OPEC yesterday in Abuja reached a consensus to effect a production cut of 500,000 barrels per day but effective February 1, 2007. This immediately sent oil price in the international market above $62. President Olusegun Oba-sanjo, while addressing the 143rd … read more
During a recent visit to the Nigerian city of Ibadan in Oyo State, I watched my brother Kunle tend to the chickens in his backyard. Like most residents on that morning, he was filled with anxiety, and had no intention … read more
THE Federal Government has awarded a N3 billion contract to Julius Berger Plc for the asphalt resurfacing of the Port Harcourt Airport runways. The Federal Government late last year shut the airport to traffic, shortly after a Sosoliso plane crash … read more
Gunmen have invaded an oil facility operated by Shell in the Nun River area of Nigeria’s Bayelsa state and are holding several soldiers and oil workers hostage, security and industry sources said on Friday. It was the second attack against … read more
Armed men who attacked a Royal Dutch Shell PLC oil complex overnight fled Friday, taking three Nigerian hostages, shooting a man and forcing the oil giant to halt 12,000 barrels of production per day. The attackers kidnapped a soldier, an … read more
In an unusual manner, dare devil armed robbers yesterday struck two areas of Lagos metropolis, leaving about 17 people, including a mobile policeman dead. While a set of the robbers unleashed terror at the popular Lagos Alaba International Market in … read more
The Central Bank of Nigeria {CBN} will soon move against hawkers of the Naira, especially those who exchange new currency notes for old ones at motor parks or parties and other social functions. This plan was revealed in Ibadan during … read more
The two main opposition parties in Nigeria have agreed to form an alliance in time for next year’s presidential, parliamentary and state elections. Leaders of the All Nigeria People’s Party (ANPP) and the Action Congress (AC) agreed not to run … read more
The United States government yesterday warned that the avian flu, popularly known as the bird flu, may mutate into a deadly pandemic worldwide and could end up claiming millions of lives globally, especially in developing countries. The US leader of … read more
The Warri Refinery and Petrochemicals Company has recorded a total income of N5.75bn in the financial year ended 2005. That result was achieved despite the companys inability to operate at full capacity due to the havoc wreaked on the Escravos … read more