The Independent Petroleum Marketers Association of Nigeria (IPMAN) Interim Committee on Reconciliation and Distribution is set to deal with in-house sabotage that has further escalated fuel scarcity in the country. In a statement signed by its Secretary, Engineer Lawson Ngoa, the IPMAN committee vowed to checkmate the unwholesome practices carried out by these persons and others who are into hoarding and diversion of the products, thereby, exacerbating the scarcity in Nigeria. The committee said it is scheduled to visit all NNPC depots and other private depots in the country as part of its monitoring activities to address some of the…
Author: Pride Team
Nigerian equities reeled under sustained losses as the bourse recorded 22 losers against 15 gainers. Also, investment appetite was weakened given declines in investment activity and level. By the close of business, NSE ASI and market capitalisation fell by 34bps each. Shares of fizzy drinks maker, 7UP Bottling Company, appreciated by N2.41 to N145 a share while brewery giant, Nigerian Breweries, upped by N0.39 to N106.09 a share. On the flip side, shares of major petroleum products marketer, Forte Oil, tumbled by N25.12 to close at N250 a share while Guinness Nigeria shares tanked by N1 to close at N97…
The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim has disclosed that the total deposit liabilities of all the deposit money banks (DMBs) in the country amounted to N17.3 trillion as at December 2015. He also stated that of the total amount, which had 67 million depositors tied to it, the corporation had provided over 90 percent of insurance coverage. Speaking in Jos, during a lecture titled: “NDIC and Engendering Confidence in the Financial Services Sector for Poverty Reduction and Economic empowerment” which was organised for participants of Executive Course No 38, 2016 at National Institute for…
Minister of State for Petroleum, Ibe Kachikwu, has commissioned an underground pipeline from Esacravos to Warri and Port Harcourt refineries. The facility would fast track crude oil delivery directly to the refineries rather than the use of marine vessels, which has been in use for years. The Minister, who disclosed that fuel queues would soon be a thing of the past, said the pipeline would ensure constant supply of crude to the refineries that, according to him, will be the first time the three refineries in the country would be operational at the same time. “We must thank President Muhammadu Buhari for giving us…
Ekiti State Governor, Mr. Ayodele Fayose has described the death of six medical doctors and one driver in the State, in an accident involving a 13-passenger bus as the lowest point in the history of the State and a monumental loss not only to the people of Ekiti State but to Nigerians, declaring a three days of mourning for Monday, Tuesday and Wednesday. The governor, who directed that all flags should be flown at half-mast, described the death as an eclipse of professional and intellectual figures, who lost their lives in active service to mankind, saying; “Ekiti has lost some…
The Lagos State Government on Tuesday said a total of 1, 340 beggars, destitute and mentally challenged persons were rescued off the streets of Lagos in the last one year, just as it said about 73, 664 patients were screened and helped to trace their homes through various media platforms. Speaking at the ongoing 2016 Ministerial Press Briefing held at the Bagauda Kaltho Press Centre in Alausa to commemorate Governor Akinwunmi Ambode’s one year in office, Commissioner for Youth and Social Development, Pharm. Mrs. Uzamat Akinbile-Yussuf said the Government, in the period under review, released and re-united 590 rehabilitees with…
The Independent Corrupt Practices Commission (ICPC) has lauded the Abia State Governor, Dr. Okezie Ikpeazu, for judiciously managing the N14 billion bailout Fund which the Federal Government released to the state last year. The ICPC said Governor Ikpeazu’s sincerity of purpose in managing the fund goes to confirm the credibility and transparency of governance in Abia State today. The ICPC last week published the names of 23 states and their disbursement pattern of the bailout fund and singled Abia State and two other states as good models in the disbursement and management of the fund. Chief Press Secretary to the Governor, Mr.…
Governor Adams Oshiomhole of Edo State says the state Government got only N1.6 billion from the Federation Account this month and has a shortfall of N1.4 billion to meet salaries and overheads, but that it won’t stop the Government from meeting its wage obligation before the end of the month. Oshiomhole who restated his commitment to the prompt payment of workers’ salaries during a visit of the newly elected leadership of the Trade Union Congress (TUC) said, “The labour movement remains to me my primary, original constituency. Politics is my secondary constituency, and I am never ashamed to say it…
All Progressives Congress (APC) has raised the alarm over alleged new politically motivated killings in Rivers state. Led by the Deputy National Chairman (South) of the All Progressives Congress (APC), Engr. Segun Oni, party leaders addressed a press conference at the APC National Secretariat in Abuja on the continued spate of politically-motivated killings, intimidation and persecution of APC members in Rivers State under the watch of the Rivers State Governor, Nyesom Wike and the Peoples Democratic Party (PDP). Party leaders also decried the level of impunity in the Rivers State House of Assembly. Despite a December 23, 2015, Court of…
British Council brings the Open House experience to Lagos this weekend; 29th April- 1st May. The Open House concept was founded in 1992 in London by Victoria Thornton with the aim of fostering a better understanding of architecture and the built environment outside the profession. A highly anticipated event in the city’s architectural calendar, Open House Lagos is a unique celebration of the buildings, places and spaces where we live, work and play. It provides an opportunity to see, explore and learn about Lagos’ amazing architecture and design over one weekend. According to Ojoma Ochai, Director Arts, British Council Nigeria, “Open…