PM News Nigeria


Oando pays ConocoPhillips another $25mn

crude oil barrels

Oando Energy Resources has paid another $25million dollars to US oil company, ConocoPhillips, as part of the moves to acquire the ConocoPhillips assets in Nigeria. The payment was a fulfilment of Oando’s promise late in March to pay additional deposit as the parties await the approval of Nigeria’s minister of petroleum, Diezani Alison-Madueke. The $25 […]

Total discovers oil in Cote d’Ivoire offshore

Total oil company

French oil giant Total on Thursday announced the discovery of oil in Saphir-1XB exploration well in the deep offshore west of Cote d’Ivoire in West Africa. “Drilled in an abrupt margin play, this first well is the first discovery in the San Pedro Basin, a frontier exploration area in Cote d’Ivoire. “ Having confirmed the […]

CFAO to open vehicle assembly plant in Nigeria

Mitsubishi Fuso Truck

French automobile manufacturer, CFAO Automotive Group, said in Abuja that it was making necessary logistic arrangements to begin vehicle assembly operations in the country. A statement by the National Automotive Council (NAC) quoted the Managing Director of CFAO, Olivier Levigne, as saying this during a visit to the Director-General of the council, Aminu Jalal. According […]

FRCN Probe: Court Fixes 12 May For Verdict

•Sanusi Lamido Sanusi

Akin Kuponiyi  A Federal High Court sitting in Lagos State, southwest Nigeria, Friday adjourned till 12 May this year to deliver judgment in a suit filed before the court by the suspended Governor of Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, against Financial Reporting Council of Nigeria, FRCN, and its Executive Secretary. Sanusi is […]

Amosun developing four estates, says Odusolu

Babajide Odusolu

Abiodun Onafuye/Abeokuta In pursuance of the urban renewal programme of the Ibikunle Amosun administration in Ogun state, four new estates with 600 housing units are being developed in the three Senatorial Districts. Babajide Odusolu, the Special Adviser on Trade and Investment who also doubles as the Managing Director, Ogun State Property Investment Corporation, OPIC disclosed […]

US ambassador praises NSE’s performance

Dealers at the Nigeria stock Exchange

James Entwistle, United States ambassador to Nigeria has praised the management of the Nigerian Stock Exchange (NSE) on its accountability and transparency standards. Entwistle, who gave the commendation during his visit to NSE’s trading floor in Lagos, described the organisation as one of Nigeria finest institutions. “The NSE is today one of Nigeria’s finest institutions […]

A lesson from Algiers: Stemming youth brain drain

An Algerian entrepreneur 31-year-old Nassim Aoudia stands at one of his workshops in the city of Borj al-Bahri,

ALGIERS(AFP) – They fled Algeria to escape the violence ravaging the country in the 1990s, but now more and more young exiled Algerians are returning, lured by better economic prospects linked to government financial enticements. With unemployment in the oil-rich North African nation hovering at 21.5 percent among under-35s, according to the International Monetary Fund, […]

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