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CBN’s rate for Naira sends false economic signals
Sopuruchi Onwuka, with agency reports Between the N460 official rate for the dollar and the over N850 in the informal foreign exchange market, market pundits that generate data to simulate the direction of the economy are having hectic time. Whereas…
APPO retains Nigeria’s Omar Farouk Ibrahim as Secretary General
Sopuruchi Onwuka The Council of Ministers of the African Petroleum Producers Organization (APPO) has extended the tenure of Nigeria’s Omar Farouk Ibrahim as the Secretary General of the body which coordinated energy policies and programmes for socio-economic development of the…
Naira redesign: Politicians dump Naira at forex market
Sopuruchi Onwuka Huge volumes of apparently stashed away for election purposes are finding their way to the parallel foreign exchange market on fears of being tracked if they make their ways to the banks. The rush to mop up foreign…
Goodbye Dubai: UAE bans visa for Nigerians, Emirates suspends flight
Sopuruchi Onwuka Signature airline for the United Arab Emirates (UAE), Emirates, has declared termination of further flights into Nigeria after it also stated that it could not get its ticket money out of the country following dollar crunch. The notice…
Oando donates relief materials to Niger Delta flood victims
On Monday, the NAOC Joint Venture (JV) made up of Oando PLC, Agip and the Nigerian Petroleum Development Company Ltd (NPDC), delivered food and essential commodities to 260 communities affected by flood in Rivers Bayelsa, Delta and Imo states. As…
NNPC scrambles management team for recovered Addax assets
Sopuruchi Onwuka Nigerian National Petroleum Company Limited (NNPCL) is working to minimize activity downtime at the oil block just recovered from Addax Petroleum after an exit settlement. The company which is visibly shopping more assets to beef up operated production…
Emeka Okwuosa: Outstanding recognition for emissary of power
Sopuruchi Onwuka Chairman of Oilserv Group, Sir Emeka Okwuosa, is an unusual Nigerian who stands out among the very few Africans who are distinguished by their exceptional capacity for value creation and contributions towards the growth of standards in their…
Flood disaster: Agip JV moves in with relief for Rivers, Bayelsa, Imo and Delta states
The petroleum exploration and production joint venture operated by the Nigeria Agip Oil Company (NAOC) on behalf of Nigerian National Petroleum Company Limited (NNPCL) and Oando has responded the needs of flood victims in the Niger Delta with provision of…
NCDMB lauds Crestech on capacity building, job creation
The Nigerian Content Development and Monitoring Board (NCDMB) has commended Crestech Engineering Limited on its full support towards the capacity building and job creation objectives of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act. Director, Monitoring and Evaluation…
Oil windfall: S. Arabia bathes in dollar rain
In African and American members of the Organization of Petroleum Exporting Countries (OPEC), fiscal crisis sustains the traditional narrative of resource curse where poverty grows in the midst of oil revenue windfall. But in the Middle East where Saudi Arabia…
