Templates by BIGtheme NET
Home > Business

Business

PENGASSAN insists on nationwide strike Monday

oil2

The Petroleum and Natural Gas Senior Staff Association of Nigeria on Saturday insisted that its planned industrial action will commence on Monday. The group however, noted that it was ready to discuss with the government and other concerned organisations on the strike.  According to PENGASSAN, nothing has changed since it issued a statement to announce that its meeting with the ...

Read More »

How blockchain is transforming health care, medical records

blockchain

  Blockchain technology has been at the centre of media attention due largely to bitcoin, an upcoming digital currency that uses blockchain technology, increasing in value, netting investors unheard of returns. However, not many people actually understand what blockchain itself is, www.dataconomy.com says. Simply put, a blockchain is a distributed, immutable ledger or database that stores records known as blocks. Blocks can ...

Read More »

Disney to buy parts of 21st Century Fox for $52.4bn

disney

Walt Disney Co. said Thursday it had reached a deal to buy 21st Century Fox for $52.4bn (44.3 billion euros) in stock after the spinoff of the firm’s television stations and Fox News channel. “Building on Disney’s commitment to deliver the highest quality branded entertainment, the acquisition of these complementary assets would allow Disney to create more appealing content, build ...

Read More »

EU pledges €25m for the expansion of Nigeria’s power transmission

Chinedu-Nebo-Minister-of-Power

The European Union has pledged to support the expansion of Nigeria’s power transmission infrastructure with a grant of €25m (N7.6bn at the official exchange rate of N305 to one Euro). According to the Transmission Company of Nigeria, the grant will support the TCN on solar Independent Power Projects’ evacuation.  The Interim Managing Director, TCN, Usman Mohammed, who disclosed this to ...

Read More »

GE, Mainstream sign N8.3bn Kainji power plant rehabilitation contract

hydro power plants

Mainstream Energy Solutions Limited has injected a fresh $26m (N8.3bn) investment into the Kainji Hydro Power Plant to rehabilitate its Hydro Turbine Generator unit. The agreement for the rehabilitation project was signed with General Electric in Abuja. With the rehabilitation expected to be completed in 24 months, the fresh investment will add 80 megawatts, thus raising Mainstream’s power generation capacity ...

Read More »

Airtel launches 4th edition of CSR initiative

airtel

Airtel Nigeria has announced the commencement of the fourth edition of its award-winning corporate social responsibility initiative called Airtel Touching Lives. The Managing Director and Chief Executive Officer, Airtel Nigeria, Mr. Segun Ogunsanya, said the initiative aimed to promote the culture of giving among Nigerians, while speaking at a press conference in Lagos to announce the commencement of season four ...

Read More »

Addax to invest $5bn in Nigeria

oil2

Addax Petroleum Development (Nigeria) Limited has said it is planning a fresh investment of $3bn to $5bn in Nigeria over the coming years. The company, in a statement on Sunday, affirmed its commitment to Nigeria, saying its future in Nigeria remained very bright. It said it would optimise its oil and gas operations in the country and increase production from ...

Read More »

FG signs Bilateral Air Service Agreement with UAE

Aircraft landing on runway

The Federal Government has signed a Bilateral Air Service Agreement with the United Arab Emirates’ government. It also announced that an indigenous carrier had been cleared and had commenced operations from Nigeria to Dubai, a development which industry experts attributed to the latest agreement. The agreement between Nigeria and UAE was signed in Colombo, Sri Lanka, with the Minister of ...

Read More »

LSETF seeks applications for employability support project

L-R Hon. Alderman Roger Gifford, Lord Mayor of the City of London, Gov. Babatunde Fashola of Lagos state and Mr. Peter Carter, Deputy British High Commissioner in Lagos, During the Lord Mayor of the City of London visit Governor of Lagos state in Ikeja. Photo: Bunmi Azeez

The Lagos State Employment Trust Fund, in partnership with the United Nations Development Programme, has announced the call for applications into the Lagos State Employability Support Project. The LSESP provides short vocational training programmes, implemented by the LSETF, to provide youths in the state with industry relevant skills that can help them gain possible employment and advance in life. “Applications ...

Read More »

IATA projects global aviation profit to hit $38.4bn

Aircraft landing on runway

The International Air Transport Association says the global industry net profit will rise to $38.4bn in 2018. IATA in a statement on Tuesday said this would be an improvement from the $34.5bn expected net profit in 2017, which was revised from a $31.4bn forecast in June. According to the association, which represents about 275 airlines globally, strong demand, efficiency and ...

Read More »

YouTube to hire over 10,000 workers

youtube

YouTube CEO Susan Wojcicki said “some bad actors are exploiting” the Google-owned service to “mislead, manipulate, harass or even harm.” Google will have more than 10,000 workers address the problem by next year, though her blog post Monday doesn’t say how many the company already has. Spokeswoman Michelle Slavich said Tuesday that some have already been hired, and the team ...

Read More »

Trump nominees missing advanced science degrees

Donald Trump

When it comes to filling jobs dealing with complex science, environment and health issues, the Trump administration is nominating people with fewer science academic credentials than their Obama predecessors. And it’s moving slower as well, apnews.com reported on Tuesday. Of 43 Trump administration nominees in science-related positions — including two for Health and Human Services secretary — almost 60 per ...

Read More »

Stock market gained N448bn in November

currency exchange

The Nigerian stock market (equities category) appreciated by N448bn in November this year. The Nigerian Stock Exchange market capitalisation stood at N12.766tn as of November 1, 2017 but closed at N13.214tn on the last day of trading in November (November 30). The All-Share Index of the NSE also recorded a significant advancement as it closed at 37,944.60 basis points on ...

Read More »

Power generation returns to 4,000MW as hydro plants recover

hydro power plants

The nation’s power generation has returned to the 4,000 megawatts mark following the recovery in the output of hydropower plants and a few thermal plants. The nation generates most of its electricity from gas-fired power plants, while output from hydropower plants makes up about 30 per cent of total generation. Generation from Kainji, Jebba and Shiroro hydro plants fell to ...

Read More »

GSHL disagrees with FG on Ajaokuta Steel

oil2

Global Steel Holdings Limited has insisted that the ongoing issue around the Ajaokuta Steel Company Limited has not been resolved just as it also says that the delay in concluding the talks is not caused by it. The company on Friday appealed to the Ministry of Mines and Steel Development to withdraw the information on its website regarding the matter, ...

Read More »

Nigeria to begin manufacturing Electric Cars

electric car

The National Automotive Design and Development Council in Nigeria has intimated the public that electric cars in the West African country would soon be a reality. It made the statement on Thursday, 16th November 2017, noting that it will collaborate with relevant stakeholders to achieve the goal. The Director General, National Automotive Design and Development Council, Mr. Jelani Aliyu MFR disclosed this at the ...

Read More »

FG opts against $550m Chinese loan for communications satellites

BEIJING, CHINA - APRIL 12:  President of the Federal Republic of Nigeria Muhammadu Buhari (L) and Chinese President, Xi Jinping (R) shake hands during the signing ceremony at Great Hall of the People on April 12, 2016 in Beijing, China. (Photo by /Kyodo News - Pool/Getty Images)

The Federal Government has backed out of a plan to take a loan of $550m from the Chinese Export and Import Bank for the construction of two new communications satellites. The Minister of Communications, Mr. Adebayo Shittu, said this in an interview with our correspondent on the sidelines of the Alliance for Affordable Internet – Nigeria Coalition meeting chaired by ...

Read More »

Cybersecurity summit to address IT risk, threats

new-virtual-reality-headsets-that-work-with-windows-10

The West African Cybersecurity Summit will provide a platform for government officials and businesses to learn about the sophisticated solutions to tackle cybersecurity threats. According to a statement by the organisers of the summit, Afrocet Montgomery, Nigeria is one of the world’s fastest growing cybersecurity economies in Africa. It added that the summit, slated for March 21, 2018 in Lagos ...

Read More »