Industries

Niger-Delta oil no longer suitable for our business, says Shell CEO Van Beurden

Niger-Delta oil no longer suitable for our business, says Shell CEO Van Beurden

Multinational oil giant Shell has revealed its intention to withdraw from Nigeria’s onshore oil sector. Making this known at Shell’s annual general meeting on Tuesday, the CEO, Van Beurden, said his organisation was in talks with the Nigerian government to work out how to exit its onshore licenses. Mr Beurden explained that Niger Delta oil is no longer suitable for its business, adding that the incessant cases of oil theft and sabotage and spillage don’t fit with the organisation’s risk appetite. “The balance of risks and rewards associated with our onshore portfolio is no longer compatible with our strategic ambitions,”…
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Nigerian government announces new date for NIN-SIM linkage deadline 

Nigerian government announces new date for NIN-SIM linkage deadline 

The Federal Government has approved the extension of the deadline National Identification Number, NIN, and Subscriber Identity Module, SIM, integration exercise untill June 30. Recall that on December 15, 2020, the Federal Government declared that after December 30, 2020, all SIMs that were not registered with valid NINs on the network of telecommunications companies would be blocked. The December 30, 2020 deadline was later extended, following widespread opposition against the earlier announcement and gave three weeks’ extension for subscribers with NIN from Dec. 30, 2020 to Jan. 19, 2021. The Federal Government later gave six weeks’ extension for subscribers without…
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Dangote Cement granted  second tax waiver in two years : FG

Dangote Cement granted  second tax waiver in two years : FG

The Federal Inland Revenue Service issued Dangote Cement Plc tax credit certificates, the second in two years. The tax credit certificates valued at N22.321 billion are for the construction of Apapa-Oworonshoki-Ojota road in Lagos and the Lokoja-Obajana-Kabba road connecting Kogi and Kwara States, The Nation reported. This implies that Dangote Cement will provide the funding for the federal roads to cover for the tax that it would have paid. The tax credit certificate for the Apapa-Oworoshoki-Ojota expressway is valued at N21.6 billion, while that of Lokoja-Obajana-Kabba is valued at N721 million. In 2019, FIRS issued a tax credit certificate valued…
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Dr.Chidia wants foreign ministry partnership as global agencies seek investment in Nigerian Film Industry

Dr.Chidia wants foreign ministry partnership as global agencies seek investment in Nigerian Film Industry

Dr.Chidia wants foreign ministry partnership as global agencies seek investment in Nigerian Film Industry Kenneth Udeh, Abuja Managing Director of the Nigerian Film corporation (NFC), Dr. Chidia Maduekwe, Thursday advocated synergy between the NFC and the Nigerian Ministry of foreign affairs to stimulate growth and development in the nation's film industry. Dr. Chida made this disclosure following the expression of interest of foreign agencies to partner with the NFC to invest in the Nigerian film industry, according to Chidia, Nigerians current status as the 2nd largest film producer in the world has become attractive to foreign countries as an investment…
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BREAKING NEWS: Kano elders reconcile Alhaji Aliko Dangote and Alhaji Abdul-Samad Rabiu

BREAKING NEWS: Kano elders reconcile Alhaji Aliko Dangote and Alhaji Abdul-Samad Rabiu

Kano elders reconcile Alhaji Aliko Dangote and Alhaji Abdul-Samad Rabiu The clash between two of Nigeria’s richest men, Aliko Dangote and Abdul Samad Rabiu, seems to be temporary over following the intervention of Kano state elders. The businessmen has had a dispute over who controls the sugar market in Africa’s biggest economy. While Mr Dangote accuses his competitor of attempting to appropriate undue advantage, Mr Rabiu says Mr Dangote, Africa’s richest man, wants to monopolise the market and manipulate prices. Mr Dangote denied the price-fixing allegation. In January, Dangote Sugar Plc, supported by Flour Mills of Nigeria Plc, accused rival…
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WAHALA!!! Get Ready To Pay  Around N240 Per Litre For Petrol, Says NNPC GMD

WAHALA!!! Get Ready To Pay Around N240 Per Litre For Petrol, Says NNPC GMD

The Petroleum Products Pricing Regulatory Agency (PPPRA) had earlier released a template increasing petrol price to N212 per litre but it was later deleted. The General Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari says Nigerians may likely pay more for petrol in April. The Petroleum Products Pricing Regulatory Agency (PPPRA) had earlier released a template increasing petrol price to N212 per litre but it was later deleted. Speaking with journalists at the Presidential Villa, Abuja, Kyari said the NNPC can no longer bear the burden. He also said the NNPC pays between N100 billion and…
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Youths Protest Against Dangote Cement, Gives 48 Hours Ultimatum For Price Reduction 

Youths Protest Against Dangote Cement, Gives 48 Hours Ultimatum For Price Reduction 

Youths Protest Against Dangote Cement, Gives 48 Hours Ultimatum For Price Reduction  The Nigerian Students and Youths Association (NISYA) has asked the Nigerian government to end all forms of monopoly in cement production and distribution in the country. Specifically, the group in a protest in Benin City, Edo state, accused Dangote Cement Company, owned by African richest man, Aliko Dangote of increasing the price of its product by 100 per cent. It gave the cement company and others 48 hours' ultimatum to revert to the old price, adding that failure to heed the call would amount to blocking the highway…
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BREAKING!!! Despite Economic Downturn, Federal Government Increases Fuel Price To N212 Per Litre

BREAKING!!! Despite Economic Downturn, Federal Government Increases Fuel Price To N212 Per Litre

Federal Government Increases Fuel Price To N212 Per Litre  President Muhammadu Buhari’s led administration on Thursday initiated an upward review of petrol price to N212 per litre, raising fresh economic concerns for the country’s impoverished households, TheWhisperer has learnt. The fuel pricing regulator PPPRA said in its template released on Thursday night that a litre of fuel would now be sold for prices ranging from N209 to N212 per litre for March. This was against N186 the crucial commodity retailed for in February. The PPPRA said the landing cost of petrol in March would be N189.61 per litre as against…
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Ports Congestion: National Inland Waterways Authority Hires Firm To Move Cargo From Lagos To Onitsha

Ports Congestion: National Inland Waterways Authority Hires Firm To Move Cargo From Lagos To Onitsha

The National Inland Waterways Authority (NIWA) is to engage the services of Akewa Colmar Terminal Limited (ACTL) to move containers from Lagos Ports to Onitsha River Port via Burutu Port in Delta State, in an effort to make Onitsha River Port functional, and to decongest the Lagos ports. NIWA’s General Manager, Corporate Affairs, Jibril Darda’u, who disclosed this in a statement issued on Thursday said the idea of hauling containers via Burutu Ports to Onitsha River port was to avoid the two small bridges of Gbarekolo and Bumandi. “The two bridges are too tiny and shallow for sea-moving badges or…
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PIB: Oil Producing Communities in Abia have been Calm, Deserve Adequate Attention – Ikpeazu

PIB: Oil Producing Communities in Abia have been Calm, Deserve Adequate Attention – Ikpeazu

Governor Okezie Ikpeazu has expressed concern that despite the long years of oil exploration in the state, there has been no tangible impact of it in the lives of oil producing communities in the state. Governor Ikpeazu who stated this when he received in audience a delegation of the Senate and House of Representatives Joint Committee on Petroleum Industry Bill led by Senator Albert Bassey at Government House, Umuahia, said that Abia should benefit more from the Petroleum Industry Bill when passed into Law. He said that Abia oil producing communities have remained peaceful more than any other oil producing…
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