Author: Our Reporter

A Professor of Economics has spoken of the need for the Federal Government to use the country’s oil revenues to build infrastructures as is done in other countries. Professor Akpan H. Ekpo, speaking at a workshop on the Nigeria Natural Resource Charter, NNRC, Bench-marking Exercise Report, said Federal Government should use oil revenue to finance Nigeria’s development, Ekpo, a former Director of the Central Bank of Nigeria, CBN, who is also a member of the Expert Advisory Panel of the NNRC, observed that this was necessary because oil is a wasting asset that would deplete one day. Obinna Chidoka, Chairman,…

It is predicted that global Liquefied Natural Gas (LNG) demand will likely reach 280 million tonnes (MMTPA) in 2017, the largest year-on-year growth since 2011, Bloomberg News Energy Finance said in its latest research report on Global LNG Outlook. According to the report, the surge is driven by uncertainty of nuclear power generation in Northeast Asia, energy market reforms and concerns on air pollution in China and higher capacity in major exporting regions. The increase in demand is despite disruptions, including Qatar’s rift with Saudi Arabia, demands for export curbs in Eastern Australia and falling demand in Latin America. ‘’Consumption…

Former heaviest woman in the world, Eman Ahmed Abd El Aty, has died in a hospital in the United Arab Emirates. Aged 37, Abd El Aty, from Alexandria, Egypt, once weighed 1,100 lbs, and before her surgery earlier this year had not left her house since she was 17. Doctors at Burjeel Hospital in Abu Dhabi said Miss Ahmed Abd El Aty had died due to complications from her weight, including heart disease and kidney dysfunction. The hospital said: ‘Our prayers and heartfelt condolences go out to her family.’ Doctors blamed her weight on a thyroid condition, while her family…

Work has started on the Environmental and Social Impact Assessment, ESIA, Study on the second 330 kilovolt (kv) transmission line from Ikeja West in Lagos to Sakete in Benin Republic. The project under the West African Power Pool, WAPP, with support from New Partnership for Africa’s Development, NEPAD, and the African Development Bank, ADB, would be ready by 2021. Usman Gur Mohammed, the Interim Managing Director of Transmission Company of Nigeria, TCN, disclosed in Abuja, that the TCN is targeting 20,000 megawatts transmission capacity in the next three years. Mohammed, who is also Chairman of WAPP said, “The second 330kv…

Federal Airports Authority of Nigeria, FAAN, has confirmed more than 200 staff as fire-fighting and security officers after a 13-week training programme in Lagos. The officers, who have gone through rigorous training in fitness and attitude toward work, displayed various skills in match past and Taekwondo during their passing-out parade. Mr. Saleh Dunoma, Managing Director of FAAN, who congratulated the officers for their successful training, urged them to be good ambassadors of the organization in the discharge of their duties. Dunoma represented by the Director, Engineering services, Salisu Daura, said the three months of rigorous training had been rough and…

The National Collateral Registry, NCR, has attracted 16,236 financing statements for 20,684 movable assets valued at N392 billion on its platform as at August 24, 2017. Godwin Emefiele, Governor of Central Bank of Nigeria, CBN, who stated this in his forward to the NCR Newsletter posted on the bank’s website, weekend, said:  “I am happy to note that the strategy is yielding positive results. As at August 24, 2017, 136 financial institutions, 22 commercial banks, 106 micro-finance banks, one non-bank financial institution, three merchant banks, three development finance institutions and one non-interest bank have registered 16,236 financing statements for 20,684…

Tragedy struck at 50, Wright Street, Adekunle, Yaba, Lagos on September 6, after a man reportedly killed his pregnant lover. The commercial bus driver, Okiki Arisekola has been declared wanted by the police for beating to death the estranged mother of his child, Islamat Bolaji who got pregnant for another man. The suspect had a quarrel with her over the custody of their 11-month-old daughter, Kemi before beating her to death, according to the deceased’s 64-year-old grandmother, Mrs Gbemisola Agbola who said she had lost Ismalat’s mother, Aishat at just exactly the same age. It was learnt that Arisekola was…

There are fears that the Economic and Recovery Growth Plan (ERGP) of the Federal Government set for 2017-2020 may not be realised due to inadequate and unstable power supply in the country. The ERGP, a medium-term structural reform to diversify Nigeria’s economy, including expanding power sector infrastructure was drawn based on the assumption that electricity supply would continue to grow and hit 10,000 megawatts by 2020. But the latest report from the Presidency and made available to Vanguard showed that Nigeria has consistently generated below 4,000 MW for a greater part of 2016 and 2017, barely three years to set…

Indications are rife that troops may withdraw from the streets of Aba and Umuahia, five days after hostility broke out between members of the Indigenous People of Biafra, IPOB and the Nigerian Army. The Abia State Governor, Dr. Okezie Ikpeazu told journalists that a meeting attended by the army, police and traditional rulers of the state had agreed for the withdrawal of the soldiers. Ikpeazu said the meeting attended by the General Officer Commanding (GOC) 82 Division of the Nigeria Army, Enugu, Major General A.B. Abubakar, at Government House Umuahia Thursday also resolved to reduce the presence of soldiers on…

Nobel Laureate Wole Soyinka is set to take up the position of a visiting professor at the University of Johannesburg in South Africa, saying being a traveling teacher has become “a way of life.” Soyinka told students and journalists at the South African University on Friday that the benefit of encountering different cultures during his journeys is that “one does not stagnate.” The 83-year-old Nigerian playwright and author who was awarded the Nobel Prize in literature in 1986, has taught at universities around the world. He said he and his Johannesburg students might create a play together, as well as…