Niger State Applies For 2 Oil Blocks, Targets Own Refinery

Niger State Applies For 2 Oil Blocks, Targets Own Refinery

n a bid to harness the full benefits of becoming an oil producing state, Niger State government has applied for two oil blocks. The state governor, Abubakar Sani Bello, who gave the hint yesterday said the state is currently positioning itself and has engaged the services of an international firm, Whitepage International Consultant to guide its programmes. Accordingly, the state government has created the department of oil and gas within the ministry of mineral resources…

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Adeosun woos global bodies in the fight against foreign corrupt practices

Adeosun woos global bodies in the fight against foreign corrupt practices

The Minister of Finance, Mrs Kemi Adeosun, has urged global bodies like the World Bank to help curb foreign corrupt practices by multinational corporations in Nigeria and other developing countries. The Special Adviser to the Minister on Media and Communications, Mr Oluyinka Akintunde, in a statement on Monday, quoted Adeosun as making the call at the Platform for Collaboration on Tax (PCT) Conference in New York. “There is absolute need for a complete understanding of…

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Export Barge Yet To Arrive Apapa Port 10 Days After Flag-off

Export Barge Yet To Arrive Apapa Port 10 Days After Flag-off

The barge conveying the first export of manganese, a solid mineral resource from the Ikorodu Lighter Terminal has not arrived Apapa port, 10 days after flag-off, LEADERSHIP can report. Recall that the managing director of the Nigerian Ports Authority (NPA), Ms. Hadiza Bala-Usman had on Wednesday, February 7 flagged-off the exportation of the solid mineral from Ikorodu to APM Terminal, Apapa through badges. Ms. Usman at event said the movement of the solid mineral is…

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Dana Air, Asky Sign Interline, Aircraft Agreements

Dana Air, Asky Sign Interline, Aircraft Agreements

Dana Air yesterday signed an interline agreement with Asky airline, Africa’s regional power house in Lagos. Dana Air’s strategic route and fleet expansion programme also received a major boost, with the signing of an aircraft partnership agreement with the airline to add some new generation aircraft to its fleet Speaking at a brief signing ceremony at Dana Air’s corporate head office in Lagos, group managing director of the airline, Jacky Hathiramani said, “We have taken…

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AFRICAJapan Gives $700m Loan To AfDB

AFRICAJapan Gives $700m Loan To AfDB

The Japan International Cooperation Agency (JICA) has signed a $700.9 million loan agreement with the African Development Fund (ADF). The loan is designed to provide an Official Development Assistance (ODA) and is part of Japan’s contribution to the African Development Fund’s Fourteenth Replenishment (ADF-14). This is the first JICA loan provided to the ADF. The loan will provide the African Development Fund with resources to support recipient countries during the ADF-14 period (January 1, 2017…

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Nigeria, biggest loser of illicit financial flows in Africa – Adeosun

Nigeria, biggest loser of illicit financial flows in Africa – Adeosun

Nigeria is the biggest loser of the 50 billion dollars illicit financial flows out of Africa annually, Minister of Finance, Mrs Kemi Adeosun, has said.Adeosun stated this while speaking on the issue of taxation and revenue leakages at a tax conference organised by the Organisation for Economic Cooperation and Development at the UN Headquarters in New York. The Correspondent of the News Agency of Nigeria (NAN) reports that Adeosun was on a panel that discussed…

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Soaring US Crude Production Rattles Oil Price

Soaring US Crude Production Rattles Oil Price

Lagos Oil prices yesterday traded close to their lowest levels this year, with soaring U.S. output undermining Organization of Petroleum Exporting Countries (OPEC’s) efforts to tighten markets and prop up prices. Brent crude futures were at $65.28 per barrel down 23 cents, or 0.4 percent, from the previous close. U.S. West Texas Intermediate (WTI) crude futures were at $61.58 a barrel and that was down 21 cents, or 0.3 percent, from their last settlement. The…

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Manufacturers Decry Smuggling Despite Govt Ban

Manufacturers Decry Smuggling Despite Govt Ban

Despite government intervention to stop importation of some products into the country, smugglers still find their way to bring in these goods. LEADERSHIP gathered that presently, imported tomato paste competes with local ones which in a way affect the business of people producing locally. Recently, the Manufacturers Association of Nigeria (MAN) in separate interviews with our correspondent, called on federal government to reduce importation of concentrated tomato paste. MAN President Dr. Frank Jacobs maintained that…

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ECOWAS Imposes Sanctions On Politicians, Businessmen

ECOWAS Imposes Sanctions On Politicians, Businessmen

ECOWAS has imposed sanctions on 20 Guinea-Bissau politicians and businessmen, including travel bans and asset freezes, accusing them of undermining efforts to resolve a prolonged political crisis. According to Agency report the decision followed the nomination by President Jose Vaz to the post of prime minister late January, in violation of a 2016 ECOWAS-brokered deal. Among those targeted by the sanctions were members of Vaz’s parliamentary faction as well has his son, Emerson Goudiaby Vaz….

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Equities Market Opens Week With 0.85% Decline

Equities Market Opens Week With 0.85% Decline

The Nigerian equities market opened the week, yesterday on a bearish note with a decline of 0.85 per cent. In summary, the All Share Index (ASI) shed 378.27 absolute points, representing a decline of 0.85 per cent to close at 44,261.72 points. Similarly, the market capitalisation shed N135 billion, to close at N15.884 trillion. The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, Forte Oil, Julius…

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