BUSINESS

Dangote Sets to Launch 25,000 Hectares of Rice Outgrower Scheme in Sokoto

Dangote Rice, a subsidiary of Dangote Group is set to launch in Sokoto. Sokoto state it’s multi-million naira 25,000 hectares of rice outgrower scheme with a prospect of hundreds of thousands of employment opportunities for the rural communities inhabitants. President ...

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Arik in deep rooted rot, needs N10bn to operate – AMCON

The Asset Management Corporation of Nigeria (AMCON) on Sunday said it had discovered deep rooted rot at embattled airline, Arik Air. AMCON said it would require over N10 billion to fix the rot before the largest local carrier could resume ...

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We lose $80bn to militant attacks on oil installations every year

Ibe Kachikwu, minister of state for petroleum, says every year, Nigeria loses at least $80 billion to vandalism of oil facilities in the Niger Delta region. Militants are responsible for attacks on oil assets. Kachikwu made this known at the ...

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Aero set to resume operations, Appoints new CEO

Aero Contractors, Nigeria’s oldest private airline will soon be back in operation. Its new owners, the Assets Management Company of Nigeria (AMCON) has appointed the Deputy Managing Director, Arik Air, Capt. Ado Sanusi as the new Chief Executive Officer. AMCON ...

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ExxonMobil Nigeria appoints Paul McGrath new MD

Mobil Producing Nigeria Unlimited on Friday announced the appointment of Paul McGrath as the new Chairman and Managing Director of the organisation, with effect from March 1. Ogechukwu Udeagha, Manager, Media and Communication, said in a statement issued in Lagos ...

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ARIK TAKEOVER: Arik to challenge AMCON in the highest court of the land

The management of Arik Air on Thursday said it would challenge the taking over of the airline by the Assets Management Company of Nigeria (AMCON) in court. Ado Sanusi, senior vice-president, Arik Air, made the disclosure at a joint news ...

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FG takes over troubled Arik Airlines

The federal government has come to the aid of Arik Airline, which has been experiencing difficulties in recent times, appointing a new management to run its affairs. As disclosed by the Asset Management Corporation of Nigeria (AMCON), the decision to ...

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Emirates sets standards for on-board medical care

Flight diversions due to inflight medical emergencies make up a tiny portion of the millions of flights operated annually, but it is costly for airlines. With more people traveling by air, the actual number of inflight medical events has been ...

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Ambode set to ban yellow buses (Danfo) this year

The Governor of Lagos State, Akinwunmi Ambode, says he has plans to phase out commercial buses popularly known as Danfo before the end of the year. Speaking at the 14th annual lecture of the Centre for Values in Leadership (CVL) ...

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AfDB approves $155m power loan for Nigeria

The African Development Bank (AfDB) has approved and released $155 million to assist Nigeria to improve its power sector. The loan is for Economic and Power Sector Reform Programme (EPSERP). The approval became effective from Oct. 19, 2012 and the ...

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