City BusinessNews, Author at City Business News

August 20, 2015 No Responses

Total suspends expedition of crude

CITING oil spill and fresh excavation on the pipeline’s right of way, the management of Total Exploration and Production Nigeria Limited has stopped the expedition of crude on its Obagi-Rumuekpe 12 oil export pipeline. In a statement signed by its...

August 20, 2015 No Responses

Probe Destination Inspection scheme, group tells Buhari

President of National Council of Managing Directors of the Licensed Customs Agents, Mr. Lucky Amiwero, has called on President Muhammadu Buhari to investigation the current operation of the Destination Inspection scheme. He alleged that the scheme had coll...

August 20, 2015 No Responses

Buhari directs NNPC to partner indigenous oil and gas firms

President Muhammadu Buhari has assured indigenous companies operating in Nigeria’s oil and gas sector of the full support and protection of his administration. At a meeting with members of the Independent Petroleum Producers Association in the Presidential V...

August 19, 2015 No Responses

‘NIMASA’s partnership with Nigerian Navy Beneficial to Maritime Sector’

The Acting Director General of the Nigerian Maritime Administration and Safety Agency, (NIMASA) Mr. Haruna Baba Jauro has described the partnership between the Agency and the Nigerian Navy as beneficial to the growth and development of the maritime sector and....

August 18, 2015 No Responses

UBA gets award as largest lender to agriculture

United Bank for Africa (UBA) plc has been honoured as Nigeria’s biggest lender to agriculture by the Lagos Chamber of Commerce and Industry (LCCI). Listing some of the consideration LCCI considered in selecting winning companies for the awards, Aderemi Bel...

August 17, 2015 No Responses

Buhari accept Dikko’s resignation

The President and Commander In Chief of the Nigerian Armed Forces, Alhaji Muhammadu Buhari GCFR, has approved the voluntary retirement of the Comptroller-General of Customs Dikko Inde Abdullahi CFR from service with effect from Tuesday 18th August 2015. 2. In....

August 17, 2015 No Responses

Nigeria has 146 private jets, says NCAA

NOT less than 146 private jets are in Nigeria. Confirming the development, the Nigerian Civil Aviation Authority (NCAA) disclosed that out of the 146 corporate jets, only 46 were registered in Nigeria while 100 has foreign registration. Director General of.....

August 17, 2015 No Responses

NNPC probes oil contracts

THE Federal Government through Nigerian National Petroleum Corporation (NNPC) has commenced review of all Production Sharing Contracts, Joint Venture Agreements and all other contracts between it and its various partners. Meanwhile, the NNPC is to meet t...

August 14, 2015 No Responses

Flour Mills to merge subsidiaries

THE management of Flour Mills of Nigeria Plc (FMN) has announced plan to conduct a restructuring by merging five of its subsidiaries with its holding company under a scheme of External Restructuring. According to the Group Managing Director, Flour Mills,...

August 13, 2015 No Responses

Buhari reinstates former NPA MD

President Muhammadu Buhari has terminated the appointment of the Managing Director of the Nigerian Ports Authority (NPA), Alhaji Sanusi Ado Bayero. The termination of Alhaji Bayero’s appointment is with immediate effect. A statement by the presidential s...

August 13, 2015 No Responses

NLNG not funding Badagry Dockyard, says BSMEC

The Badagry Ship Repair and Maritime Engineering Company (BSMEC) has responded to the ongoing controversy which trailed its recent decision to site a $1.5bn Dockyard project in Badagry, Lagos State. Speaking in Lagos on behalf of the consortium, Dr. Taiwo...

August 12, 2015 No Responses

At NSE, Berger paints pledges to lift shareholders returns

THE Managing Director and Chief Executive Officer of the Berger Paints Nigeria Plc, Mr. Peter Folikwe has pledged to lift shareholders returns.Speaking while addressing the management of the Nigerian Stock Exchange (NSE) during a courtesy visit, he said the co...

August 11, 2015 No Responses

Ministry under scrutiny over alleged diversion of N119b railway fund

President Muhammadu Buhari has queried the Ministry of Finance over alleged diversion of N119billion foreign loans secured to expand and develop rail projects. The loans were secured by the former administration of President Goodluck Jonathan. Buhari wan...

August 11, 2015 No Responses

FAAN canvasses quality aviation fuel

THE Federal Airports Authority of Nigeria, (FAAN) has enjoined aviation agencies to initiate quality control mechanism to strengthen and make Jet A1, the fuel used by aircraft safer. Managing Director of FAAN, Saleh Dunoma, an engineer, stated this du...