The NNPC Limited has said that it has established a Build, Operate and Transfer (BOT) plan for the renovation of pipelines and depots around the nation. It added that the initiative would successfully diversify the means of delivering petroleum products around the country, and that contracts for the BOT will be granted to successful investors this year. At the 23rd …

Dangote Cement Plc has announced the appointment of Arvind Pathak as the company’s new Chief Executive and Managing Director. The company disclosed in a statement that the new CEO’s tenure begins on 1 March. It stated that Pathak will replace Frenchman Michel Puchercos, who will exit from the firm at the end of February after three years at the helms …

In furtherance of the Nigerian Gas Flare Commercialisation Programme (NGFCP) of the Federal Government, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will hold a Bidders’ Conference/Investors Forum in Abuja on 2 February. The event will afford stakeholders and investors in Nigeria’s upstream petroleum sector the opportunity to seek clarifications on the programme. The conference is being organised barely a month after …

The Central Bank of Nigeria (CBN) has insisted that the deadline for the validity of the old N200, N500 and N1,000 remains next Tuesday, 31 January. But just as the CBN Governor, Mr Godwin Emefiele announced this at the CBN’s Monetary Policy Committee (MPC) meeting on Tuesday, the National Assembly asked the regulatory bank to extend the deadline for the …

In an attempt to address the skills gap in the employment sector and leverage Nigeria’s huge population of young people to drive economic prosperity, European businesses operating in the country and the European Union have said that the youth demographic has the potential to transform the country. At a stakeholders conference titled, “Youths, Education, Employment and Skills”, and hosted by …

The Federal Inland Revenue Service (FIRS) recorded the highest tax collection in its history with its figure of N10.1 trillion revenue in 2022. In a report by its Executive Chairman, Mr Muhammad Nami, which was released to the public on Monday after his briefing with President Muhammadu Buhari, the agency said: “The FIRS, in the year 2022 collected a total of …

Traders and commercial motorcylists are rejecting the outgoing Naira notes, which will cease to be lenger tender in seven days. Last 26 October, the Central Bank of Nigeria (CBN) announced that the redesigning of the N200, N500 and N1,000 notes, which would run side-by-side with the old versions until 31 January. President Muhammadu Buhari then launched the new notes on …

Flights at the Murtala Muhammed International Airport in Lagos state were grounded on Monday as staff members of the Nigerian Aviation Handling Company Plc (NAHCO) embarked on an industrial action over salary increment. Passengers at the airport are stranded and frustrated as moved around the premises. Many of the passengers protested over the situation. As a result, Qatar Airways made …

The latest prediction of the International Monetary Fund (IMF) that a third of the global economy will enter another recession in 2023 is unsettling news for Nigeria’s economy, which has consistently wasted chances to achieve growth and sustainable development. The World Bank has also decreased its projection for numerous regions. It estimates the rise in per capita income in sub-Saharan …

The Federal Government has approved N2.3 billion for the local assemblage of Magnus training aircraft. The project will be carried out at the Nigerian College of Aviation Technology (NCAT), Zaria in Kaduna State. The Minister of Aviation, Hadi Sirika in Abuja that the Nigerian aviation industry would soon move into the local manufacturing of aircraft. He said that Nigeria would …