Author: Orientalnews Staff

…Says Peoples Rights Should Be Respected Hyacinth Chinweuba The People’s Democratic Party (PDP), has called for caution and restraint in handling the conflict that has erupted in Abia State between the Military and elements of the IPOB. The Party in a statement signed by its National Publicity Secretary, Prince Dayo Adeyeye, noted that while it was committed to the continued corporate existence of Nigeria as one indivisible Country, it at the same time, acknowledged and respects the rights of the people anywhere to express their yearnings and aspirations within the confines of the laws of the land. It stated that…

Yemisi Izuora  The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said that an average of 700,000bpd of crude oil was deferred in 2016 due to pipeline sabotage, saying this brought Nigeria’s production down to as low as 1.3 million barrels per day from 2.2 million barrels targeted for the period.  The NNPC GMD, who stated this in a keynote address at the maiden edition of the Nigerian International Pipeline Technology and Security Conference (NIPITECS 2017) in Abuja said Year-To-Date 2017, NNPC had recorded twenty–seven (27) breaching incidents on the Trans Niger Pipeline (TNP), adding that for the Trans Forcados Pipeline (TFP) with a capacity of 300,000bpd, seventeen (17) breaches were recorded in 2016.  Dr. Baru declared…

Yemisi Izuora The Central Bank of Nigeria (CBN), has reassured of its commitment to continue with measures that will help maintain exchange rates stability. The banks governor Godwin Emefiele, who made the commitment at the 24th annual seminar for finance correspondents and business editors at Awka, Anambra state, further promised to explore further avenues to ensure that interest rates are supportive of domestic production needs. The Governor, who was represented by Acting Director, Corporate Communications Department, Mr. Isaac Okorafor, described the theme of the Seminar; “Import Substitution and the Dynamics of Interest and Exchange Rates in Nigeria” as topical given the…

Yemisi Izuora  The construction of Bonny Island–Bodo road in Rivers State came closer to actualisation today as Nigeria LNG Limited (NLNG) signed a tripartite agreement with the Federal Government, represented by the Ministry of Power, Works and Housing, and Julius Berger Nigeria Limited to part-fund the construction of the N120.6 billion road connecting communities in the state. The event was taken contemporaneously with the signing, between the Federal Government and Julius Berger, of the contract document for the construction of the road. NLNG’s involvement in the project is significant as the largest single CSR initiative ever undertaken by a private company in Nigeria. At a ceremony to formalise…

Yemisi Izuora The N100bn targeted by the Federal Government from the Islamic bond, Sukuk, will be spent on critical road infrastructure across the country, the Debt Management Office has said. The Director-General, DMO, Patience Oniha, said this at various stops of the roadshow organised to drum support for the bond, according to a statement issued by the agency. Oniha, alongside officials of the Ministry of Power, Works and Housing, told stakeholders in Lagos, Port Harcourt and Abuja that the N100bn was dedicated to building critical road infrastructure across the country The sovereign Sukuk is an ethical-based investment in which rent…

…Inaugurates 8 Committee For Exercise  Yemisi Izuora    In line with the Presidential mandate of rehabilitating the nation’s three refineries, the Nigerian National Petroleum Corporation has inaugurated eight committees charged with returning the refineries to their nameplate capacities by the year 2019. While inaugurating the committees, Group Managing Director of the Corporation, Dr. Maikanti Baru, charged them to deploy “out of the box solutions” to ensure that the refineries return to their good old days of top class performance. “I am convinced that the teams we have selected here today will give the necessary direction towards returning the refineries back…

Hyacinth Chinweuba The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr.. Dakuku Peterside has stated that effective policing is an essential component of the development and growth process of the Nigerian Maritime sector. The DG stated this while receiving a delegation of the Police Force, Maritime Command led by the Commissioner of the Command, CP David Folawiyo who paid him a courtesy visit at the Nigerian Maritime Resource Development Centre (NMRDC), Lagos. He noted that the Police Officers’ first order of business was to serve and protect; and that as an Agency of the government of…

Yemisi Izuora  In its determination to ensure that the current steady supply of petroleum products nationwide is sustained, the Nigerian National Petroleum Corporation (NNPC) has intensified efforts to safeguard its pipeline from vandals and fire outbreaks in line with best safety practices. The Group Managing Director of NNPC, Dr. Maikanti Baru, who disclosed this while receiving a delegation of the Occupational Safety and Health Association, (OSHA) UK, Nigeria Chapter, at the NNPC Towers, Abuja, said the Corporation would continue to monitor its pipelines and collaborate with the law enforcement agencies to safeguard such critical national asset. The GMD said that…

Yemisi Izuora Aiteo Group has alerted its shareholders, stakeholders, host communities, investors and general public about a faceless, cowardly campaign clandestinely contrived and executed by a number of entities that have committed substantial financial and human resources aimed at impugning our corporate integrity.  These hitherto nefarious and reprehensible efforts aimed at discrediting and tarnishing our reputation locally and internationally have now been unveiled as a large- scale orchestrated smear operation. According to a statement from the company, This subtle campaign, which commenced a few months ago, had been clandestinely sustained but now appears to have shamelessly escalated.  Nevertheless, Aiteo has…

…To Discuss Funding Climate Projects   Yemisi Izuora As worsening mega-storms, floods and droughts claim more lives and cause billions of dollars in damage around the world, recognition of the need to act quickly to curb climate change is growing, banking experts say. To kick-start a bigger pipeline of investment-friendly climate projects, international bankers and officials from Nigeria, Mexico and Colombia are meeting in London this week to try to thrash out a first set of ready-to-fund climate projects. But getting trillions of dollars in cash to the projects that can quickly make a difference  from electric vehicles for Mexico to big-scale solar power for…