Nigerian Oil Workers Threaten to Shut Down Chevron

By Adedapo Adesanya The Governor of Lagos State, Mr Babajide Sanwo-Olu, has moved to end the impasse between the State Assembly and the executive arm of government as he replaced five names on a new list of commissioner-nominees. In the new list sent to the House of Assembly, Mr Sanwo-Olu replaced the names of Mrs Folashade Adefisayo, Mr Solape Hammond, Mrs Aramide Adeyoye, Mr Lekan Fatodu, and  Mr Rotimi Ogunwuyi with six new names –  Mr Afolabi Tajudeen, Mr Akinyemi Ajigbotafe, Mrs Tolani Sule-Akibu, Mr Yekini Agbaje, Mrs Iyabode Ayoola and Mrs Sola Giwa. This was disclosed by the Clerk

By Modupe Gbadeyanka Two directors have been appointed to the leadership team of Airtel Nigeria, with an expectation that the appointees will bring about a new era of innovation and growth within the business. The appointed persons are Ms Kemi Ariyo as the new Director of Information and Technology and Mr Harmanpreet Singh Dhillon as the Director of Network Transformation and Planning. The chief executive of Airtel Nigeria, Mr Carl Cruz, while commenting on the appointments, said the notably experienced Ms Ariyo would play a pivotal role in driving Airtel Nigeria’s digital transformation efforts and the company is pleased to

By Adedapo Adesanya Vice President Kashim Shettima has lauded Google’s N1.2 billion grant to the federal government’s one million jobs scheme. In a statement from Mr Olusola Abiola, the Director of Information at the Office of the Vice President, the announcement of a grant of N1.2 billion to support the administration of President Bola Tinubu’s digital jobs initiative was commendable and worthy of emulation by other companies as he received some executives of Google at the Presidential Villa on Monday. “Let’s think outside the box and create more job opportunities. We need to walk the talk. It is easy to

By Dipo Olowookere One of the news anchors of a local broadcasting company, TVC, Mr Mike Okwoche, has exited the organisation after 11 years. The broadcaster announced his resignation from the Lagos-based firm last week, though he did not disclose his future direction. Also, the television platform announced the departure of his top employee, who has won several awards, from the company. “On TVC Breakfast today, TVC News award-winning Senior anchor, Mike Okwoche, officially announces his departure from TVC after 11 years of stewardship,” the broadcast station stated. Mr Okwoche, during last Friday’s TVC Breakfast Today, said, “I must say

By Dipo Olowookere Some large-cap stocks led by Dangote Cement lifted the equity market on Wednesday by 1.68 per cent after closing bearish in the first two sessions of this week. A total of 38 shares appreciated in price at the exchange yesterday as against the eight price decliners, increasing the All-Share Index (ASI) by 575.18 points to 34,818.01 points from 34,242.83 points. The performance of these 38 stocks boosted the market capitalisation of the local bourse by N301 billion, closing at N18.194 trillion in contrast to N17.893 trillion it ended on Tuesday. The sum of N7.90 was gained by

By Aduragbemi Omiyale There are fears that Nigeria and other developing countries across the globe could lose as much as $500 billion per year to natural disaster damages triggered by climate change by 2050 if urgent steps are not taken to avert this. In a Fair Tech Institute whitepaper released by Access Partnership, a leading global public policy firm for the technology sector, it was stated that currently, the agricultural sector of the economies of these nations has lost about $108 billion to natural disasters through damaged crops and livestock production. As a result, the paper is advising governments and

By Cowry Asset In the just concluded week, OTC bond prices climbed amid boost in liquidity. Specifically, the 20-year, 10 percent FGN JUL 2030 paper, the 10-year, 16.39 percent FGN JAN 2022 debt, the 7-year, 16.00 percent FGN JUN 2019 and the 5-year, 14.50 percent FGN JUL 2021 debt appreciated by N0.66, N0.63, N0.70 and N0.67 respectively; corresponding yields fell to 16.35 percent (from 16.52 percent), 16.26 (from 16.47 percent), 16.21 (from 16.67 percent) and 16.35 percent (from 16.60 percent). Elsewhere, FGN Eurobonds traded on the London Stock Exchange (LSE) depreciated in value for most of the maturities amid renewed

By Modupe Gbadeyanka Nigerians have been alert of an impending scarcity of Premium Motor Spirit (PMS) commonly known as petrol. This warning was given by the Vice National President of Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr Abubakar Maigandi. According to Mr Maigandi, the looming fuel scarcity may come as a result of private depot owners selling the product above pump price of N145 per litre. He explained that owing to the prevailing situation in the depots nationwide, marketers in far areas may increase their pump prices. “Our members have started complaining about the issue of this price increase

By Ahmed Rahma For delivery innovative services to clients comprising big organisations, Comviva, a global leader in providing digital solutions, has won some awards. The company was recently announced as the winner at the 2020 Glotel Awards, 2020 Telecoms World Awards, 2020 CX Asia Excellence Award and The RemTECH Awards 2020 for its mobiquity COVID-19 response. During the COVID-19 crisis, digital financial services emerged as important tools in the fight against the pandemic. From allowing consumers to conduct hygienic contactless payments at merchants and make essential money transfers and utility payments remotely from home during the lockdown, enabling governments to

By Dipo Olowookere A fresh outbreak of Ebola Virus Disease (EVD) has been confirmed in Bikoro in Equateur Province of Democratic Republic of Congo. The government of DR Congo on Tuesday declared the new outbreak after laboratory results confirmed two cases of EVD. This is DRC’s ninth outbreak of EVD since the discovery of the virus in the country in 1976. In the past five weeks, there have been 21 suspected viral haemorrhagic fever in and around the iIkoko Iponge, including 17 deaths. The Ebola virus causes an acute, serious illness which is often fatal if untreated. The average EVD

By Modupe Gbadeyanka HexaTech Inc. announced today the signing of two strategic agreements with OSRAM Opto Semiconductors GmbH, of Regensburg, Germany. The agreements include a long term supply commitment for HexaTech’s aluminum nitride (AlN) substrates, direct support of HexaTech’s 2” diameter substrate development program, as well as licensing of certain HexaTech intellectual property (IP). HexaTech, the world’s leading commercial supplier of single crystal AlN substrates, has developed a unique and valuable knowledge base for optoelectronic, high power and RF (radio frequency) applications based on its proprietary material, helping to activate and promote a significant market pull for its underlying substrate

By Dipo Olowookere The board of Transcorp Hotels has been given the go-ahead to offload all the company’s stake in loss-making Transcorp Hotels Calabar Limited. The company’s subsidiary in Cross River State has not been profitable, and shareholders are growing impatient with the development. At the Annual General Meeting (AGM) of Transcorp Hotels last Monday in Abuja, shareholders authorised the board to sell off the company’s 100 per cent stake in the entity because it was not making a positive contribution as expected. In a notice filed to the Nigerian Exchange (NGX) Limited, Transcorp Hotels confirmed that this was one