A subsidiary of Chevron, the third-largest oil producer in the country and one of its largest investors, spending more than $3 billion annually has commenced drilling operations in the Agbami field offshore Nigeria using the Pacific Bora drillship. &nb...
The United States government has expressed its willingness to support Nigeria in its quest to end gas flaring. This assurance was given by the US special envoy and Coordinator for International Energy Affairs, Ambassador Carlos Pascual, recently at the...
The Federal Government has been advised to improve in the management of its oil revenue so that the benefits of oil exploration and production could trickle down to the lowest class of people in the country. This counsel was given by the chairman, Parl...
The Nigerian Content Development and Monitoring Board, (NCDMB) said it has developed the Annual Nigerian Content Index, which would index the growth of service companies against their turnover of three preceding years to be carried as 25 per cent compo...
The gross proceeds from the direct sale of public enterprises between 1999 to date is N249, 497,188,000, the Bureau of Public Enterprises(BPE) has said. It explained that of the said sum, N103, 844,517,000 was used to settle staff salaries and terminal...
Union Bank of Nigeria (UBN) Plc has said that it would need about N300 billion to recapitalise the bank and take capital adequacy level to zero. Group Managing Director of the bank, Funke Osibodu, who disclosed this in an exclusive interview with LEADE...
As the drumbeat of an epic battle between dealers in sub-standard products and the Standard Organisation of Nigeria(SON) rises to a deafening pitch today, the director-general of the standards and products regulatory agency,Dr. Joseph Odumodu, said the...
Aso Savings and Loans Plc has recorded gross earnings of N10.012 billion for the financial year ended March 31, 2010. The result indicated a drop of N78 million or 0.77 per cent when compared with N10.090 billion recorded in the preceding year. The aud...
Some finance experts have said that the plan by the Central Bank of Nigeria (CBN) to kick-off its cashless society pilot scheme in Lagos State might not be easy as it could slow down business activities in the state. According to them, one of the major...
The Nigeria Deposit Insurance Corporation has said that effective inclusive financial system with broad based provision of financial services would reduce poverty in the country. The Managing Director of the corporation, Alhaji Umaru Ibrahim, who made ...
FinBank has set a strategic plan to increase its profit after tax of N2.42 billion for its financial year ending December 31, 2011. The bank also planned to raise its gross earnings to N43.35 billion within the same period. The bank had earlier project...
Professionals in the nation’s housing and construction sub-sector have tasked the federal government to stand strong and tackle the challenges posed by inadequate housing. They noted recently in Lagos that vibrant government policies in the secto...
The Lagos State Government has said it would require N109 billion to fix roads in Ikeja, the state capital and its environs to facilitate free vehicular movement. Commissioner for Works and Infrastructure, Dr. Obafemi Hamzat, said this at the end of an...
Following criticisms from political opponents that the Fashola government was only concerned about developing roads in highbrow areas, the administration has mobilised contractors to fix inner roads in the state . Confirming the present change of polic...
A regime of internationally acceptable standards adopted for construction works is to be observed and implemented by all contractors working with the Lagos State Ministry of Works and Infrastructure. According to the Commissioner for Works and Infrastr...