Business

Nigerian govt concessions Onitsha port, others to two firms

The Federal government under its agency, National Inland Waterways Authority (NIWA), has finally concessioned the Onitsha River Port in Anambra State  to two organisations and may likely commence operations before the end of 2018.

The Acting Managing Director, NIWA, Barrister  Danladi Ibrahim while addressing journalists on Monday in Lagos, stated that among the four river ports, in existence, two would be commissioned by the President before the end of the year.

Royal Dutch Shell mulls $25b share buy-back

Royal Dutch Shell is under pressure to repay its investors’ patience this week by beginning a bumper $25bn (£19bn) share buy-back plan.

Twitter appoints Okonjo-Iweala board member

A prophet has no regard in his hometown can apply to Nigeria’s former Minister of Finance, Ngozi Okonjo-Iweala, who was just appointed to the board of social media giant, Twitter Inc.

  On the two Nigeria’s administrations that she served, she achieved tangible economic growths – debt forgiveness during the Olusegun Obasanjo’s era and steady economic growth at seven percent of GDP while as economic coordinator of Goodluck Jonathan’s government.

U.S. lawmakers, group carpet Lagos govt over water privatisation

.Drum support for Our Water, Our Right Coalition
By Valentine Amanze

The Our Water, Our Right Coalition has commended the 23 members of the Congressional Black Caucus (CBC) and Congressional Progressive Caucus (CPC), who wrote a solidarity letter siding with Lagos citizens in their struggle against water privatisation.

Buhari appoints ex-CBN deputy gov as FERMA boss

President Muhammadu Buhari has appointed a former Deputy Governor of the Central Bank of Nigeria, Mr. Tunde Lemo, as Chairman of the Federal Emergency Road Maintenance Agency (FERMA).

Buhari also appointed a new Managing Director and six members of the board of FERMA.

President of the Senate, Bukola Saraki, made this known as he read a letter from the President at the plenary on Thursday in which he sought legislative approval for the appointments.

Lessons from French president’s visit to Fela Kuti’s New Afrika Shrine in Nigeria

By Valentine Amanze

Edo govt to upgrade more tourist sites 

The Edo State government has pencilled down more tourist sites and destinations for revamp, following the positive disposition of private developers to invest in the sector.

Commissioner for Arts, Culture, Tourism and Diaspora Affairs, Mr. Osazee Osemwingie-Ero, disclosed this to journalists in Benin City, the state capital.

According to the commissioner, “We have visited several of our prized tourist sites and destinations, some of them have long been abandoned, some need maintenance while some need revamp, which we intend to do through public private partnership (PPP).”

Why Egypt’s Head of Customs was arrested

Egyptian government has effected arrest of the head of its Customs Authority, Gamal Abdelazim, on suspicion of accepting bribes to permit the entry of banned goods into the country without Customs duties.
The Administrative Control Authority said in a statement.
The statement did not specify what types of goods were smuggled or the value of the alleged bribes.
Abdelazim had also directed employees to reduce the fines owed for goods that had been seized.

Fake Australlian visa lands businessman in court

A 42-year-old businessman, Moses Olusola, was on Wednesday arraigned before an Igbosere Magistrate Court by the Police over alleged conspiracy, forgery, fraud and obtaining sum of N2.8 million under false pretence of procuring Australian visa for his victim.
Olusola, whose residential address was not given, pleaded not guilty to the four-count charge levelled against him by the police after it was read to him by court registrar.

NCC wades into MTN’s labour crises

The Nigerian Communications Commission (NCC) on Monday said that the organisation had opened talks with critical stakeholders on MTN’s labour issues.

 Mr Tony Ojobo, the NCC’s director of Public Affairs, stated this in Abuja.

“NCC under the leadership of Prof. Umar Danbatta has opened talks with other critical stakeholders through the office of the Executive Commissioner Stakeholders Management, Mr Sunday Dare on the issue.

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