FCTA earns N1.7bn from building approvals, demolishes 11,705 shanties The Department of Development Control of the Federal Capital Territory Administration says it demolished a total of 11,705 shanties across the territory between January and October 2023. The department also said it generated N1.7bn from building plans approvals, adding that it created 13,873 direct and indirect…
Eight firms lose N918.1bn to floatation of Naira Eight firms have declared N918.1bn as currency revaluation loss following a 68.55 percent decline in the value of the naira against the dollar as of the end of September 2023. Following a Central Bank of Nigeria move in June to allow the market to determine the value…
FG intensifies war against oil theft, eyes 1.9m bpd The Minister of State for Defence, Bello Matawalle, says the Federal Government has achieved a lot in the fight against oil theft. Matawalle, in an interview with the News Agency of Nigeria, said many practical gains had been recorded in the resolve to end oil theft…
OTL showcases market insights, innovation, opportunities, others in petroleum downstream – Organisers The organisers of the Oil Trading and Logistics Africa (Downstream) have said that the leading continental annual downstream conference and exhibition that holds in Lagos, Nigeria, is much more than a forum of industry players and stakeholders as it brings to the fore…
EKEDC decries energy theft, illegal connection in Lekki Eko Electricity Distribution Company (EKEDC) has decried the rising energy theft and illegal connection by residents within the Lekki business unit and threatened to prosecute anyone caught in the act. Dr Tinuade Sanda, the Chief Executive Office, EKEDC, said this during the customers’ engagement forum in Lagos…
NDIC pays N1.3bn to 36,163 depositors, warns against patronising wonder banks The Nigeria Deposit Insurance Corporation (NDIC) has urged Nigerians to stay away from patronising wonder banks and Ponzi schemes even as it has paid out N1.393 billion to 36,163 insured depositors. The corporation also said it has been able to pull together N16 billion…
EKEDC celebrates 10 years anniversary, commends employees’ technological integration, customers *Sets audacious goals for the next decade Eko Electricity Distribution Company has heaped praises on its employees for their outstanding efforts in making the Organization a trailblazer in the power sector as it marks its 10th anniversary. In the anniversary address by the Managing Director,…
Rising price of domestic cooking gas not caused by Nigeria LNG, says Management Nigeria LNG Limited (NLNG) has noted media reports insinuating that a price hike by the Company is responsible for the surge in the price of domestic Liquefied Petroleum Gas (LPG), commonly known as cooking gas, in the domestic market and predicting that…
*Reps condemn needless loans, contracts The Federal Government has described as worrisome the rise in public expenditure amid dwindling revenue accruals. The Accountant General of the Federation, Mrs Oluwatoyin Madein stated this on Wednesday at an interactive session on the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper organised by the House of Representatives…
Seplat Energy congratulates Orodje of Okpe on investiture as Chancellor, honorary doctorate Seplat Energy Plc extends its warmest congratulations to His Royal Majesty (Maj-Gen) Felix Mujakperuo (rtd.), Orhue I, CFR, mni, the Orodje of Okpe Kingdom, on the occasion of his investiture as the Chancellor of The Nigerian Army University, Biu (NAUB) in Borno State,…
