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28 February

NNPC says oil output up to 2.1 mln bpd

Oil production has risen to 2.1 million barrels a day, the managing director of state oil firm NNPC said on Tuesday, without giving an explanation for the increase. “We are hoping that by the end of 2017 we should ramp up production to above 2.2 million barrels (per day),” Maikanti Baru told an oil conference in Abuja. According to Reuters, …

28 February

Chairman, House Committee on Agriculture & Rural Development Birthday Celebration and Confirment as Otunba Fiwagboye of Owode of Yewa land, Ogun State…Pix

Pix…His Royal Highness, Oba (Revd) Dr. M. S Akindele, the Arebiigbade 1, Olu of Owodeland flanked by his wife Olori Akindele, Hon. Oladipupo Adebutu, (Otunba Fiwagboye of Owode Yewa land) Chairman, House Committee on Agriculture & Rural Development & his wife,Yeye Otunba Fiwagboye at the cutting of his birthday cake recently. Pix…Hon. Oladipupo Adebutu with wife after being conferred …

28 February

Fuel scarcity looms as IPMAN issues 2-week warning strike

Barring any last minute change, indication is high that fuel scarcity is imminent as Independent Petroleum Marketers Association of Nigeria (IPMAN) issued a two-week warning strike over alleged extortion by Depot owners and officials of Department of Petroleum Resources (DPR) at various depots across Lagos State. The oil marketers said it may also shut down all its over 2000 member filling …

28 February

Nigerian Government Should Tread Path of Sincerity- Overseer of First Love Assembly

Over the years, Pastor Simeon Afolabi, the serving Overseer of First Love Assembly, Lagos has carried out massive campaigns among pastors and heads of ministries across Nigeria with his Ministers’ Conference through his partnering organization, the Revival Promotion Partners. Afolabi who recently unveiled three books which are manuals for ministers of the gospel who must get it right, in this …

28 February

Zenith Bank seeks approval to raise N100bn

Zenith Bank Plc said on Tuesday it would seek shareholder approval next month to raise 100 billion naira ($318 million) via a combination of share or bond sale and global depository receipts. The lender also said it would seek approval to increase its share capital to 40 billion naira from 20 billion naira at the shareholders’ meeting on March 22. …

28 February

Women and child migrants raped, beaten and detained in Libyan ‘hellholes’ – UNICEF

UNICEF said women and unaccompanied child migrants rely on people smugglers to get to Europe, often under a “pay as you go system”, leaving them vulnerable to exploitation, trafficking and violence, including prostitution and rape. Smugglers typically demand thousands of dollars from migrants for a risky journey across the desert before cramming them onto ill-equipped boats for a perilous crossing …

28 February

South Africa’s Nedbank slashes Ecobank value by $293 m

South Africa’s Nedbank booked a $293 million writedown on the value of its west African associate Ecobank on Tuesday, and reported its slowest growth in annual profit since 2009. Ecobank’s operations in central and west Africa have been exposed to economies pressured by the sharp slide in commodity prices and unfavourable currency swings. The writedown reduces Ecobank’s carrying value to …

28 February

Nigeria’s GDP growth rate contracted by -1.3% in fourth quarter of 2016

The National Bureau of Statistics on Tuesday released the Gross Domestic Product growth rate for the country with the economy recording a contraction of -1.3 per cent in growth rate in the fourth quarter of 2016. The NBS in the report explained that in real terms, the economy recorded a decline of N240.8bn from N18.53trn in the fourth of 2015 …

28 February

Dangote seeks unhindered movement for trucks with perishable items, special seaport for export

The Vice President of Dangote Group, Alhaji Sani Dangote on Monday in Lagos implored relevant Government agencies within and outside the Seaports to facilitate unhindered movement for all trucks conveying perishable items. Speaking at the Nigeria Agricultural Export Zero Reject Forum in Lagos, Dangote emphasis need for Nigeria as a country to tackle and overcome logistics challenges at Seaports and Airports. To …

27 February

Lagos @50 Anniversary : Group unviels largest T-shirt for celebration

As activities lined up for the celebration of Lagos State 50thanniversary gather momentum, a group named Team Nigeria has presented a seven-feet anniversary T-Shirt tagged ‘Eko Shirt’ to the Lagos State Government. Speaking at the unveiling of the Tee-shirt, the Commissioner for the Ministry of Local Government and Community Affairs, Hon. Muslim Folami, commended the initiative and described it as …