Business

NLC: Revive refineries to shield Nigerians from crisis

The Nigeria Labour Congress (NLC) expresses the collective distress of millions of Nigerian workers who are enduring the severe consequences of a global capitalist crisis they did not create.

The military escalation involving the United States, Israel and Iran has sent shockwaves through global oil markets. As a result, fuel prices in Nigeria have surged to between N1,170 and N1,300 per litre.

This development is a direct affront to the Nigerian people. While imperial rivalries play out with weapons abroad, the Nigerian working class is being battered by poverty and hunger because the country has failed to ensure that its public refineries function effectively.

Business

76 oil wells: A’Ibom, C’River resolve dispute

The lingering controversy surrounding the disputed 76 oil wells between Akwa Ibom and Cross River States has been resolved, following high-level engagements involving key political actors at the national level.

President of the Senate, Godswill Akpabio, on Wednesday in Abuja, hosted Governor Umo Eno of Akwa Ibom State and his Cross River State counterpart, Bassey Otu, in what insiders described as a decisive meeting to put an end to the protracted dispute.

Business

Akwa Ibom dismisses reports of 76 oil wells cession

The Akwa Ibom State Government has dismissed media reports suggesting that its 76 oil wells have been ceded to Cross River State.

The government maintained that the draft report by a Federal Government Inter-Agency Committee to the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) does not amount to a reallocation of oil wells.

The Attorney General and Commissioner for Justice, Uko Udom (SAN), alongside Paul Usoro (SAN), the Commissioner for Information, Mr Aniekan Umanah, and the Chief Press Secretary to the Governor, Mr Ekerete Udoh, stated during a joint media briefing on Monday in Uyo that the two Supreme Court rulings of June 24, 2005, and July 10, 2012, which decided decisively in favour of Akwa Ibom and affirmed the 76 oil wells to the state, remain valid.

Business

NSE appoints Eradiri, others to 2026 Professional Development Board

The Nigerian Society of Engineers (NSE) has appointed a former President of the Ijaw Youth Council (IYC) Worldwide, Engr. Udengs Eradiri, to its 2026 Professional Development Board (PDB).

Eradiri, a former Commissioner for Youth and later Environment in Bayelsa State, was reportedly considered for the appointment in recognition of his outstanding contributions to engineering development and the professional advancement of NSE.

Business

Lack of investors delaying Ibom Deep Seaport – Eno

Akwa Ibom State Governor, Umo Eno, has attributed the apparent stagnation of the Ibom Deep Seaport project to the absence of investors, assuring that the state government has fulfilled all regulatory requirements for the project.

Governor Eno disclosed this during the three-day Niger Delta Blue Economy Summit held on Tuesday at Four Points by Sheraton Hotel, Ikot Ekpene. He explained that the delay in commencing the project was largely due to challenges in attracting the required foreign investment.

The governor’s comments come amid growing concerns among residents, who have questioned why the project appears stalled, especially as the completion of the seaport was widely cited as one of the reasons for Governor Eno’s defection to the All Progressives Congress (APC).

Business

Bayelsa diversifies economy to attract investment, boost tourism

The Bayelsa State Government says it is repositioning the state’s economy as a preferred destination for investors and tourists through sustained economic diversification.

The Commissioner for Information, Orientation and Strategy, Mrs Ebiuwou Koku-Obiyai, stated this at the weekend during a transparency briefing held at the Bayelsa Treasury Building in Yenagoa.

She explained that the state is diversifying into agriculture, the marine and blue economy, marine transport, aviation and tourism as part of efforts to broaden its economic base.

Business

Sanwo-Olu: Lagos to partner World Bank on key sectors

Lagos State Governor, Mr Babajide Sanwo-Olu, has reaffirmed his administration’s readiness to partner with the World Bank Group in key sectors, including energy, agriculture, tourism and human capital development.

The governor said the Lagos State Government remains committed to attracting investments and strategic partnerships that will improve the living standards of residents, stressing that the state is prepared to meet all requirements to access increased World Bank support for infrastructural development.

Sanwo-Olu made this known on Sunday during a courtesy visit by a World Bank Group delegation led by the Managing Director (Operations), Ms Anna Bjerde, and the International Finance Corporation (IFC) Regional Vice President for Africa, Mr Ethiopis Tafara, at the Lagos House, Marina.