Author: Orientalnews Staff

Yemisi Izuora. The President/CEO of Worldstage Group, Mr. Segun Adeleye, convener of the #Worldstageeconomicusummit2017 has advised all Nigerians and business owners within the country to imbibe innovation for economic development. According to him, diversification into non-oil sectors may not be enough to sustain the nation’s economic development without adapting new ways of doing things. In his words, “Nigeria is projected to be the third most populous country behind India and China by 2050, any diversification now without innovation by businesses and government may be tantamount to running on the same spot.” Presenting his introductory address at the summit, Mr. Adeleye explained that the theme ‘”Transforming Business…

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Yemisi Izuora Chevron Corp Chief Executive John Watson is likely to step down by the end of next month and may be replaced by Vice Chairman Mike Wirth, a source familiar with the matter told Reuters. The unexpected shake-up at one of the world’s largest oil and natural gas producers comes as pressure grows on the industry to further cut costs and control spending. In Wirth, Chevron would pivot to a leader with experience in refining, where costs are regularly scrutinized down to the fraction of a penny. The move would copy rival Exxon Mobil Corp, which earlier this year…

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Yemisi Izuora World Bank may not be considering funding development of Nigeria’s huge coal deposits for power generation, according to information from reliable financial sources. According to the information the sector did not qualify for funding from the World Bank and many multilateral financial institutions despite the abundance of the mineral resources in Nigeria. It will be recalled that the Federal Government had in the past announced plans to generate about 30 per cent of Nigeria’s electricity from coal, but described the initiative as “unclean power.” In April this year, the Minister of Mines and Steel Development, Dr. Kayode Fayemi,…

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Yemisi Izuora The Department of Petroleum Resources, DPR, has offered to collaborate with Lagos state government to develop a roadmap for development of oil and gas in the state. TThis partnership assurance was given by Mr. Wole Akinyosoye, DPR Zonal Operations Controller, Lagos during a courtesy visit to DPR by the Lagos State Commissioner for Energy and mineral Resources, Mr. Olawale Oluwo.    Akinyosoye, who represented the Director of Petroleum Resources, stated that DPR as a responsible corporate citizen was ready to work with the State government to realize its aspirations for the oil and gas industry. He promised to ensure DPR’s total…

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The Lagos Elders’ Council chaired by Alhaji Musiliu Anibaba has assured the entire indigenes of Lagos State that it will play its paternal role where it concerns their protection, and preservation of their interests.  In a statement issued in Lagos and jointly signed by its Organizing Secretary, Chief Sunbo Onitiri, and Publicity Secretary, Barrister Olumide Braithwaite at the end of a crucial meeting held yesterday, the council also promised to work with all other organizations of indigenes to move the state forward.  The elders unanimously agreed that the council should hold a symposium sometime in October this year on topical issues affecting the indigenes of Lagos State. Details of the symposium…

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The Power Sector Group of the Lagos Chamber of Commerce and Industry (LCCI), is set to hold an interactive forum with major stakeholders in the Power sector. The theme of the forum is “Investment Opportunities in the Power Sector.” The interactive forum, according to the Group’s Chairman, Engr. Effiom Edet, is scheduled to holdtomorrow Thursday, 24th August, 2017 at the Commerce House, in Lagos and would be used to highlight the investment opportunities in the Power Sector; and enhance Investment Relations between Nigeria and the United States in the Power Sector.  The forum will also focus on Partnership Opportunities with inward Trade Missions, Manufacturers’ Representatives, Agencies and Franchises etc. Edet further disclosed that, “Mr. Brent E. Omdahl (Commercial Counselor) Head of U.S. Commercial Service Unit, would be…

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The Director-General of the Nigerian Civil Aviation Authority (NCAA), Captain Muhtar Usman has said that the US Federal Aviation Administration (FAA) has commenced the re-assessment of the safety status of Nigeria’s aviation industry and the level of compliance with international practices.  Usman who disclosed this in Lagos expressed optimism that the country would once again scale the hurdle, stressing that the regulatory agency was prepared to retain the Category One Status it attained in 2010.  The attainment of Categry One Safety Status enabled Nigerian registered airlines to operate to the US and for US airlines to operate to Nigeria.  Usman…

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Delta is launching three weekly nonstop flights from Lagos to New York-JFK, effective March 25, 2018 and when combined with the existing four-times a week nonstop service to Atlanta, Delta will offer a daily operation from Nigeria to its U.S. hubs. The announcement comes as the airline prepares to celebrate 10 years of service to Nigeria in December and remains the only carrier to offer nonstop service between Nigeria and the United States. Delta will operate both its New York-JFK and Atlanta routes using Airbus 330-200 aircraft, which are equipped with Wi-Fi and feature 34 fully flat-bed seats in the Delta One cabin.…

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First Bank of Nigeria Limited, has continued in its tradition of creating a value-chain of support for the interests and lifestyles of its customers as it develops and deploys varying categories of products and services across market segments, to support customers’ lifestyle, goals and aspirations. To drive convenience in banking, FirstBank offers innovative virtual options for funds transfer, bills payment and airtime top up, using FirstMobile app and the Bank’s USSD banking code *894#. FirstMobile, the bank’s mobile app has recently been updated with enhanced card security feature – ‘card-in-control’ which makes it possible for customers to define their card functionality on their…

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The Director General of the Securities and Exchange Commission Mr. Mounir Gwarzo, has cautioned legal practitioners against unnecessary litigation at the instance of clients involved in enforcement actions of the commission. Gwarzo who was a discussant at a Break out session (Creating Secondary Market For Investors) of the Annual General Conference of the Nigerian Bar Association in Lagos urged lawyers to refrain from such actions in the interest of building confidence in the business community. He said this would ensure the support of the Legal profession to the Commission, thereby allowing the Commission to perform its statutory function and adequately…

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