We’re not indebted to road contractors

April 21, 2018 Admin 3 0

  The federal government has said it is currently not indebted to any road contractor in the North-Central zone of Nigeria. The Deputy Director, Highways in charge of the zone in the Federal Ministry of Power, Works and Housing, Mr. Bola Aganaba, explained that funding had been addressed prompting contractors to return to site. “Over the years, the major reason Read More

NAICOM approves Guinea Insurance audited statement

April 21, 2018 Benjamin Umuteme 0

  National Insurance Commission (NAICOM) has approved the 2017 audited financial statements of underwriting firm, Guinea Insurance Plc. In a statement, the management of the company disclosed that the approval was granted after a confirmation that Guinea Insurance had substantially complied with the Commission’s regulatory requirements as stated in its letter dated 11th April 2018 and captioned: Approval for Publication Read More

Nigeria’s debt profile under control–Adeosun

April 21, 2018 Benjami Umuteme  0

  In spite of the warning by the International Monetary Fund (IMF) that debt levels in African economies were rising, Minister of Finance, Mrs Kemi Adeosun on Friday said Nigeria’s debt level was still sustainable and under control. Speaking to newsmen on the sideline of the G20 Finance Ministers and Central Bank Governors meetings at the ongoing 2018 IMF and Read More

Invest in Nigeria now, Udoma tells London investors

April 19, 2018 Benjamin Umuteme. Abuja 0

  With economic policy initiatives yielding positive results coupled with a stable political climate, this is the right time to invest in Nigeria, Budget and National Planning Minister, Senator Udoma Udo Udoma, told participants at the UK-Nigeria Trade and Investment Forum in London. Sen. Udoma who was speaking at the plenary session of the Forum said Nigeria’s outlook for 2018, Read More

‘Human capacity devt will drive oil sector growth’

April 19, 2018 Benjamin Umuteme. Abuja 0

  The Executive Secretary, Petroleum Technology Development Fund (PTDF) Dr. Bello Aliyu Gusau has identified human resource development as the most important driver of growth and development in the oil and gas sector. The Executive Secretary’s remarks on the heel of popular belief that the major drivers and resources of the oil and gas sector were oil reserves, acreages, pipelines, Read More

Court halts planned sale of 9Mobile

April 19, 2018 Kehinde Osasona .Abuja 0

  The Federal High Court, Abuja yesterday halted the planned sale of the distressed telecommunication firm, Etisalat (now 9Mobile), following a legal action by aggrieved shareholders of the company. Consequently, the telecom shareholders have demanded that their $43.33 million invested fund be refunded to them. In her ruling, however, Justice Binta Nyako, ordered all the parties involved to maintain status Read More

Equity market sheds N6bn

April 19, 2018 Amaka Ifeakandu. Lagos 0

  Trading activities on the floor of Nigerian Stock Exchange (NSE) yesterday sustained declining profile, shedding N6 billion. Specifically, market capitalisation of listed equities dropped by 0.04 per cent to N14.727 trillion from N14.733 trillion reported on Tuesday. Also Nigerian Stock Exchange All Share Index declined by 16.42 basis points to 40772.26 points from 40788.68 traded the previous day. Investors Read More

NADDC set to unveil policy on electric vehicles

April 19, 2018 Adeola Tukuru. Abuja 0

  The National Automotive Design and Development Council (NADDC) has concluded plans to unveil a policy that will ensure the production and massive use of electric vehicles in the country. The Director General of NADDC, Mr. Jelani Aliyu, who made this known to journalists recently in Abuja, said the move would go a long way in giving a major boost Read More

Again, CBN boosts FX market with $210m

April 19, 2018 David Agba . Abuja 0

  The Central Bank of Nigeria (CBN) has intervened with another sum of $210million in the forex market to meet the requests of customers. This is in continuation of its intervention in the inter-bank sector of the Foreign Exchange market. A breakdown of the figures obtained from the Bank in Abuja on Tuesday, April 18, 2018, indicates that the CBN Read More

Kenya Airways accuses NUATE for not protecting members

April 19, 2018 BluePrint Newspapers 0

Kenya Airways has blamed the recent sack of Nigerian workers in its employ to the inability of the Air Transport Employees to protect its members working with the airline. It would be recalled that the airline had sacked 22 out of its 26 Nigerian employees thereby attracting condemnation and scathing criticism from the NUATE which said aviation unions would resist Read More

IATA commends NAMA over billing system

April 19, 2018 BluePrint Newspapers 0

The International Air Transport Association (IATA) has lauded the Nigerian Airspace Management Agency (NAMA) for its consistency in rendering qualitative bills in the last three years. IATA’s Director of Airline Settlement Services, Manfred Blondeel, made the commendation during the IATA/NAMA Service Review Meeting held at the association’s corporate office in Geneva Switzerland, He said the consistency in billing system “has Read More

African airport capacity critical to sustainable prosperity – ICAO

April 19, 2018 Ime Akpan. Lagos 0

  International Civil Aviation Organisation (ICAO) council President, Dr. Olumuyiwa Benard Aliu has highlighted that Africa’s rapidly-expanding air traffic can only be sustained and optimised through the continued development and modernisation of local aviation infrastructure, particularly at airports. Addressing African aviation and government leaders at the 59th Airports Council International’s (ACI’s) 2018 Africa Regional Conference in Lagos, Aliu declared: “The Read More

Aggrieved agencies in TSC revenue sharing should come forward – NCAA

April 19, 2018 Ime Akpan. Lagos 0

In this interview, the Director-General of the Nigerian Civil Aviation Authority (NCAA) Capt. Muhtar Usman, speaks on the discrepancies in passenger traffic figures for 2017, under-declaration of revenues accruing from 5 per cent ticket sales tax shared among four aviation agencies. He speaks with IME AKPAN Zero-aircraft accident recorded in 2017 Let me first of all thank God that we Read More

NITDA’s capacity building train berths in Jigawa

April 18, 2018 Ayoni M. Agbabiaka. Abuja 0

The National Information Technology Development Agency (NITDA) has launched a computer literacy training programme to capture the North-western region of the country. The month – long training targeted at women in the region, is an initiative of the current leadership of the agency aimed at supporting the Economic Recovery and Growth Plan (ERGP) of President Muhammadu Buhari. Jigawa State Governor, Read More

Unbundling economic boom in Nigeria salt deposits

April 18, 2018 BluePrint Newspapers 0

Stakeholders in solid mineral sector have called for the full exploitation of the huge salt deposits in some states across the country for local consumption and export. Large deposits of salt in some states A recent survey indicated that some states had large deposits of salt, but virtually all the states had not really utilized the mineral resource to develop Read More

AEDC targets 120,000 yearly meters installation

April 18, 2018 BluePrint Newspapers 0

The management of the Abuja Electricity Distribution Company (AEDC), has disclosed that the company has a target of installing 120,000 meters yearly. However, it added that the company had so far installed 146,000 meters, just as he announced that it was in the final process of procuring another 320,000 meters to accelerate metering of residential customers. The Managing Director of Read More

EEDC introduces bi-lingual internet-based smart bills payment system

April 18, 2018 BluePrint Newspapers 0

The Enugu Electricity Distribution Company (EEDC) has introduced a bi-lingual internet-based smart bills payment system to reduce time-wasting of bills payment by its customers. The EEDC’s Head of Communications, Mr Emeka Ezeh, said in a statement in Enugu that the new internet-based bill payment known as “Energy Pay’’ was part of the company’s continuous drive toward the development of innovative Read More

FG commissions Abuja 60MVAR 132KV capacitor bank

April 18, 2018 Tope Sunday. Abuja 0

In a bid to improve power supply in the Federal Capital Territory (FCT), the Minister of Power, Works and Housing, Babatunde Raji Fashola, has commissioned the 60MVAR 132KV Capacitor Bank at Apo Transmission substation, Abuja. The minister, while commissioning the project, said it was executed by the Japanese International Cooperation Agency (JICA), through mutual cooperation between the Nigerian and Japanese Read More

‘Why we cut power generation from 560MW to 250MW’

April 18, 2018 BluePrint Newspapers 0

The Managing Director of Afam Power PLC, Engineer Olumide Obafemi, has disclosed that challenges have forced the plant to cut power generation from 560MW to 250MW. Obafemi, however, regretted the company was generating power almost at loss due to the prevailing circumstances. He spoke recently during the ministerial press visit to Afam Power PLC, in Oyigbo Local Government area of Read More

FG activates National Oil Contingency Plan

April 18, 2018 BluePrint Newspapers 0

The federal government and Nigeria Agip Oil Company (NAOC) have concluded preparations to activate a National Oil Spill Contingency Plan (NOSCP). Director-General, National Oil Spill Detection and Response Agency (NOSDRA), Peter Idabor said the NOSCP would take care of oil spill management in the Nigerian environment, as well as the responsibility of ensuring timely, effective response to clean up and Read More

Oil price hits $72 amid worries of disruption

April 18, 2018 BluePrint Newspapers 0

Oil prices rose to $72 yesterday amid worries that there could be a high risk of disruptions to supply, especially in the Middle East. Brent crude oil futures were at $71.80 per barrel at 0120 GMT, up 38 cents, or 0.5 per cent from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 39 cents or 0.6 Read More

NNPC to support local investors on technology advancement

April 18, 2018 Benjamin Umuteme. Abuja 0

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said that the corporation will continue to support local investors in growing the engineering profession. He noted that this would in turn ensure technological advancement of the nation’s oil and gas industry. Dr. Baru disclosed this while speaking at the induction ceremony of the Group Managing Director Read More

US office lauds NDIC

April 18, 2018 David Agba . Abuja 0

The Office of Technical Assistance (OTA) of the United States Department of Treasury has commended the Nigeria Deposit Insurance Corporation (NDIC) on the establishment of a world class academy that serves as a reference point for capacity building on Deposit Insurance System (DIS) for the African continent. Head, Communication & Public Affairs of the NDIC, Mohammed Kudu Ibrahim in a Read More