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NNPC Signs Pact with Partners to Resolve OML 130 Dispute

…Resolution Will Immediately Unlock about $510million of Gas Revenue In its bid to meet the target of revving up production to 3million barrels per day and unlock gas revenues to the tune of about $225 million in the short term and $510million in the long run for the Federation, the Nigerian National Petroleum Corporation (NNPC)…

Imo moves to recover disputed oil wells from Rivers

The efforts of the government of Senator Hope Uzodinma to boost the economy of Imo State has received a huge boost following the move by the government to recover some oil wells wrongly ceded to Rivers State. Imo and her neighboring Rivers have been in a protracted battle over oil wells belonging to the state…

COVID Fears Cause Oil To Fall Back After A Brief Rally

Oil prices rallied to multi-month highs mid-week on stronger EIA data. But the market narrative remains the same – tightening fundamentals set against a weak macro backdrop has kept oil prices stuck in a narrow trading range. On Friday, prices fell back, erasing some gains. BP divestment to help transform the company. BP (NYSE: BP)…

NUPENG Leadership Orders Tanker Drivers To Withdraw From Lagos

The national leadership of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has ordered petroleum tanker drivers to withdraw their services from Lagos from Monday, August 10.  According to a communique by NUPENG on Friday, the directive comes on the heels of a failure to address three major issues causing tanker drivers pains…

Facebook’s Zuckerberg becomes world’s third centibillionaire

Facebook’s CEO has joined Amazon’s CEO, Jeff Bezos, and Microsoft’s founder Bill Gates, as the only people with centibillionaire status. According to the Bloomberg Billionaires Index Bloomberg Billionaires Index, Mark Zuckerberg’s fortune has topped $100bn for the first time, placing him among members of the world’s centibillionaires’ club. This comes after Facebook’s shares surged by…

Ikeja Electric and the exploitation of citizens

By Bayo Akinlade Nigerians are generally a long-suffering people, as the late Fela sang the song “Suffering and Smiling” we; as a people continue to suffer from self inflicted problems and laugh it off. As though the Covid pandemic was not enough to distabilize and traumatize us, Ikeja Electric is un-relentless with bringing crazy bills…

Exit: Shoprite employs 4,500 staff, supports 500 farmers in Nigeria

The Nigeria Investment Promotion Commission (NIPC) has said that Retails Supermarkets Nigeria Limited, which trades in Nigeria as Shoprite, employs about 4,500 staff and supports 500 farmers in Nigeria. The Executive Secretary of the NIPC, Ms Yewande Sadiku, revealed in a statement on Friday in Abuja that Shoprite is one of the country’s strategic investors,…

US Senate Votes To Ban TikTok On Government Phones

The US Senate voted Thursday to bar TikTok from being downloaded onto US government employees’ telephones, intensifying US scrutiny of the popular Chinese-owned video app. The bill passed by the Republican controlled Senate now goes to the House of Representatives, led by Democrats. “TikTok is a major security risk and has no place on government…

FG lifts restrictions on outdoor sports, recreational parks

The Federal Government has lifted its ban on non-contact outdoor sports. It also approved use of recreational parks for supervised physical exercise only. It emphasised recreational parks are not to be used for social interaction purposes, asking those unable to enforce this to remain closed. The National Coordinator of the Presidential Task Force on COVID-19,…

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