BUSINESS
Nigerian Refineries Damaged Beyond Turnaround Maintenance – NNPC
The Nigerian National Petroleum Corporation (NNPC) yesterday attributed the prolonged neglect of overhauling the refineries in the country to the delay in making them functional. It declared the refineries as damaged beyond the usual Turnaround Maintenance (TAM). However, to revamp them, the national oil is embarking upon total rehabilitation of the plants, which despite currently being non-functional, gulp about N10 billion...
US Oppose Okonjo-Iweala’s Election As WTO DG, Give Reasons
The United States has explained why it is against the election of Ngozi Okonjo-Iweala as the next director-general of the World Trade Organisation (WTO). In a statement issued by the office of the US trade representative on Wednesday, the world power said the WTO is in dire need of reform and must be “led by someone with real, hands-on experience...
FG Rejects Proposal To Fix Ports’ Scanners With N753m
There is an indication that the five faulty scanners at the Apapa ports have been abandoned as the Federal Government rejects proposal to repair them at a cost of N753 million. This development, Vanguard Maritime Report learnt, comes at the backdrop of the move by the government to acquire 300 new scanners at the cost of N688.6 billion as recently...
Banks Lose Over N1bn As Hoodlums Wreck ATMs, Branches
Deposit Money Banks (DMBs) in the country likely lost over a billion naira, last week, to the destruction of their facilities across the country by hoodlums hiding under the umbrella of the #End- SARS protests, findings by New Telegraph show. The protests, which began on October 7 with calls to disband the Special Anti- Robbery Squad (SARS), an infamous Police...
Ban Tomato Importation, Dangote Tells FG
The Managing Director of Dangote Tomato Processing plant in Kadawa, Kano State, Abdulkarim Kaita has on Thursday called on the Federal government to ban the importation of tomato paste-like it ban rice importation into the country. This was as he decried importation of tomato paste which he said was still thriving as the commodity was being imported from Cameroon and...
I Won’t Sign 2021 Budget If Provision For Victims Of Police Brutality Is Excluded – Gbajabiamila
The Speaker of the House of Representatives, Femi Gbajabiamila, has disclosed that he will not sign the 2021 budget if provision for compensation to victims of police brutality is excluded. Mr. Gbajabiamila also disclosed that he will be visiting families of victims of police brutality across the country. He also appealed to the protesters to suspend the ongoing protests. Gbajabiamila stated these...
Nigeria Has Lost N700 Billion In 12 Days Of #ENDSARS Protest – LCCI
The Lagos Chamber of Commerce and Industry (LCCI) says the Nigerian economy has lost N700 billion in 12 days due to the ongoing #EndSARS protests. There have been protests nationwide against the brutality of the special anti-robbery squad(SARS) of the police force. In a statement on Monday, Toki Mabogunje (pictured), LCCI president, said the protests have crippled economic activities in the...
DStv, GOtv Undergoing Upgrade, Not Hacked – MultiChoice
MultiChoice says claims circulating on social media that its entertainment platforms – DStv and GOtv- have been hacked was not true. A representative of the company who pleaded anonymity told The PUNCH (not ABN TV) on Sunday. It was gathered that the Pay-TV company was upgrading its system and had informed its subscribers via text messages last week. The company told its...
Dangote Refinery, Others Threaten Existing Plants – OPEC
New refining capacities expected to come on stream in Nigeria and other African countries in the next few years may increase pressure on existing plants on the continent, the Organisation of the Petroleum Exporting Countries has said. OPEC, in its newly released 2020 World Oil Outlook, estimated refining capacity additions between 2020 and 2025 at around 5.2 million barrels per...
BREAKING: Okonjo-Iweala Elected First Female Leader Of WTO
All indications are that Dr Ngozi Okonjo-Iweala has been Elected as the first female leader of the World Trade Organisation (WTO). A source revealed that Dr Okonjo-Iweala is the top choice for the job, although her contender, Yoo Myung-hee of the Republic of Korea, is still very much in the race. See the full WTO statement titled “WTO members narrow field...
