Saturday, July 20, 2019

Oluseyi Awojulugbe

    Baru: In 2017 alone, two pipelines have been vandalised 42 times

Baru: In 2017 alone, two pipelines have been vandalised 42 times

Maikanti Baru, group managing director of Nigerian National Petroleum Corporation (NNPC), says two pipelines have been vandalised 42 times in 2017.Baru made this known while delivering a keynote address at the maiden edition of the Nigerian International Pipeline Technology and Security Conference (NIPITECS 2017) in Abuja on Wednesday.In a statement shared with TheCable, he said the two pipelines affected are [...]

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    Aero Contractors is ‘first Nigerian airline certified’ to carry out airplane maintenance

Aero Contractors is ‘first Nigerian airline certified’ to carry out airplane maintenance

Aero Contractors says it has received certification from the Nigerian Civil Aviation Authority (NCAA) to handle C-checks on Boeing B737-300, B737-400 and B737-500 at the airline’s terminal effective from September 12, 2017.According to a statement shared with TheCable, this is the first time a flag carrier would get such certification."It would be recalled that Aero had earlier received an AMO [...]

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    EXTRA: ‘My best food na suya’ — British high commissioner speaks Pidgin English

EXTRA: ‘My best food na suya’ — British high commissioner speaks Pidgin English

Paul Arkwright, Britain's high commissioner in Nigeria, has said his favourite Nigerian meal is suya (spicy grilled kebab).In an interview on BBC Africa, Arkwright explained his love for Nigeria and expressed himself in Pidgin English.The British broadcasting network recently launched BBC Pidgin to broaden its reach in Nigeria.https://twitter.com/BBCAfrica/status/907837538156630016  [...]

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    Ambode awards scholarship to one-day gov, says a woman will soon run Lagos

Ambode awards scholarship to one-day gov, says a woman will soon run Lagos

Akinwumi Ambode, governor of Lagos, says the state will have its first female governor in no distant time.Ambode made this statement on Wednesday when he received Zuffon Bukola, an SS2 student who became one-day governor of the state after winning the annual Spelling Bee competition.In a statement shared with TheCable, Ambode said the emergence of two female students as one-day [...]

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    FG to provide security, insurance for cattle farmers

FG to provide security, insurance for cattle farmers

Vice-President Yemi Osinbajo says the federal government has formed a new security outfit to protect investment in agricultural sector including cattle.Osinbajo made this known while speaking at a 3-day national conference on the transformation of the livestock industry holding at the International Conference Centre in Abuja.The vice-president, who was represented by Audu Ogbeh, minister of agriculture and rural development, said [...]

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    Dangote to invest $4.6bn in agriculture in five years

Dangote to invest $4.6bn in agriculture in five years

Dangote Group of Companies says it will invest $4.6 billion in agriculture and $800 million in the beef and dairy industry in the next five years.Aliko Dangote, chairman of the group, made this known at a three-day conference on Transformation of Nigerian Livestock Industry in Abuja.NAN reports that Dangote, who was represented by Mansur Ahmed, executive director, stakeholder management and [...]

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    UNICEF: Cholera victims in Borno IDP camps being kept away from treatment

UNICEF: Cholera victims in Borno IDP camps being kept away from treatment

The United Nations Children Fund (UNICEF) says its efforts to contain the cholera outbreak in internally displaced persons camps across Borno are being slowed down by people hiding suspected cases.According to UNICEF, 1626 people have been affected by the cholera outbreak as at September 11.According to Souleymane Sow, a UNICEF official, 40 people have died from the outbreak, an increase [...]

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    Negative media coverage keeps investors away from Africa, says Elumelu

Negative media coverage keeps investors away from Africa, says Elumelu

Tony Elumelu, chairman of Heirs Holdings, says the stereotypical image of Africa portrayed in the media is the continent's greatest challenge as it discourages investors from investing in the continent.Elumelu made this statement while speaking at a gathering of policymakers and development experts hosted by UK's foreign policy institute at the Chatham House.He said: "I believe that the greatest challenge [...]

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    Aiteo: We were major players long before Diezani… it’s ridiculous to say we bribed her

Aiteo: We were major players long before Diezani… it’s ridiculous to say we bribed her

Aiteo Group, an oil and gas company, says it did not give Diezani Alison-Madueke, former minister of petroleum resources, property or furniture in England in exchange for contracts from the Nigerian National Petroleum Corporation (NNPC).According to a statement released by the company, the interaction between Benedict Peters, its executive vice chairman, and the former minister were in line with acceptable [...]

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    Dollar ‘scarce’ as naira falls to N367/$

Dollar ‘scarce’ as naira falls to N367/$

The value of the naira against the dollar is declining as bureaux de change operators say the US currency is getting scarce in the parallel market.This is despite several efforts made by the Central Bank of Nigeria (CBN) to stabilise the naira by providing forex to various sections of the market.On Tuesday, the naira traded at N366 to a dollar and [...]

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    Fashola, Egbin disagree over government debt

Fashola, Egbin disagree over government debt

Babatunde Fashola, minister of power, works and housing, has disagreed with the management of Egbin power station over the amount owed it by the federal government.In an interview with Bloomberg, Dallas Peavey, chief executive officer of Egbin Power Plant Plc, had said the government owed the company N125 billion and that about 700MW of electricity was wasted because of inadequate [...]

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    FG approves concession of Lagos, Abuja airports

FG approves concession of Lagos, Abuja airports

Vice-President Yemi Osinbajo says the federal executive council has agreed to concession the Murtala Muhammed Airport, Lagos and Nnamdi Azikiwe Airport, Abuja.The vice president made this known on Monday while speaking at the fifth edition of the presidential quarterly business forum which held at the State House, Abuja."I am pleased to say that the federal executive council (FEC) has approved [...]

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    Siemens ‘to add 459MW’ to national grid by 2018

Siemens ‘to add 459MW’ to national grid by 2018

Onyeche Tifase, Siemens Nigeria CEO, says the company aims to add 459MW to the national grid by 2019 through its Azura Edo Independent Power Project.According to the company, the project is expected to add 3GW to the national grid by 2020 upon completion.In a statement signed by Keshin Govender, media relations officer of the company, the company quoted international studies [...]

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    Hurricane Harvey pushes oil prices to $54 per barrel

Hurricane Harvey pushes oil prices to $54 per barrel

Oil prices rose on Wednesday and remained so on Thursday due to the closure of refineries as a result of Hurricane Harvey, which knocked out refineries, pipelines, and ports in some parts of the United States.By 7am on Thursday morning, Brent crude, the international benchmark, traded at $54.02 per barrel, a 16 cents drop from $54.20 which it exchanged for [...]

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    AMCON ‘not aware’ of Ethiopia’s bid for Arik Air

AMCON ‘not aware’ of Ethiopia’s bid for Arik Air

The Asset Management Corporation of Nigeria (AMCON) says it is not aware of the bid claimed to have been made by the Ethiopian government for Arik Air, Nigeria's largest domestic airline.The agency made this known in a statement signed by Jude Nwauzor, AMCON's head of corporate communications.CNN had reported that Esayas WoldeMariam, Ethiopian’s managing director of international services, disclosed that [...]

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    FIRS: Nigerians paid N2.11trn tax in seven months

FIRS: Nigerians paid N2.11trn tax in seven months

The federal inland revenue service (FIRS) says it generated a sum of N2.11 trillion as revenue from January to July 2017.NAN reports that the service made this known in a progress report of the FIRS from January to July 2017, showing their revenue performance and impact of the new tax regime.A breakdown of the report showed that the FIRS collected [...]

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Exchange Rates

July 12, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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