BUSINESS

Samsung Chief Faces Probe For Bribery

Daily Dispatch February 13, 2017

Samsung chief Jay Y. Lee appeared at the South Korean special prosecutor’s office for questioning on Monday as part of a wider investigation into an influence-peddling scandal that could topple President Park Geun-hye. The special prosecutor has focused on South Korea’s biggest conglomerate,

BUSINESS

Dangote Targets 25,000 Hectares Of Rice In Sokoto

Daily Dispatch February 13, 2017

Dangote Rice, a subsidiary of Dangote Group, is set to launch in Sokoto State it’s multi-million naira 25,000 hectares of rice outgrower scheme with a prospect of hundreds of employment opportunities for the rural communities. By year-end 2017, Dangote Rice plans to produce 225,000MT of parboiled, milled white rice. This will allow us to satisfy […]

BUSINESS

Nigeria Loses $80b Annually To Oil Installation Vandalism-Kachikwu

Daily Dispatch February 10, 2017

Minister of State for Petroleum, Mr. Ibe Kachikwu, says Nigeria is losing at least $80bn annually to vandalism of oil facilities in the Niger Delta. Kachikwu made this known on Friday in Yenagoa at the resumed dialogue with Niger Delta stakeholders as part of the visit of Acting President, Prof. Yemi Osinbajo, to Bayelsa. He […]

BUSINESS

For Power Privatisation To Work, Allow NERC To Fix Tariffs- Ag. DG, BPE Urges Govt.

Daily Dispatch February 10, 2017

Acting Director-General of the Bureau of Public Enterprises (BPE), Dr. Vincent Onome Akpotaire has suggested that for the power privatization in Nigeria to work, the industry’s regulator- Nigerian Electricity Regulatory Commission (NERC) must be allowed to perform its mandate without interference. Speaking at a 2-day stakeholders interactive dialogue/workshop organized by

BUSINESS

OPEC Figures Show Over 90 percent Compliance With Supply Cut -Sources

Daily Dispatch February 10, 2017

OPEC has delivered more than 90 percent of pledged oil output curbs in January, according to figures the exporter group uses to monitor its supply, making a strong start to implementation of its first production cut in eight years. The Organization of the Petroleum Exporting Countries is cutting its crude output by about 1.2 million […]

BUSINESS

Oil Rises On Signs Of Record Compliance With OPEC Output Deal

Daily Dispatch February 10, 2017

Oil prices rose more than 1 percent on Friday after news that OPEC members’ initial compliance with last year’s landmark production cut deal reached a record high. The 11 OPEC members with production targets under the deal complied with a record 92 percent of the targeted volume in January, according to the average assessments of […]