The federal government has increased petrol import allocations for the second quarter from the previous quarter as it seeks to avoid another fuel shortage. The government has battled fuel shortages for more than a month, and industry sources blamed the withdrawal of independent fuel marketers from the first-quarter import allocation program of the Petroleum Products Pricing Regulatory Agency. Government has therefore issued import permits for 3.5 million mt of petrol under the second-quarter import program, from 3 million mt in the first quarter, PPPRA spokesman Lanre Oladele told Platts. The allocation was issued to state oil firm Nigerian National Petroleum…
Author: Pride Team
Nigeria is said to be losing about $450m (N89.55bn) annually to computer and Internet-related frauds, the consultant to the National Information Technology Development Agency had said. Mr. Abdul-Hakeem Ajijola,who made the disclosure at the public sector cybersecurity hands capacity building workshop for IT officers in Federal Government Ministries, Departments and Agencies organised by NITDA in Abuja said the country’s annual losses were equivalent to the value of its booming cement industry. “As technology becomes increasingly pervasive and our dependency on it grows, our economic losses will grow exponentially unless pre-emptive measures are taken to mitigate and eliminate the capacity of…
Forte Oil company is planning to raise about 100 billion naira ($503 million) to expand its operations in the country, and will seek shareholder approval at its annual general meeting this April . The company may raise the funds through a rights issue, bond or share offering, or global depository receipts, according to a statement issued by the company. “The capital raising is part of our preparations to take advantage of opportunities in the economy,” said Akinleye Olagbende, Forte Oil’s chief compliance officer. Olagbende said the company could explore opportunities in the upstream sector of the oil industry and tap…
Nigeria is going to sustain its gas supply to Ghana to sustain its power supply until it is self-sufficient following ongoing gas production projects in the country. Ghana’s Minister for Petroleum, Emmanuel Armah-Kofi Buah confirmed that his country will continue to depend on Nigeria to shore up the demand deficit in its gas needs even if the ENI, TEN projects are completed. Ghana has an agreement with Nigeria for a daily gas supply of 120mmscf though the West African Gas Pipeline. According to him, the two projects even though when completed will add some 60mmscl of gas to the existing120mmscf…
Renowned economist and public commentator, Professor Pat Utomi has described Lagos State Governor, Mr. Akinwunmi Ambode as a man with a lot of substance who is administering the state methodically and is very sensitive to important things. Utomi, who spoke in an interview with newsmen shortly before delivering a keynote address at the unveiling of the Office of Overseas Affairs and Investment otherwise known as Lagos Global, said from his assessment of the Governor so far, “the man is governing the state with the mindset of an accountant, and that informed why he was being methodic and concentrating on getting…
Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to “exercise his authority as the Minister of Petroleum Resources by urgently prioritising the sector and coordinating government responses to the fuel scarcity across the country, which is clearly exacerbating extreme/absolute poverty, stripping millions of Nigerians any real opportunity to exercise their human rights and take on responsibilities.” In a statement today by SERAP executive director Adetokunbo Mumuni the organisation said, “The longer this fuel scarcity continues the greater the difficulties Nigerians will face. President Buhari now has to take control of the Ministry of Petroleum to end continuing…
The All Progressives Congress (APC) in Ekiti State has criticised Governor Ayodele Fayose over failure to pay workers salary arrears. It said the governor’s preference for building airport, new market and fly-over bridge contradicted his campaign slogan to “tar stomachs” before embarking on physical infrastructure. It added that it is sheer opportunism and lack of integrity to deceive the people during campaigns with mouth-watering promises only to turn around to deny them after getting to power to pursue selfish agenda. Publicity Secretary, Taiwo Olatunbosun, said in a statement on Sunday that the governor had been playing games with the intelligence…
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“I have walked that long road to freedom. I have tried not to falter; I have made missteps along the way. But I have discovered the secret that after climbing a great hill, one only finds that there are many more hills to climb. I have taken a moment here to rest, to steal a view of the glorious vista that surrounds me, to look back on the distance I have come. But I can only rest for a moment, for with freedom come responsibilities, and I dare not linger, for my long walk is not ended.” ― Nelson Mandelaxosotin…
As African women, our concept of nude, colour-wise, comes in shades ranging from brown to deep chocolate tones, hence before now, we had to make do with the westernized version – the porcelain tone, which looked awkward against our skin. Well not anymore! Fashion brand, Louboutin has paved the way for other designers to tow by releasing an additional two tones – for the African woman, making it seven different shades of nude. This collection caters to varieties of skin tones so no woman is left out! A video posted by Christian Louboutin (@louboutinworld) on Mar 30, 2016 at 10:02am…