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BEDC To Roll Out 572,392 Meters In Franchise Areas

BEDC To Roll Out 572,392 Meters In Franchise Areas

October 12, 2019 3:15 pm

The Benin Electricity Distribution Company, BEDC Electricity Plc. has announced a total rollout plan of 572,392 meters within the next two years across its franchise areas covering Edo, Delta, Ondo and Ekiti state under the Meter Asset Provider (MAP) scheme.

The breakdown according to a statement from BEDC, is as follows: Edo, 190,000 meters, Delta; 200,200 meters, Ekiti; 67,452 meters and Ondo; 114740 meters respectively.

Executive Director, Commercial, Mr. Abu Ejoor made this known during Media launches of the MAP scheme held across the coverage areas in Benin, Asaba, Ado-Ekiti and Akure, stressing that in taking off, MAP will …

NNPC/Chevron, NDPHC Olorunsogo Others Sign GSAA

NNPC/Chevron, NDPHC Olorunsogo Others Sign GSAA

October 12, 2019 2:40 pm

Chevron Nigeria Limited, CNL, in its capacity as Sellers’ Representative for the Nigerian National Petroleum Corporation and itself, has signed a Gas Sale and Aggregation Agreement, GSAA, with Olorunsogo Generation Company Limited, Niger Delta Power Holding Company Limited, NDPHC, and Gas Aggregation Company Nigeria Limited, GACN.

The agreement was executed on behalf of the four companies by Sanjay Narasimhalu, Director, Downstream Gas, CNL; Chiedu Ugbo, MD, NDPHC; Ifeoluwa Oyedele, Executive Director, NDPHC, for Olorunsogo Generation Company Limited; and Engr Morgan Okwoche, MD/CEO, GACN, respectively.

Under the deal, the CNL will supply on an interruptible (reasonable endeavours) basis, a daily contract …

UK And Nigeria Partners To Host Sustainability Conference

UK And Nigerian Partner To Host Sustainability Conference

October 12, 2019 4:53 am

The Energy Institute Nigeria, in partnership with the UK Department for International Trade (UK DIT) is set to hold this year’s edition of its annual Energy Sustainability Conference.

The conference, scheduled to hold from 16th to 17th October 2019 at the Lagos Oriental Hotel presents a suitable platform for all stakeholders within the energy industry to discuss, share ideas, and make valuable recommendations that will enhance further growth and development of the sector.

Under the theme “Energy Landscape: Minimizing Risks and Maximizing Opportunities”, this 2-day conference seeks to enable knowledge transfer, foster relations, and sharpen skills of participants …

Wall Street Rises On Hopes Of U.S - China Trade Deal

Wall Street Rises On Hopes Of U.S – China Trade Deal

October 10, 2019 1:38 pm

U.S. stocks rose in early afternoon trading on Thursday on hopes that top-level U.S.-China trade talks would yield at least a partial deal, while a rise in Apple’s shares lifted the technology sector.

Wall Street’s main indexes moved higher after President Donald Trump tweeted he would meet Chinese Vice Premier Liu He on Friday for further trade talks.

“The tweet … is giving market participants a reason to believe that perhaps a trade deal or at least a partial deal might be announced as early as tomorrow,” said Robert Pavlik, chief investment strategist at SlateStone Wealth LLC in New York.…

UK Commits Extra £2.5m To Support Commonwealth Free Trade

UK Commits Extra £2.5m To Support Commonwealth Free Trade

October 10, 2019 4:07 am

The Department for International Trade and International Development has committed an additional £2.5 million of UK aid funding for the Commonwealth Standards Network (CSN) programme, pledging that it would continue to partner Commonwealth in championing free trade in the face of growing global challenges.

Senior Communications Officer at the Department of International Trade and International Development, Jessica Vickerage, said in a statement that the CSN works to increase the use of international standards across the Commonwealth, in order to promote inclusive intra-Commonwealth trade.

The statement added that the additional funding will help the CSN continue its valuable work to break …

VP Osinbajo Inspects 3,000 Hectares Farm In Nasarawa

Nigeria-UAE Bilateral Trade Hits $1.2b, Says Osinbajo

October 6, 2019 12:51 pm

The Vice President, Professor Yemi Osinbajo  Saturday put the value of bilateral trade between Nigeria and the United Arab Emirates (UAE) at $1.2 billion, noting that both countries would continue to become strong regional players.

Osinbajo made the disclosure at the 2019 United Arab Emirate (UAE)-Nigeria Cultural and Arts Exhibition 2019 held in Lagos.

He noted that there trade between the two countries had been in the increase.

The Vice President described the relationship between the two countries as strong and necessary and remarked that there were many other sectors of the economy where both countries could cooperate to …

Union Bank Secures $200m To Fund SMEs And Market Women

Union Bank Secures $200m To Fund SMEs And Women Groups

October 4, 2019 3:16 pm

Union Bank of Nigeria Plc has secured $200 million in funding via a partnership with sub-Saharan Africa financial services group, Atlas Mara Limited, in agreement with Overseas Private Investment Corporation (OPIC), the United States government’s development finance institution.

In notification to the Nigerian Stock Exchange (NSE) yesterday, Union Bank said under the terms of the agreement, the bank will receive a 10- term credit facility of up to $200 million from OPIC for investments in digitisation, on-lending to Small and Medium Enterprises (SMEs) and funding for women-led businesses, as part of OPIC’s 2X Women’s initiative which aims to catalyse $1 …

NPA Port Decommissioning Threatens BUA's $400m Project

NPA Port Decommissioning Threatens BUA’s $400m Project

October 4, 2019 2:32 pm

The recent decommissioning of BUA Ports and Terminal, Port Harcourt, Rivers State by the Nigerian Port Authority (NPA) is threatening the take-off of $400 million project and negating the federal government’s policy of ease of doing business and efforts to attract investments to the country.

The General Manager, BUA Ports & Terminals Limited, Mr. Mohammed Lile Ibrahim, stated this, insisting that the action by the government agency was not only undermining concession agreements and internationally acceptable judicial/dispute resolution procedures but also contradicts federal government’s claims of creating conducive environment for businesses to thrive.

Ibrahim said while BUA had been fulfilling …

Clear 735 Trucks At Seme Border; Freight Forwarders Beg FG

Clear 735 Trucks At Seme Border; Freight Forwarders Beg FG

October 2, 2019 8:36 am

The Association of Nigeria Licensed Customs Agents (ANCLA)  has pleaded with the Federal Government to urgently clear 735 trucks loaded with perishable goods now stranded at Seme.

Mr Bisiriyu Fanu, Seme border Chapter Chairman of ANLCA, made the appeal in an interview on Monday in Seme since August  20.

President Muhammadu Buhari had said at the Seventh Tokyo International Conference for African Development (TICAD7), in Yokohama, Japan that the partial border closure was because of the massive smuggling activities, especially of rice on that corridor.

Fanu said that each of the trucks was carrying over N20 million worth of goods …

CBN Lists Benefits of Digitisation To Banking Supervision

CBN Lists Benefits of Digitisation To Banking Supervision

October 2, 2019 8:05 am

The Central Bank of Nigeria (CBN) has said digitisation supports effective supervision of the financial system, data access and management.

The CBN Deputy Governor, Financial System Stability (FSS) and Chairman, FITC Board, Mrs. Aisha Ahmad (CFA), disclosed this during the opening of the 2019 CBN/FITC Continuous Education Programme for Directors of Banks and Other Financial Institutions held in Lagos.

The Deputy Governor was represented by the Director, Banking Supervision Department, CBN, Mr. Ahmad Abdullahi at the event.

Speaking on the theme: “Digital Transformation – Repositioning Financial Institutions: Perspectives and Imperatives for the Board,” she said the world was experiencing a

…
Report: Nigeria loses $600m annually to illegal fishing

Report: Nigeria loses $600m annually to illegal fishing

September 16, 2019 11:32 am

Nigeria is losing $600 million annually to illegal and unreported fishing by foreign vessels as a result of lack of equipment such as Automatic Identification System (AIS) and Vessel Monitoring System (VMS), and adequate manpower to police the country’s vast coastline, THISDAY’s investigation has revealed.

THISDAY gathered that the country also spends $800 million annually on fish importation, being the fourth largest importer of fish in the world, after China, Japan and the United States.

Nigeria imports frozen fish varieties, including mackerel (locally called Titus or alaran), herrings (locally called shawa), horse mackerel (locally called kote), blue whiting (locally called
…
Facebook cancels event in South Africa

Facebook cancels event in South Africa

September 12, 2019 11:50 am
Technology giants, Facebook have cancelled their upcoming event in Cape Town, South Africa scheduled for October 3rd, 2019 due to ‘unforeseen circumstances’.It is unclear, however, if the cancellation is related to the attacks on foreign businesses that has rocked South Africa in recent weeks.

“Due to a number of unforeseen circumstances, we have had to cancel the Facebook ID8 event in Cape Town on October 3rd, 2019. We hope to bring the event to the region later in the year,” Facebook said.

The social media company which connects over 139 million in Africa organised the event for developers and

…

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