BUSINESS

$16 BILLION EGINA PROBE FALLOUT: NATIONAL ASSEMBLY TO AMEND LOCAL CONTENT ACT

Daily Dispatch January 28, 2018

As the investigation into the local content component and cost variations of the Total Upstream Nigeria Limited $16 Billion Egina Deep Sea Oil Project continues, the Senate has declared that there is an urgent need to amend the Nigeria Oil and Gas Industry Content Development (NOGICD) Act, 2010

BUSINESS

Extra income from oil to go to infrastructure – Buhari

Daily Dispatch January 26, 2018

Income accruing to the country from rising oil prices in the international market will be spent on infrastructural development, President Muhammadu Buhari has pledged. Receiving a delegation from Eni, led by the Chief Upstream Officer, Mr Antonio Vella, the President said extra funds outside the provision of year 2018 budget “will be deployed to infrastructure […]

BUSINESS

Nigeria good investment destination – VP Osinbajo

Daily Dispatch January 26, 2018

Vice President Yemi Osinbajo has asked Nigerians in the diaspora and other investors to make Nigeria their destination for investment. He made the call while speaking at a business dinner he hosted in Davos, Switzerland, for some participants at the just concluded World Economic Forum (WEF) Said he: “There is no question at all as […]

BUSINESS

Davos: Nigeria woos investors

Daily Dispatch January 25, 2018

Sen. Udoma Udo Udoma, Minister of Budget and National Planning, has encouraged foreign investors to take advantage of the country’s economic potential to invest in various sectors of the economy. Udoma said this in a statement issued by his Special Adviser on Media, Mr Akpandem James at the ongoing World Economic Forum (WEF) in Davos, […]

BUSINESS

$16 BILLION EGINA PROBE: UNQUALIFIED COMPANY GOT N50 BILLION CONTRACT

Daily Dispatch January 25, 2018

The Senate Ad Hoc Committee Investigating Local Content and Cost Variation on the $16 Billion Egina Deep Sea oil project has discovered that an unqualified company, NOV Oil and Gas Nigeria Limited got a whopping N50 billion contract from Total Upstream Nigeria Limited contrary to the Nigeria Oil and Gas Industry Content Development NOGICD) Act […]

BUSINESS

Weaker dollar may not hurt Nigeria country – VP Yemi Osinbajo

Daily Dispatch January 25, 2018

Nigeria’s vice president said on Thursday that a weaker U.S. dollar did not necessarily hurt his oil-producing nation. The comments by Yemi Osinbajo were made after U.S. Treasury Secretary Steven Mnuchin welcomed a weaker dollar, saying it benefited U.S. trade balances in the short term. OPEC member Nigeria is Africa’s largest oil producer. Crude oil […]