New York The exclusive $1 trillion club on Wall Street just got a new member. Shares of Google parent company Alphabet hit a new all-time high Thursday, pushing the company’s market value to $1 trillion in the process.
Here’s the story of how Theophilus Danjuma became a billionaire after purchasing an oil block during the Sani Abacha era.
In 1998, Gen Theophilus Yakubu Danjuma was awarded an oil block by then military dictator, Gen Sani Abacha.
The deal would go on to make Danjuma “one of a handful of Nigerians made extraordinarily wealthy from the country’s energy reserves”, Bloomberg writes
To acquire the block at the time, Dajuma paid $25million for an oil field exploration license. In the years that followed,
The Minister of State for Petroleum Resources, Mr. Timipre Sylva has disclosed that Nigeria flared about 324 billion cubic feet (bcf) of natural gas in 2017.
Sylva, who said this at the recent 9th annual gas summit of the Nigeria Liquefied Petroleum Gas Association (NLPGA), added that the volume of gas flared by the country in that year was worth $1 billion, and could as well produce for her 3000 megawatts (MW) of electricity daily.
He spoke through the Programme Coordinator for the Nigerian Gas Flare Commercalisation Programme (NGFCP), Mr. Justice Derefaka, and explained that in addition, the country failed …
Tesla unveiled its futuristic pickup truck at a promotional event in Los Angeles, but when it came to showing off the vehicle’s durability, things didn’t quite go as planned.
CEO Elon Musk claimed the car was “bulletproof” against a 9mm handgun. But when he
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The company in a statement on Sunday in Lagos said the contract confirmed the purchase rights from the original contract signed in April. It said the new E195-E2s would be included in Embraer’s 2019 fourth-quarter backlog, and the $212.6 million was based on Embraer’s current list prices.
The E195-E2 is the largest aircraft in the E-Jet E2 family.
It has been designed to maximise returns and efficiency on high-density routes with its high-aspect ratio wings and swept tips, combined with other …
The Customs Service, Seme Border Area Command, says it has intercepted 875 bags of foreign parboiled rice and other goods, valued at N40m, in two weeks.
ASC Nuruddeen Saidu, the Customs Public Relations Officer, Seme, Area Command, disclosed this in a statement on Monday, in Lagos.
The statement quoted that the Customs Area Controller of the Command, Comptroller Mohammed Garba, as saying that the efforts of the enforcement unit of the Command, with regard to suppression of smuggling, was yielding remarkable results.
According to the controller, the goods seized include 875 bags of 50kilogram bags of foreign parboiled rice, …
Mr Seyi Makinde, the Oyo State Governor, on Monday, made public his assets after he received a copy of the asset declaration form which he had earlier submitted to the Oyo State office of the Code of Conduct Bureau (CCB) in Ibadan.
News Agency of Nigeria (NAN) reports that details of the assets show that he is worth over N60,473,300,066 according to the figures in the forms calculated with CBN rates for foreign currencies.
The details are contained in the CCB 1 with the name Oluseyi Abiodun Makinde, which was declared at the High Court of Oyo State, on May
The Federal High Court in Lagos on Friday ordered the temporary forfeiture of 2,149 pieces of jewelry and a customised gold iPhone, seized from Mrs. Diezani Alison-Madueke, to the Federal Government.
The items, valued at $40million (about N14.4b), were recovered from the home of the former Minister of Petroleum Resources.
Justice Nicholas Oweibo ordered their temporary forfeiture as prayed for by the Economic and Financial Crimes Commission (EFCC).
The commission, in an ex-parte application moved by Mr Rotimi Oyedepo, said the items were suspected to have been acquired with illicitly acquired funds.
Mrs. Alison-Madueke is the defendant in the application …
One of the bookrunners handling Airtel Africa Ltd.’s planned initial public offering on the London Stock Exchange said on Monday it had received indications of interest worth about $200 million from pre-IPO investors.
Read Also: Bharti Airtel to pay Tanzania $26 million
Airtel Africa, a unit of India’s Bharti Airtel Ltd., last week set a price range of 80 to 100 pence per share for its IPO.
The firm is expected to raise 595 million pounds from the issuance of 595.2 million to 744 million new shares. (Reuters/NAN)…
Federal authorities seized 16.5 tons of cocaine worth more than $1 billion from a ship in Philadelphia in one of the largest drug seizures in U.S. history, the U.S. Justice Department said on Tuesday.
Federal, state and local law enforcement agents on Monday boarded the MSC Gayane, a cargo ship docked in Philadelphia’s Packer Marine Terminal, and found cocaine in seven shipping containers, according to a criminal complaint filed in Philadelphia federal court.
Federal authorities arrested and charged two of the ship’s crewmembers Ivan Durasevic and Fonofaavae Tiasaga. Both men told investigators how they helped load the ship with cocaine …
The Comptroller-General of Customs (CGC) Strike Force Zone ‘A’ has intercepted 2,494 bags of 50kg parboiled rice, 1288 jerrycans of vegetable oil and assorted cars with Duty Paid Value of N47million in one month.
The Officer in Charge of CGC strike force Zone ‘A’ Deputy Comptroller (DC) Yahaya Biu, made the disclosure to newsmen on Thursday in Lagos.
Biu said the goods were intercepted in various locations in the zone.
“The seized items were conveyed in different vehicles ranging from Mazda to Toyota vehicles numbering six cars, five buses and two trucks.
“The vehicles were fully loaded with the seizures …
