Muideen Ibrahim, the Executive Secretary of the Electricity Meters Manufacturers Association of Nigeria (EMMAN) has alleged that electricity distribution companies have refused to patronize indigenous meter manufacturers,
He states that his members have more than N9.5 billion worth of local manufactured meters ‘wasting’ in warehouses across the country simply because the private investors in the DISCOs prefer ‘imported meters.’
KEVIN EGERU, Business Editor
The Vice Chairman of GE Mr. John Rice yesterday in Abuja declared Messes Julius Berger Nigeria Plc as the preferred bidder to build General Electric’s multi modal manufacturing and Assembly facility in Calabar, Nigeria. He said that Julius Berger has also been contracted to build a training facility on the manufacturing site that ensures on-going employee development. These were disclosed by Mr. Rice himself during a courtesy visit on the Minister of Petroleum Resources, Mrs. Alison Diezani Madueke.
Euro zone ministers are considering extending the Greek bailout, due to end this year, by six months to the middle of 2015, to allow Athens more time to comply with the conditions for the disbursement of the remaining money, a document showed.
But extending the program beyond a few weeks into the new year would complicate Prime Minister Antonis Samaras’ efforts to secure victory for his preferred candidate in a presidential vote in February since he has staked his chances on exiting the EU/IMF bailout by the end of the year, when funding from the EU is due to end.
The volume of Non-Performing Loans (NPLs) in the Nigerian banking sector increased by N38.05 billion representing 13.30 per cent to N324.14 billion in 2013 from N286.09 billion in 2012.
This is even as the total loans of the banks in 2013 stood at N10.04 trillion, an increase of 23.22 per cent compared to N8.15 trillion in 2012.
Etisalat Nigeria and other Mobile Network Operators across Africa are partnering the African Union (AU) Commission to support the fight against Ebola in West Africa. The initiative, operating under the hash tag ‘#AfricaAgainstEbola’ will combat the dreaded virus by using an SMS dedicated platform to raise funds for the deployment of African health workers to affected countries.
Stories by NWADINAMUO AUGUSTINE
The stakeholders in the Maritime sector have advocated for an outright embargo on importation of goods from countries where sub standard products were being imported into Nigeria as a way of discouraging them from embarking on such venture.
Speaking on building an enduring Private/Public Partnership in the maritime sector at a one day stakeholders’ forum on the maritime industry organized by the Standards Organization of Nigeria (SON) in Lagos, the Secretary General, Association of Nigerian Licensed Customs Agents (ANLCA) Dr. Emmanuel Ogu Oparah argued that only when such embargo was imposed will Nigeria get the current war against fake and sub standard products right.
General Electric (GE) and Heirs Holdings (HH) have agreed to expand their existing relationship to jointly pursue opportunities in Nigeria’s oil and gas industry. Having identified enormous opportunities in the upstream sector and the domestic demand for oil and gas, both companies are poised to collaborate in transforming the industry landscape.
Custodian and Allied Insurance Plc has emerged winner of the PEARL Awards for sectorial leadership in the financial services for 2014.
The PEARL Awards is an annual event organized for and on behalf of the Nigerian Stock Exchange to promote excellence and honor deserving corporates.
… As Aviation Minister cautions clearing agents
Three weeks of crises which resulted in the closure of the two cargo sheds, namely; Nigeria Aviation Handling Company (NAHCO) and Skyway Aviation Handling Company (SAHCOL) at the Murtala Mohammed International Airport(MMIA) has ended with the Comptroller General of the Nigeria Customs Service (NCS), Alhaji Dikko Inde Abdullahi on Wednesday ordering the immediate reopening of the cargo sheds for business.
AIM-listed Eland Oil & Gas Plc , an oil & gas production, development and exploration company operating in West Africa with a principal focus on Nigeria, has revealed operations and financing updates on Opuama Field current average gross production over 3,500 bopd (1,575 bopd net to Elcrest Exploration and Production Nigeria Ltd (“Elcrest”), Eland’s joint venture company) based on production days.