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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Furore over WAEC’s new examination diet

DISAGREEMENT Less than one week that the West African Examinations Council (WAEC) unfolded plans to introduce a new diet for external candidates, key stakeholders have faulted the move, kicking that it would not see the light of the day   While Nigerian students and their parents are yet to recover from the confusion generated by this year’s Unified Tertiary Matriculation Examination (UTME) registration, the West African Examinations Council (WAEC), last week, introduced a new diet in its examinations, which has continued to generate debate among stakeholders. With the new diet,…

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NMRC, developers laud Nigeria’s House Price Index

The Nigerian Mortgage Refinance Company (NMRC) and developers of Lekki Gardens have thrown their weight behind the takeoff of Roland Igbinoba House Price Index (RI), the first in the country. Executive Director of NMRC, Mr.Kehinde Ogundimu, who represented his managing director, gave insight into the usefulness of a house price index in Lagos. He pointed out that absence of useful data had been a major challenge to government, home seekers and investors in the drive to make decision about housing market. He lauded President of Pison Housing Company, Mr Roland…

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Fidelity Bank customers win N9m in promo draw

Winners have emerged in the seventh edition of Fidelity Bank Plc’s Get Alert in Million Promo draws held in various regions of the country. The winners, according to a statement, emerged from a transparent randomisation process, which was vented by the bank’s control team and witnessed by officials from Consumer Protection Council (CPC) and other stakeholders. Aside from other consolations prizes ranging from refrigerators to generating sets, the seventh edition of monthly draw saw four lucky customers from South/West, South/South, South/East and Abuja regions of the bank winning N1 million…

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Building insurance gains traction from regulators, lawmakers

With regulators and lawmakers putting modalities in place to fully implement building insurance in the country, victims of subsequent disasters are set to get paid for losses. Sunday Ojeme reports     Effort by the Federal Government to ensure Nigerians embrace all aspects of Compulsory Insurances is gaining strength following insurance regulators and lawmakers’ synergy on public building insurance. The latest determination, which began two weeks ago with a meeting between the National Insurance Commission (NAICOM), Nigerian Insurers’ Association (NIA) and Federal Fire Service, was given another traction last week…

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The world’s richest clubs owners in 2017

Steve Ballmer, worth $30 billion: Steve is the world’s richest sports team owner for the third straight year. He bought the Los Angeles Clippers in 2014 for $2 billion in the wake of the Donald Sterling scandal, which rocked the NBA when racially charged comments made by Sterling were made public. The Clippers purchase was 10% of Ballmer’s fortune at the time and many pegged it as an over-pay for a basketball junkie who wanted into the exclusive NBA owners club. Ballmer’s timing was perfect as the league inked a…

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The restructuring debate

The need to restructure Nigeria has continued to dominate the political space of late. The calls, no doubt, are predicated on the dangers of ethnicity, religious bigotry and economic deprivation, which are rapid destroyers of any society Advocates of restructuring are of the view that Nigeria is likely to disintegrate if urgent steps are not taken to address pertinent questions of autonomy for the states; fiscal federalism to pave the way for resource control by the states; equality of states and local governments among the six geo-political zones; state police…

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El-Rufai warns against senator’s recall

Governor Nasir El-Rufai has dismissed the purported plan to recall Senator Suleiman Hunkuyi as he reaffirmed his firm support for and solidarity with the distinguished Senator of Kaduna North Senatorial District. In a statement issued yesterday by Mr. Samuel Aruwan, the media aide to El Rufai, the governor warned those behind the move to stop tarnishing the image of respected persons as well as creating divisions within the party. El Rufai warned that those playing the childish game of a futile recall bid on Senator Hunkuyi should desist, saying: “We…

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