Business

Stakeholders in the Niger Delta on Tuesday faulted moves by International Oil Companies (IOCs), to divest their onshore assets in preference to offshore fields.

The stakeholders stated that the divestment move was contrary to the transition advocacy to renewable energy sources and a ploy to evade development obligations and responsibility for polluting the area.

The stakeholders stated this in a communiqué issued yesterday after a one-day forum on “Community dialogue on unmasking the motives of IOCs divestment in the Niger Delta”.

The forum, facilitated by the Environmental Rights Action Friends of the Earth Nigeria, ERA/FoEN, was attended by oil community …

Nestlé Professional Nigeria is collaborating with Wavecrest College of Hospitality in Lagos to help nurture upcoming chefs and hospitality professionals.

The collaboration will offer the students of Wavecrest College of Hospitality the opportunity to learn from experts at the leading nutrition, health and wellness company in the world.

Speaking during the collaboration, the Corporate Communications and Public Affairs Manager, Nestlé Nigeria PLC, Victoria Uwadoka said: “It is evident that young chefs and hospitality professionals own the future of the food and hospitality industry in Nigeria.

“We are therefore excited about this collaboration with Wavecrest to further expose them to the …

Mr Felix Osifo, President, Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and its Secretary General, Mr Lumumba Okugbawa at a media parley held on Tuesday in Lagos.

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) said it would ensure that issues of casualization in the oil and gas industry are reduced to the barest minimum.

PENGASSAN’s President, Mr Festus Osifo, made this known at a media parley with the Labor Writers Association of Nigeria held on Tuesday in Lagos.

Read Also: Count Us Out Of Strike – NUPENG To PENGASSAN

Osifo also made the …

Trade volume between Indonesia and Nigeria reached 2.46 billion dollars between 2016 and 2021, says Amb. Usra Harahap, Ambassador of Indonesia to Nigeria.

Harahap said this on Tuesday in Abuja while fielding questions from newsmen, when he said about 25 Indonesian companies had invested in Nigeria.

He said trade between the two countries kept increasing in the last six years.

“In 2016 it reached 1.59 billion dollars and in 2021 it increased to 2.46 billion dollars.

“Since the outbreak of COVID-19 pandemic in early 2020, however, there has been a drastic decline from 2.34 billion dollars in 2019 to 1.2

The Nigerian Exchange (NGX) Ltd., on Monday recorded a gain of ₦53.51billion following investors’ interest in Union Bank and Access Bank.

Specifically, the market capitalization garnered N53.51billion or 0.20 percent to close at N26.18 trillion from ₦26.125 trillion on Friday.

Also, the All-Share Index advanced by 99.26 points or 0.20 percent to close at 48,558.91 against 48,459.65 achieved on Friday.

Accordingly, the Month-to-Date and Year-to-Date gains increased to 3.4 percent and 13.7 percent respectively.

The result was impacted by gains recorded by Guaranty Trust Holding Company(GTCo), United Bank for Africa (UBA), Zenith Bank Stanbic Bank and First Bank Nigeria Holdings …