Global conventional oil discoveries fell to a record low in 2016 as companies continued to cut spending. Also, the number of conventional resources sanctioned for development last year reached their lowest level in more than 70 years, the International Energy Agency, IEA said. It warned that both trends could continue this year. According to the IEA, conventional oil discoveries declined …

Senate President Abubakar Saraki has inaugurated an 18-man Technical Committee on the amendment of the Company and Allied Matters Act (CAMA) and the Investment and Security Act (ISA) with a charge to improve the ease of doing business in the country. The Senate President also urged the Committee to work out modalities to halt the exodus of manufacturing companies from Nigeria to neighbouring …

The World Bank says it had disbursed over 82 per cent of funds for the pilot Commercial Agriculture Development Project (CADP) scheme in five states. The Bank’s Task Team Leader, Dr Shehu Salau made this known to journalists at the opening of the 14th CADP implementation support mission and wrap-up meeting which opened in Kaduna. The News Agency of Nigeria (NAN) reports that …

Again, suspected Fulani herdsmen have attacked two villages in Benue State, News Agency of Nigeria (NAN) has reported. According to a Police source, the latest attack was carried out on the villages in Logo Local Government Areas of the north central state during which eight people were reported killed by the suspected armed herdsmen. ASP Moses Yamu is the Spokesman …

The Nigerian Meteorological Agency (NiMet) has predicted cloudy morning over the Central States of the country on Tuesday with prospects of localised thunderstorms over Abuja, Lafia and Makurdi. NiMet gave the prediction in its Weather Outlook by the Central Forecast Office in Abuja on Monday. It also predicted chances of localised thunderstorms over Minna, Bida, Ilorin and Yola in the …

The Naira on Monday appreciated against the dollar at the parallel market, the News Agency of Nigeria (NAN) reports. The Nigerian currency gained three points to exchange at N388 to the dollar, stronger than N391 it traded on Friday, while the pound sterling and the Euro closed at N495 and N425. At the Bureau De Change (BDC) window, the Naira …

TAYO OLANIPEKUN The Lekki Free Trade Zone (LFTZ) has raked in $4bn in investments aside other projects such as Refinery and Fertilizer plants put in place by the business tycoon, Aliko Dangote, estimated at $11bn. This was revealed by Lagos State Commissioner for  Commerce, Industry and Cooperatives,  Prince Rotimi Ogunleye, while giving account of his stewardship at a press briefing …

The Minister of Power, Works and Housing, Mr Babatunde Fashola, has said that structures found to be non-compliant to electricity regulations would be demolished. “The erection of structures under or close to transmission lines is wrong and dangerous; such structures will have to give way,” Fashola said in Jos on Monday, at the 15th monthly meeting with the power sector …

23-year-old woman, Debbie Mike, who allegedly assaulted her ex-boyfriend with electrical iron, was on Monday brought before an Ebute Meta Chief Magistrates’ Court, Lagos. She assaulted her former boyfriend, Lanre Adewole, with the iron during a fight. The accused is facing a charge of assault to which she has pleaded not guilty. Earlier, Sgt. Kehinde Olatunde told the court that …

Karmo Grade 1 Area Court, Abuja, on Monday, sentenced a 20-year-old applicant, Sabiu Abdulkadir, to one-month imprisonment for stealing 15 pairs of slippers valued at N13,500. Abdulkadir of Idu village, Abuja, was arraigned on a count of theft, an offence he admitted committing. The judge, Abubakar Sadiq, however, gave the convict an option to pay N4, 000 fine and warned …