Qatar Airways says it has increased its service to Lagos, Nigeria’s commercial hub, to two daily flights starting from July 1, 2021. The airline made the announcement in a statement on Friday. The development, which the airline attributed to its “response to high demand”, will be operated through the Boeing 787 Dreamliner featuring 22 seats in business class and 232 seats in economy class. “This frequency increase will offer passengers even more flexibility to travel on board with the highest standards of hygiene measures and to enjoy a seamless travel experience on board at Hamad International Airport,” the statement reads.…
Author: Temitope Nlewemchi
The federal government has acquired two mobile air traffic control (MATC) towers worth N1.7 billion as a measure to enhance flight safety. Hadi Sirika, minister of aviation, recently inaugurated the mobile towers at the Lagos airport. Mobile towers can be used for smaller airports, military deployments, airport visual control room (VCR) refurbishments, disaster relief or special events. Sirika said the equipment would be deployed by the Nigerian Airspace Management Agency (NAMA) to the Murtala Muhammed International Airport (MMIA), Lagos and the Nnamdi Azikiwe International Airport (NAIA), Abuja. He also said it would be deployed to any other airport where they…
Hundred of passengers on Abuja/Kaduna train are currently stranded in Dutse, Kaduna, as the train developed faults few minutes into the journey. Newsmen report that five minutes after the train departed the Rigasa Station in Kaduna, it developed a mechanical fault. Twice, the train stopped before getting to Dutse, where it finally broke down. Midat Joseph, an Assistant National Secretary of the Nigeria Union of Journalists (NUJ), who is one of the passengers, said the train developed fault around 7:am. “ I left my house as early as 5:am to join the 6:40am train but unfortunately I have been trapped…
The Nigerian Exchange (NGX) Limited last week listed Guaranty Trust Holding Company Plc (GT HoldCo) after delisting Guaranty Trust Bank Plc. The entire 29,431,179,224 issued shares of GTB were delisted while GT Holdco’s entire issued share capital of 29,431,179,224 ordinary shares of 50 kobo each were listed on the bourse. The NGX had penultimate week suspended trading in the shares of GTBank in preparation for the delisting and listing of GTHoldCo pursuant to the Scheme of Arrangement between the bank and its shareholders. In November 2020, Guaranty Trust Bank (GTBank) had notified NGX that it had obtained regulatory approval-in-principle (AIP)…
The federal government says the Central Bank of Nigeria (CBN) will provide N60 billion for the first phase of its national mass metering programme. This is contained in a document which highlights some of the achievements of President Muhammadu Buhari’s administration in six years. The fund will be provided for the supply of one million electricity meters meant for free distribution to unmetered power users across the country. There has been a nationwide rollout of electricity meters to all on-grid consumers, as this was inaugurated in August 2020, with funding provided by the CBN. “The CBN is providing N60bn for…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) is neither planning to go on strike nor planning to shut fuel stations nationwide, its National President, Sanusi Fari, said on Monday. In a statement issued in Awka and signed by the association’s National Secretary, Chidi Nnubia, he said that the public should dismiss any information regarding the planned strike. The association’s National Public Relation Officer, Yakubu Suleiman, had threatened in Abuja on Monday that IPMAN would go on strike and shut fuel stations nationwide beginning from Tuesday because the police laid siege on its secretariat. Suleiman alleged that some police officers…
The Central Bank of Nigeria (CBN) has reassured Nigerians that the financial system of the country is safe, sound and in line with the best possible financial practices. The reassurance was made by the Governor of the CBN, Godwin Emefile, while speaking at a 2-day CBN Fair with the ‘theme: ‘Promoting Financial Stability and Economic Development’ held in Bauchi and Gombe simultaneously on Monday. The CBN Governor added that the apex bank is ever ready to listen to the people of Nigeria in order to know how best to serve them with the aim of improving the financial base of…
The Edo Refinery and Petrochemical Company in Ologbo, Edo State, will commence operation in August, Governor Godwin Obaseki has disclosed. The governor made the announcement after a tour of the refinery located at Ikpoba-Okha Local Government Area. Speaking with reporters, Governor Obaseki expressed satisfaction that work on the plant has moved to such at a great speed in spite of disruptions caused by the COVID-19 pandemic. He said the pre-commissioning with the Department of Petroleum Resources (DPR) had been done and the plant certified okay, adding that what is left is to finalize the crude sales contract…
Vice President Yemi Osinbajo has said that funding for gas and fossil fuel projects in Nigeria and other developing countries will be sustained during the global transition to net-zero emissions, and that Nigeria will continue its frontline advocacy for a just transition. This, according to a statement by Laolu Akande, the Senior Special Assistant to the President on Media & Publicity, Office of the Vice President, was the highlight of a virtual meeting on the subject he presided over on Thursday. Other top federal government officials in attendance included the Ministers of Environment, Dr. Mohammad Mahmood Abubakar; Foreign Affairs,…
President Muhammadu Buhari, at the weekend, approved the appointment of a Chairman, and an Executive Secretary/Chief Executive Officer for the Petroleum Product Pricing Regulatory Agency (PPPRA). The Board Chairman is Mr Atuonwo A. Obinna, while the Executive Secretary and CEO is Mr Abdulkadir Saidu, whose appointment was renewed for another four years. According to the Presidential Spokesman, Femi Adesina, the appointment of Mr Atuonwo Obinna as Chairman Governing Board for a four-year term is in accordance with Section 2 (1-3) and 3 (a) of the Petroleum Product Pricing Regulatory Agency (Establishment, ETC) Act 2003. Also, the renewed appointment…
The Minister of State for Petroleum Resources, Chief Timipre Sylva, says that government will support artisanal refiners that are lawful in their operations. The Minister disclosed this in Abuja on Sunday when he featured at a Forum of the News Agency of Nigeria (NAN). He said that government had been supporting building of modular refineries to help boost local production and equally reduce the impact of oil exploration on the environment. He said that the illegal operations of artisanal refiners had made it impossible for government to support such ventures. “You see, when they talk about artisanal refineries, well,…
Minister of State for Petroleum, Chief Timipre Sylva, has said that the country accidentally discovered 206 trillion cubic feet of gas reserves while in search of crude oil. Sylva, who disclosed this in Abuja at a News Agency of Nigeria (NAN) forum, said that the country could discover an additional 600 trillion cubic feet reserve to enable it achieve the desired development required of a gas nation. “We have a lot of gas in this country. We have 206 trillion cubic feet of gas reserves. “This number is already discovered in gas reserves and this 206 trillion cubic feet…
The Federal Government says it has facilitated the use of a tracking device to track every truck loading petroleum product from any of its depots as part of efforts to nip smuggling in the bud and arrest culprits. Minister of State for Petroleum Resources, Chief Timipre Sylva, said this at a forum organised by the News Agency of Nigeria (NAN) to gauge the achievements recorded in the oil and gas sector in the last two years. Sylva noted that a lot had been achieved in the industry but that the activities of smugglers had continued to overshadow the successes…
The Federal Government says it had no immediate plan to ban the importation of gas cylinders as part of its LPG expansion and implementation plan. Mr Dayo Adesina, Senior Special Assistant on Domestic Gas in the office of the Vice-President, made the disclosure in an interview with newsmen on Sunday in Abuja. He said that the government was working on first building local capacities before contemplating a ban. According to Adesina, who is also the Programme Manager of the National LPG Expansion and Implementation, Nigeria still has a lot of cylinder deficits to fill in meeting the LPG…
The Securities and Exchange Commission has dispelled insinuations in some sections of the media that MBA Capital and Trading Ltd is a registered capital market operator with the Commission. The clarification was made by the Management of SEC in a statement issued by the Head of Corporate Communications, Efe Ebelo in Abuja on Monday. According to the SEC, “The attention of the Securities and Exchange Commission (“the Commission”) has been drawn to a publication in one of the National Daily Newspapers, in which a victim of an alleged scam perpetrated by MBA Capital and Trading Limited, Misan Sagay reportedly stated…
A $500 million U.S. victim compensation fund for the relatives of 346 people killed in two fatal Boeing 737 MAX crashes opened Monday, the claim administrators told Reuters. The fund is part of a settlement with the Justice Department. Boeing Co in January agreed to pay $500 million to compensate the heirs, relatives and beneficiaries of the passengers who died in Lion Air Flight 610 and Ethiopian Airlines Flight 302 in 2018 and 2019. Each eligible family will receive nearly $1.45 million and money will be paid on a rolling basis as claim forms are submitted and completed, said administrators…
The House of Representatives has summoned the Minister of Transportation, Mr. Rotimi Amaechi, and the management of the Nigeria Ports Authority (NPA) to give details of the revenue accruing to the NPA as at December 31, 2016, amounting to N166,685,929,000, which were not properly captured in the statement of account of the agency. The minister and NPA management, which were initially expected to appear before the House Committee on Public Accounts yesterday, pleaded for another date to cause appearance, and were given a July 8 to appear before the committee. They are also to explain the cost of services rendered…
Mr Fidet Okhiria, Managing Director, Nigerian Railway Corporation (NRC), says the corporation will soon include Sunday in the Lagos/Ibadan standard gauge rail service to satisfy customers’ needs. Okhiria disclosed during a two-day retreat for senior management of the corporation held in Lagos on Thursday. “We are working to include Sunday service in our operations. In the next two weeks, Sunday service will commence but we need to service the rolling stock fully before programming the train for seven days of operation. “We want Nigerians to enjoy the train service. If not for the servicing, the Sunday service would have commenced…
The Securities and Exchange Commission has stated that it recognizes the importance of digital platforms for democratizing access to capital market products and services for greater financial inclusion in the capital market. This was stated by Director General of the SEC, Lamido Yuguda, who was represented by the Executive Commissioner Legal and Enforcement, Reginald Karawusa, at a webinar organised by the Commission, with the theme: “Digital platforms: New Frontier for capital Market inclusion.” Yuguda said: “As the apex regulator of the Nigerian capital market, with a dual mandate to regulate and develop the market we recognize that the greatest asset…
Total Companies in Nigeria has unveiled its corporate vision in line with the change of the Total Group to TotalEnergies. The organisation aims to produce more renewable electricity and Liquefied Natural Gas (LNG) by 2030. The oil major also outlined its broad energy lineup that includes oil, gas, electricity, hydrogen, biomass, wind and solar. TotalEnergies is committing $60 billion to investment in renewable energy in the next 10 years, with 10 per cent of that investment expected to come to Nigeria. Speaking at a virtual parley with journalists, the Executive General Manager, Total Country Services, Mrs. Bunmi Popoola-Mordi,…