The future progress of Africa as a continent is in the hands of its youthful population, Phillips Oduoza, Group Managing Director and CEO of United Bank for Africa (UBA) Plc has said.
Mr. Oduoza made the submission recently at the Future Awards and Summit also popularly known as The Future Awards where hundreds of youths gathered at the prestigious Intercontinental Hotel, Lagos to celebrate youths excelling in different aspects of life.
Oil producers group OPEC can ride out a slump in oil prices and keep output unchanged, its head said on Sunday, arguing market weakness did not reflect supply and demand fundamentals and could have been driven by speculators.
Speaking at a conference in Dubai, Abdullah al-Badri defended November’s decision by the Organization of the Petroleum Exporting Countries to not cut its output target of 30 million barrels per day (bdp) in the face of a drop in crude prices to multi-year lows.
COMFORT EKELEME with Agency report
Naira gained 1.26 per cent against the dollar at the weekend on the back of intervention by the Central Bank of Nigeria (CBN) and dollar sales by a unit of Chevron.
The local currency closed at 179.6 to the dollar, firmer than 181.90 the naira closed at the previous day.
An oil and gas expert has predicted that indigenous oil and gas firms operating in the country will account for about 50 per cent of produced oil and gas output in Nigeria in the next 10 years.
Managing Director of Frontier Oil Nigeria Limited, Engineer Thomas Dada who made this prediction at a recent oil summit held in Lagos said that International Oil Companies (IOC) would by then concentrate efforts on harnessing oil and gas resources domiciled in the offshore and ultra deepwater fields.
As the Federal government gets set to ban foreign vessels which operate in the Nigerian waters without the input of the local ship builders, the Merchant Navy Officers and Senior Staff of Water Transport has faulted the plan describing it as premature.
It would be recalled that the Federal government early this month through the Nigerian Content Development Management Board (NCDMB) announced that it would place a ban on the purchase of vessels from abroad without input from local ship builders in Nigeria.
Worried about the glassy of transparency in the oil and gas sector, the Nigeria Natural Resource Charter (NNRC), has revealed that the operations and award of contracts in the sector remained shrouded in secrecy.
The former Minister of Petroleum Resources and a Co-Chair of the Group, Odein Ajumogobia, who led the launching of the report in Lagos , said that it came at the right time when Nigeria needed to sit tight and re-strategise on proper management of its natural resources.
Chairman of Zinox Group, Chief Leo Stan Ekeh has urged entrepreneurs to embrace the concept of re-tooling as a fundamental tool for sustaining their entrepreneurial drive and corporate relevance in today’s dynamic business environment.
He gave the charge at the maiden edition of the Fidelity Bank Annual SME Conference with the theme: Positioning Nigerian SMEs for Growth held in Lagos recently.
Governor of Kano State, Dr.Rabiu Musa Kwankwaso has commended Nigerian Ports Authority (NPA) for its contributions to the social and economic development of Kano State through its continuous participation in the Kano International Trade Fairs over the years.
Asst News Editor
Trade Union Congress of Nigeria urged the Federal Government to urgently address the grouse of health workers operating under the auspices of the Joint Health Sector Unions and Assembly of Health Care Professionals (JOHESU).
JOHESU comprises Medical and Health Workers Union of Nigeria; National Association of Nigeria Nurses and Midwives; Senior Staff Association of Universities Teaching Hospitals, Research Institutes and Associated Institutions; Nigerian Union of Allied Health Professions and Non-Academic Staff Union of Education and Associated Institutions.
The General Manager, ReadyMix, Lafarge Nigeria, Mr. Chris Lobel has said that the invention of ReadyMix solution by Lafarge Africa in Nigeria is essential in meeting the nation’s housing and infrastructural development challenges.
Explaining the advantages of the product during a recent stakeholders’ meeting on building a durable concrete for West Africa construction in Lagos, Lobel, who spoke on ‘Commercial ReadyMix concrete as a project enabler-benefits for owners and contractors’, said the company had a clear strategy as a project enabler, driving quality and innovation and promoting a sustainable environment.