ALGON President Greets Sultan at 63

By Modupe Gbadeyanka On October 1, 2023, food enthusiasts and stakeholders will gather at the Tafawa Balewa Square, Lagos to have a taste of Nigerian cuisine at an event organised by 3X4 Foods, a subsidiary of 3 BY 4 Gourmet. The founder of 3X4 Foods, Ms Banke Makinde, said the programme, Street Food Celebration, would be used to showcase the Nigerian culture, through food, to the world. She said the event would provide an opportunity to celebrate Nigeria’s culture, history, and people through street food, and promote cultural entertainment, and delicious gourmet street food. According to her, Street Food Celebration

By Adedapo Adesanya Twenty-two oil and gas companies have been selected as successful bidders for the gas flare commercialisation programme of the Nigerian Upstream Petroleum Regulatory Commission ((NUPRC). The 2022 Nigerian Gas Flare Commercialization Programme (NGFCP) auction process was for 49 Flare Sites put forward by the agency under the erstwhile administration of Mr Muhammadu Buhari. The immediate past government in December 2016 launched NGFCP to involve third-party investors or off-takers in harnessing gas released as a by-product of oil production, a crucial part of the seven big wins of the administration for the oil and gas sector. Launched by

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By Dipo Olowookere Immediate-past governor of Delta State, Dr Emmanuel Eweta Uduaghan, has received yet another boost which will help reinforce his senatorial ambition as the tempo of political activities increases ahead of the 2019 general elections. This time around, one of the three ethnic groups making up the Delta South Senatorial District of Delta State, the Itsekiris, have thrown its weight behind the former governor citing his pedigree and antecedents as reasons for their unwavering support. Speaking recently on behalf of the ethnic group, the president of a political pressure group, Itsekiri Movement for Good Governance (IMGG), Mr Jolomi

European stocks are broadly higher on Thursday, with automakers leading the gainers amid reports the Trump administration might suspend threats to impose tariffs on cars imported from the European Union if the block lifted duties on U.S. cars. Investors also cheered data from Destatis showing German factory orders rebounded at a faster than expected pace in May. Germany factory orders jumped 2.6 percent month-on-month in May, in contrast to a revised 1.6 percent drop in April. Analysts expected orders to climb 1.1 percent. While the U.K.?s FTSE 100 Index has risen by 0.6 percent, the French CAC 40 Index and

By Adedapo Adesanya Oil prices closed higher on Tuesday as the market hopped on a weaker Dollar and hopes of a better economic stimulus in the United States. During the session, the Brent gained 30 cents or 0.54 per cent to sell at $56.20 per barrel, while the West Texas Intermediate (WTI) crude made a 0.45 per cent or 24 cents growth to trade at $53.22 per barrel. The US Dollar slipped from close to its highest in nearly a month, dropping 0.3 per cent and this strengthened the position of other currency holders as a weaker greenback increased their

By Modupe Gbadeyanka Minister of Labour and Employment Mr Chris Ngige, has assured Nigerians of the commitment of President Muhammadu Buhari’s administration to continue to protect the Nigerian workforce at their work places. The Minister who was represented by the Permanent Secretary, Federal Ministry of Labour and Employment, Dr. Clement Illoh gave this assurance recently while declaring open the validation workshop for Diving, Pressure Vessels and Lifting Equipment regulations. The Minister said, “Technology and Development come with various risks on the human wellbeing. The ever changing world of work requires effective and up to date intervention for a preventive safety

By Dipo Olowookere In a new move designed to reduce price and ease logistics inherent in the purchase of its products, the management of Dangote Cement Plc has signed a pact with the foremost e-commerce platform, Jumia Nigeria, to offer for sale its cement to customers online. At the unveiling of the deal in Lagos, Dangote Cement, Key Account Director, Mr Chux Mogbolu said Dangote Cement was happy to partner with online shopping giant, in a bid to make Dangote cement available with ease to customers. According to the deal, Nigerians and corporate bodies wishing to purchase a minimum of

By Adedapo Adesanya A court sitting in the United Kingdom has ruled against Nigeria in the $1.7 billion suit against JP Morgan Chase Bank over the transfer of proceeds from the sale of OPL 245. Judge Sara Cockerill of the Business and Property Courts of England and Wales Commercial Court held on Tuesday that the Nigerian government couldn’t show that it had been defrauded. The federal government had sued JP Morgan, alleging that the bank “ought to have known” that there was corruption and fraud in the transaction which saw Malabu sell its 100 per cent in OPL 245 to

By Modupe Gbadeyanka Group Managing Director of FBN Holdings Plc, Mr Urum Kalu Eke, has disclosed that in the first half of 2019, the company wrote off one of its largest non-performing loans (NPLs) belonging to Atlantic Energy Drilling Concepts Nigeria Limited. Speaking on the performance of the firm in the first six months of this year, Mr Eke said this development contributed to the reduction of the entity’s NPL ratio from the 25.9 percent it stood in December 2018 to 14.5 percent as at June 2019. He stated further that the financial institution was working towards achieving its target

By Adedapo Adesanya The local currency closed flat against the United States Dollar at the Peer-2-Peer (P2P) window of the foreign exchange (forex) market on Tuesday, closing at N585/$1, the same rate it was exchanged at the preceding session. At the cryptocurrency market, transactions closed bullish, unlike the previous day when things went awry after China announced fresh restrictions on crypto activities. At the market yesterday, nine of the 10 tokens tracked by Business Post appreciated, with Binance Coin (BNB) appreciating by 3.9 per cent to sell at N170,067.18, while Solana (SOL) rose by 1.8 per cent to trade at