BUSINESS

Shell’s annual profit triples to $13bn

Daily Dispatch February 1, 2018

Royal Dutch Shell said Thursday that profit after taxation almost tripled to just under $13bn (10.5 billion euros) in 2017, energised by rising oil and gas prices. Net or bottom-line earnings for the full year compared with a figure of $4.6 billion in 2016, the Anglo-Dutch energy giant revealed

BUSINESS

ISPS Code: Nigeria’s maritime security not updated in US – NIMASA

Daily Dispatch February 1, 2018

The Nigerian Maritime Administration and Safety Agency (NIMASA) has bemoaned the continuous display of Nigeria’s 2013 Global Integrated Ship Information System (GISIS) by the United States Port Security Advisory (PSA) despite the fact that the nations GISIS has been successfully updated since 2017. This is even as NIMASA called on the US PSA to update […]

BUSINESS

Nigeria accounts for about 57% of the world Shea nut production – Minister

Daily Dispatch January 31, 2018

The Minister of State for Industry, Trade and Investment, Hajiah Aisha Abubakar, has said that Nigeria accounts for about 57 per cent of the world Shea production. Abubakar said this at the introduction of the upcoming 11th Annual International Shea Conference themed: “Shea 2018” focused on “Going Further Together” on Tuesday in Abuja. She said […]

BUSINESS

$16 BILLION EGINA PROBE: SAMSUNG HEAVY INDUSTRIES CONTRACT VARIED FROM $3.1BILLION TO $3.5BILLION

Daily Dispatch January 31, 2018

Samsung Heavy Industries (SHI), one of the major companies handling the $16 Billion Total Upstream Nigeria Limited Egina Deep Sea oil project had its contract of about $3.1billion varied to $3.5Billion in one of the numerous variations in the cost of the deep sea oil project. This revelation came to light when executives of the […]

BUSINESS

NPA gives Intels two weeks to pay $48m

Daily Dispatch January 31, 2018

The face-off between the Nigerian Ports Authority (NPA) and Intels Nigeria Limited (Intels), a company co-owned by former vice president, Atiku Abubakar is not over yet. This is as the NPA has handed a two-week ultimatum to the company to remit an outstanding $48 million that ought to have been paid into the agency’s Treasury […]

BUSINESS

World Bank: Support to Nigeria, others hit $14bn

Daily Dispatch January 30, 2018

The World Bank Nigeria Country Director, Mr Rachid Benmessaoud, says that the Bank’s support to fragile states, including Nigeria has hit 14 billion dollars. The support which came through the International Development Association (IDA) arm of the bank, double in the last one year says the Bank’s country representattive. Benmessaoud said this on Tuesday in Abuja […]