Yemisi Izuora Nigeria is hopeful that revenue growth especially from crude oil sale will continue to provide confidence in budget implementation in 2025 particularly given current growth in oil production statistics. The Minister of State Petroleum (oil), Heineken Lokpobiri, had said that the 2.06 million barrels per day oil projection in the 2025 budget is realisable and realistic. The Minister gave the assurance following the presentation of a N49.7tn budget by President Bola Ahmed Tinubu to the National Assembly. The budget titled “Budget of Restoration: Securing Peace, Rebuilding Prosperity” is targeted at consolidating the administration’s reforms, which experts say…
Author: Orientalnews Staff
Uche Cecil Izuora The Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2025 is focusing on local content development in Africa continents oil and gas industry. Specifically, the Nigerian Content Development and Monitoring Board (NCDMB) which drives the process in Nigeria will highlight successful implementation of the policy to over 6,000 local and international companies that have registered to attend the event in Nigeria. The summit would also showcases multi-billion-dollar project opportunities across Africa. Over 6,000 stakeholders from National and International Oil Companies, government bodies, service providers, and regulators from 51 countries are expected to attend. The SAIPEC offers…
Joseph Bakare The Nigerian Maritime Journalists (NMJ) is prepared to confer award on the Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, MFR, as the “Iconic Maritime Personality of the Year 2024. The award ceremony is to hold on Thursday, 16th January, 2025 at the Apapa Port Customs Command Auditorium, at 12noon prompt. A statement explained that the need for the Nigerian maritime media practitioners to honour the CGC is a unanimous decision by all maritime journalists covering the maritime beat, cutting across print, electronic and online media, led by the different beat associations. These include the…
Francesca Odimgbe Lagos State Governor, Mr. Babajide Sanwo-Olu, has felicitated the billionaire industrialist and Chairman of the Eleganza Group, Chief Rasaq Akanni Okoya, on his 85th birthday celebration. He said the renowned business magnate and philanthropist, who will be 85 tomorrow, Sunday, is worth celebrating for his life of consistent commitment and contribution to the economy and livelihood of many Nigerians, particularly in Lagos State, where many of his companies are located. Sanwo-Olu, in a statement issued on Saturday by his Special Adviser on Media and Publicity, Mr. Gboyega Akosile, said Chief Okoya, the Aare of Lagos,…
Joseph Bakare The Nigerian Army Resource Centre, Abuja has commended the National Youth Service Corps for its efforts in Corps empowerment, rural development, human capital development, numerous innovations in digitalization of operations among others. It also said the involvement of Corps Members in series of national assignments like elections, population census and immunization programmes are worthy of commendation alongside the Scheme’s roles in leadership training and fostering of national unity. The Team Lead of the participants of Leadership and Strategic Studies Course 3/2024 from the resource centre, Major General AA Tarfa stated this when he led 35 participants comprising…
Yemisi Izuora The Group Chief Executive Officer (CEO) of the Nigerian Exchange Group Plc (NGX Group), Temi Popoola, has reiterated the transformative potential of Africa’s capital markets. Popoola, however emphasized the need for stronger regional collaboration, government-private sector synergy, and innovative market solutions to unlock the continent’s economic potential. He stated these while speaking at the launch of the Ethiopian Securities Exchange (ESX). The Group CEO, notes that the NGX Group’s strategic investment in ESX underscores its leadership in advancing Africa’s capital market infrastructure. “The launch of ESX represents a pivotal moment for Ethiopia and the broader African financial…
Tunde Bakare Military sources have said that the Operation FANSAN YAMMA, has delivered a devastating blow to banditry in Zamfara State, following a well-coordinated air-ground assault executed on 10 January 2025. Air strikes and synchronized ground assaults at Fakai Hills decimated scores of bandits, leaving many others gravely wounded. This bold operation underscored the unwavering resolve of the Armed Forces of Nigeria to restore peace and security to the region. Local intelligence reports confirmed that the bandits, loyal to notorious leader Kachallah Bello Turji, suffered heavy casualties. Scores of bandits were neutralized, while many others, including some top commanders,…
Yemisi Izuora The Nigerian Capital Market is progressively growing exponentially after the Nigerian Exchange Ltd. (NGX) notes that All-Share Index and Market Capitalisation appreciated by 1.80 per cent each, to close the week at 105,451.06 and N64.303 trillion respectively. Theses are against 103,586.33 and 63.166 trillion posted last week. Consequently, equity investors gained a total of N1.137 trillion for the week under review. Similarly, all other indices finished higher with the exception of NGX Insurance, NGX AFR Bank Value, NGX AFR Div Yield, NGX MERI Value, NGX Consumer Goods, NGX Oil and Gas. Also, NGX Industrial Goods which depreciated…
Valentine Okafor The Lagos State Internal Revenue Service (LIRS) has reminded employers in Lagos State to fulfill their statutory obligation to file annual tax returns for the 2024 financial year on or before January 31, 2025. This requirement is in line with the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended). In an official statement, the Executive Chairman of LIRS, Dr. Ayodele Subair, emphasized that meeting this deadline is a legal obligation. He warned that failure to comply will result in statutory sanctions, including penalties, as prescribed by law. Section 81 of PITA mandates employers to…
Yemisi Izuora The Guild of Corporate Online Publishers (GOCOP) has commended the Edo State Governor, Mr. Monday Okpebholo for the appointment of Mr. Collins Edomaruse as his Special Adviser, International Development Partners (IDP). President of GOCOP and Publisher of RealNews Online, Ms Maureen Chigbo described Edomaruse’s appointment as a welcome development. Chigbo in a statement by GOCOP Publicity Secretary, Ogbuefi Remmy Nweke, also congratulated Edomaruse for this appointment assuring of support from over 110 members of GOCOP in carrying out his duties. Until his appointment, Edomaruse who is a founding member of GOCOP and the Secretary General of the body of reputed…