‘FDI inflows to W’Africa hit $11.4bn in 2016’

Rapid population growth, urbanisation expected to drive next phase of continent’s growth Foreign Direct investment (FDI) inflows to West African countries increased 12 per cent to $11.4 billion in 2016, supported by recovering investment in Nigeria, recent analysis conducted by the Dubai Chamber of Commerce and Industry has revealed. The analysis, based on data from United Nations Conference on Trade and Development (UNCTAD), was released last weekend  by the Chamber as it prepares to host the 4th Global Business Forum on Africa in Dubai on November 1st-2nd, 2017. According to…

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Documents show Prince’s painkiller habit

  Numerous opioid painkillers were found at US singer Prince’s home shortly after his death last year, unsealed court documents show. Some of the pills discovered at Prince’s Paisley Park estate in Minnesota had prescriptions in the name of his friend and bodyguard. But the documents do not offer evidence about the source of the fentanyl that killed the singer on 21 April 2016. Medical examiners have concluded that he died from an accidental overdose. No-one has been charged over the death of the 57-year-old singer. The court documents were…

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Local oil firms walking a tight rope

Indigenous firms are the worst-hit by myriads of challenges bedeviling the oil and gas industry. ADEOLA YUSUF reports on how many of them are running into bankruptcy     Aiteo, an indigenous oil firm, made the headlines penultimate week; basking in the euphoria of its new status as the biggest Nigerian- owned oil firm in terms of production, hitherto known by many as the petroleum product trading firm, it announced the production of the largest share of the 313,602 barrels per day output from indigenous companies. The firm’s management cannot…

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UNILAG, students mourn Ogbeidi, HOD History dept

The management and students of University of Lagos (UNILAG), Akoka, Lagos are yet to recover from the shock of the sudden death of the Head of Department of History and Strategic Studies, Prof. Michael Monday Ogbeidi, whose news of his death threw the entire campus into mourning. Ogbeidi, a Professor of Business History at the Department of History and Strategic Studies and an alumnus of the university, was said to have died after a brief illness. The fond memories of the late lecturer, described as a ‘gentle and consummate teacher,…

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College warns students against cultism, exam malpractice

Determined to enhance the academic quality of the college, the management of Isaac Jasper Boro College of Education, Sagbama, Bayelsa State has warned the students to steer clear of cultism, examination malpractice and other forms of anti-social behaviour that could truncate their education. According to the Provost of the college, Prof. Saviour Nathan Agoro, cultism has not only been outlawed in all higher institutions in the state under the Restoration Agenda of Governor Henry Seriake Dickson, but that there are also stiff sanctions for any student or group of students…

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Athlete Dedewo dumps Nigeria for USA

Quartermiler, Paul Dedewo, will no longer compete in the Green-White-Green colours of the country after he was named in the relay team for his country of birth, the USA, ahead of the 2017 World Relays in Nassau. There was uncertainty over the country he would be competing for this year, but all that was put to rest after the US released their list at the weekend. Dedewo who has had an impressive indoor season, seems to have finally done enough to convince the USA Track and Field Association to name…

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Vessels stranded with 125,500 tons of petroleum products

As loading resumes at Mosimi depot in Ogun State, no fewer than 10 vessels laden with 125,500 metric tons of various petroleum products have been stranded on Lagos water channel since March, 2017, New Telegraph has learnt. The products, which are expected at seven different jetties in the last three weeks, are premium motor spirit (PMS), diesel and Jet A1. These products arrived at Lagos anchorage and are awaiting berthing space. According to Nigerian Ports Authority (NPA)’s shipping position, six of the vessels are being expected at Ibafon jetty with…

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