Yemisi Izuora Oil prices rose on Friday as U.S. oil producers in the Gulf of Mexico cut more than half their output in the face of a tropical storm and as tensions continued in the Middle East. Brent crude futures were up 37 cents, or 0.6 per cent at $66.89 per barrel. The international benchmark settled down 0.7 per cent on Thursday after hitting its highest since May 30 at $67.52 a barrel. Also, the U.S. West Texas Intermediate, WTI, crude futures were up 34 cents, or 0.6 per cent at $60.54 a barrel. The U.S. benchmark closed 0.38 per…
Author: Orientalnews Staff
Yemisi Izuora Nigeria will feature significantly in the 2019 Africa Investment Forum scheduled to take place in Johannesburg, South Africa this November. Following the hugely successful inaugural edition held last year, the African Development Bank’s innovative investment marketplace set up to accelerate investment into the continent, will convene for its second meeting from 11-13 November. The Nigerian roadshow, held on 9 July, was organised by the Nigeria Country Department of the Bank in collaboration with the Africa Finance Corporation. Speaking at the event, Ekiti State Governor Dr Kayode Fayemi emphasised the role of private capital to deliver the infrastructure required…
Hyacinth Chinweuba The Bauchi State Commissioner of Police Habu Sani has said that over five hundred Sara Suka thugs have surrendered and denounced the act of criminality in the state while five hundred others were arrested for various offenses between May and July 2019. Sani made the disclosure during the occasion of formal renouncing of thuggery known as Sara Suka and surrendering of arms by over five hundred thugs from twenty different notorious Sara Suka gangs in Bauchi metropolis. He explained that the command under his watch has drastically bring down the soaring spate of Sara Suka, armed robbery, kidnapping…
Hyacinth Chinweuba The Nigerian Army has established the first aircraft hangar for its Aviation unit at the Jaji Military Cantonment in Kaduna State as part of the continuous effort to run a viable aviation unit. The Chief of Army Staff, Lt.-Gen. Tukur Buratai, while inaugurating the hangar recently, said that the hangar was the first of its kind to be established by the army in Nigeria. Buratai said that the second hangar was underway at the Army Barracks in Bama, Borno State, adding that the army was committed to developing its air capacity. He also disclosed that the aviation hangar…
Hyacinth Chinweuba/Agency Report A Bill for an Act to provide for establishment of the National Commission Against the Proliferation of Small Arms and Light Weapons (SALW) on Thursday scaled through second reading at the House of Representatives. The bill which is being sponsored by Rep. Mohammed Monguno (APC-Borno), had passed first reading on Wednesday, July 3, 2019 at plenary. The bill seeks to coordinate and implement activities to combat the problem of the proliferation of small arms and light weapons in Nigeria. The bill is in line with the Economic Community of West African States (ECOWAS) Convention on Small Arms…
Hyacinth Chinweuba Sexurity agencies including, Army, Navy and others are almost set to start using the $195m equipment acquired for securing Nigeria’s maritime space, the Federal Government announced on Wednesday. According to the government, selected personnel from the security agencies are currently finalising their training on how to use the equipment, as well as on how to manage other security concerns on the Nigerian waters. The Permanent Secretary, Federal Ministry of Transportation, Sabiu Zakari, disclosed this in Abuja while playing host to a team from the Nigerian Shippers Council, Maersk Line and APM Terminal. On May 23, 2019, the immediate past…
Hyacinth Chinweuba/Agency Report TinCan Island Port Command of the Nigeria Customs Service on Thursday, said it collected total of N179,275,629,170.74, following the renewed enthusiasm and development of Standard Operational Procedures (SOP) for operational efficiency. “The Command has witnessed a major paradigm in its statutory functions. This trajectory provided the needed impetus for the smooth implementation of the Presidential Directives on Ease of Doing Business” Generally speaking, it is instructive to note that the command has gone beyond Revenue Collection/generation, to creating an enabling environment for Legitimate businesses to thrive in line with the Presidential mandate, with the resolve by the Command…
Walter Duru Deputy Governor of Imo State, Rt. Hon. Gerald Irona says the state Government decided to set up an investigative panel to look into the management of the Imo state Oil Producing areas Development Commission-ISOPADEC following reports of mismanagement of the Commission by previous administrations. The Deputy Governor gave the explanation while receiving a delegation of stakeholders from Ohaji, in Ohaji Egbema Local Government Area under the auspices of Ogbako Ohaji, a socio-cultural organisation, led by Chief Goddy Obodo. “Few weeks before the last administration of His Excellency, Rochas Okorocha left, over Four Hundred and Twenty Million (N420m) was…
By Admin Former Head of State, General Abdusalami Abubakar said on Thursday that the private sector experience of the Governor of Oyo State, Engineer Seyi Makinde will help him in the governance of the state. General Abdusalami Abubakar, who was on a brief visit to the Governor’s office said that he was in Ibadan to attend an inaugural lecture of the University of Ibadan. He congratulated Governor Makinde for his victory at the March 29 polls, adding that he was in the vanguard of encouraging the younger generation of Nigerians to take interest in politics. According to him, Governor Makinde…
Yemisi Izuora The Nigerian Communications Commission, NCC, has stressed the need for improved investment in the telecommunication sector to help boost economic growth in the country. Prof Umar Danbatta, executive vice chairman, NCC, while speaking at the 2019 Telecom Executives and Regulator Forum in Lagos on Thursday, Danbatta noted that $68 billion investment in Nigeria is huge, but it is by no means adequate for one of the fastest growing telecommunications markets in the world. He said with the capital intensity of the industry, there was need for service providers to increase their infrastructure deployment to satisfy the ever-increasing demand.…