…Parades Suspected Criminals The Lagos State Police Command has vowed to purge the state of all criminal elements, including police personnel who aid and abate crime. The Commissioner of Police, in the state Fatai Owoseni, said the command has strengthened operations in the last one month leading to the arrest of 24 armed robbers and 15 cult members with different types of charms, arms and ammunition. Highlighting the details about the arrests, Owoseni disclosed that on the 24th of July, 2017, one Sergeant Sylvanus Emoche, who was demobilized from 20 PMF and transferred to Kogi State Command,…
Author: Orientalnews Staff
A boat ride to Egbin Power Plc, one of Africa’s biggest power stations and an affiliate of Sahara Group flagged off the tour of the power operations of the energy conglomerate in Lagos, Nigeria by 20 Harvard Kennedy School graduates. Led by Toyosi Akerele-Ogunsiji, the graduates from the 2017 Masters in Public Policy Class learned about how continuing investments in technology, human capital, overhauls and upgrades were driving the unfolding transformation the power plant which is responsible for 25 percent of power generated in Nigeria. An elated Arohi Sharma, the team’s Student Government President 2016-2017 said: “It is quite exciting…
Nigeria and Morocco have raised a steering committee to develop a sustainable crop insurance scheme for the country. The Committee, comprising representatives of the Nigerian Agricultural Insurance Corporation (NAIC), Bank of Agriculture, the Moroccan Agricultural Insurance Company (MAMDA) and MAMDA RE. In developing the insurance scheme, the committee is expected to use parametric products and leverage on the Moroccan model for crops covering selected areas of between 5000 and 10,000 hectares of land. The Managing Director of NAIC, Mrs. Folashade Joseph made this known in Abuja at the inauguration of the committee. Joseph said the establishment of the committee was…
Seplat Petroleum Development Company Plc said it earned $54 million revenues from gas in the first half of this year, according to the company’s half yearly result. The revenue from gas constitutes about 41 per cent of he company’s total half year earnings, up 15 per cent year-on-year, the report said. The report indicated that overall working interest production in the first half of the year across all blocks stood at 9,507 barrels of oil per day, bopd, and 101.3 million standard cubic feet per day, MMscfd, or 26,383 barrels of oil equivalent per day, boepd. Working interest production in…
The Committee, has observed that the economy was steadily pulling out of recession and that indices on non-oil sector growth in the second quarter of the year showed the economy could recover earlier than expected. The CBN’s Director of Banking Supervision, Mr. Ahmed Abdullahi, had earlier said that the CBN realised about $4 billion in May from the export and investors’ window it created in the foreign exchange market. Mr. Abdullahi, who was accompanied to the Committees meeting by the Managing Director of Union Bank, Mr. Emeka Emuwa, said the fund was part of efforts by the banks to…
The advisory partner and mining leader at PwC, Cyril Azobu has said that the firm is optimistic that if the right steps are taken and the current momentum sustained, the solid minerals sector in Nigeria can contribute up to 3 per cent of GDP by 2025 as predicted in the current roadmap, up from a current contribution of just about 0.5 per. He adds: “my vision for the sector is one that is profitable to all stakeholders and in which the Nigerian people are able to enjoy the maximum benefits possible for these natural endowments. “ The upcoming Nigeria Mining Week, which is taking…
South Energyx Nigeria Limited, the developers and planners of Eko Atlantic City, Nigeria’s premium smart city, has partnered with Fine and Country West Africa for the Refined Investors Series 2017, scheduled to take place in London, United Kingdom this October. The event, which is the leading premium real estate forum, is themed “Taking Nigeria to the World” is targeted at Nigerians in the Diaspora and other international investors. The Refined Investor Series UK is a premier event focusing on unique real estate opportunities in Nigeria that are safe, secure and highly sustainable. The event also targets affluent and high…
The Central Bank of Nigeria (CBN) on Tuesday, August 15, 2017, intervened in the Inter-Bank Foreign Exchange Market to the tune of $364million in a bid to sustain liquidity in the market. A breakdown of Tuesday’s forex intervention indicates that the Retail Secondary Market Intervention Sales (SMIS) received the largest allocation of $264,192,252.95. The CBN also offered the sum of $100,000,000 to authorised dealers in the wholesale window. Confirming the figures yesterday, sources at the Bank said the CBN also received requests from authorized forex dealers on behalf of their customers, for which results will be released. According to the sources, the…
Yemisi Izuora About 65 Nigerian contractor and subcontractor companies were involved in the Turn Around Maintenance, TAM, of the Shell Nigeria Exploration and Production Company, SNEPCo’s, Bonga deep water oil field completed in April this year. According to the company, over 1,000 people were also involved, spread across worksites and vessels, in the exercise described as the biggest in scope in the 12-year history of the asset. Managing Director of SNEPCo, Mr. Bayo Ojulari, revealed last week in Lagos that the engagement of Nigerian contractor and sub-contractor companies was one of the high-points of the Bonga TAM, so also the…
Yemisi Izuora The House of Representatives has demanded a compulsory review of the National Minimum Wage every five years. The proposal was contained in a bill to amend the National Minimum Wage Act, 2004, which passed second reading on the floor of the House in Abuja, during a session presided over by the Speaker, Hon. Yakubu Dogara. The legal framework, when passed, sets in motion a process for government and organised labour to commence discussions on review of wages every five years. The bill was sponsored by the Majority Leader of the House, Hon. Femi Gbajabiamila. The All Progressives Congress…