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SNEPCo’s Bonga delivers 702 million oil barrels for Nigeria in 12 years

  The Bonga oil field has produced about 702 million barrels of oil since inauguration in 2005, and operated at more than 92 percent availability in 2016, Managing Director of the oil field operator, Shell Nigeria Exploration and Production Company (SNEPCo), Bayo Ojulari, has said. The volumes came from the Bonga main field and Bonga Phases 2 and 3 that ... Read More »

S&P assigns ‘B/B’ ratings to UBA Plc

International Rating Agency, Standard and Poor’s (S&P) assigned  its ‘B’ long term and ‘B’ short term global scale counterparty credit ratings to the United Bank for Africa Plc (UBA). These ratings on the pan African financial institution, United Bank for Africa (UBA) Plc, are at par with S&P ratings on the Nigerian Sovereign. More so, S&P’s ‘B’ rating is the ... Read More »

Lagos terminates N844b Fourth Mainland Bridge contract

Lagos State government has terminated its contract with investors for the building of the proposed N844billion Fourth Mainland Bridge. Commissioner for Waterfront and Infrastructure Development Adebowale Akinsanya, addressing reporters yesterday in Alausa, Lagos, said the government was considering proposals from foreign investors in the United States of America and Britain to accelerate the commencement of the project. Akinsanya, an engineer, ... Read More »

British Airways slashes fares for customers flying Abuja-London route

Customers flying British Airways (BA) through its Abuja-London route and vice-versa from the Nnamidi Azikwe International Airport (NAIA) would pay a slashed fare of $277 between May 15, 2017 and June 30, 2017 for one way trip. Mr. Kola Olayinka, British Airways Regional Commercial Manager, West Africa, said this in statement on Sunday in Lagos. The statement was made available ... Read More »

Collapsed Lagos building: Developer ‘flouted stop-work order’ – Govt.

The developers of the three-storey building which collapsed in Ilasamaja in Lagos, Thursday, “criminally unsealed a stop work order on the building” and continued construction before eventual collapse, the Lagos State Government has said. Speaking to journalists after an assessment of the collapsed site, the Commissioner for Physical Planning and Urban Development, Wasiu Anifowose, said the building in question was ... Read More »

Osinbajo Receives 2017 Budget From National Assembly

  Acting President Yemi Osinbajo has received the 2017 Appropriation Bill from the National Assembly, eight days after the lawmakers passed the bill. The Special Adviser to the President On National Assembly Matters, Ita Enang, disclosed this to State House Correspondents today. The Senior Special Assistant to the Acting President on Media, Mr Laolu Akande, also confirmed the development via his ... Read More »

Court Orders Final Forfeiture Of N449m Found In Lagos Shop

The Federal High Court sitting in Lagos has ordered the final forfeiture of the sum of N449,597,000 found in an abandoned Bureau de Change shop on Victoria Island, Lagos. Justice Rilwan Aikawa ordered the forfeiture after listening to an application brought before him by the Economic and Financial Crimes Commission. The judge ordered that the funds should be forfeited to ... Read More »

FG to review minimum wage committee’s report

The Minister of Labour and Employment, Chris Ngige, on Friday rekindled hope of a new minimum wage in the country. He said the Federal Executive Council (FEC) is set to review the report of the joint committee on the National Minimum Wage at its next meeting on Wednesday. Ngige told journalists in Abuja that the 16- man Technical Committee on ... Read More »

EU bars Med-View Airline over safety concerns

The European Commission has barred a Nigerian carrier, Med-View Airline, from operating in its airspace over safety concerns. The airline is one of those under the EU Air Safety List Annex A, which have been banned from operating in Europe. A total of 181 airlines were prevented from flying into Europe, with 174 airlines barred due to safety oversight by ... Read More »

Dangote, Adenuga, Alakija, Others can end poverty in Nigeria – Report

The Inequality report released by Oxfam International on Wednesday, revealed that the combine wealth of five richest Nigerians, put at $29.9 billion, could end extreme poverty in the country. The Five Nigerians include Aliko Dangote, Mike Adenuga, Mrs Folrunsho Alakija, Femi Otedola and Jim Ovia. The report, entitled ‘’Inequality in Nigeria, Exploring the Drivers” exposed the large and growing gap ... Read More »