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Lagos-Calabar Highway: American Investors Decry Destruction Of N375bn Investment

Lagos-Calabar highway: American investors decry destruction of N375bn investment
In a dispute over the destruction of their N375 billion real estate investment, a group of American investors has urged President Bola Ahmed Tinubu to step in. The investors, acting through the Association of Nigerians in Diaspora, assert that despite possessing the required certifications and approvals, the $250 million houses in Okun Ajah, Lagos State, were ordered to be demolished by the Minister of Works, Engr. David Nweze Umahi. Engr. Stella Ifeoma Okengwu, Managing Director of Winhomes Global Services Limited, claimed during a global press conference that Umahi’s actions show a pattern of unlawful demolition, power abuse, bribery, corruption, andRead More

Oil Marketers Raise The Alarm, Accuse Airline Operators Of Trying To Force Subsidy On Aviation Fuel

Aviation Turbine Kerosene (ATK), commonly known as aviation fuel
Wonder why only local airlines are complaining about rising ATK price, scarcity AON halts plan to suspend flight operations Chevron terminates Caverton’s contract Some petroleum products marketers have warned thatRead More

Long Fuel Queues Return In Abuja, Environs

Nigerian National Petroleum Corporation's spokesman, Mr. Garba Muhammad
After weeks of respite, following more than three months of punishing petrol scarcity nationwide, long queues have appeared in Abuja and adjoining states. Efforts to get the authorities, including theRead More

Tariff Hike: We Have Nothing To Hide, Says NERC

Nigerian Electricity Regulatory Commission (NERC)
The Nigerian Electricity Regulatory Commission (NERC) yesterday responded to insinuations that it hid the latest increase in power tariffs from Nigerians, saying that the organisation had no reason to hideRead More

NCC Issues 5G Licence To MTN, Mafab Communications

Nigerian Communications Commission (NCC)
Operators to roll out network in August The Nigerian Communications Commission (NCC) has confirmed the issuance of final letters of award of the Fifth Generation (5G) Spectrum Licences to MTNRead More

Nigeria Looks To Canada For Emergency Potash Supply To Replace Russia

Nigeria Sovereign Investment Authority (NSIA)
Nigeria bought emergency supplies of Canadian potash in April after the country was unable to import the key fertiliser ingredient from Russia, due to the impact of Western sanctions, theRead More

Nigeria’s Private Refineries’ Operators Groan Under Weight Of Crude Scarcity As NNPC Focuses On Export

Nigerian National Petroleum Corporation (NNPC)
he few small-scale refineries operating in Nigeria are facing a huge challenge of crude oil supply, as the Nigerian National Petroleum Company (NNPC) Limited continues to focus on exporting theRead More

Nigeria’s Oil Under-production Undermines OPEC Projection In April

Organisation of the Petroleum Exporting Countries (OPEC)
NNPC, partners produced 345,000kpd less last month Cartel to stick with supply plan despite growing pressure Nigeria, Libya and a handful of African countries again hobbled the projected oil productionRead More

FMN Completes Acquisition Of 71% Stake In Honeywell Flour Mills

Flour Mills of Nigeria Plc (FMN)
Flour Mills of Nigeria Plc (FMN) has announced that it has completed the acquisition of a 71.69 per cent stake in Honeywell Flour Mills Plc (HFMP). The company, which madeRead More

Badagry Deep Seaport: FG Receives Full Business Case Compliance Certificate From ICRC

Minister of Transportation, Rotimi Chibuike Amaechi
The federal government through the Ministry of Transportation yesterday received the Full Business Case Compliance Certificate on the Badagry Deep Seaport and the Modular Floating Dockyard from the Infrastructure ConcessionRead More

Zenith Sustains Position As Nigeria’s Best Bank For Three Consecutive Years In Global Finance Award

Zenith Bank Plc
Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Magazine’s Best Banks Awards 2022, retaining the award for a third consecutive year. The bankRead More