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Chinese oil firm to invest $3bn in Nigeria

Chinese oil firm to invest $3bn in Nigeria

Okechukwu Nnodim, Abuja The management of China National Offshore Oil Corporation has expressed its readiness to invest additional $3bn in its existing stakes in offshore oil and gas operations in Nigeria. According to the Chief Executive Officer of the Beijing-based corporation, Yuan Guangyu, the investment in Nigeria is the most strategic and important overseas business […] …

New corporate governance code’ll attract fresh investments – FRC

New corporate governance code’ll attract fresh investments – FRC

Ifeanyi Onuba, Abuja The Executive Secretary, Financial Reporting Council of Nigeria, Mr Daniel Asapokhai, has said that the Nigeria Code of Corporate Governance currently being prepared by the council will attract local and foreign investments to the country. He said this in Abuja during a public hearing on the country’s Code of Corporate Governance. He […] …

FAAC to probe N90bn revenue underpayment by FIRS

FAAC to probe N90bn revenue underpayment by FIRS

…wants oil revenue collection system overhauled Ifeanyi Onuba, Abuja The Federation Account Allocation Committee has expressed its readiness to probe the N90bn allegedly underpaid into the Federation Account by the Federal Inland Revenue Service. The Chairman, Commissioners’ Forum of FAAC, Mahmood Yunusa, said this in a chat with journalists in Abuja on Sunday. He alleged […] …

Plans to impose duty on soaps, others worry LCCI

Plans to impose duty on soaps, others worry LCCI

Anna Okon The Lagos Chamber of Commerce and Industry has expressed worries over plans to impose excise duty on basic consumer goods. The Federal Government recently commenced the enforcement of the approved amendment to the excise duty rates for alcoholic beverages, spirits and tobacco in the country. In a statement signed by the Director-General, LCCI, […] …

Lawmaker, NRC disagree on Lagos-Ibadan rail delivery date

Lawmaker, NRC disagree on Lagos-Ibadan rail delivery date

The joint Senate and House of Representatives Committee on Land Transport has expressed doubt over the December deadline for the delivery of the Lagos-Ibadan standard gauge rail project. The Minister of Transportation, Rotimi Amaechi, had last month said the December deadline was not negotiable. However, addressing journalists on Thursday after an inspection of the project, […] …

‘Nigeria needs more investments in safety infrastructure’

‘Nigeria needs more investments in safety infrastructure’

Maureen Ihua-Maduenyi Stakeholders in the aviation industry have called on the Federal Government to invest more in safety infrastructure. This, according to them, will help the industry to grow and contribute more to the country’s Gross Domestic Product. The Managing Director, Nigerian Aviation Handling Company Plc, Idris Yakubu, said at the 2018 Summit and Awards […] …

Senate raises the alarm over Enugu airport’s runway

Senate raises the alarm over Enugu airport’s runway

Leke Baiyewu, Abuja The Senate has raised the alarm over the dilapidated state of the runway of the Akanu Ibiam International Airport Enugu, warning that the facility is now a threat to the safety of air traffic passengers. While debating a motion entitled ‘Need for Emergency Reconstruction of the Runway of the Akanu Ibiam International […] …

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