benchmark for oil prices, hit $62.44 per barrel early on Monday, their highest level for years now. U.S. West

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Bayelsa Business News

‘Bayelsa IGR hits N1.3bn in September’

The Bayelsa Government has recorded N1.3 billion as Internally Generated Revenue (IGR) in September, the Deputy Governor, retired Rear Adm. John Jonah, said on Friday. Breaking the financial statement for September in Yenagoa, Jonah said the state had realised about N1.3 as IGR in August. It can be recalled that Bayelsa had collected N868.58 million in

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Business News Oil & Gas

We contributed $29bn to Nigeria in four years – SPDC

SHELL Petroleum Development Company, has said that its economic contribution to the Nigerian government in four years was $29bn. The company’s General Manager, External Relations, Mr. Igo Weli, made this known  in Yenagoa, Bayelsa State capital, during the 2017 Swamp West Hub Integrated Stakeholders Engagement Forum for Tarakiri/Egbema/Oporoma Community Leadership. Weli, represented by the Assets

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Breaking News Business News Oil & Gas

Salvaging Niger Delta: PIND, MADE Partners NESG

…Niger Delta importance is centered on oil – PIND …N/Delta is crucial to Nigeria’s Devt. – Fidelis Ekom The Foundation for Partnership Initiatives in the Niger Delta (PIND) and Market Development Project in the Niger Delta (MADE), on October 11, 2017, partnered with the Nigerian Economic Summit’s Sustainability Policy Commission to sponsor a breakout session

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Business

PUBLIC NOTICE

GREEN AFFRIQUE FOUNDATION The general public is hereby informed that the above mentioned organisation has applied to the Corporate Affairs Commission for registration as a non-governmental organisation. THE TRUSTEES SHALL BE: RICHARD OBIOMA OGUNSERI OMOZUWA ONYEUKO HENRY The objectives of the Foundation are established to: Conduct, promote, encourage, create awareness, sensitise, advance the environment, and

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Breaking News Business Oil & Gas

SPDC JV’s Gbaran-Ubie Phase 2 comes on Stream

The Shell Petroleum Development Company of Nigeria Ltd, SPDC, Joint Venture has commenced production at Gbaran-Ubie Phase 2, a key project in the Niger Delta that will help to boost gas supply to the domestic market and maintain supply to the export market. Gbaran-Ubie Phase 2 follows the success of the first phase of the

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Business Maritime News

NIMASA mulls action plan on climate change

The Nigerian Maritime Administration and Safety Agency (NIMASA) has began arrangement with the Federal Ministry of Environment to create a detailed action plan that would assist the nation to effectively address climate change issues in the maritime industry. The Director-General, NIMASA, Dakuku Peterside, who disclosed this at the stakeholders forum on MARPOL Annex VI and

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Breaking News Business News Oil & Gas

Shell: We paid $31bn to FG between 2002 and 2016

Shell Petroleum Development Company (SPDC) says it remitted $29.8 billion to the federation account and $1.2 billion to Niger Delta Development Commission (NDDC) between 2002 and 2016. Igo Weli, the company’s general manager, external relations, said this on Monday while speaking to journalists in Port Harcourt. He was reacting to the shut down of SPDC

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Breaking News Business

Etisalat Nigeria changes name to 9mobile

Etisalat Nigeria has changed its brand name to 9Mobile, reports have said. The name change follows the pullout of Mubadala Group, Etisalat’s major investor from the United Arab Emirates, over a $1.4bn (N541bn) debt. Details Later…  

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Business News

MODULAR REFINERY: INVESTORS SEEK PARTNERSHIP WITH GBARAMATU COMMUNITIES

...Monarch assures security, cooperation OPOROZA—Aimed at harnessing the abundant natural resources in Gbaramatu kingdom, President, Missouri American Energy, Mr. Henry Iwenofy in a visit to the kingdom on 27th March, shown interest in building a modular refinery in the kingdom, with a promise to partnering with the youths in utilizing the natural deposits to bettering

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Business National News

GROUP TO BUHARI: ACTIVATE THE EPZ PROJECT TO AVERT RECESSION

•Project to engage 5,000,000 workforce A group known as the Warri Ijaw Peace Monitoring Group, WIPMG have called on President Mohammadu Buhari to kick start the Export Processing Zone Project in Escravos, Warri South West Local Government Area of Delta State, insisting that its commencing will drastically reduce the current economic recession faced in the

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Business

Chevron spends $3.6 bn on Nigerian Content in 2015

Chevron Nigeria spent $3.6 billion on Nigeria content in 2015 as part of its commitment to local capacity building in boosting local economies and creating job opportunities. The company said in its 2015 Corporate Responsibility Report that it consistently reserves significant portions of job scopes to benefit indigenous companies and community contractors from areas close

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Business

BREAKING: CBN takes over Skye Bank

The Central Bank of Nigeria has taken over the Board and management of Skye Bank Plc after the lender failed to meet the regulator’s minimum key liquidity and capital adequacy ratios. The Central Bank Governor, Mr. Godwin Emefiele, disclosed this at a news conference, which was held at the CBN’s head office in Lagos. Emefiele

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