BUSINESS
ONNE FREE ZONE REMAINS TOAST OF INVESTORS — OGFZA
RIVERS - The Oil and Gas Free Zones Authority (OGFZA) has described its flagship Free Zone in Onne, Rivers State, as the toast of the global investing community and first port of call for those seeking opportunities for good return on investment in oil and gas related businesses. The Acting Managing Director of OGFZA, Mr Adekunle Ajayi, made the remark...
Adopt Zimbabwe’s Style To Curb Inflation, Obasanjo Urges FG
Former President Olusegun Obasanjo has advised the Federal Government to adopt the Zimbabwean model to weather the current storm of galloping inflation. He made the call at a Youth leadership symposium with the theme “Opportunities for Peace: Roles of The Youths in Conflict Prevention in Africa” held at Olusegun Obasanjo Presidential Library in Abeokuta, the state capital, as part of...
African Economy Can’t Industrialise In Darkness — AfDB President
President, African Development Bank (AfDB), Dr Akinwunmi Adesina, has said that no economy can industrialise in darkness, underscoring the importance of electricity in growing the fortunes of any nation. In appreciation of the need to electrify Africa, Adesina said that the World Bank Group and the AfDB are collaborating to provide energy access to 300 million Africans by 20230. Adesina and...
Fuel Scarcity Worsens, Abuja Black Marketeers Sell N350/Litre
The lingering fuel scarcity worsened in some parts of the country with motorists buying petrol between N300 and N350-litre in Abuja on Monday. Some Abuja residents, who spoke with our correspondent, lamented the spike in the price of PMS as well as t...
Humanitarian Affairs Minister, Edu Decries Low Budgetary Allocation To Her Ministry, Says N532.5bn Can’t Fight Poverty
The Minister of Humanitarian Affairs, and Poverty Alleviation, Beta Edu, has said that the amount allocated to her ministry in the 2024 budget was not capable of fighting poverty in the country. The Minister stated this on Tuesday when she led officials of her ministry and parastalas under it, to defend her 2024 budget before the Joint National Assembly Committee...
We’re Experiencing Low Patronage At Filling Stations, Petrol Marketers Cry Out
With the price of a litre of petrol now above ₦1,000 in most filling stations across Nigeria, petrol marketers have lamented low patronage at their retail outlets nationwide. The marketers said they are now cutting their workforce and work shifts because of high pricing and low returns on investment. The National President of the Petroleum Products Retail Outlets Owners Association of...
VIPs In Lagos, Abuja Responsible For Oil Theft In Niger Delta — Sen. Dickson
Senator Seriake Dickson representing Bayelsa West said some very important personalities (VIPs) from Lagos and the Federal Capital Territory, Abuja, are behind oil theft in Niger Delta. Dickson stated this in an interview on Channels Television on Friday. The two-term governor of Bayelsa State said the official system and oil companies are beneficiaries of oil theft in the Niger Delta. According to...
Amazon To Eliminate Over 18,000 Jobs
Amazon announced Wednesday it will cut more than 18,000 jobs from its workforce, citing “the uncertain economy” and the fact the online retail giant had “hired rapidly” during the pandemic. “Between the reductions we made in November and the ones we’re sharing today, we plan to eliminate just over 18,000 roles,” said CEO Andy Jassy in a statement to staff. US...
After Insisting That Petrol Import Will Continue, Operators Accuse FG Of Working Against Local Refineries
Some local refinery operators have lamented that the announcement made by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, stating that the Federal Government would continue to import fuel, shows that the government had taken sides against local refineries. The operators, under the aegis of the Crude Oil Refiners Association of Nigeria, expressed worry over the recent widely circulated interview...
We’ll Offer Tinubu Assistance In Nigeria’s Agric, Power Sectors, AfDB Assures
The African Development Bank has assured President Bola Tinubu that the Bank will support his efforts and vision in improving the agriculture and power sectors in Nigeria. The President of the AfDB, Akinwumi Adesina, disclosed this after a meeting with President Bola Tinubu on the sidelines of the New Global Financing Pact summit hosted by the French President, Emmanuel Macron,...
