BUSINESS

BPE will ensure NIPOST is one of the best integrated postal service provider in the world – Alex Okoh assures

Daily Dispatch November 14, 2018

Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh has reiterated the commitment of the Bureau to ensuring that the principle of integrity, professionalism and accountability which played out through the selection process of the Transaction Adviser is maintained

BUSINESS

Nigeria’s oil output to hit 1.8m bpd

Daily Dispatch November 14, 2018

Nigeria will increase its oil production to 1.8 million barrels per day next year, Nigeria National Petroleum Corporation (NNPC) Group Managing Director Maikanti Baru has said. The country will also raise condensate production to 0.5 million bpd, he added, according to Reuters. Nigeria produces 1.6 million bpd of oil and 0.4 million bpd of condensate. […]

BUSINESS

Aliko Dangote to acquire Kenya’s ARM cement

Daily Dispatch November 14, 2018

Aliko Dangote, Africa’s richest man and owner of Dangote cement in Nigeria, has revealed to be among bidders for Kenya’s struggling ARM; a cement maker company currently under the administration of accounting firm Price water house Coopers (PwC). The Nigerian business man, without naming the acquisition target; which in his opinion fits the ARM company, said he is in talks

BUSINESS

Official: NDIC saved N949bn depositors’ funds in failed Skye Bank

Daily Dispatch November 13, 2018

The Nigeria Deposit Insurance Corporation (NDIC) said it saved about N949.6 billion depositors’ funds in failed Skye Bank. Managing Director of the Corporation, Alhaji Umaru Ibrahim, disclosed this in Benin City on Tuesday at the opening of a workshop for financial journalists organised by the NDIC. He said that the saving was achieved through the […]

BUSINESS

Mambilla power plant to cost $5.72b

Daily Dispatch November 13, 2018

Nigeria’s 3, 050 Megawatts Mambilla Power Plant will cost US$5.72 billion, the minister of Power, Works and Housing, Mr. Babatunde Fashola has said. He said arrangements were at an advanced stage to secure the funds from the Chinese government in the form of loans. Fashola said at a ceremony to mark his three years in […]

BUSINESS

FG commences distribution of mills to end farmers-herders clashes (Video)

Daily Dispatch November 12, 2018

The Federal Government has commenced distribution of cattle feed mills and rice milling machines to increase local rice production and end farmers/herdsmen clashes across the country. Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, said the move was also to use agricultural wastes in feeding cattle and the larger ruminants. Ogbeh said in […]