The managing director of NNPC, Austin Oniwon, said on Tuesday that the Petroleum Industry Bill, which will redefine Nigeria's relationship with foreign oil firms, would be put under scrutiny by both houses of parliament in the coming days. "The Senate will begin today, the clause-by-clause debate of the bill, and in the next days, the House of Representatives will also…
Anyone applying to visit the United States on a non-immigrant visa from March 1, 2011, will have to pay their visa fees at Guaranty Trust Bank, and no longer the United Bank for Africa (UBA). The U.S. Embassy in Nigeria announced that applicants who have already scheduled appointments for March or April with the embassy in Abuja or the U.S.…
As much as a quarter of Libyan oil output has been shut down, Reuters calculations showed on Wednesday, as unrest prompted oil companies to warn of production cuts in Africa's third-largest producer. Austria's OMV said on Wednesday it might be heading for a full production shutdown in Libya. Total, Repsol, Eni, and BASF have also said they are either slowing…
Junior oil and gas explorer, Exile Resources Inc., said it received a formal exploration licence for its project in northeastern Zambia. Exile Resources, which has an investment licence for Block 26, is currently reviewing data and undertaking geochemical surveys to study the potential for oil and gas in Zambia. The Toronto-based company, which is focused on the acquisition and development…
Kenyan agricultural producer, Sasini, faces an uncertain future because of drought and rising oil prices, but plans to diversify its revenue streams to buffer its main business, its head said on Wednesday. Meteorologists have warned the East African nation is likely to have a drought, causing jitters in the agricultural sector. "We have a drought, we do not know how…
"They are afraid of counting kobo!" a senior public service worker exclaimed derisively at break time during a change management workshop for his agency. Someone had asked why politicians who had served terms as governors automatically sought election to the Senate. "They are not used to thinking about paying rent or buying diesel anymore!" someone said. The listeners shared a…
Many are saying that President Goodluck Jonathan has not really achieved anything in his short tenure. What do you think of this? Things have tremendously improved since Jonathan became president eight months ago. Our country had gone so far down within the last 50 years. Quite frankly, it will be unkind for anybody to judge the president just within eight…
The governor of Ogun State, Gbenga Daniel yesterday described his predecessor, Olusegun Osoba as a coward for fleeing the state after losing the 2003 governorship election to him. Mr Daniel was reacting to a verbal attack from Mr Osoba last Tuesday during the flagging-off of the Action Congress of Nigeria (ACN) governorship campaign at Ake Palace, in Abeokuta. Mr Osoba…
The people of the Amazonian region of Ecuador could not have wished for a better Valentine Day's gift as a court there slammed an $8 billion fine on Chevron for heavily polluting the area through serial oil spills. Texaco spewed the spills into the fragile ecosystem between 1964 and 1990. You may be wondering why Chevron should be caught in…
Shell Petroleum Development Company (SPDC) has declined to speak on the progress of the bidding process of its oil blocks that have been offered for sale. Although names of interested companies have already been mentioned in newspapers, local and foreign, the bidding process for the sale of its oil blocks have started, and the planned sale of some oil blocks…
The management of the Nigerian Stock Exchange (NSE), yesterday, reiterated that its current trading platform is functional, against insinuations that it is outdated following the Exchange's move to replace it. Emmanuel Ikazoboh, interim administrator of the NSE, had announced last month that the Exchange's council approved the acquisition of a new trading platform. "An ad-hoc committee of management and council…
The Public and Private Development Centre (PPDC) Assessment Report on the implementation of the Nigerian Procurement Law, has revealed that the Ministries of Petroleum Resources, Agriculture and Water Resources, Education and Health violate the procurement regulations more in Nigeria than other MDAs. The report which was launched on Monday in Abuja also warned that the continued failures in these ministries…
Notable leaders from Akure, capital of Ondo State, yesterday met to chart ways of bringing meaningful development to the ancient city. At a summit organised by the Akure Divisional Consultative Forum, leaders of the town stressed the need for unity in the effort to transform the city. The convener of the meeting, Olu Aboluwoye noted that despite the fact that…
The police have arraigned a 19-year-old girl, Jennifer Alumona, and three other male suspects before an Abuja High Court on a five-count charge of conspiracy, assault and armed robbery. Charged with Alumona, on Tuesday, for being in possession of a locally-made double barrel pistol with two live cartridges, conspiracy and robbery are Idris Olayemi, 25; Abdullahi Ibrahim, 25 and Yusuf…
South Africa’s economic growth came in higher than expected in the fourth quarter, boosted by stronger growth in the mining and agricultural sectors, according to data released on Tuesday. Statistics South Africa said the economy grew by 4.4 per cent in the fourth quarter on a seasonally adjusted and annualised basis, compared with an upwardly revised 2.7 per cent expansion…