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Business

Buhari removes Kachikwu as GMD of NNPC

President Muhammadu Buhari has removed Dr. Ibe Kachikwu as the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), he has also appointed Dr Maikanti Kacalla Baru as the new GMD of the Corporation.  

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Breaking: CBN takes over Board of Skye Bank

The Central Bank of Nigeria, CBN, on Monday, took over the Board and management of Skye Bank Plc after the lender failed to meet the regulator’s minimum key liquidity and capital adequacy ratios. The CBN Governor, Godwin Emefiele, disclosed this at a press conference, held at the CBN’s head office in Lagos. Emefiele said the apex bank had appointed a …

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FG to withdraw troops from Niger Delta communities, opts for dialogue

The Federal government has directed that troops should be withdrawn from Niger Delta communities as part of efforts to find an amicable solution to the spate of pipelines vandalism in the oil producing region. The directive was given at the end of an emergency  security council meeting which took place on Tuesday with Vice President Yemi Osinbajo presiding. The meeting, …

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Attacks on Eni & Aiteo pipelines reduces oil production by 140,000 barrels per day

Last week’s attacks by Niger Delta Avengers on oil pipelines belonging to Nigerian Agip Oil Company (NAOC) and Aiteo have reduced Nigeria’s daily crude oil production by 140,000 barrels The combined figure was revealed separately by spokespersons of the two companies on Sunday According to Eni, the parent company of Nigerian Agip Oil Company (NAOC),  the oil firm’s production had been cut …

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Senate excoriates Fashola over Poor Power Supply, Tariff

The Joint Senate Committee on Power, Employment, Labour and Productivity Tuesday lamented the deplorable state of power supply in the country and told the Minister of Power, Works and Housing, Mr. Babatunde Fashola, to live up to his responsibility. Lamenting the state of power supply in the country, the Senate committee accused Fashola of defending what it perceived as an unjustifiable …

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Militants destroy NNPC Trunk line warn IOCs of a big bombshell

The Niger Delta Avengers on Friday claimed responsibility for the sabotage on Thurday night of NNPC Gas and Crude trunk line in Warri. The militant group has also warned Indigenous Oil Companies (IOC) and the Nigerian Military to watch out: “something big is about to happen and it will shock the whole world”.

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