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Failed concessions: Nigeria to pay $496m claims Mittal Group
(Agency report) Nigeria has agreed to pay $496 million to settle a multi-billion dollar claim from Global Steel Holdings Ltd following the termination of a contract to upgrade the country’s steel plants, the presidency said on Saturday. Global Steel, which…
Bed Bath & Beyond CFO takes a fatal plunge from skyscraper
Bed Bath & Beyond Inc’s chief financial officer, Gustavo Arnal, fell to his death from New York’s Tribeca skyscraper known as the “Jenga” tower on Friday afternoon, police said on Sunday, days after the struggling retailer announced it was closing…
Germany confirms $28m settlement with Munich attack families
The German government confirmed Friday that families of 11 Israeli athletes killed by Palestinian militants at the 1972 Munich Olympics will receive a total of 28 million euros (dollars) in compensation. The figure — which includes payments already made —…
Civil war looms as bandits claim territories in Abia, Anambra, Imo
Sopuruchi Onwuka As the fireworks for the 2023 elections begin to spark flares across the country, the stakes are particularly high in Abia State where the local government area with the largest landmass is under strong contest by an army…
NASA to attempt Artemis 1 rocket launch today
The stars appear to be aligned for NASA’s Moon rocket to finally blast off today, with weather forecasts favorable and technical issues that postponed the launch earlier this week resolved. The chance for favorable weather conditions within that window sat…
NNPC, NUPRC take different routes to oil loss mitigation
Sopuruchi Onwuka The controversy surrounding industrial scale stealing of crude oil from the operations of players in the upstream petroleum industry in Nigeria is receiving separate responses from the industry regulator and national oil company that manage government’s commercial interest…
Deregulation: Ogbeche calculates potential N12 trn gain for govt
Sopuruchi Onwuka The Group Managing Director of Rainoil Limited, Dr Gabriel Ogbechie, says full commercial deregulation of the nation’s domestic fuel market could save over N12 trillion. Dr Ogbeche who made a presentation on the benefits of deregulation at the…
MOMAN sees difficulty in inevitable deregulation
Sopuruchi Onwuka The Major Oil Marketers Association of Nigeria (MOMAN) says ending subsidy on Premium Motor Spirit (PMS) is extremely difficult but the Federal Government has no other option in light of current economic realities. MOMAN also called for massive…
Subsidy removal must come with fiscal responsibility, financial prudence _Organized laour
Sopuruchi Onwuka Senior workers union in the country insist that government has not demonstrated any need for austerity measures in the economy, warning that sacrificing the life of impoverished Nigerian masses through planned removal of subsidy on petrol prices would…
NEITI calls for greater resource accountability
Sopuruchi Onwuka Resource watchdog, the Nigeria Extractive Industries Transparency Initiative (NEITI), has stressed the need for greater transparency and accountability in the management of the nation’s mineral resources. The Executive Secretary, Dr Orji Ogbonnaya Orji, declared at the 2022 Strategic…
