The Society of Petroleum Engineers(SPE) have appointed a Nigerian , Mr. Egbert Imomoh as its new honorary president to oversee its activities till 2013. As president, Imomoh, the chairman Afren plc will lead SPE’s international board of directors...
A subsidiary of Chevron, the third-largest oil producer in the country and one of its largest investors, spending more than $3 billion annually has commenced drilling operations in the Agbami field offshore Nigeria using the Pacific Bora drillship. &nb...
The United States government has expressed its willingness to support Nigeria in its quest to end gas flaring. This assurance was given by the US special envoy and Coordinator for International Energy Affairs, Ambassador Carlos Pascual, recently at the...
The Federal Government has been advised to improve in the management of its oil revenue so that the benefits of oil exploration and production could trickle down to the lowest class of people in the country. This counsel was given by the chairman, Parl...
The Nigerian Content Development and Monitoring Board, (NCDMB) said it has developed the Annual Nigerian Content Index, which would index the growth of service companies against their turnover of three preceding years to be carried as 25 per cent compo...
The transition Chairman of Oredo Local Government Council area of Edo state, Prince Ekpe Erediauwa, yesterday disclosed that to boost internally generated revenue (IGR) the council was to adopt an electronic card system in the collection and payment of...
The Action Congress of Nigeria (ACN) in Rivers State has threatened to sue Governor Chibuike Rotimi Amaechi if he fails to back down from his proposed plan to purchase a new aircraft for the state. The ACN also threatened to head for the court to chall...
The return of Governor Liyel Imoke of Cross River State to Government House in the April 2012 elections may not be easy as the opposition within the Peoples Democratic Party (PDP) is working under ground to scuttle his re-election ambition. But Imoke&r...
The United Nations Environmental Programme (UNEP) report has caused a rift in the ranks of the Movement for the Survival of Ogoni People (MOSOP) as a faction yesterday turned its back on the 30 –day ultimatum given to the federal government by th...
Former minster of petroleum during the military regime of Gen Ibrahim Babangida (rtd), Professor Tam David West has told those in authority to be disciplined and inculcate the virtue in members of the public or else the country’s quest for growth...
The gross proceeds from the direct sale of public enterprises between 1999 to date is N249, 497,188,000, the Bureau of Public Enterprises(BPE) has said. It explained that of the said sum, N103, 844,517,000 was used to settle staff salaries and terminal...
Union Bank of Nigeria (UBN) Plc has said that it would need about N300 billion to recapitalise the bank and take capital adequacy level to zero. Group Managing Director of the bank, Funke Osibodu, who disclosed this in an exclusive interview with LEADE...
As the drumbeat of an epic battle between dealers in sub-standard products and the Standard Organisation of Nigeria(SON) rises to a deafening pitch today, the director-general of the standards and products regulatory agency,Dr. Joseph Odumodu, said the...
Aso Savings and Loans Plc has recorded gross earnings of N10.012 billion for the financial year ended March 31, 2010. The result indicated a drop of N78 million or 0.77 per cent when compared with N10.090 billion recorded in the preceding year. The aud...
Some finance experts have said that the plan by the Central Bank of Nigeria (CBN) to kick-off its cashless society pilot scheme in Lagos State might not be easy as it could slow down business activities in the state. According to them, one of the major...