Business

OVH Energy Marketing Ltd. has retrenched about 100 of its workforce in order to overcome the problem of salaries payment due to the ongoing challenges in the downstream oil sector. A top official of the company, who pleaded anonymity, disclosed this to the Newmen in Lagos on Tuesday. The official …

Domestic airlines operating in Nigeria recorded 16,429 cases of delayed flights between January and June 2019 according to figures released by the Consumer Protection Department of Nigerian Civil Aviation Authority (NCAA). A document issued by the department and obtained by the News Agency of Nigeria (NAN) on Thursday in Lagos, …

Nigeria Agip Oil Company(NAOC), an affiliate of Italian oil giant, Eni, says it has discovered a significant quantity of gas and condensate in the Obiafu-Obrikom fields in Oil Mining Lease, (OML) 61, onshore Niger Delta. In a statement in Abuja on Tuesday, the company said the gas and condensates were …

The Lagos State House Assembly has set up a committee to investigate the purchase of 820 buses by the government of former Governor Akinwunmi Ambode. The House said it was important to investigate the purchase of the 820 buses out of the 5,000 buses proposed by Ambode for mass transit …

The Edo State Government on Monday said that the Edo Broadcasting Service (EBS) remitted N20 million to the government as Internally Generated Revenue (IGR) from Dec. 18, 2018 to July 31. Mr Crusoe Osage, the Special Adviser to the State Governor on Media and Communication Strategy, , said this in …

Opolo community of Bayelsa are demanding the payment of outstanding N6,938,899,900 from Shell Petroleum Development Company (SPDC) being amount of unpaid rentals, expired leases and reacquisition fees. The indigenes, who made their demands known during a protest in Abuja, says they were being cheated by the multinational company. Hezekiah Odede, …

The Nigeria Governors’ Forum (NGF) has said that the establishment of Special Agro-processing Zones (SAPZs) in Nigeria has the potential of attracting between one to four billion dollars investments into the country. The Chairman of the forum and Governor of Ekiti, Dr Kayode Fayemi, disclosed this while briefing newsmen after …

The Deputy President of the Senate, Ovie Omo-Agege has commended Belema Oil Producing Ltd. for heeding the call by the Federal Government that all oil producing companies in Nigeria relocate their headquarters to the Niger Delta. In a letter of commendation addressed to the company, Omo-Agege hailed the company for …

The Federal High Court in Abuja on Tuesday upheld the Rivers State’s entitlement to N502m monthly allocation accruing from the Oil Mining Lease 112. Justice Taiwo Taiwo, in a judgment, ordered the Revenue Mobilisation, Allocation and Fiscal Commission, the Attorney-General of the Federation and the Accountant-General of the Federation, to …

Resolving Issues surrounding power supply is a top priority of the Federal Government in the past years, the Vice President, Prof. Yemi Osinbanjo has said. Osibanjo said the Federal Government is creating a policy that will open up the nation electricity Market to new investors in power generation, transmission and …