BUSINESS

No pipeline vandalism in 3 months-Kachikwu

Daily Dispatch May 4, 2017

The Federal government, Wednesday, said it has witnessed no pipeline vandalism arising from militant activities in the Niger Delta in the past three months. The Minister of State for Petroleum Resources, Ibe Kachikwu, made this known at the ongoing Oil Technology Conference 2017 holding in

BUSINESS

Customs Revenue Fallshort by N216bn in 2016-Ali

Daily Dispatch May 4, 2017

The Comptroller-General of the Nigeria Customs Service, NCS, Hameed Ali, on Wednesday said the agency’s revenue for 2016 fell short of its target by N 216.5 billion. Mr. Ali made this disclosure while briefing journalists after appearing before the House of Representatives’ Committee on Customs to defend the Customs 2017 budget estimates. According to the […]

BUSINESS

Rice Production: Kogi Woos World Bank

Daily Dispatch May 2, 2017

The Kogi Government has appealed to the World Bank, through its FADAMA III AF intervention project, to facilitate the state’s plans to become the largest producer of rice in North Central Nigeria. Mr Kehinde Oloruntobe, the state Commissioner for Agriculture, made the appeal on Tuesday when he received the Mid-Term Review Mission Team of the […]

BUSINESS

Breaking: CBN wields big stick, bars 17 banks from FOREX market

Daily Dispatch May 2, 2017

Following persistent complaints that some Deposit Money Banks have deliberately frustrated efforts by many Small and Medium Enterprises to access forex from the new window created by the Central Bank of Nigeria, the apex Bank on Tuesday barred all but eight banks from dealing in the SME wholesale Forex window. Sources at the CBN disclosed […]

BUSINESS

Nigerians too religious, we believe oil won’t dry up – NEITI consultant, Dada Garubau

Daily Dispatch May 2, 2017

Dr. Dauda Garuba, a consultant ​to​ Nigeria Extractive Industries Transparency Initiative, NEITI, has warned Nigerians to stop ​being over-religious, ​believing that crude oil​, ​the nation’s major source of income, will last forever. ​DAILY POST reports that Garuba ​gave this warning in Lagos on Tuesday at the ongoing workshop​ on reporting of the Extractive Industry.​​

BUSINESS

FG releases $400m to settle JV cash call debts owed IOCs

Daily Dispatch May 2, 2017

The Federal Government said it had released $400m to settle outstanding Joint Venture cash call debts owed International Oil Companies. Minister of State for Petroleum Resources, Dr Ibe Kachikwu, made this known in Houston, U.S. on Tuesday while speaking to reporters on the sidelines of ongoing 2017 Offshore Technology Conference. Kachikwu said that the money […]