Nigerian Gas Company HQ Stays in N’Delta–NNPC Insists

By Adedapo Adesanya  The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has projected that its Industry Sustainability Initiative (NISI) will create over $575 billion in capital investment opportunities for Nigeria through the decarbonisation of operations. According to a statement, NMDPRA, while hosting a session on Nigeria’s Pathway to Energy Sustainability and NMDPRA’s Role at the UN Climate Change Conference 2023 (COP28) in Dubai, UAE, x-rayed Nigeria’s journey towards reducing carbon emission and achieving Net Zero by 2060. Speaking at the event, Mr Mustapha Lamorde, the authority’s Executive Director on Health, Safety, Environment and Community (HSEC), said the investment would be

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.18 per cent gain to open the week in positive territory on Monday, December 4, with the unlisted security index rising by 1.59 points to end the day at 862.40 points compared with last Friday’s closing value of 860.81 points. The improvement recorded by the bourse yesterday raised the value of the unlisted stock exchange by N2.5 billion to close at N1.169 trillion, in contrast to the preceding session’s N1.166 trillion. The gain posted by the bourse was driven by the N13.70 added to the share price of 11

By Adedapo Adesanya The African Development Bank Group (AfDB) has revealed that a $1 billion facility would be used to provide insurance to more than 40 million farmers across the continent against severe impacts of climate change. Initially unveiled at the Africa Climate Summit held in Nairobi in September, the Africa Climate Risk Insurance Facility for Adaptation (ACRIFA) brings together governments, development agencies, the insurance sector and the private sector, said the president of the bank, Mr Akinwumi Adesina, while speaking during a side event at COP28 in Dubai. He said ACRIFA aims to mobilise $1 billion of concessionary financing,

By Dipo Olowookere One of the leading airline operators in Nigeria, Aero Contractors, has announced the indefinite suspension of its operations, citing the rising cost of maintenance, inflation and foreign exchange (FX) scarcity, amongst others as the reason for its action. In a statement issued on Monday, the company, which is the oldest airline in the country, said the suspension of its flight operations will become effective Wednesday, July 20, 2022. The firm said in the past months, it has been struggling to remain in business despite “the high cost of maintenance, skyrocketing fuel prices, inflation, and forex scarcity” and

By Adedapo Adesanya The Director-General of the National Institute of Pharmaceutical Research and Development (NIPRD), Dr Obi Adigwe, has called for the inauguration of a National Vaccine Development Technical Working Group with a working secretariat. This, according to him, will help overcome the challenges hindering vaccine development and production in the country. He made his position known while making a presentation at a just-concluded National COVID-19 Summit in Abuja. The summit was put together by the Presidential Steering Committee (PSC) on COVID-19 to fashion out solutions towards ending the pandemic and building back the economy better. The two-day summit which

By Ashemiriogwa Emmanuel At the end of The Next Titan Season 8, Nigeria’s foremost business reality TV show, the most talented youth with outstanding entrepreneurial acumen will go home with the sum of N15 million, the organisers have promised. The programme, which is tagged The Uncaged, is a 10-week competition where entrepreneurs from across the country will carry out weekly business tasks and challenges as teams or individuals with weekly evictions in the boardroom by the judges. Chiefly sponsored by Heritage Bank, this season saw entries from more than 20,000 participants, but only 75 made it through auditions in Abuja,

By Investors Hub The major U.S. index futures are pointing to a lower opening on Friday following the release of a report from the Labor Department showing much weaker than expected job growth in the month of March. Geopolitical concerns may also weigh on the markets after the U.S. launched a missile strike on a Syrian airbase overnight. Stocks managed to end Thursday’s trading modestly higher but well off their best levels of the session. The uptick on the day came on the heels of the late-day pullback that was seen on Wednesday. The major averages ended the day just

By Aduragbemi Omiyale The Independent National Electoral Commission (INEC) has been granted permission to reconfigure the Bimodal Voter Accreditation System (BVAS) for the governorship and state houses of assembly elections slated for March 11, 2023. The permission was granted by a three-member panel of the court of appeal led by Justice Joseph Ikyegh in Abuja on Wednesday on the condition that the data is uploaded to a back-end server of INEC and the true certified copy made available to the respondents. The candidates of the Labour Party (LP), Mr Peter Obi, and the Peoples Democratic Party (PDP), Mr Atiku Abubakar,

By Modupe Gbadeyanka Nigerians have been assured that the 2017 budget presented to the National Assembly by President Muhammadu Buhari few days ago would bring about the expected change in the economy. This assurance was given by National Publicity Secretary of the All Progressives Congress (APC), Mr Bolaji Abdullahi, while addressing newsmen in Ilorin, Kwara State. The ruling party’s spokesman noted that the appropriation bill would address the current hardship in the country, but pleaded with Nigerians to persevere saying that the hardship would be reduced next year. According to him, President Muhammadu Buhari is doing his best economically to

By Modupe Gbadeyanka The Central Bank of Nigeria (CBN) has revealed that it only operates one website, warning the general public to be careful of fraudsters. “The attention of the Central Bank of Nigeria (CBN) has been drawn to a scam being perpetrated by some fraudulent persons whereby unsuspecting members of the public are diverted to a fake website purported to belong to the Central Bank of Nigeria. “There is the danger of these fraudsters extorting money from victims based on false claims that the payments made are to either guarantee or secure loans from the various intervention Funds of

By Modupe Gbadeyanka Young Africans who seek for funding to boost their start-ups can now apply to take a bite from the 10-year, $100 million set aside by the Tony Elumelu Foundation (TEF) for the purpose. The TEF Entrepreneurship Programme is open to citizens and legal residents of all African countries, who run for-profit businesses based in Africa that are no older than three years and the deadline for applications submission is March 1, 2019. Organisers said applications will be judged based on criteria including: feasibility, scalability and potential for growth of the product/service; market opportunity for the idea/business; financial