FG TO DIVERSIFY ECONOMY WITH 41BIL DOLLARS RAILWAY INVESTMENT

Lekan Adetayo and Stanley Opara The Federal Government has started a $41bn railway expansion to reduce dependence on oil and diversify the economy, the Minister of Transportation, Mr. Rotimi Amaechi, has said. “The plan we have now will go to every nook and corner,” Amaechi said on Wednesday in an interview in Abuja, Bloomberg reported. The Federal Executive Council also on Wednesday approved the contract for the repair of the Itapke-Ajaokuta-Warri rail link. Nigeria, which is Africa’s biggest oil producer, is going through its worst economic slump in 25 years following a…

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WHY INVESTORS ARE RUNNING AWAY FROM NIGERIA – PETROLEUM MINISTER, IBE KACHIKWU

Okechukwu Nnodim, Abuja There is some level of latent difficulty for investors to come and invest in Nigeria due to security concerns, among other issues, the Minister of State for Petroleum Resources, Ibe Kachikwu, has said. This is coming as the Group Managing Director of the Nigerian National Petroleum                               Corporation, Maikanti Baru, announced that the country’s current crude oil production had risen to 2.2 million barrels per day. Kachikwu, who spoke at the 6th Sustainability in the Extractive Industries Conference organised by CSR-in-Action on Wednesday in Abuja, noted that although…

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9MOBILE SHOP FOR INVESTORS

’Femi Asu A Global System of Mobile telecommunications operator, 9Mobile (formerly known as Etisalat Nigeria), has said the change of its brand name will not affect the quality of its services, even as it is open to new investors. The Chief Executive Officer, 9Mobile, Mr. Boye Olusanya, said the company would continue to make more positive contributions to the telecommunications sector and deliver better value to customers. Olusanya, who stated this while unveiling the new brand identity at a press briefing in Lagos on Wednesday, said, “The change in name…

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AKEREDOLU HANDS OFF RUNNING OF OKITIPUPA OIL FIRM

Akeredolu hands off running of ailing Okitipupa oil firm The Sun News / Uche Atuma / 52 minutes ago By Remi Adefulu Reprieve finally came the way of dying Okitipupa Oil Palm Company (OOPC) as the new Governor Rotimi Akeredolu’s administration in Ondo State has relinquished the over five years’ hold clamped on it by his immediate predecessor. Akeredolu, in addition, has pledged that his government would not interfere in the running of the firm, which used to rank among the best in the country, where former President Olusegun Obasanjo…

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