Yemisi Izuora The inexplicable and perplexing processes in giving approvals for indigenous companies acquiring in-country foreign energy assets, is raising serious concerns among key stakeholders in the oil and gas industry. The African Energy Chamber (AEC) has observed the negative consequences of approval delays, ranging from many months to two-plus years, include forfeited revenue from lost royalties and taxes, production shortfalls, investor discouragement, and safety issues that arise while maintenance is put on hold. The Chamber in a publicized document noted that the government approval process has stymied several of these potential deals over the past couple of years…
Author: Orientalnews Staff
The State Attorneys-Generals of Nigeria has commended the Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede for his forward-looking and developmental approaches to the fight against economic and financial crimes and other acts of corruption. This applause was given in Abuja by Chairman of the Body, Dr. Ben Odoh who led other Attorneys-General of the 36 States to the corporate headquarters of the EFCC on a courtesy visit. Odoh pointed out that the appointment of Olukoyede came with vast experience as a notable anti-graft fighter and lauded his new-fangled initiatives geared towards deepening the…
The Group Head, Media and External Relations of Africa’s Global Bank, United Bank for Africa (UBA) Plc., Ramon Olanrewaju Nasir, has lost his mother, Musiliat Amoke to the cold hands of death. She died on Thursday morning, July 25th, 2024 at Duchess International Hospital, Ikeja, Lagos. She died at the age of 86. As a Muslim, she was buried today by 4pm at her residence at 11 Oredola Estate, Okepadi, Ado-Odo, Ogun State. Until her death, Musiliat Amoke a.k.a Olowoletiasho was Iya-Oba of Imasayi Kingdom, Yewa, Ogun State. She was a devout Muslim.
By C. Don Adinuba No patriotic Nigerian should be delighted at the grave challenges facing the 650 barrels per day Dangote Refinery in Lagos. The challenges make efficient operations very difficult. Though Nigeria is a major oil exporter, the refinery commissioned early last year is now compelled to import crude from Brazil. The Nigerian Midstream and Downstream Petroleum Regulatory Authority ( NMDPRA) has accused it of producing substandard automative gas oil (AGO), and, worse, of having no licence for operation. Frustrated at the turn of events, Aliko Dangote, founder and chairman of the $19 billion industrial complex in Lekki…
Vincent Ezenagu The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has called for increased collaboration of all stakeholders in the fight against corruption. He made the call in Abuja on Tuesday, July 23, 2024 when the Old Students Association of Federal Government College Ikom, Abuja Chapter came on one-day familiarisation visit to the corporate headquarters of the EFCC. Olukoyede who spoke through the Head, Media and Publicity Unit and Spokesperson of the Commission, Dele Oyewale stated that winning the anti-corruption fight required multi-stakeholders’ collaborative involvement in all aspects of the fight including whistleblowing. “The fight needs collaborative synergy, collaborative whistleblowing, collaborative building and collaborative integrity to be defeated. Corruption…
Yemisi Izuora Following its successful launch in 2019, with the selection of 100 students nationwide, the annual Stanbic IBTC University Scholarship programme has proven to be a launchpad for Nigeria’s brightest minds to advance academically; providing a supportive environment to for them to reach their full potential. To further extend its impact, Stanbic IBTC increased the number of beneficiaries to 200 in 2023 and has sustained this increase for the second consecutive year. This expansion solidifies the programme as a remarkable opportunity to foster the development of Nigeria’s future leaders by recognizing and rewarding academic excellence. This University Scholarship…
Vale to Okafor The Nigerian Navy units across the Nation’s maritime domain uncovered a storage facility for illegal oil bunkering, rescued 4 fishermen and seized 56 bags of cannabis within the period. Specifically on Monday, 22 July 2024, the Quick Response Team of Nigerian Navy Ship PATHFINDER under the auspices of Operation DELTA SANITY, uncovered an illegal storage facility used by illegal bunkerers of crude oil and refined products at Egbema Okwuzi town in Rivers State. Accordingly, the team swiftly cordoned the area and arrested 2 suspects involved in the illegal activities. About 68,000 litres of illegally refined Automative…
Joseph Bakare President Bola Ahmed Tinubu has commissioned the ultramodern and digitalized National Cybercrime Centre to strengthen the efficiency of law enforcing agencies in the country. President Tinubu who spoke through the Minister of Communication, Innovation, and Digital Economy, Dr. Bosun Tijani at the unveiling of the cybercrime centre in Abuja states that the government is committed to investing in Nigeria’s Police Force through the procurement of sufficient arms, weapons, and other equipment as well as recruitment and continuous training to boast the number, quality, and preparedness of the police personnel. He said, “This administration remains resolute in the…
Francesca Odimgbe A new push for an aggressive investment inflow to boost Lagos State’s economic growth was, on Wednesday, led by Governor Babajide Sanwo-Olu at a Pre-Summit Investor Roundtable held in the State. Sanwo-Olu and his team in the State Executive Council reeled out new investment focus and areas of opportunities before potential investors at the third edition of Africa Social Impact Summit (ASIS 3.0) organised by Sterling One Foundation in collaboration with Ministry of Commerce, Cooperatives, Trade and Investment. The event with the theme: “Invest Lagos – Investment Opportunities” was held at Eko Hotels and Suites in Victoria…
Joseph Bakare The Nigeria Customs Service (NCS) is collaborating with the United States Customs and Border Protection Agency (CBP) on using Artificial Intelligence (AI) to curb the flow of illicit drugs and arms into the West African nation. To strengthen the partnership the Comptroller-General of Customs (CGC) Adewale Adeniyi recently held talks in Washington DC with officials from the CBP to address this issue. According to the CGC, the meeting is part of a determined effort to enhance operations in the face of increasing gang sophistication. “Earlier in the week, I was in San Diego for a conference on…