Nigeria to benefit as oil seen rallying to $100

Nigeria to benefit as oil seen rallying to $100

Nigeria could be in line for a windfall from a rally in oil prices this year if all the projections by analysts come to pass. It will be good for an economy that has been seriously squeezed by shortfalls in revenues since 2015 and hit by a double whammy recession, which it just barely managed […]

Seplat Energy’s former CEO responds to termination of contract by oil firm

Seplat Energy’s former CEO responds to  termination of contract by oil firm

Austin Avuru, the immediate past chief executive officer of Seplat Energy, has responded to the announcement by the oil company of the termination of his contract as a non-executive director over what the company alleged to be governance infractions. The board of the Lagos and London quoted indigenous oil and gas exploration and production company, […]

Nigeria’s SAPZ project gets AfDB board’s approval for $210m loan 

Nigeria’s SAPZ project gets AfDB board's approval for $210m loan 

The African Development Bank (AfDB) has approved a $210 million loan to co-finance the first phase of the Nigeria Special Agro-Industrial Processing Zone Programme (SAPZ).  The board of directors of the board gave approval for the facility to be made available to Nigeria, the development finance institution said in a statement made available to Business […]

Top banker, Osadolor, leads rescue board for electricity utility, AEDC

Top banker, Osadolor, leads rescue board for electricity utility, AEDC

Victor Osadolor, a top Nigerian banking executive and chartered accountant, is now understood to be leading a board of directors on a rescue mission for troubled electricity utility company, Abuja Electricity Distribution Company (AEDC), whose coverage includes the Federal Capital Territory of Abuja, Nigeria’s capital city, and Nasarawa, Niger, and Kogi states. The new board […]

Aiteo: Indigenous player responds to internationally familiar crisis 

Aiteo: Indigenous player responds to internationally familiar crisis 

Deploys equipment in Nembe creek to stop leak Amid crisis, Aiteo responds to communities with relief materials 6-year-old Nigerian company with 70% vandalization of its Nctl needs support, say experts   Aiteo, Nigeria’s indigenous oil producing company, had a major wellhead leak crisis catapult it to the position of becoming the very first indigenous player […]