Yemisi Izuora National President, Air Transport Service Senior Staff Association of Nigeria (ATSSSAN) Mr Benjamin Okewu, has said that the economic index for the aviation industry in 2015 appear positive despite seeming challenges. Okewu asked Nigerians to look at the future with confidence predicting resounding growth in the industry. He noted that the industry is expected to expand with the number of domestic airlines that are frequently springing up. “Not minding the devaluation of the Naira, the economic index are very promising for the aviation industry as we can see that the various domestic airlines are also increasing. “We have…
Author: orientalnewsng
Yemisi Izuora/Agency Report Nigeria recently joined the league of “Super Economies” or Mega Economies as it became Africa’s largest economy post rebasing its GDP. Growing at an average of 6-7% annually for the past five years and with a strong population of over 170 million people, the “Big Brother Country” west of the Sahara has a lot more to offer the investment world from its abundant natural reserves and human capital. Oil and Gas has been the country’s most powerful economic strength and resources for decades as the largest oil producer in the continent and 7th largest oil producing nation…
Ijeoma Agudosi/Joseph Bakare/Agency Report The price of oil has lost more than half its value in six months and it has taken everyone by surprise. The shock has been deepened by the global oil cartel OPEC refusing to cut supply. While theres feverish debate about how low the price can go, and how long these lows will hang around, energy companies like Santos have seen their share prices getting hammered. Credit Suisse equity analysts claim the oil and gas producer’s stock is worthless if the current price of oil and exchange rates continue. The investment bank’s hypothetical analysis found…
By Yemisi Izuora The Managing Director, Bank of Industry (BoI), Rasheed Olaoluwa, said the bank is supporting growth of Micro, Small and Medium Enterprises (MSMEs) in Nigeria through partnership it believed would endure. The said it has entered into a Memorandum of Understanding (MoU) with eighteen state governments to facilitate the bank’s support to MSMEs in those states. Olaoluwa said that BoI and the affected state governments had agreed on certain criteria for the support, adding,“At the last count we have 18 states government that we have signed MoUs with us,” he said on Thursday. “The purpose of the MoU…
Ijeoma Agudosi Anti graft agency, the Economic and Financial Crimes Commission has destroyed a syndicate of suspected fraudsters, who swindled their victims of over N300m, in cases involving different fake crude oil deals. The EFCC said the two members of the syndicate ─ Michael Morowie and Emmanuel Owoicho are in its custodyabout the to say what they know about the crude oil scam. The commisssions spokesman, Wilson Uwujaren, said, “EFCC moved against the syndicate following complaints by victims who had been fleeced by the alleged fraudsters. “An unsuspecting victim alleged that members of the syndicate collected N119m from him…
By Our Correspondent President Goodluck Jonathan Thursday launched his bid for re-election in Lagos at a time when Africa’s biggest oil producer faces a growing Islamic uprising in the northeast and a slump in oil prices and the national currency and monumental hunger and significant corruption in the land. Jonathan, 57, urged thousands of hired screaming supporters at a rally in Lagos to vote for him and “move Nigeria forward.” Jonathan is considered the front runner in the Feb. 14 elections, though his candidacy has split his party. Several governors from the predominantly Muslim north and elsewhere have defected to…
Source-Pulse.com Nigerians are rated third biggest investors in Ghana and here is a list of the bigwigs making that happen. You might have never heard of them or see them in public, but they are ones seated in the big executive chairs behind the CEOs and MDs tables at the head offices of various financial institutions, oil companies, insurance companies and other big multinational institutions managing and controlling the economy of Ghana. This has being a revelation through a research I conducted on heads of both Ghanaian and multinational institutions operating in Ghana. The result indicated that most of these…
Source-AP As the global economy has weakened, a forcefully stronger U.S. dollar has emerged. The fallout from the greenback’s appreciation is reverberating around the world. A more valuable dollar translates into cheaper oil and the imports lining U.S. store shelves. That represents both a boon for American consumers and a hardship for major oil producers such as Russia, Nigeria and Saudi Arabia. Major companies such as Nike, Costco and ConAgra Foods warn that the stronger dollar is cutting into their overseas revenue — a trend that could pressure some of the biggest brand names in the stock market. The combination…
By Yemisi Izuora ‘The Managing Director of SAHCOL, Mr Olu Owolabi recently granted interview to aviation journalists where he spoke on the state of affairs of the company, the aviation industry and many other issues, our aviation editor, Yemis Izuora was there’. WHEN DO WE EXPECT THE OPENING OF THE NEW WAREHOUSE ? Before the end of February 2015, we will start the test running of the facilities provided in the warehouse. The type of facilities there are a complete village on its own. We are looking at March 2015 for the formal opening of the new warehouse. HOW MUCH…
Yemisi Izuora Juliet Chukkas-Onaeko-D-G ITF The Industrial Training Fund (ITF) has endorsed a Memorandum of Understanding, MoU with the Oil and Gas Free Trade Zones Authority (OGFTZA) Onne to facilitate capacity building for the authority. Director General of ITF Dr. Juliet Chukkas-Onaeko speaking during the signing of the MoU, observed that, the Nigerian population is growing in leaps and bounds, and there is urgent need to harnessed this potential. Chukkas-Onaeko said shortage of technical and vocational skills is constraining enterprise development and restricting employment, adding, “Evidences from developed and emerging economies show that requisite expertise constitute a key platform for…