Category Archives: Business

Nigeria Senate uncovers fresh $1.151bn withdrawal from NLNG fund

The Senate on Tuesday commenced investigation into alleged abuse of dividends accruing to the Nigeria Liquefied Natural Gas (NLNG) by the Nigeria National Petroleum Corporation (NNPC).

Apart from the $1.05 billion the upper chamber asked its committee on Gas to investigate why NNPC claimed to have used to fund petroleum product subsidy, more startling revelations of massive withdrawals from the NLNG fund were said to have been discovered.

The NLNG fund owned by the three tiers of government is said to have been continually unilaterally operated by the NNPC to off set Federal Government financial obligations in exclusion of the states and local governments.

Nigeria’s oil output to hit 1.8m bpd

Nigeria will increase its crude oil production to 1.8 million barrels per day next year, Nigeria National Petroleum Corporation (NNPC) Group Managing Director Maikanti Baru said yesterday.

The country will also raise condensate production to 0.5 million bpd, he added, according to Reuters.

Nigeria produces 1.6 million bpd of oil and 0.4 million bpd of condensate.

Baru said he expected the NNPC to sign deals with consortiums this month to revamp long-neglected oil refineries.

Advert Agencies Turning Down Atiku Adverts For Fear Of Buhari Backlash

“The Atiku campaign is in soup,” said the executive, who asked not to be named. “The problem is that every advert agency the Atiku team has approached, the ones that I am aware of, they turned down the offer because of the fear that the government would move against them. I turned them down myself, both cash and cheque offers to have Atiku featured on billboards in Lagos.”

Advert agencies in Nigeria are turning down offers from Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), for fear of backlash from President Muhammadu Buhari’s government, SaharaReporters has been told.

See Beautiful Nigerian Lady Who Is A Welder

Her name is Ajara Damusa, she’s is a hard-working Welder. Many have commended her for taking the path of diligence.

See more pics…

Atiku’s 33,000 Minimum Wage Not for All Staff, Only Gotel Staff Will Get It

Gotel Communications, one of the ventures owned by Peoples Democratic Party’s presidential candidate, Atiku Abubakar, has reacted to news reports that it has begun implementation of the new minimum wage structure.

The firm’s management said in a statement Friday night that workers would start receiving N33,000 effectively from November 2018.

Nigeria Police helicopter charter services spark row in aviation

Alleged deployment of helicopters in the fleet of Nigerian Police Air Wing into commercial charter operations has sparked row in the aviation sector.

The airlines operators, who protested the move, said the police force ran foul of the civil aviation regulations that prohibited such public-owned asset to engage in “reward and hire” services.

More disturbing for the operators is alleged demarketing and gross underpricing of helicopter operations that the police air wing brought into charter operations, by reducing the average cost of charter by 80 per cent.

Traders Caught Mixing Sniper Insecticide With Beans -VIDEO

A group of traders were recently videos mixing a highly poisonous insecticide called ‘Sniper’ with raw beans meant for sale.

NGR gathered that the traders were seen packaging the poisoned beans for sale to other parts of the country or export. Eyewitness, Debola Akingbade wrote;

Bill Gates Unveils Futuristic Toilet That Turns Human Waste To Fertilizer (Photos)

One of the world’s richest men, Bill Gates, on Tuesday, unveiled a futuristic toilet in Beijing, that doesn’t need water or sewers and uses chemicals to turn human waste into fertilizer.

The Microsoft Corp co-founder, who a day earlier was one of the high profile guests at a major trade event in Shanghai, also lauded the globalized and free trade systems that made the toilet technology possible.