Ambush on Nigeria oil researchers subdues hopes of quick economy recovery
Businessam Staff
August 1, 2017
An attack by Islamist militants on an oil exploration team in Nigeria’s northeast has hurt the government’s ambition to find new crude reserves, hindering a quick recovery of the West African nation’s least developed region. Militants of the Boko Haram Islamist group on July 25 staged an ambush on geologists, staff of the state-run oil company […]
Nigeria to continue oil exploration in Lake Chad Basin despite kidnapping
Businessam StaffJuly 31, 2017
Nigerian scientists will continue to search for oil in the restive Lake Chad Basin region despite a kidnapping of some researchers by suspected Boko Haram members, a university don and state oil firm NNPC said on Monday. Members of an oil prospecting team were kidnapped in the northeast’s restive Lake Chad Basin region on Tuesday, […]
Nigeria’s central bank to address e-payment issues at FICAN Bi-monthly Forum
Businessam StaffJuly 31, 2017
The Central Bank of Nigeria (CBN) will be addressing key issues confronting the e-payment industry at a Bi-Monthly Forum organised by the Finance Correspondents Association of Nigeria (FICAN). The event, themed: ‘Electronic Payment Industry, Performance & Regulatory Issues’ is scheduled for Saturday, August 5th, 2017 at the FICAN Centre, Onipanu, Lagos. The Guest Speaker, Dipo […]
ICRC boss lauds FG’s commitment toward PPP projects in FCT
Businessam StaffJuly 29, 2017
The Infrastructure Concession Regulatory Commission (ICRC) has commended the Federal Government for inaugurating the inter-ministerial implementation committee for the development of engineering infrastructure at Katampe District, Abuja.Chidi Izuwa, Acting Director-General of the commission said this in a statement by the acting Head of Media and Publicity of ICRC, Mr Manji Yarling. Chidi Izuwa, Acting Director-General […]
Nigeria’s acting president, Osinbajo, unveils Indorama’s $1.5bn fertilizer plant
Businessam StaffJuly 27, 2017
Yemi Osinbajo, Nigeria’s acting president, Thursday in Port Harcourt inaugurated a giant world-class fertilizer plant, built by Indorama Eleme Fertilizer and Chemicals Limited at the cost of $1.5 billion. The Plant has a production capacity of 4000 metric tons (MT) of nitrogenous fertilizers per day or 1.5 MT per annum The acting president used the […]
Activities pick up as CAC staff call off strike
Businessam StaffJuly 27, 2017
The Corporate Affairs Commission (CAC), Thursday resumed official business activities as its staff union called off the weeklong strike over non-payment of entitlements by the management. The offices of the commission at its corporate headquarters, Abuja, officially opened for customers and staff to carry out daily business transactions. The Amalgamated Union of Public Corporations, Civil […]
Nasarawa to clear backlog of workers’ salaries with N4.5bn Paris club refund
Businessam StaffJuly 27, 2017
Gov. Umaru Al-Makura of Nasarawa State, Wednesday acknowledged that the state government has received the second tranche of the Paris Club loan refund to the tune of N4.5 billion. Al-Makura disclosed this during a meeting with leaders of organised labour in the state at the government house in Lafia, where he stated that out of the […]
Awka Chambers seeks access to forex for raw materials inputs
Businessam StaffJuly 26, 2017
The Awka Chambers of Commerce and Industry, Mines and Agriculture (AwkaCCIMA) has decried the lack of access to foreign raw material inputs, a consequence of high cost of foreign exchange (Forex). Chief Felly-Zontal Akosa, the President of the chambers expressed the concern in an interview with the News Agency of Nigeria (NAN) in Awka, Wednesday, […]
Ecowas studying ramifications of Morocco membership, Nigeria’s Foreign Affairs Minister says
Businessam StaffJuly 24, 2017
Geoffrey Onyeama Nigeria’s Foreign Affairs Minister said the Economic Community of West African States (Ecowas) is studying the implications of admitting Morocco following its request last month, June, to join the organisation, Bloomberg reports. Morocco’s request was accepted “in principle” by leaders of the group known as Ecowas at a June 4 summit in the […]
Nigeria losses N2.03trn from poor infrastructure yearly– ICRC
Businessam StaffJuly 22, 2017
Nigeria losses two percent of its Gross Domestic Product (GDP) yearly due to inadequate infrastructure, Chidi Izuwah, the Acting Director General, Infrastructure Concession Regulatory Commission (ICRC) said Friday. Izuwah said this in Abuja at the signing of a Memorandum of Cooperation between the Nigerian government and Aninver, an infrastructure finance and investment company. The Country’s […]